Penthouse at Regency Park sold at new high of $8.6 mil profit

Penthouse at Regency Park sold at new high of $8.6 mil profit

September 15, 2022

https://i.imgur.com/7xuFYhH.jpg

The week of Aug 30 to Sept 6 saw a record profit at Regency Park in prime District 10. This was also the most profitable resale transaction during the week.

A 6,415 sq ft penthouse on the 24th floor was sold for $14.1 million ($2,200 psf) on Aug 31. The penthouse had previously fetched $5.5 million ($857 psf) in April 1998. Thus, the seller earned a record profit of $8.6 million (157%) on the resale, which translates to an annualised profit of 3.9% over 24 years.

This profitable resale transaction is above the previous record held by a 3,649 sq ft unit on the 12th floor that changed hands for $7.3 million ($2,014 psf) in April 2011. That unit had been bought for $2.8 million ($781 psf) in July 2003. As a result, this seller walked away with a $4.5 million profit, or an annualised profit of 13% over seven years.

Read more at: https://www.edgeprop.sg/property-new...-86-mil-profit