The sale of a four-bedroom unit at The Claymore was the most profitable resale transaction during the week of March 25 to April 1. The 3,348 sq ft unit on the 11th floor fetched $11.38 million ($3,399 psf) when it was sold on March 26, and after the unit had been bought for $5.01 million ($1,497 psf) back in 1999. This resulted in a profit of $6.37 million (127%), equating to an annualised gain of 3.3% over 25½ years.
On Feb 17, a 2,680 sq ft unit at The Claymore was sold for $8.28 million ($3,089 psf), generating a profit. The three-bedroom unit on the 19th floor had been purchased for $3.7 million ($1,380 psf) in September 2000. The seller raked in a profit of $4.58 million (123%), which translates to an annualised profit of 3.3% over 24 years.
According to resale caveats, the most profitable transaction at The Claymore occurred five years ago, when a 4,919 sq ft unit on the 25th floor sold for $17 million ($3,456 psf) in April 2020. The five-bedroom unit had previously fetched $8 million ($1,626 psf) in March 2002. As a result, the seller made a record profit of $9 million (112%), equivalent to an annualised gain of 4.2% over 18 years.
The 3,348 sq ft unit at The Claymore was sold for $11.38 million on March 26. (Picture: Samuel Isaac Chua/The Edge Singapore)
The Claymore is a freehold condo on Claymore Road, located in prime District 9. The 146-unit development was completed in 1985 and is just minutes from the Orchard Road shopping belt and the exclusive Ardmore Park neighbourhood. The condo is also near The Tanglin Club at Stevens Road, The American Club on Claymore Hill and the Royal Thai Embassy on Orchard Road.
The second most profitable transaction during the week involved a 2,648 sq ft unit at The Regalia, which was sold for $5.56 million ($2,134 psf) on March 26. The four-bedroom unit on the 21st floor had been bought for $1.38 million ($521 psf) in March 2004, and the seller raked in a profit of $4.27 million (309%) or an annualised profit of 6.9% over 21 years.
This marks the most profitable resale transaction at The Regalia to date, surpassing the previous record set last year when a 2,573 sq ft unit sold for $5.76 million ($2,239 psf). That unit had been purchased for $4 million ($1,555 psf) in August 2012, yielding a profit of $1.76 million (44%), or an annualised return of 3.2% over 11 years.
The Regalia is a 116-unit condo on River Valley Close in prime District 9. The freehold development was completed in 1993 and consists of three- and four-bedroom units of 1,216 sq ft to 2,648 sq ft. The development is close to River Valley Primary School at River Valley Green, Great World City at Kim Seng Promenade and Great World MRT Station on the Thomson-East Coast Line. Nearby condos include The Avenir on River Valley Close, 8 Saint Thomas on St Thomas Walk, and Yong An Park on River Valley Road.
The sale of a four-bedroom unit at The Regalia on March 26 resulted in a profit of $4.27 million. (Picture: Samuel Isaac Chua/The Edge Singapore)
A compilation of caveats by EdgeProp Singapore shows that the average resale price at The Regalia is about $2,310 psf. This is higher than some older freehold condos in the area, such as La Crystal at Killiney ($2,096 psf) and The Morningside at Jalan Kuala ($2,185 psf). However, newer freehold condos command significantly higher prices, such as The Avenir, which was completed last year and has an average price of $3,470 psf, as well as the seven-year-old 8 Saint Thomas, where prices are about $2,910 psf.
However, the least profitable transaction of the week occurred at Orchard Scotts, where a 2,282 sq ft unit was sold for $3.9 million ($1,709 psf) on March 25. The four-bedroom unit on the seventh floor had been purchased for $4.33 million ($1,897 psf) in June 2013. As a result, the seller incurred a loss of $430,000 (9.9%), equivalent to an annualised loss of 0.8% over 11 years.
There have been three resale transactions at Orchard Scotts so far this year, and two have resulted in a loss. The other unprofitable transaction took place on Feb 25 when a 1,696 sq ft unit changed hands for $3.77 million ($1,696 psf) after it had been bought for $3.32 million ($1,955 psf) back in July 2010. This seller incurred a loss of $576,000 (13%) or an annualised loss of 0.9% over 14 years.
A 2,282 sq ft unit at Orchard Scotts was sold for $3.9 million ($1,709 psf) on March 25. (Picture: Samuel Isaac Chua/The Edge Singapore)
Based on a compilation of resale caveats by EdgeProp Singapore, the selling price at Orchard Scotts has declined in recent years, falling from about $2,100 psf in April 2006 to $1,910 psf in April 2016. The price has dropped to about $1,490 psf this month.
Orchard Scotts is a 99-year leasehold condo on Anthony Road, off Clemenceau Avenue North, in prime District 9. The 387-unit development was completed in 2008 and has a mix of two- to five-bedroom units of 936 sq ft to 4,435 sq ft.
