Resale four-bedder at Four Seasons Park reaps $2.53 mil profit
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The sale of a four-bedroom unit at Four Seasons Park was the most profitable condo resale transaction over the period of Oct 7 to Oct 21. The 2,260 sq ft unit on the second floor fetched around $6.7 million ($2,964 psf) on Oct 13. The unit had been bought for about $4.17 million ($1,844 psf) in November 1996. As a result, the seller made a profit of $2.53 million (60.7%), translating to an annualised gain of 1.5% after holding the unit for 29 years.
There have been five other resale transactions at Four Seasons Park so far this year, four of which were profitable, with gains ranging from $1.5 million to $4 million.
A 2,260 sq ft unit at Four Seasons Park was sold for $6.7 million ($2,964 psf) on Oct 13, reaping gains of $2.53 million (Photo: Samuel Isaac Chua/EdgeProp Singapore)
Based on lodged caveats, the most profitable transaction at the development to date involved a 6,157 sq ft duplex penthouse unit on the 26th floor that changed hands for $17.88 million ($2,904 psf) in December 2019. The unit had been previously purchased for around $9 million ($1,462 psf). Hence, the seller earned a profit of $8.88 million (98%), which translates to an annualised profit of 4% over more than 17 years.
Four Seasons Park is a freehold condo located along Cuscaden Walk, near the Orchard Road shopping belt in prime District 10. Completed in 1994, the 202-unit development holds the distinction of being Singapore’s first hotel-branded residence at the time of its launch. It comprises three 26-storey residential towers, which house three- to four-bedroom units spanning 2,359 sq ft to 4,032 sq ft. There are also eight penthouses measuring 6,036 sq ft to 7,772 sq ft.
Meanwhile, the sale of a four-bedroom unit at Parvis was the second most profitable transaction during the period under review. The 3,229 sq ft unit on the 12th floor fetched $7.2 million ($2,230 psf) on Oct 17. The seller acquired the unit for around $4.85 million ($1,503 psf) in April 2010. Thus, they made a gain of $2.35 million (48.4%) and an annualised profit of 2.6% over 15½ years.
This marks the most profitable resale at Parvis so far this year. It surpasses the previous record set by the sale of a 2,605 sq ft unit for $5.4 million ($2,073 psf) in November 2022. The seller, who purchased the unit from the developer in December 2009 for $3.2 million ($1,230 psf), made a profit of about $2.2 million on the sale.
A four-bedroom unit at Parvis fetched $7.2 million on Oct 17, making a gain of $2.35 million (Photo: Samuel Isaac Chua/EdgeProp Singapore)
Completed in 2012, Parvis is a freehold condo located on Holland Hill in prime District 10. The 248-unit development comprises three 12-storey residential blocks, featuring a mix of two- to four-bedders of 990 sq ft to 2,605 sq ft. There are also three- and four-bedroom penthouses spanning between 2,293 sq ft and 3,229 sq ft. The condo is located within a five-minute walk of Holland Village MRT Station on the Circle Line.
On the other hand, the sale of a three-bedroom unit at Marina Collection was the most unprofitable condo resale transaction during the period in review. The 1,873 sq ft unit on the third floor changed hands for $3 million ($1,602 psf) on Oct 13. The seller bought the unit for around $5.1 million ($2,722 psf) in December 2007. Hence, they incurred a loss of $2.1 million (41.1%) after owning the unit for almost 18 years.
The unit is the second resale transaction recorded so far this year at Marina Collection. Before that, a 3,272 sq ft, four-bedroom unit on the first floor was sold for $4.95 million ($1,513 psf) on July 4. The seller, who bought the unit in January 2008 for $8.62 million ($2,636 psf), made a loss of about $3.68 million.
The 1,873 sq ft unit at Marina Collection changed hands for $3 million on Oct 13, incurring a loss of $2.1 million (Photo: Samuel Isaac Chua/EdgeProp Singapore)
Completed in 2011, Marina Collection is a 99-year leasehold condo within the exclusive Sentosa Cove enclave. The 124-unit development, developed by Indonesian conglomerate Lippo Group, features three four-storey blocks offering a mix of three- to five-bedroom units ranging from 1,873 sq ft to 4,725 sq ft.
Based on resale caveats compiled by EdgeProp Singapore, transactions at Marina Collection have largely been unprofitable, with at least 22 unprofitable sales compared to just two profitable sales.
The most unprofitable deal at the development to date came from the sale of a 3,272 sq ft unit for $4.65 million ($1,421 psf) in April 2023. The unit was bought for $9.3 million ($2,841 psf) in March 2008, resulting in the seller suffering a record loss of $4.65 million (50%).
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