According to the latest property news by EdgeProp Singapore (last updated in November 2020), a transaction at The Claymore made the highest profit in Singapore’s real estate market over the week of October 20 to 27. A condo unit in the luxury development was sold for $8.7 million or $2,599 psf. This allowed the seller to yield a maximum gain of $4.85 million. Check out which other condos reaped the highest returns or lost the most profit in the same week.
Highest profit gain: The Claymore at District 9
The latest condo for sale was a 3,348 sq ft unit on the 15th floor of one of The Claymore’s two residential buildings. The seller previously bought it in March 1999 for a lower price of $3.85 million, or $1,150. More than two decades later, it was sold for $8.7 million. This allowed the seller to make a whopping 126% profit. When annualized, this meant they made 4% every year throughout its 22-year holding period.
The Claymore is a freehold condominium development located along Claymore Road at prime District 9. It was developed in 1986 by Tokyo Land Corporation Singapore Pte Ltd, a boutique developer based in Singapore. It comprises 146 condo units across its 25-storey skyscrapers that sit on an enormous land size of more than 200,000 sq ft. The Claymore is a luxury development tailored for ultra-wealthy families with deep pockets to afford its massive units ranging from 3,348 to 4,919 sq ft.
What makes it an excellent property investment is its prime location. While it’s situated in Claymore Road’s quiet and exclusive neighbourhood, it’s also near various landmarks and attractions. It’s notably just a 5-minute walk to the famous Orchard Road and a ten-minute drive from the Central Business District. It’s also just eight minutes away from Orchard MRT station by foot.
Highest profit gain: The Orchard Residence at District 9
The second property investment that yielded the highest returns the same week was from a transaction at The Orchard Residences. The seller gained a 25% profit of 1.68 million after selling a 2.465 sq ft condo unit on the 14th floor. The seller previously purchased it in March 2007 at a lower price of $6.82 million, or $2,768 psf. More than a decade later, the unit was sold for $8.5 million, or $3,448 psf. This roughly translates to an annualized profit of 2% in its 14-year holding period.
The Orchard Residences is a 99-year leasehold condominium situated at Orchard Boulevard in District 9. It was developed in 2010 by Orchard Turn Residential Development Pte Ltd. The residential project is comprised of 52 storeys and 175 condo units. It’s located near the Orchard Road shopping belt and is just a 10-minute drive to the business hub. It’s also within a three-minute walking distance to Orchard MRT Station.
Highest profit gain: Avon Park at District 13
The third most profitable transaction was at Avon Park, located on Youngberg Terrace in District 13. The seller collected a 135% profit of $1.39 million. The deal was for a 1,711 sq ft residence on the fourth floor of the development. The seller previously bought the unit in November 2007 for a lower price of $1.04 million, or $608 psf. After 13 years, it was sold double its price at $2.43 million, or $1,420 psf. The annualized profit is 7% for its entire 13-year holding period.
Avon Park is a condominium development built by Avon Development Pte Ltd in 1991. It’s comprised of 179 freehold units across its 13 floors. It’s notably just two minutes away from the Woodleigh MRT Station.
Biggest profit loss: Reflections at Keppel Bay at District 4
This week’s biggest loss was a 5, 167 sq ft condo unit at Reflections at Keppel Bay. The seller incurred an 8% loss, a total of $827,000. The seller initially bought the property in August 2007 for a higher price of $9.92 million or $1,920 psf. 13 years later, it was sold for 9,09 million or $1,760 psf. This roughly translates to a 1% annualized loss for over 13 years.
Reflections at Keppel Bay is located on Keppel Bay View in District 4. Keppel Bay Pte Ltd built the residential project in 2011, and it’s comprised of 1,129 condo units on a 99-year leasehold. The development is situated near the sea and is just a few-minute walk to Telok Blangah MRT Station.