Four Bedder Skyeleven Sold 31 Mil Profit
Revised:
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The most profitable condo resale transaction during the week of June 11-18 was the sale of a four-bedroom apartment at Sky@Eleven. The unit, measuring 2,820 sq ft and located on the 14th floor, was sold for $5.9 million ($2,092 psf) on June 12. The seller purchased the unit from the developer in March 2007 for $2.8 million ($994 psf) and made a profit of $3.1 million, reflecting a capital gain of 111% after owning the unit for 17 years.
This sale is the second most profitable transaction ever recorded at Sky@Eleven, based on lodged caveats. The most profitable transaction belongs to a unit that was sold just two months prior. On April 4, a four-bedroom unit measuring 2,713 sq ft was sold for $6.48 million ($2,389 psf), with the seller making a profit of $3.68 million. They had purchased the unit in March 2007 for approximately $2.8 million ($1,031 psf).
Sky@Eleven is a freehold condominium located on Thomson Lane in Toa Payoh, District 11. With 273 units spread across 42 floors, it was completed in 2010. The unit mix includes three-bedroom-plus-study units of 1,851 sq ft, and four-bedroom units ranging from 2,271 to 2,820 sq ft. Additionally, there are four- and five-bedroom duplex penthouses ranging from 3,757 to 5,597 sq ft.
The second most profitable condo resale transaction of the week took place at Viz At Holland. On June 13, a three-bedroom unit spanning 1,927 sq ft was sold for $2.9 million ($1,505 psf). The seller acquired the unit from the developer in January 2006 for approximately $998,000 ($518 psf), making a profit of $1.9 million after owning the unit for almost 18 and a half years. This translates to a capital gain of 191% for the seller.
This sale is the second most profitable transaction recorded at Viz At Holland, with the highest profit belonging to a resale of a five-bedroom, 2,519 sq ft penthouse for $4.15 million ($1,648 psf) in March 2023. The unit had last changed hands for $1.95 million ($774 psf) in December 2006, resulting in a profit of $2.2 million for the seller.
Viz At Holland is a freehold condominium located on Queensway, off Holland Road in District 10. Completed in 2008, it consists of 165 residences, including one-bedders of 495 sq ft, two-bedders ranging from 818 to 1,227 sq ft, two-bedroom-plus-study units ranging from 947 to 1,679 sq ft, and three-bedders ranging from 1,259 to 1,927 sq ft. Penthouse units include four- and five-bedroom units ranging from 2,390 to 2,648 sq ft.
On the other hand, the most unprofitable condo resale transaction during the week was the sale of a 1,399 sq ft, three-bedroom unit at OUE Twin Peaks. The unit, located on the 31st floor, was sold for $3.3 million ($2,380 psf) on June 13. The seller had purchased the unit as a new unit in August 2010 for $4.44 million ($3,169 psf), resulting in a loss of $1.11 million (25%) after owning the unit for nearly 14 years.
This sale marks the highest loss recorded for a resale unit at OUE Twin Peaks, surpassing the previous record loss of $1 million incurred on a 1,604 sq ft, three-bedroom unit sold for $3.5 million ($2,182 psf) in August 2016.
OUE Twin Peaks is a 99-year leasehold condominium located at 33 Leonie Hill Road, close to Orchard Road in District 9. Completed in 2015, it consists of 462 units spread across two 35-storey towers, including one- to four-bedders ranging from 549 to 1,895 sq ft.
The second most unprofitable condo resale transaction of the week also took place at OUE Twin Peaks. On June 12, a one-bedroom unit spanning 570 sq ft was sold for $1.3 million ($2,279 psf), resulting in a loss of nearly $300,000 for the seller. They had purchased the unit for $1.6 million ($2,803 psf) in May 2016.
To view the latest listings for Sky@Eleven, Viz At Holland, and OUE Twin Peaks properties, visit our website for more information.