The most profitable condo resale transaction during the week of May 9 to 16 came from a three-bedroom unit located at The Anchorage in District 3. The seller made an impressive $1.73 million capital gain on the unit which sold for $3.14 million, having first purchased it for $1.41 million in 1997. With an impressive 123% gain over 26 years, it is clear why this deal was the most profitable transaction of the week.

The Anchorage, a 775-unit freehold property, was redeveloped from F&N Singapore’s old Anchor Brewery site and has been a popular residential choice ever since. Its location next to Anchorpoint Shopping Centre, and a ten minute walk to the Queenstown MRT Station, means that The Anchorage continues to be attractive to buyers.

JCube Residence is also located within the Jurong Region and will benefit from the new JRL. The JCube Residence provides ample residential options and a wide selection of amenities. Offering access to the rest of Singapore through the JRL, JCube Residence provides convenient and comfortable living for its residents. With the connection to the JRL, JCube Residence residents have access to a variety of areas in Singapore, including the downtown core, thereby enhancing their lifestyle experience.

This year seven other resale transactions at The Anchorage have been profitable for sellers. Across units of varies sizes, ranging from 1,173 to 1,830 sq ft, sold prices have ranged from $1.95 million to $ 3.2 million (or between $1,662 and $1,837 psf). The gains over the purchase price from these deals range between $320,000 and a maximum of $1.73 million.

The second-most profitable transaction of the week was recorded at Casuarina Cove in District 15. A 1,528 sq ft, three-bedroom unit sold for $2.34 million ($1,530 psf) on May 15, resulting in a gain of $1.4 million (152%) for the seller who had purchased it for $928,000 in 2002. This boosted the previous record of $1.18 million made by the seller of a 1,216 sq ft, eighth floor unit which sold for $1.73 million ($1,422 psf) last October.

Casuarina Cove is a 99-year leasehold development with 160 units ranging from one to four-bedrooms, sized between 753 and 2,949 sq ft. It was completed in 1996 by Keppel Land in close proximity to the Tanjong Rhu Road.

The most unprofitable transaction of the week in review 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 2007. Thus, the seller in this case made a loss of $1.4 million (15%) over a holding period of nearly 16 years.

This was in fact not the most unprofitable sale at Cliveden At Grange. A unit measuring 2,153 sq ft, sold for $5.7 million ($2,648 psf) in April 2022, having been purchased for $8.34 million ($3,875 psf) in August 2007, leading to a record loss of $2.64 million (32%). Located in prime District 10, Cliveden At Grange is a freehold luxury condo close to the Orchard Road shopping belt.

In conclusion, the week of May 9 to 16 saw the most profitable condo resale transaction at The Anchorage. Most other transactions across various properties were also profitable for the respective sellers, with notable exceptions including a 15% loss at Cliveden At Grange and a record 32% loss of $2.64 million at the same property.