Seller of four-bedder at Equatorial Apartments rakes in $3.4 mil profit
on EdgeProp.sg
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The sale of a four-bedroom unit at Equatorial Apartments on Aug 3 was the most profitable condo sale transaction over the week of Aug 1 to 8, according to URA’s lodged caveats. Spanning 2,497 sq ft, the unit fetched a sale price of $4.55 million ($1,822 psf), a capital gain of 300% over the seller’s purchase price achieved nearly 20 years ago in October 2003 for $1.14 million ($456 psf).
This exceeds the previous record at Equatorial Apartments, a freehold development located on Meyer Road in District 15, set in May 2007 when a 5,382 sq ft penthouse was sold for $5.1 million ($948 psf) and yielded a profit of $2.95 million. It also marks a new psf-price high for the development, surpassing the $1,782 psf logged in February.
Teresa Ville also saw the second most profitable transaction during the week in review when a 1,981 sq ft unit was sold for $3.15 million ($1,590 psf) on Aug 8. The seller had acquired the three-bedroom unit in June 1998 for $1.005 million ($507 psf) and earned a gain of $2.155 million (or 213%) over a slightly more than 25-year holding period.
It was the second most profitable transaction recorded at Teresa Ville to date, with the highest occurring earlier in the year when a 1,981 sq ft, three-bedroom apartment was sold for $3.28 million ($1,656 psf) and yielded a profit of $2.32 million (or 242%) since April 2006.
A 264-unit freehold development located along Lower Delta Road in District 4, Teresa Ville offers two-, three- and four-bedroom units ranging from 1,356 to 3,972 sq ft.
On the other hand, the sale of a four-bedroom-plus-study apartment at Orchard Scotts was the most unprofitable transaction during the week in question. For $3.78 million ($1,656 psf) on Aug 7, the seller made a loss of about $826,700 or 18% since purchasing the 2,282 sq ft unit on the fourth floor in March 2010 for $4.61 million ($2,019 psf).
This is the second unit at the 99-year leasehold development on Anthony Road in District 9 to have changed hands this year – a 2,099 sq ft unit was sold in May for $3.85 million ($1,834 psf) and incurred a loss of $250,000.
Equatorial Apartments, Teresa Ville, and Orchard Scotts are all featured on EdgeProp.sg, and prospective homebuyers may wish to check out the latest listings for these properties.
