Resale four-bedder at Yong An Park reaps $6.55 mil profit
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The sale of a four-bedroom unit at Yong An Park was the most profitable resale transaction over the period from Sept 23 to 30. The seller of the 3,434 sq ft unit made a profit of $6.55 million (256.9%) when it was sold for $9.1 million, or $2,650 psf, on Sept 25. The unit had been purchased for $2.55 million ($743 psf) in April 2004. This translates to an annualised profit of 6.1% over 21½ years.
The transaction on Sept 25 marks the fourth most profitable deal to date at Yong An Park. It falls about $2.15 million short of the development’s record gain of $8.7 million, which was established with the sale of a 6,577 sq ft penthouse for $12.5 million ($1,901 psf) in September 2021. The seller, who had previously purchased the unit for around $3.8 million ($578 psf), reaped an annualised gain of 5.7% over more than 21 years.
A 3,434 sq ft unit at Yong An Park changed hands for $9.1 million on Sept 25 (Photo: Samuel Isaac Chua/EdgeProp Singapore)
Completed in 1986, Yong An Park is a freehold condo located on River Valley Road in prime District 9. The 288-unit development houses a mix of one- to four-bedroom units measuring from 1,023 sq ft to 3,778 sq ft, as well as three- to five-bedroom penthouses of 3,466 sq ft to 6,878 sq ft. It also has six-bedroom strata-titled townhouses.
Based on lodged caveats, four transactions have been recorded at the development this year, including the unit sold on Sept 25. All of the deals were profitable, with the sellers netting gains ranging from $1.23 million to $6.5 million.
Meanwhile, the sale of a three-bedroom unit at Sky@Eleven recorded the second-highest gain at the condo during the period in review. The 2,271 sq ft unit on the 16th floor fetched $5.15 million ($2,268 psf) on Sept 26. The seller acquired the unit in March 2007 for about $2.23 million ($980 psf). Thus, they made a gain of around $2.93 million after owning the unit for around 18½ years. This works out to a capital gain of 131.5% for the seller.
A 2,271 sq ft unit at Sky@Eleven fetched $5.15 million ($2,268 psf) on Sept 26 (Photo: Samuel Isaac Chua/EdgeProp Singapore)
Sky@Eleven is a freehold condo along Thomson Lane within the Toa Payoh area in prime District 11. Completed in 2010, the development offers 273 units spread across four residential blocks. It comprises a mix of three-bedroom+study units spanning 1,851 sq ft, and four-bedroom units measuring between 2,271 sq ft and 2,820 sq ft. There are also four- and five-bedroom duplex penthouses of 3,757 to 5,597 sq ft.
The Sept 26 transaction yielded the fifth-highest profit recorded at Sky@Eleven so far. The record profit logged at the development belongs to the sale of a 2,713 sq ft, four-bedroom unit for $6.48 million ($2,389 psf) in April 2024. The seller, who had purchased the unit in March 2007 for about $2.8 million ($1,031 psf), netted a profit of $3.68 million.
On the other hand, the most unprofitable transaction during the week occurred at The Reef at King’s Dock. An 883 sq ft, two-bedroom unit on the sixth floor was sold in a sub-sale for $1.47 million ($1,666 psf) on Sept 26. The seller had purchased the unit from developers for around $2.12 million ($2,404 psf) in July 2021. Hence, the seller incurred a loss of $651,654 (30.7%), or an annualised loss of 8.3% after holding the unit for slightly over four years.
A two-bedroom unit at The Reef at King’s Dock transacted for $1.47 million on Sept 26
This marks the first unprofitable transaction at The Reef at King’s Dock. Since its completion in 2024, the development has recorded 31 sub-sale transactions at an average price of around $2,557 psf.
The Reef at King’s Dock is a 99-year leasehold condo located at Harbourfront Avenue in District 4. The 429-unit development houses a mix of one- to three-bedroom units spanning 431 sq ft to 1,572 sq ft. It is near the Harbourfront area, and is within walking distance of VivoCity and the Harbourfront MRT interchange station on the Circle and North-East Lines.
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