Sale of unit at Park Infinia reaps $1.35 mil profit

SINGAPORE (EDGEPROP) - The most profitable deal recorded for the week of Sept 3 to 10 was the sale of a four-bedroom unit at Park Infinia at Wee Nam, on Lincoln Road. The seller made a $1.35 million (79%) profit when the 1,464 sq ft unit was sold for $3.05 million ($2,083 psf) on Sept 10, translating to an annualised profit of 5% over 12 years. The unit had been bought for $1.7 million ($1,161 psf) in March 2007.
Located in prime District 11, the 486-unit Park Infinia is a freehold condo that was completed in 2008. The development comprises one- to four-bedroom units of 560 sq ft to 2,002 sq ft, as well as penthouses of 2,702 to 3,315 sq ft.
The 1,464 sq ft unit at Park Infinia at Wee Nam was sold for $3.05 million on Sept 10 (Pictures: Samuel Isaac Chua/EdgeProp Singapore)
The most profitable deal at the condo is the sale of a penthouse unit on the 29th floor. The 3,240 sq ft unit was sold for $5.11 million ($1,577 psf) last September, but had been bought for $2.4 million ($741 psf) in August 2005. The seller walked away with a $2.71 million ($112%) profit, or an annualised profit of 6% over 12 years.
The second most profitable deal during the week was the transaction for a three-bedroom unit at Maple Woods, a 697-unit freehold condo on Bukit Timah Road. The 1,335 sq ft unit was sold for $2.08 million ($1,558 psf) on Sept 5. It had been bought for $808,000 ($605 psf) in 2005. The seller made a $1.27 million (157%) profit, or an annualised profit of 7% over 14 years.
For price trends, recent transactions, other project info, check out these projects' research page: Park Infia at Wee Nam, Maple Woods, 111 Emerald Hill
Located between King Albert Park MRT Station on the Downtown Line and Methodist Girls’ School, Maple Woods is a 22-year-old development...