Resale three-bedder at The Claymore nets $3.33 mil profit
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The sale of a three-bedroom unit at The Claymore was the most profitable condo resale transaction over the period of Nov 25 to Dec 2. The 2,680 sq ft unit on the 22nd-floor changed hands for $8.2 million ($3,059 psf) on Nov 25. The unit was bought for about $4.87 million ($1,817 psf) in March 1997. Thus, the seller raked in a profit of $3.33 million (68.4%), or an annualised gain of 1.8%, after holding the unit for almost 29 years.
According to caveats lodged, the most profitable resale transaction at The Claymore remains the sale of a 4,919 sq ft unit for $17 million ($3,456 psf) five years ago in April 2020. The five-bedroom unit had previously fetched $7.99 million ($1,626 psf) in March 2002. As a result, the seller made a record profit of $9 million (112%), equating to an annualised gain of 4.2% over 18 years.
The sale of a three-bedroom unit at The Claymore on Nov 25 resulted in a profit of $3.33 million (Photo: Samuel Isaac Chua/EdgeProp Singapore)
The Claymore is a freehold condo completed in 1985, offering 146 units ranging from three- to five-bedroom units spanning 2,680 sq ft to 4,919 sq ft. Located along Claymore Road in prime District 9, the development is within walking distance to the Orchard Road shopping belt and The American Club on Claymore Hill. It is also near the exclusive Ardmore Park neighbourhood, known for luxury condos such as Sculptura Ardmore, Ardmore Park, and Le Nouvel Ardmore.
The development has recorded two other resale transactions so far this year, both profitable. The units, measuring 3,348 sq ft and 2,680 sq ft, netted gains of $6.37 million and $4.58 million, respectively.
The second most profitable transaction during the week involved a 1,346 sq ft unit at The Atria at Meyer, which was sold for $3.23 million ($2,401 psf) on Nov 26. The owner, who bought the three-bedroom unit on the seventh floor for $873,554 ($649 psf) in November 1998, reaped a capital gain of $2.36 million (270%). This translates to an annualised profit of 5% over a holding period of just over 27 years.
The 1,346 sq ft unit at The Atria at Meyer was sold for $3.23 million ($2,401 psf) on Nov 26 (Photo: Samuel Isaac Chua/EdgeProp Singapore)
The latest deal at The Atria at Meyer marks the most profitable resale transaction at the development to date. It beats the previous record gain of $2.25 million from the sale of a 1,475 sq ft unit on the 11th floor. The seller purchased the three-bedroom unit for $930,000 ($631 psf) in April 2005. It was later sold for $3.18 million ($2,156 psf) in December 2023, which means the seller made an annualised gain of 6.8% after holding the unit for almost 19 years.
Completed in 1996, The Atria at Meyer comprises 158 apartments, including a mix of two- to four-bedroom units ranging from 1,044 sq ft to 2,949 sq ft. Located along Meyer Road in District 15, the development is opposite East Coast Park.
On the other hand, the biggest loss during the period in review was incurred by the seller of a three-bedroom unit at Lucky Plaza. The 1,647 sq ft unit on the 15th floor of the development changed hands for $2.95 million ($1,791 psf) on Nov 28. It was previously purchased for $3.66 million ($2,222 psf) in July 2008. The seller therefore suffered a loss of $709,857 (19.4%), or an annualised loss of 1.2% over more than 17 years.
The 1,647 sq ft unit at Lucky Plaza changed hands for $2.95 million ($1,791 psf) on Nov 28 (Photo: Samuel Isaac Chua/EdgeProp Singapore)
Lucky Plaza is a 30-storey freehold mixed-use development along Orchard Road, comprising both commercial and residential components. Completed in 1981, it houses 88 residential units, ranging from two to five bedrooms, on levels nine to 30.
Based on lodged caveats, there has been just one other residential resale transaction at Lucky Plaza this year so far. On Sept 1, another 1,647 sq ft unit on the 14th floor was sold for $2.96 million ($1,794 psf), which resulted in a gain of $346,112.
Check out the latest listings for The Atria At Meyer properties
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