Three-bedroom unit at The Anchorage sold for $1.73 mil profit
/ EdgeProp Singapore |
SINGAPORE (EDGEPROP) - A three-bedroom unit at The Anchorage, a freehold condo along Alexandra Road in District 3, recorded the most profitable condo resale transaction during the week of May 9 to 16. This is based on caveats lodged as of May 23. The 1,830 sq ft unit on the fourth floor changed hands for $3.14 million ($1,715 psf) on May 12, with the seller making a gain of $1.73 million. They had purchased the unit for $1.41 million ($770 psf) in July 1997. Thus, they made a 123% capital gain over a holding period of nearly 26 years.
The 1,830 sq ft unit at The Anchorage changed hands for $3.14 million on May 12 (Picture: Samuel Isaac Chua/The Edge Singapore)
The Anchorage is a freehold property by Frasers Property with 775 units across five residential blocks. Completed in 1995, it was the developer’s first residential project, and was a redevelopment of F&N Singapore’s old Anchor Brewery site. The condo is adjacent to the Anchorpoint Shopping Centre, which is located opposite Ikea Alexandra. The condo is also a 10-minute walk to the Queenstown MRT Station on the East-West Line.
There have been seven other resale transactions to date at The Anchorage this year, all of which have been profitable deals for their respective sellers. The units, measuring from 1,173 to 1,830 sq ft, fetched between $1.95 million and $3.2 million, or between $1,662 and $1,837 psf. The seller made gains ranging from $320,000 all the way up to $1.73 million.
Casuarina Cove saw the second-most profitable transaction during the week in review. This is the sale of a 1,528 sq ft, three-bedroom unit for $2.34 million ($1,530 psf) on May 15. It was purchased by the seller for $928,000 ($607 psf) in April 2002. Hence, they made a gain of $1.4 million (152%) after holding the apartment for slightly over 21 years.
This is the most profitable transaction at Casuarina Cove, based on data compiled by the EdgeProp Research tool. It beats the previous record set last October; the seller of a 1,216 sq ft unit on the eighth floor made a gain of $1.18 million when it sold for $1.73 million ($1,422 psf).
The seller of a unit at Casuarina Cove made a gain of $1.4 million when their 1,528 sq ft unit fetched $2.34 million on May 15 (Picture: Albert Chua/The Edge Singapore)
Casuarina Cove is a 160-unit condo by Keppel Land along Tanjong Rhu Road in District 15. Completed in 1996, the 99–year leasehold development has one- to four-bedroom units measuring between 753 and 2,949 sq ft.
Meanwhile, the most unprofitable transaction during the week in review was the sale of a four-bedroom apartment at Cliveden At Grange. The 2,842 sq ft unit changed hands for $8.1 million ($2,850 psf) on May 15. It had been purchased by the seller in August 2007 for $9.5 million ($3,344 psf), which means they made a loss of $1.4 million, or 15%, over a holding period of nearly 16 years.
Based on data compiled on EdgeProp Research, the most unprofitable resale transaction at Cliveden At Grange was that of a 2,153 sq ft, four-bedroom unit, which fetched $5.7 million ($2,648 psf) in April 2022. The unit was purchased for $8.34 million ($3,875 psf) in August 2007. Thus, the seller made a record loss of $2.64 million (32%) over close to 15 years.
The sale of a 2,842 sq ft unit at Cliveden At Grange for $8.1 million on May 15 led to a loss of $1.4 million (Picture: Samuel Isaac Chua/The Edge Singapore)
Cliveden At Grange is a freehold luxury condo along Grange Road in prime District 10. The 110-unit development is close to the Orchard Road shopping belt, as well as to other high-end residential projects along Orchard Boulevard and Cuscaden Road.
Check out the latest listings near The Anchorage, Casuarina Cove, Cliveden at Grange, Queenstown MRT Station
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