Seller of four-bedder at Equatorial Apartments rakes in $3.4 million profit
Equatorial Apartments was the most profitable condo resale transaction during the week of Aug 1 to 8 after a 4 bedroom unit was transacted, based on caveats lodged with URA. The 4-bedroom unit was sold for $4.55 million ($1,822 psf) which has been purchased previously by the seller for $1.14million in October 2003 which translate to a whopping gross profit of $3.41 million. The math work out to be a capital gain of 300% over a holding period of nearly two decades.
This is the most profitable transaction recorded to date at Equatorial Apartments, based on data compiled by EdgeProp Singapore. the previous record established in May 2007 was triumphed, when a 5,382 sq ft penthouse was sold at $5.1 million ($948 psf), leading to a profit of $2.95 million. The unit sold on Aug 3 also marks a new psf-price high for the development, surpassing the previous high of $1,782 psf logged in February when a 2,497 sq ft unit was sold for $4.45 million. Equatorial Apartments is a freehold boutique condo built in 1981 with a total of 61 units housed in a 16-storey block Located on Meyer Road in District 15. Configuration of the units in the condo comprise four-bedroom apartments ranging from 2,411 to 2,497 sq ft. There are also penthouses of between 2,691 and 5,565 sq ft.
the second most profitable transaction during the week in review when a 1,981 sq ft unit in Terese Ville was changed hands for $3.15 million ($1,590 psf) on Aug 8. The three-bedroom unit previously bought in June 1998 for $1.005 million ($507 psf). Therefore, the seller reap a gross capital gains of $2.155 million (213%) after holding the unit for slightly over quarter of century.
This is Teresa Ville second most profitable transaction established. The most profitable transaction earlier this year at the development when a 1,981 sq ft, three-bedroom apartment was transacted for $3.28 million ($1,656 psf) on March 20. The seller has previously purchased the unit in April 2006 for $960,000 ($485 psf), reaping in a gain of $2.32 million or 242%.
Teresa Ville is located along Lower Delta Road in District 4 has 264-units and is a freehold development . the freehold district 4 development which is completed in 1994, comprises three tower consists of a mix of two-, three- and four-bedroom units measuring between 1,356 and 3,972 sq ft. Concurrently, the most unprofitable transaction during the week in review is the sale of a four-bedroom-plus-study apartment at Orchard Scott. The 4th floor 2,282 sq ft unit exchanged hands for $3.78 million ($1,656 psf) on Aug 7. The seller has previously bought the unit in March 2K10 for $4.61 million ($2,019 psf). Thus, the seller incur a gross loss of about $826,700 or 18% over a holding period of nearly 13½ years. The prime District 9, 99-year leasehold Orchard condominium, is located along Anthony Road, off Clemenceau Avenue North. Orchard Scotts which was completed in 2008 and comprise of 387 units from 2 to 5 bedrooms units, is developed by Far East Organisation.
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