Four-bedder at Leedon Residence sold for $2.6 mil profit

The sale of a four-bedroom apartment at Leedon Residence was the most profitable condo resale transaction from Oct 15 to Oct 22. The 2,669 sq ft unit on the ninth floor changed hands for $7.5 million ($2,810 psf) on Oct 21. The seller had purchased it from the developer in February 2016 for $4.9 million ($1,836 psf). As a result, they netted a profit of $2.6 million after owning the unit for nearly nine years. This reflects a capital gain of 53.1% or an annualised profit of 6.6%. This is the third most profitable deal made on a unit at Leedon Residence, based on caveats lodged. The record belongs to a five-bedroom unit measuring 4,704 sq ft on the seventh floor that fetched $12.5 million ($2,657 psf) in July 2021. The seller, who bought the unit in October 2017 for $9.6 million ($2,041 psf), reaped a gain of $2.9 million. Leedon Residence is a freehold development along Leedon Heights in prime District 10. Completed in 2015, it has 381 units across 12 residential blocks. Units comprise two- to five-bedders ranging between 1,044 sq ft and 4,704 sq ft. There are also “garden suites” on the first floor comprising three- to five-bedroom units measuring 3,789 sq ft to 8,051 sq ft, along with three- to five-bedroom penthouses spanning 3,283 sq ft to 7,718 sq ft. Read also: Four-bedder at Glentrees sold for $2.46 mil profit Advertisement Advertisement There have been eight resale transactions this year at Leedon Residence, including the unit sold on Oct 21. The units were sold at an average price of $2,658 psf, marginally lower than the $2,709 psf transacted across five deals at the condo last year. The second most profitable condo resale transaction during the week was the sale of a first-floor unit at Merawoods. The 2,357 sq ft, four-bedroom apartment sold for $3.24 million ($1,374 psf) on Oct 18. The seller had bought the unit in a sub-sale transaction in May 1996 for about $1.18 million ($500 psf). Thus, they made a gain of around $2.06 million (175%) after owning the unit for 28½ years. This is the biggest gain ever made on a unit at Merawoods. It beats the previous record profit of $1.71 million made from the sale of a four-bedroom, 2,045 sq ft unit in April 2022. The unit had fetched $2.6 million ($1,271 psf), while the seller had bought it in April 2005 for around $890,000 ($435 psf). Located on Hillview Avenue in the Bukit Batok area in District 23, Merawoods is a 305-unit condo built in 1999. The 999-year leasehold development has four blocks of 10 storeys each. Units include two- to four-bedders of 1,001 sq ft to 4,037 sq ft. Apart from the Oct 18 transaction, only two other units at Merawoods have changed hands this year. On March 8, a 1,346 sq ft, three-bedroom unit fetched $1.88 million ($1,397 psf). The seller, who bought the unit for about $780,000 ($580 psf) in May 2007, netted a gain of $1.1 million. On May 13, a 1,938 sq ft, four-bedroom unit sold for $2.83 million ($1,461 psf). The seller, who purchased the unit for $1.45 million ($748 psf) in October 2007, made a profit of $1.38 million. Read also: Three-bedder at The Marbella sold for $2.51 mil profit Advertisement Advertisement Meanwhile, the sale of an apartment at Altez was the most unprofitable condo resale deal during the week. The one-bedroom loft spanning 861 sq ft changed hands for $1.53 million ($1,777 psf) on Oct 16. The seller had acquired the unit from the developer in July 2012 for around $2.08 million ($2,419 psf). This means they incurred a loss of about $553,000 (26.5%) after holding the unit for about 12 years. Located on Enggor Street in District 2’s Tanjong Pagar area, Altez is a 280-unit condo completed in 2014. The 99-year leasehold development consists of a 62-storey tower that includes a retail podium. Residences comprise one- and two-bedroom units of 527 sq ft to 1,013 sq ft, one- to three-bedroom lofts of 753 sq ft to 1,658 sq ft, and penthouses of 2,486 sq ft to 4,424 sq ft. Apart from the unit sold on Oct 16, there have been nine other resale transactions at Altez this year, with the units sold for between $1,786 psf and $2,198 psf. Available caveats show that five were unprofitable deals, with the sellers incurring losses between $110,000 and around $482,000. Check out the latest listings for Leedon Residence properties Ask Buddy Compare price trend of HDB vs Condo vs Landed View sale transactions for Leedon Residence What is the buyer profile for Leedon Residence? Most unprofitable landed transactions in past 1 year Condo projects with most profitable transactions in District 10 Compare price trend of HDB vs Condo vs Landed View sale transactions for Leedon Residence What is the buyer profile for Leedon Residence? Most unprofitable landed transactions in past 1 year Condo projects with most profitable transactions in District 10