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Seller rakes in $1.84 mil profit from The Arcadia unit

/ EdgeProp Singapore |

April 23, 2020 7:30 AM SGT

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SINGAPORE (EDGEPROP) - A five-bedroom unit at The Arcadia in prime District 11 was sold for $6.94 million ($925 psf) on April 9, making it the most profitable sale during the week of April 7 to 14. The 7,502 sq ft unit had been bought for $5.1 million ($680 psf) in 2016, which means that the owner made a profit of $1.84 million (36%) from the sale. This translates to an annualised profit of 8% over four years.

The Arcadia is a 99-year leasehold development that was completed in 1983. It is located off Adam Road and comprises 164 units. It has three- to five-bedroom units from 3,466 sq ft to 7,503 sq ft.

A five-bedroom unit at The Arcadia fetched $6.94 million ($925 psf) on April 9. (Picture: Samuel Isaac Chua/The Edge Singapore)

The latest transaction is also the first resale at the condo this year. In 2019, the development recorded nine resale transactions, based on the matching of URA caveats. Three were profitable and raked in $1.05 million to $1.96 million, while another three incurred losses of $440,000 to $1.2 million. The remaining transactions have no matching caveats.

Meanwhile in Ang Mo Kio, a three-bedroom unit at The Gardens at Bishan changed hands for $1.38 million ($1,198 psf) on April 14. The owner of the 1,152 sq ft unit purchased it for $526,464 ($457 psf) in January 2002. This means that he reaped an $853,560 (162%) profit, which translates to an annualised profit of 5% over 18 years.

The Gardens at Bishan is a 99-year leasehold development on Sin Ming Walk in District 20. The 756-unit development was completed in 2004 and comprises four blocks of 20-storey residential towers. There are a mix of two- to four-bedroom units from 861 sq ft to 2,756 sq ft there.

There have been five resale transactions at The Gardens at Bishan since the start of this year, and all have been profitable. The most recent sale is also the most profitable so far this year, and other sales have raked in $498,000 to $750,000 in profits.

Lastly, the sales of two units at Tivoli Grande appeared on the most unprofitable deals list during the week. The week’s most unprofitable transaction occurred on April 9 when the seller of a 1,528 sq ft unit incurred a $330,000 (20%) loss, as the property was sold for $1.32 million ($864 psf). It had been purchased for $1.65 million ($1,079 psf) in August 2017. The sale resulted in an annualised loss of 8% over close to three years for the seller.

In addition, the sale of an 850 sq ft unit at Tivoli Grande incurred a $4,000 (0.4%) loss when the unit changed hands for $994,500 ($1,170 psf), also on April 9. It had been purchased for $998,750 ($1,175 psf) in March 2011. This translates to an annualised loss of 0.04% over nine years.

Tivoli Grande is an 82-unit, freehold development on Koon Seng Road and was completed in 2014. It comprises one- to three-bedroom units of 560 sq ft to 1,389 sq ft.

The sales of two units at Tivoli Grande incurred losses of $4,000 and $330,000 on April 9. (Picture: Samuel Isaac Chua/The Edge Singapore)

Check out the latest listings near The Arcadia, The Gardens at Bishan, Tivoli Grande, MRT Stations and Schools

For price trends, recent transactions, other project info, check out these projects' research page: The Arcadia, The Gardens at Bishan, Tivoli Grande

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