A unite of Wing On Life Garden earned the seller %2.5 million gain over the week of 29th Oct to 5th Nov. The 10th floor 3,498 sq ft unit was bought for $3.6 million in Sept 2006 and sold on 5th Nov for $6.1 which translates to $1,744 psf. The seller made a 4% annual profit over the past 13 years translating to 69% total gain.
The freehold condo completed in 1982 is located in prime District 10 along Bukit Timah Road. The 28 storied building has 81 units and was developed by The Wing On Investment Co, an affiliate of Wing On Group in Hong Kong. The exceptional development is about 10 minutes’ walk to Stevens and 14 minutes’ walk to MRT Stations. It is next to reputable schools like Anglo-Chinese School located along Barker Road.
Wing on Life Garden Sold for Hefty Profit
Another significant gain over the week took place at Astrid Meadows, which is situated in prime District 10 on Coronation Road West. The seller made 148% profit out of the $1.96 million. The fourth floor 1,938 sq ft unit was bought in Feb 1999 for 1.32 million and sold on 31st Oct for $3.28 million. The seller had bought it at $681 psf and sold it at $1,693 psf earning an annual profit of 4% over the last 21 years. This shows that for core city centre condos near to Newton as well as Kampong Java Road, buyer are still able to get a decent profit.
The 208-unit Astrid Meadows was completed in 1990 and was developed by Parkway Land. The incredible development sits near reputable schools like Raffles Girls’ Primary School, Nanyang Primary School, and Henry Park Primary School. It is about 100munite drive to Orchard Road and CBD and a 4-minute drive to Holland Village.
The third most profitable deal was at The Waterside in District 15 along Tanjong Rhu Road. The seller made a profit of 122% of the $1.93 million. The 6th floor 2400 square feet unit was purchased for $1.58 million in March 2006 and sold on Nov 5 for $3.5million. This translates to an annual profit of 6% over the last 13.5 years.
Completed in 1993, the Waterside has 502 freehold units. It is located a 5-minute walk distance to the Katong Park MRT Station along the Thomson-East Coast Line scheduled to open in 2023.
The most significant loss over the week was in District 9 at RiverGate. The seller sold the 3,143 sq ft was sold for $6.8 million on 31st Oct at a 20% loss of $1.69 million. Bought in May 2007, the seller made an annual loss of 2% over the 2.5 years. He had purchased it for $8.49 and sold it for $6.8 million.
Developed by CapitaLand, the freehold RiverGate was completed in 2009. The 43-story tower has 545 units, and it is located a 30minute drive to Great World City and a 1-minute drive to Robertson Walk.