Three-bedder at The Windsor sold at $2.7 mil profit

in Singapore and more on EdgeProp.sg

Not to mention, the Lumina Grand EC CDL is situated close to various amenities like supermarkets, food outlets and shopping malls. This provides its residents with the convenience of getting their everyday essentials without having to travel too far.

The most profitable condo resale transaction of the week of Aug 15 to 22 took place at The Windsor. Selling for $3.41 million ($1,389 psf), the 2,454 sq ft three-bedroom maisonette fetched the seller a profit of $2.66 million over 18 years since purchasing it for $750,000 ($306 psf) in August 2005. This marks the highest capital gain to date at The Windsor.

Located in District 20, The Windsor is a freehold development on Onatorio Avenue, off Upper Thomson Road, which was completed in 1987. It has 159 residences comprising nine townhouses at 2,497 sq ft each, three-bedroom apartments ranging from 936 to 1,797 sq ft, and maisonettes of 1,819 to 3,853 sq ft each. Besides the unit sold on Aug 16, there has been only one other resale transaction at The Windsor this year. In March, a 2,013 sq ft unit fetched $2.95 million ($1,466 psf).

The second most profitable resale transaction of the week occurred at Melrose Park. Sold for $3.3 million ($2,555 psf), the 1,292 sq ft three-bedroom apartment on the eighth floor saw the seller make a gain of $2.094 million or 174% over a holding period of 24½ years since buying it from the developer for $1.206 million ($934 psf) in February 1999. This purchase price is the sixth highest to be recorded at Melrose Park, which is a 999-year leasehold property by CapitaLand located on Kellock Road, off River Valley Road in District 10.

Conversely, the most unprofitable transaction of the week took place at The Oceanfront @ Sentosa Cove. A 1,733 sq ft three-bedder changed hands for $3 million ($1,731 psf) on Aug 15, leading to a loss of $730,000 after a holding period of 16 years. The seller had purchased the unit for $3.73 million ($2,152 psf) in July 2007. The Oceanfront @ Sentosa Cove is a 99-year leasehold condo in the exclusive Sentosa Cove residential enclave and comprises five towers between 12 and 15 storeys high.

These transactions highlight the potential for capital gains and losses in Singapore’s property market, especially if one is in for the long haul. To find out more, check out the latest listings for The Windsor, Melrose Park, The Oceanfront @ Sentosa Cove, and more on EdgeProp.sg.