Resale four-bedder at Viva sold for $2.22 mil profit

The sale of a four-bedroom apartment at Viva was the most profitable condo resale transaction from April 29 to May 6. The 1,959 sq ft unit on the fifth floor fetched $5.02 million ($2,562 psf) on May 2. The seller had purchased the unit from the developer for $2.8 million ($1,431 psf) in September 2009. Thus, the seller raked in a profit of $2.2 million (79%), or an annualised profit of 3.8% over a holding period of nearly 16 years. 

Based on caveats lodged, this is the most profitable resale deal at Viva. It surpasses the previous record gain of $1.83 million from the sale of a 1,841 sq ft unit on the 16th floor for $4.55 million ($2,472) in March of last year. The seller had bought the four-bedder from the developer for $2.72 million ($1,480 psf) in September 2009.

The new high at Viva comes with the resale of a 1,959 sq ft unit for $4.05 million on May 2. (Picture: Samuel Isaac Chua / The Edge Singapore) 

Completed in 2012, Viva is a freehold condo situated off Thomson Road in District 11. The development is near several malls, including United Square Shopping Mall, Goldhill Shopping Centre and Goldhill Plaza mall. The condo is also within walking distance to St Joseph’s Institution Junior. 

Viva features three 30-storey blocks with two- to four-bedroom units, ranging from 1,323 sq ft to 1,991 sq ft. The development also comprises five-bedroom “Sky Suites” spanning 2,486 sq ft to 3,810 sq ft and five-bedroom duplex penthouses of 4,909 sq ft to 6,339 sq ft. 

The second-most profitable resale during the week occurred at The Tessarina. On May 5, a 1,335 sq ft unit on the sixth floor sold for $3.1 million ($2,323 psf). The seller, who bought the three-bedder for about $920,000 ($689 psf) in November 2006, netted a gain of $2.18 million, or 237%, after owning the unit for 18.5 years. 

This is the biggest profit ever recorded for a unit at The Tessarina. It beats the previous top gain of $1.98 million from the resale of a 1,367 sq ft, three-bedroom unit at the development for $3 million ($2,195 psf) last September. The unit had previously changed hands for $1.02 million ($746 psf) in November 2006. 

A 1,335 sq ft unit at The Tessarina sold for $3.1 million on May 5, netting a gain of $2.18 million. (Picture: Samuel Isaac Chua / The Edge Singapore) 

The Tessarina is situated on Wilby Road, off Bukit Timah Road in prime District 10. Completed in 2003, the freehold development comprises 443 units and is within an 11-minute walk to King Albert Park MRT Station on the Downtown line. The development has two- to four-bedroom units of 926 sq ft to 3,671 sq ft.

Meanwhile, the most unprofitable deal during the week was the sale of a 1,755 sq ft unit at Sui Generis. The three-bedroom apartment on the fifth floor fetched $3.9 million ($2,223 psf) on May 2. The unit was previously purchased for $4.77 million ($2,717 psf) in April 2008. Thus, the seller incurred a loss of $867,842 (18%), or an annualised loss of 1.2% over 17 years. 

There have been two other resale transactions at Sui Generis this year, one of which was also unprofitable. A 2,121 sq ft four-bedder changed hands for $5.08 million ($2,396 psf) on March 5, resulting in a loss of about $397,000. The seller had purchased the unit for $5.48 million ($2,583 psf) in October 2007.

A three-bedroom apartment at Sui Generis fetched $3.9 million ($2,223 psf) on May 2, incurring a loss of $867,842. (Picture: Samuel Isaac Chua / The Edge Singapore) 

Located along Balmoral Crescent in District 10, Sui Generis is a  40-unit development that comprises three 11-storey blocks. The freehold development houses a mix of three- and four-bedroom units, ranging from 1,572 sq ft to 2,637 sq ft. The development is within walking distance to Anglo-Chinese School (Primary) and Anglo-Chinese School (Barker Road), and is near Balmoral Plaza.