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23-06-23, 16:42
Four-bedder at Orchard Bel Air sold at $2.6 mil profit
June 23, 2023
The sale of a four-bedroom apartment at Orchard Bel Air was the most profitable condo resale transaction during the week of June 6 to 13, based on caveats lodged with URA. The 3,229 sq ft unit on the 15th floor changed hands for $5 million ($1,548 psf) on June 6. It had been purchased by the seller in March 1996 for $2.39 million ($740 psf), which means they raked in a profit of $2.61 million. This works out to a capital gain of 109% over a holding period of around 27 years.
This is the first resale transaction at Orchard Bel Air since December 2020, when a 3,240 sq ft unit was sold for $4.76 million ($1,469 psf). It is also the fourth most profitable resale transaction recorded at the development. The most profitable transaction occurred in January 2013, when the sole penthouse of 6,512 sq ft fetched $8.3 million ($1,275 psf). The seller raked in a gain of $5.5 million, having purchased the penthouse for $2.8 million ($434 psf) a decade earlier.
Orchard Bel Air is a 99-year leasehold condo built by UOL Group and completed in 1984. The 25-storey tower has 70 residential units measuring between 3,208 and 3,251 sq ft, as well as one 6,512 sq ft penthouse. Located along Orchard Boulevard in District 10, it is adjacent to Orchard Boulevard MRT Station on the Thomson-East Coast Line.
Residents of Orchard Bel Air had put the tower up for collective sale in July 2022 with a guide price of $587.5 million. In January this year, the development was relaunched for collective sale with an unchanged guide price. The tender closed on March 1 without a buyer.
The second most profitable resale transaction during the week in review took place at another condo in District 10 — The Ladyhill, a freehold development on Lady Hill Road, close to the exclusive Nassim Road residential enclave. A 3,261 sq ft, three-bedroom unit on the first floor was sold for $7.5 million ($2,300 psf) on June 13. It was purchased for $5.38 million ($1,650 psf) in August 2006. Hence, the seller made a gain of $2.12 million (39%) over a holding period of close to 17 years.
More at: https://www.edgeprop.sg/property-news/four-bedder-orchard-bel-air-sold-26-mil-profit
June 23, 2023
The sale of a four-bedroom apartment at Orchard Bel Air was the most profitable condo resale transaction during the week of June 6 to 13, based on caveats lodged with URA. The 3,229 sq ft unit on the 15th floor changed hands for $5 million ($1,548 psf) on June 6. It had been purchased by the seller in March 1996 for $2.39 million ($740 psf), which means they raked in a profit of $2.61 million. This works out to a capital gain of 109% over a holding period of around 27 years.
This is the first resale transaction at Orchard Bel Air since December 2020, when a 3,240 sq ft unit was sold for $4.76 million ($1,469 psf). It is also the fourth most profitable resale transaction recorded at the development. The most profitable transaction occurred in January 2013, when the sole penthouse of 6,512 sq ft fetched $8.3 million ($1,275 psf). The seller raked in a gain of $5.5 million, having purchased the penthouse for $2.8 million ($434 psf) a decade earlier.
Orchard Bel Air is a 99-year leasehold condo built by UOL Group and completed in 1984. The 25-storey tower has 70 residential units measuring between 3,208 and 3,251 sq ft, as well as one 6,512 sq ft penthouse. Located along Orchard Boulevard in District 10, it is adjacent to Orchard Boulevard MRT Station on the Thomson-East Coast Line.
Residents of Orchard Bel Air had put the tower up for collective sale in July 2022 with a guide price of $587.5 million. In January this year, the development was relaunched for collective sale with an unchanged guide price. The tender closed on March 1 without a buyer.
The second most profitable resale transaction during the week in review took place at another condo in District 10 — The Ladyhill, a freehold development on Lady Hill Road, close to the exclusive Nassim Road residential enclave. A 3,261 sq ft, three-bedroom unit on the first floor was sold for $7.5 million ($2,300 psf) on June 13. It was purchased for $5.38 million ($1,650 psf) in August 2006. Hence, the seller made a gain of $2.12 million (39%) over a holding period of close to 17 years.
More at: https://www.edgeprop.sg/property-news/four-bedder-orchard-bel-air-sold-26-mil-profit