The sale of a maisonette unit at Sommerville Park, a freehold development on Farrer Drive, was the most profitable resale deal from March 11 to 18. The property, which has a strata area of 1,615 sq ft, changed hands for $3.45 million ($2,137 psf) on March 13. Caveats lodged with URA show that the unit last changed hands in November 2006 for $1.24 million ($766 psf). This means the seller netted a profit of $2.21 million on the deal, representing a capital gain of 179% and an annualised profit of 9.4% over a holding period of nearly 18½ years.
The sale of another unit at Sommerville Park was the second most profitable resale deal during the week. A three-bedroom apartment unit spanning 1,948 sq ft on the 12th floor fetched $4.43 million ($2,274 psf) on March 17. The seller, who bought the unit in 2015 for $2.7 million ($1,386 psf), made a gain of $1.73 million (64.1%), or an annualised profit of 6.4% over 10 years.
The 1,615 sq ft, strata landed unit at Sommerville Park changed hands for $3.45 million ($2,137 psf) on March 13 (Picture: The Edge Singapore)
Sommerville Park is a freehold development off Holland Road in District 10. Occupying a sprawling 855,571 sq ft site, it comprises four apartment blocks, double-storey maisonettes and townhouses.
The most profitable resale deal at Sommerville Park to date was the sale of a strata landed property spanning 3,294 sq ft in May 2018 for $5.05 million ($1,533 psf). The seller, who bought the property in September 2003 for $1.48 million ($449 psf), walked away with a $3.57 million profit.
Centennia Suites saw the third most profitable resale deal this week with the sale of a 1,755 sq ft, three-bedroom apartment for $5.15 million ($2,935 psf) on March 12. The seller had bought the unit from the developer in April 2010 for $3.46 million ($1,970 psf). As a result, the seller netted a gain of $1.69 million (49%) after owning the unit for about 15 years. This reflects an annualised profit of 3.3%.
The deal is the third most profitable resale transaction registered to date at the development. The record profit belongs to the sale of a 4,026 sq ft, four-bedroom apartment for $10.68 million ($2,653 psf) in January 2018. The seller, who bought the unit in May 2010 for $8.69 million ($2,158 psf), made a $1.99 million gain.
A 1,755 sq ft unit at Centennia Suites sold for $5.15 million ($2,935 psf) on March 12, netting a gain of $1.69 million (Picture: Samuel Isaac Chua/The Edge Singapore)
Centennia Suites is a freehold condo on Kim Seng Road in District 9. Completed in 2013, the 97-unit development has two- to four-bedroom units between 1,238 sq ft and 4,026 sq ft.
The unit sold on March 12 is the first resale transaction at Centennia Suites since August 2024, when a 1,787 sq ft, three-bedroom unit changed hands for $5.09 million ($2,846 psf). The seller made a $1.04 million profit, having bought the unit in February 2014 for $4.05 million ($2,267 psf).
The most unprofitable resale deal during the week was the sale of a unit at St Regis Residences Singapore. A four-bedder measuring 2,142 sq ft was sold for $5.36 million ($2,502 psf) on March 13. The unit last changed hands in September 2007 for $6.96 million ($3,250 psf), which means the seller incurred a loss of $1.6 million (23%) after owning the unit for 17½ years.
A 1,755 sq ft unit at Centennia Suites sold for $5.15 million ($2,935 psf) on March 12, netting a gain of $1.69 million (Picture: Samuel Isaac Chua/The Edge Singapore)
St Regis Residences Singapore is a 999-year leasehold development on Tanglin Road in prime District 10 that was completed in 2008. When the 173-unit project was launched in 2006, it was the first luxury hotel-branded residence in Singapore with hotel services, including butler service, housekeeping and room service. It is linked to the 299-key St Regis Singapore luxury hotel.
Typical units at St Regis Residences Singapore comprise three- and four-bedroom apartments ranging from around 1,500 sq ft to 4,000 sq ft. There are also “sky suites” on the 20th and 21st floors measuring from around 4,300 sq ft to 6,000 sq ft, along with penthouses on the 22nd and 23rd floors spanning around 5,000 sq ft to 7,200 sq ft.
