A three-bedroom penthouse in Yong An Park earns $4.9 million in profit

August 25, 2022



The most profitable transaction during the week of August 9 to 16 was the selling of a three-bedroom penthouse property at Yong An Park. According to caveats, the 3,229 sq ft flat on the 24th floor sold for $7.6 million ($2,347 psf) on August 11. The condo was previously acquired in December 2005 for $2.7 million ($842 psf). The owner made a profit of $4.9 million, or 179%, for an annualized profit of 6%.

The 24-story freehold condominium, which was completed in 1986 and has a total of 288 apartments, is located on River Valley Road in District 9. It features a variety of two- to five-bedroom apartments ranging in size from 1,022 to 8,331 square feet.

The property is within walking distance of the Thomson-East Coast Line's Great World City MRT Station, which is set to open later this year.

The week's second most profitable transaction happened in Freesia Woods, where a 1,227 sq ft, two-bedroom condo sold for $2.3 million ($1,834 psf) on August 12. It was originally acquired in September 2006 for $800,000 ($630 psf). Over nearly 16 years, this equates to a gain of $1.5 million, or 191%.

The transaction is also the development's second most profitable selling transaction. The most profitable sale in Freesia Woods occurred in August 2021, when a 2,077 sq ft unit was sold for $3 million, resulting in a $1.7 million profit for the seller.

Freesia Woods, a freehold condominium developed by Keppel Land, is located on Sunset Way, off Clementi Road in District 21. The freehold condominium with 129 units was finished in 2004.

Meanwhile, the week's most unprofitable sale was for a 2,777 square foot, three-bedroom property at 8 Napier. On August 16, the fourth-floor flat sold for $8.86 million ($3,190 psf). The condo was previously acquired in October 2012 for $9.5 million ($3,421 psf). After nearly ten years, the last auction saw a 7% discount, or $640,000.

The completion of the upscale freehold property took place in 2010, and it included a total of 46 apartments. It is near to the United States Embassy, the British High Council, and the headquarters of Interpol because of its location in the exclusive Nassim Hill enclave in District 10. It is in close proximity to the Napier MRT Station on the Thomson-East Coast Line, which is scheduled to be finished by the end of this year.

The Tanglin Mall, Tanglin Retail Centre, and The Forum shopping malls are all located in close proximity to the property. In addition, the Orchard Road retail strip may be reached in a short car ride.

Duchess Residences was the location of the week's second least lucrative business transaction overall. The property, which has a 999-year leasehold, can be found at Bukit Timah, in the vicinity of Coronation Road in District 10. The site is desirable since it is close to a number of prestigious institutions, including Raffles Girls' School, Hwa Chong Institution, Nanyang Girls' High School, and National Junior College.

The condominium was constructed in 2012 and includes a total of 120 apartments in its offering.

A property with four bedrooms and 2,756 square feet of living space recently traded hands. This home is located on the fifth level. On August 15 it was sold for $4.7 million, which comes out to $1,706 per square foot. The condominium was most recently acquired in August 2007 at the price of $5.26 million ($1,910 per square foot), which represents a loss of $564,000, or 11%.