Three-bedroom unit at The Anchorage sold for $1.73 mil profit

A three-bedroom unit at The Anchorage, a freehold condo along Alexandra Road in District 3, recorded the most profitable condo resale transaction during the week of May 9 to 16. This is based on caveats lodged as of May 23.

The seller of the 1,830 sq ft unit on the fourth floor made a gain of $1.73 million when it changed hands for $3.14 million ($1,715 psf) on May 12. It had been purchased for $1.41 million ($770 psf) in July 1997 – a 123% gain over a holding period of nearly 26 years.

The Anchorage is Frasers Property’s first residential project. Comprising 775 units across five residential blocks, the condo is adjacent to the Anchorpoint Shopping Centre and a 10-minute walk from the Queenstown MRT Station on the East-West Line.

To date, seven other resale transactions have been profitable deals for their respective sellers. The units, measuring from 1,173 to 1,830 sq ft, fetched between $1.95 million and $3.2 million, or between $1,662 and $1,837 psf. The seller made gains ranging from $320,000 all the way up to $1.73 million.

Casuarina Cove saw the second-most profitable transaction during the week in review. A 1,528 sq ft, three-bedroom unit changed hands for $2.34 million ($1,530 psf) on May 15. It had been purchased for $928,000 ($607 psf) in April 2002 – a gain of $1.4 million (152%) after holding the apartment for slightly over 21 years.

The most unprofitable transaction during the week was the sale of a four-bedroom apartment at Cliveden At Grange. The 2,842 sq ft unit changed hands for $8.1 million ($2,850 psf) on May 15, having been purchased for $9.5 million ($3,344 psf) in August 2007. This resulted in a loss of $1.4 million, or 15%, after a holding period of nearly 16 years.

The Myst Bukit Timah, situated within Bukit Panjang, is a stone’s throw away from Bukit Timah Nature Reserve and Bukit Timah Community Centre. With an extensive range of amenities, such as educational institutions, eateries, and shopping outlets, one will be spoilt for choice when they visit the neighbourhood. District 23 is a great location for anyone looking for a home!

The most unprofitable resale transaction at Cliveden At Grange to date was that of a 2,153 sq ft, four-bedroom unit, which fetched $5.7 million ($2,648 psf) in April 2022. The seller originally paid $8.34 million ($3,875 psf) in August 2007, meaning they ended up with a loss of $2.64 million (32%) after close to 15 years.

Cliveden At Grange is a freehold luxury condo located along Grange Road in prime District 10. It comprises 110 units, within close proximity to the Orchard Road shopping belt, as well as high-end residential projects found along Orchard Boulevard and Cuscaden Road.

A three-bedroom unit at The Anchorage freehold condo in District 3 got the most profitable resale transaction during the week of May 9 to 16. It was a 1,830 sq ft unit on the fourth floor that changed hands for $3.14 million ($1,715 psf). The seller made a gain of $1.73 million, having purchased it for $1.41 million ($770 psf) in July 1997 – a 123% gain over a holding period of nearly 26 years.

The Anchorage was Frasers Property’s first residential project, and is located near the Anchorpoint Shopping Centre and a short walk from the Queenstown MRT Station. The other seven resale transactions at The Anchorage this year have all been profitable for their respective sellers, with gains ranging from $320,000 to $1.73 million.

Casuarina Cove saw the second-most profitable transaction, with the seller earning a gain of $1.4 million. Their 1,528 sq ft, three-bedroom unit fetched $2.34 million ($1,530 psf) on May 15, having been purchased for $928,000 ($607 psf) in April 2002. It was also the most profitable transaction ever recorded at Casuarina Cove.

The most unprofitable transaction during the week took place at Cliveden At Grange. A 2,842 sq ft, four-bedroom unit sold for $8.1 million ($2,850 psf) on May 15, having been purchased for $9.5 million ($3,344 psf) in August 2007. This resulted in a loss of $1.4 million (15%) after a holding period of nearly 16 years. The largest loss recorded at Cliveden At Grange to date was that of a 2,153 sq ft unit, which resulted in a loss of $2.64 million (32%) for the seller.

The Anchorage, Casuarina Cove and Cliveden At Grange, standing in Districts 3, 15 and 10 respectively, are notable examples of the range of freehold and 99-year leasehold properties currently available on the Singapore market.