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Three-bedroom unit at Regency Park sold for $3.15 mil profit

/ EdgeProp |

June 14, 2018 7:30 AM SGT

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The sale of a 3,175 sq ft, three-bedroom unit at Regency Park on Nathan Road on May 24 was the most profitable transaction recorded in the week of May 22 to 29. The 12th floor unit changed hands for $5.6 million ($1,764 psf). The buyer therefore registered a $3.15 million gain as he had purchased the unit for $2.45 million ($722 psf) in 2003.

This is considered the most profitable transaction at the 292-unit Regency Park in prime District 10 so far this year, according to the matching of URA caveats.

Profits for units sold at the freehold condominium so far have ranged from $70,000 to $3.15 million over the past three years, based on caveats lodged. Only one unit registered a slight loss when it was sold last September. It was a four-bedroom unit on the 15th floor of one of the towers that changed hands for $6.35 million ($1,740 psf). The seller bought the unit for $6.88 million ($1,885 psf) in 2012.

The sale of a 1,722 sq ft unit at Lloyd SixtyFive was the second most profitable transaction during the week in review. The owner of the two-bedroom unit made a $1.96 million profit (53%) when it was sold on May 23. The unit was purchased from the developer for $3.73 million ($2,150 psf) in 2013.

So far, there have been seven resale transactions at the development, and units have been changing hands at an average price of $2,814 psf. Lloyd SixtyFive was launched for sale in October 2012 at an average price of $2,150 psf. The 76-unit freehold development on Lloyd Road in prime District 9 was completed in 2016.

The third most profitable transaction during the week was the sale of a 1,518 sq ft unit at City Square Residences on Kitchener Link. The seller sold the eighth-floor, three-bedroom unit for $2.28 million ($1,502 psf) on May 22. This was 2.8 times the price ($797,280) paid by the previous owner in 2005.

Profits at the freehold, 910-unit development have ranged from $1,000 to $1.66 million, with the most profitable transaction being the sale of another 1,518 sq ft, three-bedroom unit on the 21st floor. The seller sold the unit for $2.48 million ($1,634 psf) in 2013 — three times what he paid in 2005, when he purchased the unit at launch for $824,560 ($543 psf).

The largest loss recorded during the week in review was for the sale of a 3,261 sq ft unit at The Holland Collection. The seller incurred a $1.43 million (24%) loss when the unit changed hands for $4.52 million ($1,386 psf) on May 25. The unit was purchased from the developer for $5.95 million ($1,824 psf) in 2010. This was the second resale transaction at the 26-unit freehold development, which was completed in 2011.

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