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Year in Review 2019: Top 10 private property gains in Singapore
SINGAPORE — We look at the characteristics of the top ten most profitable private resale transactions of the year 2019. For one, the list comprised entirely of freehold properties. Most are mature developments, with the oldest residence being completed in 1978. In addition, an overwhelming majority of the condominiums were located at the heart of town in District 9 and 10, with the exception of Astrid Meadows, which is located at Bukit Timah in District 8.
Project | District | Area (sq ft) | Sales Price (S$psf) | Purchase Price (S$psf) | Profit ($) | Profit (%) | Annualised profit (%) | Holding Period (Years) | |
1 | HONOLULU TOWER | 10 | 5,823 | 1,563 | 601 | 5,600,000 | 160% | 6% | 17.8 |
2 | ARDMORE PARK | 10 | 2,885 | 3,432 | 1,560 | 5,400,000 | 120% | 5% | 16.4 |
3 | REGENCY PARK | 10 | 3,649 | 1,913 | 734 | 4,300,000 | 160% | 5% | 20.7 |
4 | ARDMORE PARK | 10 | 2,885 | 3,356 | 1,919 | 4,144,634 | 75% | 3% | 21.9 |
5 | FOUR SEASONS PARK | 10 | 2,874 | 2,818 | 1,409 | 4,050,000 | 100% | 5% | 14.0 |
6 | YONG AN PARK | 9 | 3,229 | 1,883 | 706 | 3,800,000 | 167% | 7% | 14.3 |
7 | ARDMORE PARK | 10 | 2,885 | 2,773 | 1,477 | 3,740,000 | 88% | 4% | 17.1 |
8 | PETAIN RD/TYRWHITT RD CONSERVATION AREA | 8 | 1,507 | 2,980 | 520 | 3,715,000 | 473% | 14% | 13.0 |
9 | ASTRID MEADOWS | 10 | 3,800 | 1,829 | 921 | 3,450,000 | 99% | 5% | 13.9 |
10 | CAIRNHILL PLAZA | 9 | 2,820 | 1,803 | 585 | 3,435,000 | 208% | 7% | 17.6 |
(Source: EdgeProp)
1. Honolulu Towers
On 23 July 2019, the sale of a 5,823 sqft, four-bedroom apartment of the freehold Honolulu Towers along Bukit Timah Road made history as the most profitable private residential resale transaction of the year. With only thirty units in the complex, the sale was the first in nearly seven years since 2012.
Nestled in the heart of Tanglin in District 10, the 12th-floor unit was bought for S$3.5 million dollars on 15 October 2001, at S$601 psf. About 17.8 years after, the apartment was sold at a handsome profit of S$9.1 million dollars at S$1,563 psf, producing returns of investment for the original homeowner at 160%, or an estimated annualised profit of 6% per year.
2. Ardmore Park
Three resale transactions at the Ardmore Park clinched number 2, 4 and 7 on the list. The freehold condominium within bustling Newton of District 10 comprises of 330 units and was completed in 2001.
All three resales transactions also comprised of four bedroom apartments spanning 2,885 sq ft each.
The sale of a 24th floor unit on 30 January 2019 for S$9.9 million at S$3,432 psf netted the seller a total of S$5.4 million, or at 5% annualised profit a year, for the second highest resale transaction in Singapore this year. The apartment was bought on 30 August 2002 at S$1,560 psf for a total of S$4.5 million dollars.
3. Regency Park
The sale of a fifth floor apartment spanning 3,649 sq ft at the 292-unit freehold Regency Park condominium was the third most profitable deal of the year. The previous owner had purchased the District 10 apartment on 9 February 1999 at S$2.68 million, or S$734 psf. After 20.7 years of ownership, the apartment exchanged hands at S$6.98 million at S$1,913 psf on 10 October 2019, sealing a total of 160% profit or 5% annualised profit per year.
4. Ardmore Park
A unit on the 17th floor unit was sold in January for S$9.68 million, at S$3,356 psf, securing S$4.14 million in total profit after a holding period of 21.9 years. It was bought for S$5.54 million on 24 February 1997. This translates to an overall profit of 75%, about 3% annualised profit per year.
5. Four Seasons Park
Completed in 1994, the 202-unit freehold Four Seasons Park condominium made it to top five on the list with the sale of a 24th floor apartment spanning 2,874 sq ft on the 17 October 2019.
The previous homeowner purchased the apartment on 26 October 2005 at S$4.05 million for S$1,409 psf. After 14 years of home ownership, the apartment was sold at S$8.1 million at S$2,818 psf, sealing a total of 100% profit or 5% annualised profit per year for its seller.
6. Yong An Park
On 30 July 2019, the sale of a 14th floor apartment spanning 3,229 sq ft at the 288 unit freehold Yong An Park condominium marked the sixth most profitable deal of the year. The previous homeowner purchased the District 9 apartment on 15 April 2005 at S$2.28 million for S$706 psf. After 14.3 years of home ownership, the apartment was sold for S$6.08 million or S$1,883 psf, marking a total overall profit of 167% profit or an 7% annualised profit per year.
7. Ardmore Park
On 31 May 2019 another 17th floor apartment at Ardmore Park exchanged hands for S$8 million, at S$2,773 psf. It secured S$3.74 million in profit after 17.1 years, or an overall profit margin of 88%, about 4% annualised profit per year. The unit was bought for S$4.26 million on 9 May 2002.
8. Petain Road/Tyrwhitt Road Conservation Area
The only District 8 apartment sale on the list was from that of the Petain Road/Tyrwhitt Road Conservation Area condominium in Kallang. On 5 September 2019, the 1,507 sq ft apartment was transacted for a total profit of S$4.49 million or S$2,980 psf, for a gain of 473%, the highest on the list in terms of percentage, or 14% annualised profit per year after 13 years of home ownership.
The previous owner had bought the unit on 30 August 2006 at S$783,612 at S$520 psf. With a handsome profit of S$3.715 million, this sale definitely stands out for its investment turnover, being one of the smallest apartments on the list.
9. Astrid Meadows
On 30 August 2019, the sale of a 3,800 sq ft apartment on the fifth floor of the 208-unit freehold Astrid Meadows condominium in Bukit Timah made the list at no. 9. The District 10 apartment was purchased on 18 October 2005 at S$3.50 million or S$921 psf. After 13.9 years of ownership, the apartment exchanged hands at S$6.95 million at S$1,829 psf, for a profit of S$3.45 million, or 5% annualised profit per year.
10. Cairnhill Plaza
Last but not least, the sale of a 35th floor apartment of 2,820 sqft on 26 July 2019 rounds up the list of most profitable resale transactions for the year. The apartment at the 204-unit freehold Cairnhill Plaza as sold at S$5.085 million or S$1,803 psf. The owner bought the District 9 apartment on 6 December 2001 at S$1.65 million. After 17.6 years years, it was sold at a profit of S$3.434 million, marking a 208% profit or 7% annualised profit per year. a
*This story is contributed by EdgeProp.sg
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