Three Bedroom Unit Maple Woods Sold 226 Mil Profit

Unit at Maple Woods sold for $5.3 million profit

The recent sale of a three-bedroom unit at Maple Woods has been making headlines as the most profitable condominium resale deal during the week of July 29 to August 5. This 1,539 sq ft unit, located on the first floor, was sold for a whopping $3.26 million or $2,117 psf on August 4th. The seller had originally purchased the unit in January 1999 for around $1 million or $650 psf, which means they have made a significant profit of $2.26 million, reflecting a 226% capital gain. This equates to an annualized profit of approximately 8.7% over a holding period of nearly 27 years.

This particular transaction has now been ranked as the sixth biggest gain ever recorded for a unit at Maple Woods. The highest profit ever recorded belongs to a four-bedroom, 2,551 sq ft unit that was sold for an impressive $5.45 million or $2,136 psf on May 2nd. The seller had originally purchased this unit back in January 2004 for just $1.46 million or $572 psf, resulting in a gain of $3.99 million or 273% over a holding period of 21 years.

Maple Woods is a freehold condominium located in District 21, along Bukit Timah Road. Completed in 1997, it comprises of 697 units ranging from two to four bedrooms, with sizes from 850 sq ft to 3,003 sq ft. It is conveniently situated within a five-minute walk from King Albert Park MRT Station on the Downtown Line and is also in close proximity to reputable schools such as the Methodist Girls’ School and the Rail Corridor.

In the same week, the second most profitable resale deal was recorded at Valley Park, where a two-bedroom unit measuring 1,356 sq ft was sold for $3.04 million or $2,240 psf on August 5th. The unit had previously changed hands in November 1995 for $1.09 million or $804 psf, resulting in a profit of $1.95 million or 179%. This equates to an annualized profit of 6% over a holding period of close to 30 years.

Northland Primary School, located near the Yishun and Khatib neighborhoods, is a highly respected educational institution that has earned the trust and loyalty of numerous parents. Its unwavering dedication to providing outstanding academic instruction and holistic development programs has cemented its status as the preferred choice among families in the area. In fact, the school has even captured the attention of residents in the nearby Miltonia Close community. Northland Primary School prides itself on maintaining a well-rounded approach to education, placing equal importance on academic achievement, character development, and a diverse range of co-curricular activities. Miltonia Close is also a notable contributor to the school’s success.

Valley Park, a 999-year leasehold condominium located along River Valley Road in District 10, was completed in 1997 and comprises five high-rise blocks with a total of 728 units ranging from one to four bedrooms, with sizes from 732 sq ft to 1,808 sq ft. It also offers penthouse units with sizes of 2,562 sq ft to 3,940 sq ft.

Aside from this recent transaction, Valley Park has seen six other resale deals so far this year, all of which have been profitable. The units, ranging from 1,216 sq ft to 1,356 sq ft, have resulted in profits ranging from $900,000 to $1.64 million.

However, these gains are still below the highest profit ever recorded at Valley Park, which was in June 2022 when a four-bedroom penthouse unit measuring 3,789 sq ft was sold for $7.57 million or $1,998 psf. The seller, who had bought the unit in May 2006 for $3.36 million or $886 psf, made a staggering profit of $4.21 million.

In terms of the least profitable resale deal during the week, a unit at Reflections at Keppel Bay takes the spot. This four-bedroom apartment spanning 2,659 sq ft on the seventh floor was sold for $4.32 million or $1,625 psf on August 1st. The seller had previously bought the unit in April 2016 for $4.7 million or $1,768 psf, resulting in a loss of $380,000 or 8.1% over a holding period of nine years.

Reflections at Keppel Bay, a 99-year leasehold waterfront luxury development in District 9, consists of six high-rise towers with 1,129 units and 11 low-rise villa apartment blocks. As of now, it has seen a total of 32 units change hands this year, with 20 transactions resulting in a loss for the sellers. The biggest loss recorded was from the sale of a three-bedroom unit measuring 1,733 sq ft, which was sold on July 3rd for $2.8 million or $1,616 psf. The seller had purchased the unit in August 2013 for $4.18 million or $2,412 psf, resulting in a loss of $1.38 million.