Four-bedroom unit at Top Ten in Emerald Hill sold for $3.4 mil profit

August 5, 2022

Large four-bedroom apartments and penthouses in the prime districts dominated the leaderboard in the most profitable and unprofitable deals over the two-week period from July 12 to 26. The transaction that marked the biggest price gain was for the biggest unit at Top Ten, an 11-unit, six-storey, freehold apartment block at Emerald Hill Road, built in 1978.

The 3,143 sq ft, four-bedroom penthouse at Top Ten changed hands for $5.19 million ($1,650 psf), according to a caveat on July 19. The unit was previously purchased for $1.75 million ($557 psf) in August 1999. It translates to a capital gain of $3.44 million or 196% after a 23-year holding period.

The Top Ten apartment block is located at 134 Emerald Hill Road, amid the conservation shophouses on Emerald Hill Road, just off Orchard Road on one side and Cairnhill Road on another. The project is located within prime District 9.

The second-most profitable deal for July 12 to 26 was located at The Shelford. The transaction was for a 2,174 sq ft, four-bedroom penthouse on the top floor of one of the development’s five-storey blocks. The unit was purchased 13 years ago for $1.93 million ($888 psf), and recently changed hands for $4.15 million ($1,909 psf). For the seller, it translates to a gain of $2.22 million.

The 215-unit, freehold condominium, situated on Shelford Road in prime District 11, was developed by CapitaLand and completed in 2005. The project is popular with families with school-going children, given its proximity to schools such as Anglo-Chinese School (Junior), St Margaret’s Secondary School, Anglo-Chinese School (Primary) and Raffles Girls’ Primary School.

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