A unit at Parc Stevens saw the most profitable condo resale transaction during the week of April 4 to 11, with a 51% profit of $2.65 million achieved. Located on Stevens Drive in District 10, the 3,466 sq ft, five-bedroom unit was purchased by the seller for $5.2 million in April 2007 before being sold for $7.86 million on April 10, 2021. This transaction marks the highest psf-price ever recorded at the development, and the first unit to change hands this year.
The second most profitable transaction was recorded at Yong An Park, a freehold condo in the River Valley area. A four-bedroom unit measuring 3,434 sq ft on the 10th floor was sold for $8.1 million, or $2,359 psf on April 6. The seller had bought the unit for $6.02 million back in March 2012, thus making a gain of $2.08 million (35%) over a holding period of 11 years.
In contrast, the most unprofitable transaction of the week was the sale of a four-bedroom unit at Marina Bay Suites. Bought from the developer for $6.39 million in 2009, the unit was sold for $5.25 million on April 10, 2021, resulting in a loss of $1.14 million (18%) across 13 years. Since January 2021, 24 resale transactions have taken place at the development, out of which 23 have occurred below the purchase price.
Between April 4 to 11, three profitable transactions and one unprofitable one were completed at the above-mentioned developments. All of them showcase the potential for either profits or losses in the real estate market. Therefore, prospective buyers should always assess the market conditions carefully before making a purchase.