The seller of a unit at Heritage Apartments located on 4 Ardmore Park made the top gain of $4.8 million over the week of March 10 to 17. The 3,165 sq ft unit on the eighth floor was bought for $4 million ($1,264 psf) in December 2005 and sold for $8.8 million ($2,781 psf) on March 12. The seller therefore made a 120% profit, or an annualised profit of 6%, over 14 years.
Heritage Apartments is located in District 10 and was completed in 1994 with 19 residential units. The freehold property in the Orchard Road vicinity is a 12-minute walk to Orchard MRT Station on the North-South Line.
The second top gain made over the week was by a unit at Regency Park in River Valley. The seller netted a 123% profit of $3.58 million. The 3,649 sq ft unit on the 12th floor was bought at $2.92 million ($800 psf) in February 2005 and sold for $6.5 million ($1,781 psf) on March 16. This means that the seller made an annualised profit of 5% over 15 years.
Regency Park is a freehold property with 25 storeys and 292 units completed in 1987. Located within a short drive to the Orchard Road shopping belt, Tanglin Mall and Great World City, it is also accessible via River Valley Road and Grange Road. It is a 15-minute walk to the upcoming Orchard Boulevard MRT Station on the Thomson-East Coast Line, which is expected to be completed next year.
A unit sold at The Calrose along Balmoral Park in District 10 made the third largest profit over the week, at a 138% gain of $1.78 million. The 2,756 sq ft unit on the fifth floor was bought in June 2005 for $1.29 million ($467 psf) and sold for $3.07 million ($1,113 psf) on March 13. The seller therefore made an annualised profit of 6% over close to 15 years.
The Calrose is a freehold condominium that comprises five storeys and 421 units. Completed in 1987, it is a 17-minute walk to Yio Chu Kang MRT Station on the North-South Line.
On the other hand, the greatest loss incurred over the week was from the resale of a 1,152 sq ft unit on the 12th floor at The Cape. It was sold for $1.97 million (1,710 sq ft) on March 16. The unit was bought in April 2012 for $2.42 million ($2,100 sq ft). This means the seller suffered a 19% loss of $448,920. Over a holding period of nearly eight years, this translates to an annualised loss of 3%.
The Cape is a freehold condominium with 76 residential units. Completed in 2014, it is a short drive to Parkway Parade and East Coast Park. It will be a five-minute walk to Tanjong Katong MRT Station on the Thomson-East Coast Line, which is slated for completion in 2023.