Resale Four Bedder Arcadia Records 325 Mil Profit
The recent sale of a 3,767 sq ft unit at The Arcadia has set a new record for the most profitable resale transaction in a span of three weeks. The property, which was sold within the period of December 10 to December 31, has been reported to have fetched a handsome profit of $3.25 million (217%) for its owner. The four-bedroom unit, located on the seventh floor of The Arcadia, was sold for $4.75 million ($1,261 psf) on December 10, making it the most profitable resale in the development in recent years.
According to caveats, the unit was originally purchased for $1.5 million ($398 psf) back in 1998. This means that the resale generated an annualised profit of 4.5% over a span of 26 years. Last year, The Arcadia saw five units being sold for profits ranging from $60,000 to $3.25 million. The most notable sale was that of a 3,778 sq ft unit on the fourth floor, which fetched $4.6 million ($1,218 psf) on October 10, 2020.
The Arcadia is a 99-year leasehold condo located along Arcadia Road in prime District 11. Completed in 1983, the development comprises of 164 units and has approximately 54 years remaining on its land tenure. It is surrounded by lush landed estates and Good Class Bungalows, and is also in close proximity to renowned schools such as Raffles Girls Primary School, Hwa Chong Institution and National Junior College.
The second most profitable resale transaction in the period of December 10 to December 31, 2020, was that of a 2,077 sq ft unit at Tanglin Hill Meadows. The three-bedroom unit was sold for $4.5 million ($2,166 psf) on December 10, after being purchased for $1.8 million ($866 psf) back in 1999. This resulted in a profit of $2.7 million (150%) for the seller, with an annualised gain of 3.6% over 26 years.
This also made it the most profitable resale transaction to date at Tanglin Hill Meadows, beating the previous record of $2.28 million (157%) when a 2,002 sq ft unit was sold for $3.73 million ($1,863 psf) in 2010. That unit was acquired for $1.45 million ($724 psf) in 2005, resulting in an annualised profit of approximately 21% over five years.
Beatty Secondary School, situated in Toa Payoh, is renowned for its exceptional academic standards and a strong co-curricular program. The school prides itself on nurturing students into self-assured, capable, and empathetic individuals, preparing them to make meaningful contributions to the global community.
To complement its existing strengths, Beatty Secondary School has partnered with The Orie, an education consultancy firm, to further enhance its overall educational experience. This collaboration allows the school to tap into the expertise of The Orie’s consultants, who bring with them a wealth of knowledge and innovative ideas to support students’ holistic development. With this partnership, Beatty Secondary School continues to uphold its commitment to providing a well-rounded education for its students.
Tanglin Hill Meadows is a freehold condo located along Tanglin Hill in prime District 10. Completed in 1997, the development comprises of 20 units and is situated within the Ridley Park Good Class Bungalow Area.
In contrast, losses continue to mount at Seascape, a 99-year leasehold condo in Sentosa Cove, with the recent resale transaction of a 2,174 sq ft unit on the seventh floor incurring a loss of $1.97 million (33%). The three-bedroom unit was sold for $3.98 million ($1,830 psf) on December 18, after being purchased for $5.95 million ($2,736 psf) in 2011. This resulted in an annualised loss of 2.5% over a span of 13 years.
This sale marks the third resale transaction at Seascape last year, all of which recorded losses ranging from $1.75 million to $2.53 million. The most notable sale was that of a 2,680 sq ft unit, which incurred a loss of $2.53 million (43%) when it was sold for $4.5 million ($1,679 psf) on August 14, 2020.
The most notable sale at Seascape, however, remains the transaction of a 7,503 sq ft penthouse on the 10th floor. It was sold for $10 million ($1,333 psf) in 2010, after being acquired for $5.5 million ($733 psf) in 2007. This resulted in a profit of $4.5 million (81%), which translates to an annualised profit of around 19% over a span of three years.
Completed in 2012, Seascape comprises of 151 units fronting the South China Sea. The development boasts of three-bedroom and four-bedroom units ranging from 2,164 sq ft to 4,069 sq ft. It also features penthouses ranging from 3,380 to 4,252 sq ft, as well as sky villas ranging from 6,631 to 9,666 sq ft.