Four-bedder at Ardmore Park sold for $7.05 mil gain

A unit at luxury condo Ardmore Park sold for $12.9 million ($4,472 psf) on May 29, raking in a profit of $7.05 million for the seller who had held the 4-bedroom, 2,885 sq ft apartment since July 1996 when it was purchased from the developer for $5.85 million ($2,029 psf). This was the fourth most profitable resale transaction recorded at Ardmore Park – a 330-unit, freehold condo in the prestigious Ardmore Park area in District 10. The most profitable transaction occurred in April 2020 when the seller of a 8,740 sq ft duplex penthouse sold their unit for $27.65 million ($3,163 psf) and made a profit of $11.65 million.

The sale of a unit at luxury condo Ardmore Park – located in prime District 10 – was the most profitable condo resale transaction recorded during the week of May 23 to 30. The 4-bedroom, 2,885 sq ft apartment sold for $12.9 million ($4,472 psf) on May 29 and the seller made a profit of $7.05 million, having purchased it for $5.85 million ($2,029 psf) in July 1996.

The buyer of the unit was one Eddy Hartono, an Indonesian who is a Singapore permanent resident. This marks the fourth most profitable resale transaction recorded at Ardmore Park, and the most lucrative occurring in April 2020 when the seller of a 8,740 sq ft duplex penthouse reaped a $11.65 million profit. In April this year, a 2,885 sq ft apartment was sold for $13 million ($4,510 psf) with the seller receiving a $8.16 million gain.

Residents of The Myst Bukit Timah can enjoy spectacular views of Singapore’s renowned skyline and lush greenery of Bukit Timah. It is an easy-access location that is just a short drive away from many of the city’s main attractions, with public transport links having been improved with new MRT lines. Residents can also enjoy the convenience of being able to get around the city with ease. The Myst Bukit Timah is a popular choice for those looking for a luxurious and comfortable lifestyle. The development offers a range of amenities, such as a swimming pool, tennis courts and a gym. Shops, restaurants and entertainment options are also just a short walk away. With its luxurious and modern features, The Myst Bukit Timah is the ideal place to call home.

The second most profitable transaction of the week in review occurred at Scotts 28, a condo along Scotts Road in District 9. A three-bedder1,733 sq ft, on the eighth floor was sold for $4.3 million ($2,481 psf) on May 26. It had been purchased from the developer in November 1995 for $2.32 million ($1,341 psf), meaning the seller made a $1.98 million profit or a capital gain of 85% over 27½ years.

At Aalto, a freehold condo along Meyer Road in District 15’s Marine Parade area, the most unprofitable transaction was recorded when a 5,608 sq ft duplex penthouse changed hands for $13.2 million ($2,354 psf) on May 24. The seller had bought it from the developer in March 2008 for $16.28 million ($2,902 psf), suffering a loss of $3.08 million (19%). This marks the most unprofitable transaction to date at Aalto.

Overall, it was a profitable week for some and a costly one for others.