Three-bedder at Maple Woods sold for $2 mil profit

The sale of a three-bedroom unit at Maple Woods was the most profitable condo resale transaction during the week of Nov 12 to 19. The 1,539 sq ft unit on the first floor changed hands for $3.3 million ($2,144 psf) on Nov 15. The seller had bought the unit in April 2009 for $1.28 million ($830 psf). As a result, they made a profit of $2.02 million. This reflects a capital gain of 158% for the seller or an annualised profit of 10.6% over a holding period of about 15½ years. Maple Woods is a freehold condo located on Bukit Timah Road in prime District 10. Built in 1997, it has 697 residences comprising twoto four-bedders of 850 sq ft to 3,003 sq ft. It is a five-minute walk from King Albert Park MRT Station on the Downtown Line and is also close to Methodist Girls’ School and the Rail Corridor. The development has seen 10 other resale transactions this year. Available caveats show that all of them have been profitable deals, with the sellers making gains of at least $425,000. Three of the units sold netted profits of over $2 million. The first was a 1,787 sq ft, three-bedroom unit on the eighth floor that fetched $3.75 million ($2,099 psf), with the seller raking in a profit of $2.15 million. They had purchased the unit in July 1997 for $1.6 million ($895 psf). Read also: ANALYSIS: The impact of sub-sales on profitable transactions Advertisement Advertisement The second unit was a 1,787 sq ft, three-bedroom unit that was sold for $3.82 million ($2,138 psf) on Sept 10. The seller, who bought the unit in March 2007 for $1.35 million ($756 psf), made a profit of $2.47 million. The third unit was also sold on Sept 10. The 3,003 sq ft, four-bedroom unit on the eighth floor changed hands for $5 million ($1,665 psf). The seller, who bought the unit in September 1998 for $2.4 million ($798 psf), made a gain of $2.6 million. The second most profitable condo resale deal during the week took place at UE Square. A three-bedroom unit measuring 1,528 sq ft on the seventh floor fetched $2.95 million ($1,930 psf) on Nov 14. The seller had acquired the unit through a sub-sale in December 1997 for $1.3 million ($850 psf). Thus, the seller netted a gain of $1.65 million (127%) after owning the unit for nearly 27 years. The deal is the fourth most profitable resale transaction registered at UE Square. The record belongs to a four-bedroom penthouse spanning 3,089 sq ft that sold for $6.27 million ($2,031 psf) on Oct 6, 2023. The seller, who bought the unit for $4.1 million ($1,327 psf) in December 2009, made a $2.17 million gain. UE Square is part of UE BizHub City, a mixed-use development along Clemenceau Avenue in District 9, close to Clarke Quay. It comprises an 18-storey office building with a four-storey shopping podium and a pair of 18-storey residential blocks that house 345 units. A service road divides the mixed-use development, separating the commercial tower from the two residential towers. UE Square has 345 residences consisting of one- to five-bedders of 506 sq ft to 2,379 sq ft. There are also penthouses of 3,089 sq ft. The development is close to the Fort Canning MRT Station on the Downtown Line. Meanwhile, the most unprofitable condo resale transaction during the week was the sale of a three-bedroom unit at Tomlinson Heights. The 2,745 sq ft unit on the 19th floor changed hands for $8.25 million ($3,006 psf) on Nov 19. The seller had purchased the unit from the developer in February 2011 for $8.85 million ($3,225 psf). As a result, they incurred a loss of about $601,000 (6.8%) after owning the unit for almost 14 years. Read also: Four-bedder in Grand Duchess at St Patrick’s sold for $2.48 mil profit Advertisement Advertisement Tomlinson Heights is a luxury 70-unit condo off Orchard Boulevard, comprising a 36-storey tower with a mix of three- and five-bedroom units of 2,551 sq ft to 6,738 sq ft. Completed in 2014, the freehold development is within walking distance of malls along the Orchard Road shopping belt. The unit sold on Nov 19 is the first caveated transaction at Tomlinson Heights since Jan 5, 2023, when another 2,745 sq ft unit fetched $10.5 million ($3,825 psf). The seller, who bought the unit from the developer in May 2011 for $8.38 million ($3,053 psf), raked in a gain of $2.12 million. Check out the latest listings for Maple Woods, Tomlinson Heights, Ue Square, Condominium properties Ask Buddy Condo projects with most profitable transactions in District 9 Upcoming new launch projects Condo sale transactions in District 9 Condo projects with most profitable transactions in District 9 Total number of units in Tomlinson Heights Condo projects with most profitable transactions in District 9 Upcoming new launch projects Condo sale transactions in District 9 Condo projects with most profitable transactions in District 9 Total number of units in Tomlinson Heights