Ardmore Park unit made S$7.05m revenue; highest capital achieve for resale condos in Might 2023

We’ve been masking month-to-month condominium beneficial properties and losses for the previous few months. Final month, we discovered that condominium items that earned at the very least a 200% achieve in April 2023 have been held for at the very least 15 years. Then again, 32 condominium items have been offered at a loss in the identical month.

Final week, we centered on the capital beneficial properties of govt condominium items that have been offered on the resale market in Might 2023.

Immediately, we’ll be trying on the worthwhile condominium transactions final month. We’ll additionally do an article on the condominium items that made a loss within the coming days, so keep tuned for that.

(Shout out to the info workforce at 99.co, who’ve helped us match the most recent and former transactions of the identical items to calculate the capital beneficial properties and losses of the respective items. Different prices, equivalent to stamp obligation, authorized charges and agent’s commissions, will not be taken into consideration.)

Condos offered in Might 2023 made a revenue averaging S$470k

Primarily based on URA information captured as of 21 June 2023, there have been 820 condominium items resold final month that made a capital achieve, averaging round S$470,000.

Apparently, that is across the similar common capital achieve made by ECs that have been resold in the identical month. (Primarily based on URA information captured as of 21 June 2023, the typical capital achieve made by ECs was round S$473,000.)

However once we look nearer on the capital beneficial properties of final month’s worthwhile transactions, the capital beneficial properties are extra assorted.

For example, the very best capital achieve recorded in Might 2023 is a whopping S$7,046,101 for a 2,885 sqft unit at Ardmore Park. Purchased in July 1996 for S$5,853,899, the unit was offered 27 years later for S$12.9 million final month. This works out to a capital achieve of 120% and an annualised achieve of two.97%.

Lately, the event is greatest recognized for its resident celeb. Again in April 2020 (when Singapore had simply began Circuit Breaker), Vicki Zhao and her husband purchased a penthouse at Ardmore Park for almost S$28 million!

Learn extra: Contained in the $28 million penthouse that Vicki Zhao’s husband, Huang Youlong, purchased. 

In the meantime, on the different finish of the spectrum, the bottom revenue recorded final month was S$1,100 for a 398 sqft unit at Oceanfront Suites. The proprietor(s) had purchased it round 10 years in the past in June 2013 for S$608,900, earlier than promoting it at S$610,000 final month. This additionally signifies that the homeowners had solely made a 0.2% capital achieve (or an annualised achieve of 0.02%).

High 10 beneficial properties made by condos in Might 2023 (by quantum)

Figures (besides ground space) within the desk are rounded off to three important figures.

Resale condos on the market

40% of the highest 10 condominium gainers got here from District 21

60% of the highest 10 condominium gainers got here from the Core Central Area (CCR). The truth is, once we look nearer on the information, the highest 5 condominium gainers have been all from the CCR.

Particularly, these CCR items are situated in District 9 and District 10, that are historically the prime areas in Singapore. Elements equivalent to proximity to the town centre assist assist the worth progress in these districts.

Nonetheless, there’s nonetheless some alternative for owners to earn a excessive capital achieve exterior the CCR.

Among the many prime 10 condominium gainers final month, three items are situated within the Remainder of Central Area (RCR), whereas one is within the Outdoors Central Area (OCR).

However we should always word that these 4 items are all situated in District 21, which is on the north-west of Bukit Timah.

After we evaluate the worth tendencies of resale condos in these three districts, we discover that District 21 has seen the very best appreciation within the final 15 years at 109.67%. That is adopted by District 10 at 84.05% and District 9 at 65.09%.

90% of the highest 10 condominium gainers have been held for at the very least 15 years

Given the lengthy holding interval of most of those items, they have been most likely purchased for owner-occupation as an alternative of property funding. The massive measurement of the items (at the very least 1,300 sqft) alerts this as properly.

The one exception is the New Futura unit, which was offered after 5 years and made a capital achieve of S$3,365,200.

With its District 9 location (to be extra particular, it’s in River Valley), the unit was seemingly purchased with property funding in thoughts.

For starters, it’s inside strolling distance of two MRT stations: Somerset MRT and Nice World MRT. Particularly, the latter was solely opened in late 2022 as a part of Stage 3 of the Thomson-East Coast Line. The elevated connectivity within the space has made close by condos equivalent to New Futura extra enticing to potential house patrons.

If you happen to discovered this text useful, 99.co recommends Checklist of properties inside 1km of Nanyang Main Faculty and Resale condos with dual-key items which are 3-bedroom and larger.