Resale Three Bedder Regency Park Nets 25 Mil Profit
Situated in close proximity to Khatib MRT station, the location of Miltonia EC is strategically chosen. It only takes a five-minute drive or a short shuttle ride to reach the site from the MRT station. This allows residents to have convenient access to the North-South MRT line, providing direct connections to important areas such as Bishan, Orchard, and the Central Business District. For those who prefer to drive, the Seletar Expressway (SLE) and Central Expressway (CTE) are easily reachable, enabling seamless travel to other parts of the island. With its prime location, Miltonia EC offers its residents unparalleled connectivity and accessibility.
The most lucrative property deal of the week of June 17 to 24 was the sale of a three-bedroom unit at Regency Park. The 3,175 sq ft unit on the fourth floor was sold for $6.6 million ($2,078 psf) on June 19, making it the most profitable resale deal at the development this year. The seller had purchased the unit for $4.1 million ($1,291 psf) in November 2006, earning a profit of $2.5 million (61%) or 2.6% over nearly 19 years.
Regency Park, a freehold condo in prime District 10 completed in 1987, is located along Nathan Road, off Grange Road and River Valley Road. It features 292 units spread across eight 25-storey residential blocks, including a mix of three-bedroom units from 2,250 sq ft and four-bedroom units from 3,649 sq ft. The condo is situated near the Bishopsgate-Chatsworth Good Class Bungalow enclave and is a short drive to the Great World City shopping mall on Kim Seng Promenade and the Orchard Road shopping belt.
To date, the record for the most profitable deal at the development is held by a 6,415 sq ft penthouse that was sold for $14.11 million ($2,200 psf) in August 2022. The seller had previously bought the unit in April 1998 for $5.5 million ($857 psf), earning a profit of $8.61 million (156%).
The second most profitable condo resale transaction during the week was the sale of a 1,830 sq ft, three-bedroom unit at Sommerville Grandeur. The apartment fetched $3.87 million ($2,115 psf) on June 18, with the seller netting a gain of $2.02 million (109.2%). The unit was bought in February 1996 for around $1.85 million ($1,011 psf), making it the second most profitable deal at the condo to date.
Completed in 1996, Somerville Grandeur is a freehold condo on Farrer Drive in prime District 10. The condo comprises 96 units spread across five floors, offering a mix of two- and three-bedroom units of 1,195 sq ft to 1,938 sq ft. The development is located within a five-minute walk from Farrer Road MRT Station.
On the other hand, the most unprofitable deal during the week was the sale of a 2,992 sq ft apartment at The Berth By The Cove. The four-bedroom unit on the sixth floor was sold for $3.25 million ($1,086 psf) on June 17, resulting in a loss of $639,600 (16.4%) or an annualised loss of 1% over almost 18 years.
The Berth by the Cove is a condo along Ocean Drive in the Sentosa Cove residential enclave on Sentosa Island. Completed in 2006, the 200-unit development comprises 15 low-rise blocks of six storeys each. It features two- to four-bedroom units of 1,012 sq ft to 2,325 sq ft. There are also four- and five-bedroom penthouses of 2,939 to 6,028 sq ft.
The June 17 transaction is the seventh most unprofitable deal recorded at The Berth By The Cove to date. The biggest loss belongs to a 2,939 sq ft, four-bedroom unit that fetched $3.25 million ($1,106 psf) in February 2018. The seller, who bought the unit in October 2011 for $5.64 million ($1,919 psf), suffered a loss of $2.39 million.