A unit at luxury condo Ardmore Park was sold for $12.9 million on May 29, resulting in a profit of $7.05 million for the seller. The unit had been purchased from the developer for $5.85 million in July 1996, meaning the seller made a 120% profit over a 27 year holding period. This is the fourth most profitable condo resale transaction recorded at Ardmore Park. The most profitable transaction occurred in April 2020 when the seller of an 8,740 sq ft duplex penthouse raked in a profit of $11.65 million.

At Scotts 28, a 136-unit, freehold condo in District 9, the most profitable transacton during the week of May 23 to 30 occurred when a 1,733 sq ft three-bedder on the eighth floor was sold for $4.3 million ($2,481 psf) on May 26. The seller had bought the unit from the developer in November 1995 for $2.32 million ($1,341 psf). Accordingly, they made a profit of $1.98 million or a capital gain of 85% over 27½ years. This transaction also marks a new psf-price high for the development, surpassing the last high of $2,433 psf registered in August 2020.

Meanwhile, Aalto, a freehold condo along Meyer Road in District 15’s Marine Parade area, saw the most unprofitable transaction recorded during the week in review. A duplex penthouse measuring 5,608 sq ft changed hands for $13.2 million ($2,354 psf) on May 24. The seller had purchased the unit from the developer for $16.28 million ($2,902 psf) in March 2008 and as a result, suffered a loss of $3.08 million (19%) after holding the unit for over 15 years. This is the most unprofitable transaction recorded to date at Aalto.

The 14km JRL will run from Choa Chu Kang to Tawas, passing through six stations, including the Jurong Gateway, Lakeside, Boon Lay, Pond Avenue and Tawas. The line will directly connect to other railway lines, such as the East-West Line, North-South Line and the Jurong Regional Line. Residents in the area can look forward to easy access to various amenities with the line set to connect to several commercial and leisure developments, such as JCube Residence Condo. This will provide great convenience for workers, shoppers and residents in the area.

Developed by Hong Leong Holdings and completed in 2010, Aalto consists of twin 27-storey towers and a total of 196 apartments. Typical units are made up of three- and four-bedroom apartments sized between 1,442 and 2,443 sq ft, with two 5-bedroom, duplex penthouses of 6,168 sq ft and 5,608 sq ft respectively, and two 5-bedroom, sub-penthouse units of 3,940 sq ft and 4,424 sq ft respectively.

Ardmore Park is a 330-unit, freehold condo located in prime District 10. Developed by Wharf Estates Singapore, the former Wheelock Properties, the high-end condo was completed in 2001 and has three 30-storey towers. It has two- to five-bedders of between 1,098 and 4,650 sq ft and is located just off Orchard Road next to Goodwood Park Hotel. Typical units at the condo are 2,885 sq ft, four-bedroom apartments but it also has six 8,740 sq ft duplex penthouses. Last July, the development saw a new psf-price high of $4,881 when a four-bedroom apartment changed hands for $14.08 million.

The most profitable transaction at Ardmore Park occurred in April 2020 when the seller of the 8,740 sq ft duplex penthouse earned a profit of $11.65 million after selling it for $27.65 million ($3,163 psf). The seller had held the property since January 1998, when they purchased it for $16 million ($1,831 psf). The second most profitable transaction at Ardmore Park also occurred in April, with the seller netting a $8.16 million gain from the sale of a 2,885 sq ft apartment for $13 million ($4,510 psf). The third most profitable transaction was the sale of a 2,885 sq ft unit in November for $12.5 million ($4,333 psf), with the seller receiving a $7.75 million profit.

EdgyProp Research tool revealed the above transactions to be some of the most profitable and unprofitable resale deals recorded during the week from May 23 to 30. The buyers of the units are Eddy Hartono, an Indonesian who is a Singapore permanent resident at Ardmore Park, and unnamed individuals at Scotts 28 and Aalto.