On March 26, a four-bedroom unit at Leonie Gardens changed hands for $3.8 million, or $1,496 psf. The transaction of this luxury condo unit earned the seller a total of $2.35 million or 162% profit. Check out which were the most profitable deals during the week of March 23 to 30, according to the latest property news by EdgeProp Singapore (last updated April 2021).

Most profitable: Leonie Gardens

Leonie Gardens is a 99-year leasehold residential project developed by CapitaLand Limited in 1993. It comprises a total of 138 units spread across its 22-storey towers. It stands tall in Leonie Hill at District 9, with its superbly distinctive red buildings. Its spacious units range from floor size of 1,733 sq ft to 3,348 sq ft.

Its latest transaction was for a fifth-floor unit measuring 2,540 sq ft. Having earned 162% in profit, the deal was the third most profitable transaction at Leonie Gardens since its completion in 1993. The seller first purchased the condo unit in the property market for a much lower price of $1.45 million, or $571 psf, in 2006. In its entire 15-year holding period, an annualized profit of 6.6% was earned.

Leonie Gardens is situated in the exclusive neighbourhood of Leonie Hill. The area around the condominium is known as one of the most prestigious parts of Singapore, with high-end condominium developments such as New Futura and Leonie Condotel developed on it. It’s conveniently located near the Orchard Road shopping boulevard and the Great World City. Other attractions that residents may enjoy are Robertson Quay and Tanglin Mall, both just a short drive away from the condominium.

Most profitable: The Shelford

Another profitable deal for this week was for a 1,453 sq ft condo unit at The Shelford, located in District 11. A three-bedroom unit on the fourth floor was put up for sale for $3.02 million, or $2,082 psf. The seller previously purchased the residence 19 years ago for $1.14 million, or $785 psf. Fast forward to 2021, and their property investment yielded a 165% profit of $1.88 million. This roughly translates to an annualized profit of 5.3%.

This deal marks the fifth most profitable sale in The Shelford ever. The record-high deal that took place was a transaction for a 2,4711 sq ft unit located on the fifth floor in 2007. The sale was able to gain a total of $2.47 million.

The Shelford is a freehold residential project comprised of 215 homes across seven five-storey blocks. Similar to Leonie Gardens, CapitaLand Limited also developed the condominium. It’s located near Botanic Gardens MRT Station and Singapore Botanic Gardens. Schools located near the condominium also include Nanyang Girls’ High School and Primary School, National Junior College, and Hwa Chong Institution.

Most profitable: Dairy Farm Estate

This week’s third most profitable transaction was the sale of a four-bedroom unit at Dairy Farm Estate. The unit was a massive 2,207 sq ft home, and it was sold for a total of $2.28 million, or $1,215 psf. This earned the seller a total of $1.73 million or 182% in profit. When annualized, the seller made 7.6% every year for the past 14 years.

Dairy Farm Estate is a freehold residential development completed in 1989, and it’s a large property that houses over 477 units. Located in Dairy Farm Road at District 23, it sits at a prime area where Hillview MRT Station is just a 10-minute walk away, and Rail Mall in Bukit Batak is also just a short drive away.

Least profitable: The Azure

One of the least profitable real estate deals this week was a sale of a 3,165 sq ft penthouse at The Azure in Sentosa Cove. It recorded a total loss of $3.6 million, making it the least profitable deal in the week of March 23. The seller initially bought it in 2007 for $7.2 million, or $2,275 psf. A few later, it changed hands in March for $3.6 million. This translates to a disappointed 50% loss of $3.6 million. This means that throughout the 13 and a half holding period, the property had an annualized 5% profit loss.

This transaction is considered the development’s most unprofitable sale to date. It recorded the highest loss out of the 24 loss-making transactions in The Azure, and the previous record was when a 1,894 sq ft unit yielded a profit of only $1.77 million.

The Azure is a 99-year leasehold residential project that Frasers Centrepoint Homes developed. The 116-unit building faces a beautiful ocean view of the South China Sea.

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