Resale unit at luxury Ardmore Park sold for $5.95 mil profit

EdgeProp Singapore

October 15, 2021



SINGAPORE (EDGEPROP) - The sale of a 2,885 sq ft, four-bedroom unit at Ardmore Park was the most profitable resale transaction over the week of Sept 28 to Oct 5. The luxury unit on the 23rd floor was sold for $10.75 million ($3,726 psf) on Oct 4. The unit had been bought for $4.8 million ($1,664 psf) in July 1999. As a result, the seller earned a profit of $5.95 million (124%), which translates to an annualised profit of 3.7% over 22 years.

This is the ninth resale transaction at Ardmore Park so far this year, which has seen eight profitable deals and one that made a loss. The latest resale transaction is also the most profitable one in 2021.

The second most profitable sale was for another four-bedroom unit on the 25th floor that fetched $10.8 million ($3,744 psf) on August 6. That unit had been bought for $5.7 million ($1,975 psf) in August 1996. The seller earned a profit of $5.1 million (89%), or an annualised profit of 2.5% over 25 years.

Read more at: https://www.edgeprop.sg/property-new...595-mil-profit