Resale four-bedder at Astrid Meadows earns record $3.45 mil profit

SINGAPORE (EDGEPROP) - The two most profitable deals recorded for the week of Aug 27 to Sept 3 were the sales of two 3,800 sq ft, four-bedroom units at the freehold Astrid Meadows on Coronation Road West in prime District 10.
The most profitable deal occurred on Aug 30, when a fifth-floor unit changed hands for $6.95 million ($1,829 psf). It had been bought for $3.5 million ($921 psf) in October 2005, which means the seller walked away with a $3.45 million profit (99%), or an annualised profit of 5% over a 14-year holding period.
This transaction is also the most profitable resale at the 208-unit development. Previously, the record was held by a 3,810 sq ft unit which earned a $3.2 million profit when it was sold for $6.5 million ($1,706 psf) in July 2012. The unit had been bought for $3.3 million ($866 psf) in 2005.
Astrid Meadows is a low-rise, freehold condo in prime District 10 (Picture: Albert Chua/EdgeProp Singapore)
The other 3,800 sq ft unit, on the third floor, fetched $6.4 million ($1,684 psf) when it was sold on Aug 28. The unit had been bought for $4.33 million ($1,140 psf) in 1997, which means a profit of $2.07 million (48%) or an annualised profit of 2% over a 22-year holding period.
Astrid Meadows is a low-rise condo that borders the Good Class Bungalow areas of Bin Tong Park, Leedon Park, Oei Tiong Ham Park, and Astrid Park. It is also close to the three-storey, mixed landed estate off Jalan Haji Alias and the two-storey, semi-detached estate on Namly Avenue. The 29-year-old development comprises studios, two- to four-bedroom units, and penthouses.
The sale of a four-bedroom unit at The Imperial in District 9 was the third most profitable of the week. The 2,077 sq ft unit was sold for $4.25 million ($2,046 psf) on Aug 30. It had been bought for $2.42 million ($1,164 psf) in August 2006. The seller walked away with a $1.8 million (76%) profit, or an annualised profit of 4% over a 13-year holding period.
So far this year, all the resale transactions at the freehold condo have been profitable, with profits ranging from $180,800 to $2.15...