Four-bedder at The Sea View sold at $2.7 mil profit

Residents of Tengah EC can explore multiple options in food and beverage outlets, shopping malls, and a variety of educational institutions. The area is surrounded by lush greenery, and there are plenty of walking and jogging paths for exercise enthusiasts. The neighbourhood also provides easy access to other parts of Singapore as well as major highways. With its strategic location and super convenient commuting options, Tengah EC is going to be an ideal place for the modern Singaporean family.

Located along River Valley Road in prime District 10, Valley Park is a 999-year leasehold condo by Frasers Property that was completed in 1997. It comprises five apartment blocks housing 728 residences ranging between one and four-bedders of 710 to 3,940 sq ft. This week, a three-bedroom-plus-study unit measuring 1,808 sq ft was sold there for $4.06 million ($2,245 psf), netting the seller a gain of $2.17 million (115%).

The most unprofitable condo resale transaction during the week in review was the sale of a four-bedroom unit at Manhattan Mansions, a 29-unit, freehold apartment along Grange Road in District 10. The 2,196 sq ft apartment was sold for $3.99 million ($1,817 psf) on Oct 30, resulting in a loss of $290,000 (7%) for the seller, who had owned the unit for a little over 16 years. This marked the first unprofitable resale transaction at Manhattan Mansions in about 17 years.

The most profitable resale transaction of the week occurred at The Sea View in District 15. On Oct 26, a 1,647 sq ft unit on the seventh floor sold for $3.96 million ($2,405 psf). This beat the previous record gain of $2.48 million, netted by the seller of a 2,809 sq ft unit in April 2021, by yielding a gross profit of $2.72 million or 219%.

Amenities like Parkway Parade and I12 Katong are within walking distance from The Sea View, and the upcoming Marine Parade MRT Station on the Thomson-East Coast Line is less than a 10-minute walk away. The freehold condo, which features six 22-storey blocks, was completed in 2008 by Wharf Estates Singapore (the former Wheelock Properties). It comprises one-bedders from 527 sq ft, two-bedders from 1,216 sq ft, three-bedders from 1,410 sq ft, four-bedders from 1,518 sq ft, and five-bedroom penthouse units from 2,809 sq ft.

The most profitable resale transaction recorded at The Sea View during the week of Oct 24 to 31 saw the seller obtaining a gross profit of $2.72 million or 219%. This marks the highest resale gain ever recorded at the development, and it was made after just 17½ years since the seller had first purchased the unit from the developer in March 2006 for $1.24 million ($753 psf).

The second most profitable transaction during the week in review took place at Valley Park. The third-highest was logged on July 14 at the same development when a 1,701 sq ft unit changed hands for $3.85 million ($2,264 psf). The seller netted a gain of $2.2 million on the sale.

Among the 11 resale transactions logged at Valley Park this year, the most profitable one was in June 2022, where a 3,789 sq ft unit was sold for $7.57 million ($1,998 psf). The seller made a gross profit of about $4.21 million after acquiring the unit for $3.36 million ($886 psf) in May 2006.

The sale of a four-bedroom unit at The Sea View was the most profitable condo resale transaction recorded during the week of Oct 24 to 31. Meanwhile, the most unprofitable one was the sale of a four-bedroom unit at Manhattan Mansions. Resale transactions at The Sea View and Valley Park yielded the highest profits while Manhattan Mansions resulted in the biggest loss.