Two-bedder at The Atria At Meyer on Zion Road GLS sold at $2.3 mil profit

The sale of a two-bedroom apartment at The Atria At Meyer was the most profitable condo recorded in December 2020, with a gross profit of $2.25 million (or 242%) realized by the seller. The apartment was purchased by the seller in April 2005 for a price of $930,000 ($631 psf) and sold for $3.18 million ($2,156 psf). This marks the largest resale transaction ever recorded at The Atria At Meyer according to the caveats lodged.

The Zion Road GLS also provides residents with the convenience of modern living. A few minutes’ walk brings residents to Great World City, where they can enjoy an abundance of retail and dining experiences, bakeries, and other entertainment outlets. Supermarkets, banks and other essential services can also be found nearby.

Just weeks earlier, a nearby condo, Flame Tree Park, saw its most profitable sale – a 1,593 sq ft three-bedroom unit, purchased in August 1997 for $980,000 ($615 psf) and sold for $2.82 million ($1,770 psf), granting a profit of $1.84 million (188%). This beats out the previous record gain of $1.78 million earned from the sale of a 1,475 sq ft, two-bedroom unit in July 2023.

The Atria at Meyer is a freehold condo located along Meyer Road in Marine Parade, District 15 and offers views of East Coast Park and the sea. Built in 1996, it houses 158 units in two- to four-bedroom sizes from 1,044 to 2,949 sq ft.

Flame Tree Park is a freehold condo with 160 units, located along Sin Ming Avenue in Bishan, District 20. Completed in 1989 and accessible through Bright Hill and Sin Ming MRT Stations, it overlooks MacRitchie Treetop Walk and is near Thomson Plaza and the retail outlets along Upper Thomson Road.

At the other end of the spectrum, the biggest loss in terms of resale transactions was incurred by a seller of a 4-bedder at Cliveden at Grange. Purchased in Nov 2007 for $12.05 million ($4,242 psf), the 2,842 sq ft unit was sold for $5.05 million ($1,777 psf), netting the seller a loss of $7 million (–58%). It also marked a new record-low psf price. The second-largest loss was a $2.64 million hit, when a 2,153 sq ft three-bedroom unit was sold in April 2022 for $8.3 million.

Located along River Valley in District 10, Zion Road GLS’s Cliveden At Grange is a freehold condo completed in 2011 with 110 units of three- to five-bedroom apartments occupying 2,153 to 6,028 sq ft.

The sale prices at The Atria At Meyer, Flame Tree Park, and Cliveden At Grange, demonstrate the vast range of returns possible through Singapore’s condo resale market. Zion Road GLS’s fluctuating fortunes are testament to the unpredictable nature of the property market.