New Reporter
30-06-23, 10:38
Resale of three-bedder at De Royale rakes in $1.44 mil profit
June 30, 2023
https://i.imgur.com/kCJjocT.jpg
The sale of a three-bedroom unit at De Royale was the most profitable resale transaction for the week of June 13 to 20. The 1,259 sq ft unit was sold for $2.2 million ($1,747 psf) on June 15. This is higher than the $757,918 ($602 psf) it fetched back in October 2006. As a result, the seller earned a profit of $1.44 million (190.2%), which translates to an annualised profit of 6.6% over almost 17 years.
This makes the transaction the second most profitable resale at De Royale to date. The most profitable deal is the sale of a 3,240 sq ft, four-bedroom penthouse that changed hands for $2.89 million ($895 psf). It had been bought for $1.43 million ($442 psf) in March 2005. Thus, the seller made a profit of $1.6 million (123%), which translates to an annualised profit of 6% over 13 years.
De Royale is a freehold condo on Jalan Rama Rama, off Balestier Road in District 12. The Balestier area is served by the Pan Island Expressway, Balestier Road and Thomson Road.
De Royale was developed by local property group Hoi Hup Realty, and completed in 2006. The entire development comprises twin 36-storey blocks with a mix of two-bedroom-plus-study units to four-bedroom penthouses. Units range from 1,055 to 3,240 sq ft.
Based on a tabulation of URA caveats by EdgeProp Singapore, prices at De Royale have moved up steadily since its completion. For instance, the average price was about $1,175 psf in June 2013 and has moved up to $1,593 psf last month.
This positions De Royale as the second most expensive condo in the vicinity, after the freehold Skysuites 17 at 17 Jalan Rajah, which commands the highest average price of about $1,789 psf. Surrounding condos see lower average selling prices, such as Casa Fortuna ($1,471 psf) on Ah Hood Road, D’Mira ($1,433 psf) on Boon Teck Road, and The Verve ($1,420 psf) on Jalan Rajah.
The second most profitable resale during the week occurred at Tanglin Park in District 10. A 1,109 sq ft, two-bedroom unit fetched $2.6 million ($2,341 psf) on June 13. This unit had been bought for $1.22 million ($1,100 psf) in February 2000. As a result, the seller made a profit of $1.38 million (112.7%), which translates to an annualised profit of 3.3% over 23½ years.
In comparison, the most profitable resale at Tanglin Park is for a 2,067 sq ft, three-bedroom-plus-study unit that changed hands for $4.5 million ($2,177 psf) in October 2010. This unit had been purchased at $2.04 million ($985 psf). Thus, the seller made a profit of $2.47 million (121%), which translates to an annualised profit of 5.4% over 15 years.
Located at the corner of Tanglin Road and Ridley Park, the 274-unit Tanglin Park was developed by mainboard-listed property group City Developments, and completed in 1989. The freehold condo comprises 12 five-storey residential blocks with a mix of two- to four-bedroom units that range from 1,023 to 2,067 sq ft.
More at: https://www.edgeprop.sg/property-news/resale-three-bedder-de-royale-rakes-144-mil-profit
June 30, 2023
https://i.imgur.com/kCJjocT.jpg
The sale of a three-bedroom unit at De Royale was the most profitable resale transaction for the week of June 13 to 20. The 1,259 sq ft unit was sold for $2.2 million ($1,747 psf) on June 15. This is higher than the $757,918 ($602 psf) it fetched back in October 2006. As a result, the seller earned a profit of $1.44 million (190.2%), which translates to an annualised profit of 6.6% over almost 17 years.
This makes the transaction the second most profitable resale at De Royale to date. The most profitable deal is the sale of a 3,240 sq ft, four-bedroom penthouse that changed hands for $2.89 million ($895 psf). It had been bought for $1.43 million ($442 psf) in March 2005. Thus, the seller made a profit of $1.6 million (123%), which translates to an annualised profit of 6% over 13 years.
De Royale is a freehold condo on Jalan Rama Rama, off Balestier Road in District 12. The Balestier area is served by the Pan Island Expressway, Balestier Road and Thomson Road.
De Royale was developed by local property group Hoi Hup Realty, and completed in 2006. The entire development comprises twin 36-storey blocks with a mix of two-bedroom-plus-study units to four-bedroom penthouses. Units range from 1,055 to 3,240 sq ft.
Based on a tabulation of URA caveats by EdgeProp Singapore, prices at De Royale have moved up steadily since its completion. For instance, the average price was about $1,175 psf in June 2013 and has moved up to $1,593 psf last month.
This positions De Royale as the second most expensive condo in the vicinity, after the freehold Skysuites 17 at 17 Jalan Rajah, which commands the highest average price of about $1,789 psf. Surrounding condos see lower average selling prices, such as Casa Fortuna ($1,471 psf) on Ah Hood Road, D’Mira ($1,433 psf) on Boon Teck Road, and The Verve ($1,420 psf) on Jalan Rajah.
The second most profitable resale during the week occurred at Tanglin Park in District 10. A 1,109 sq ft, two-bedroom unit fetched $2.6 million ($2,341 psf) on June 13. This unit had been bought for $1.22 million ($1,100 psf) in February 2000. As a result, the seller made a profit of $1.38 million (112.7%), which translates to an annualised profit of 3.3% over 23½ years.
In comparison, the most profitable resale at Tanglin Park is for a 2,067 sq ft, three-bedroom-plus-study unit that changed hands for $4.5 million ($2,177 psf) in October 2010. This unit had been purchased at $2.04 million ($985 psf). Thus, the seller made a profit of $2.47 million (121%), which translates to an annualised profit of 5.4% over 15 years.
Located at the corner of Tanglin Road and Ridley Park, the 274-unit Tanglin Park was developed by mainboard-listed property group City Developments, and completed in 1989. The freehold condo comprises 12 five-storey residential blocks with a mix of two- to four-bedroom units that range from 1,023 to 2,067 sq ft.
More at: https://www.edgeprop.sg/property-news/resale-three-bedder-de-royale-rakes-144-mil-profit