Resale Three Bedder Regency Park Nets 25 Mil Profit

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The most lucrative sale of the week of June 17 to 24 was a three-bedroom unit at Regency Park, fetching $6.6 million ($2,078 psf) on June 19. This was the highest gain recorded at the development this year, as the unit was previously purchased in November 2006 for $4.1 million ($1,291 psf), resulting in a profit of $2.5 million (61%). The unit was on the market for nearly 19 years.

Regency Park, a freehold condo in prime District 10, comprises 292 units across eight 25-storey residential blocks. The development offers a mix of three-bedroom units from 2,250 sq ft and four-bedroom units from 3,649 sq ft. The location is highly desirable, being situated near the Bishopsgate-Chatsworth Good Class Bungalow enclave and a short drive to the Great World City shopping mall and Orchard Road shopping belt.

The second most profitable deal during the same period was the sale of a 1,830 sq ft, three-bedroom unit at Sommerville Grandeur, fetching $3.87 million ($2,115 psf) on June 18. The seller bought the unit in February 1996 for around $1.85 million ($1,011 psf), making a gain of $2.02 million (109.2%) after owning the unit for more than 29 years. This is the second most profitable transaction at the development to date, with the highest gain coming from the sale of a similar three-bedroom unit for $3.8 million ($2,077 psf) in January 2024. The seller of the unit purchased it in December 2004 for around $1.25 million ($683 psf), resulting in a gain of $2.55 million (6%) over 19 years.

Located near Khatib MRT station, approximately a five-minute drive or a short shuttle ride away, the Miltonia Close Executive Condominium (EC) boasts a strategic location for its residents. This prime spot grants quick access to the North-South MRT line, providing a direct link to popular hubs like Bishan, Orchard, and the Central Business District. In addition, the nearby Seletar Expressway (SLE) and Central Expressway (CTE) offer convenient connectivity for drivers, allowing easy access to other parts of the island.

The most unprofitable deal during the week was the sale of a 2,992 sq ft apartment at The Berth By The Cove for $3.25 million ($1,086 psf) on June 17. The unit was previously purchased for $3.89 million ($1,300 psf) in August 2007, resulting in a loss of $639,600 (16.4%) or an annualised loss of 1% over nearly 18 years. The Berth by the Cove is a 200-unit condo on Sentosa Island, completed in 2006, comprising two- to four-bedroom units of 1,012 sq ft to 2,325 sq ft, and four- and five-bedroom penthouses of 2,939 to 6,028 sq ft.

Overall, the most profitable sale recorded at Regency Park to date is a 6,415 sq ft penthouse that fetched $14.11 million ($2,200 psf) in August 2022. This unit was previously purchased in April 1998 for $5.5 million ($857 psf), resulting in a profit of $8.61 million (156%). The most unprofitable transaction at The Berth By The Cove is a 2,939 sq ft, four-bedroom unit that was sold for $3.25 million ($1,106 psf) in February 2018, resulting in a loss of $2.39 million.

In summary, Regency Park and Sommerville Grandeur recorded profitable transactions during the week, while The Berth By The Cove recorded the most unprofitable deal.