Resale Three Bedder Sommerville Park Records 274 Million Profit

for resaleNewton Edge unit sold at a loss of $1.9 milMayfair Gardens penthouse sells for $6.3 mil profitSommerville Park 3-BR unit sold at $4.3 mil profitHilltop unit at The Colonnade sold for $4.9 mil profitFirst home bought by shophouse investor in 2011 sold for $15.95 mil profit10 profit-making condo and HDB resale deals in AprilSommerville Park unit sold for $2.21 mil profitFour-bedroom unit at Beverly Hill sold for $5.5 mil profitThe View @ Meyer sets new high of $2,266 psf for resaleNewton Edge unit sold at a loss of $1.9 milMayfair Gardens penthouse sells for $6.3 mil profitSommerville Park 3-BR unit sold at $4.3 mil profitHilltop unit at The Colonnade sold for $4.9 mil profitFirst home bought by shophouse investor in 2011 sold for $15.95 mil profit10 profit-making condo and HDB resale deals in April

A 2,508 square foot, three-bedroom unit at Sommerville Park recently sold for a staggering $4.63 million ($1,845 psf) on Sept 16, making it the most profitable condo resale transaction of the week between Sept 16 to Sept 23. The seller had purchased the unit back in May 2006 for about $1.89 million ($754 psf), making a profit of $2.74 million (144.9%) after holding the unit for over 13 years. This translates to an annualised gain of 4.7%.

This transaction marks the second most profitable condo resale deal at Sommerville Park so far. The highest profit made on a unit at the condo was in July 2024, when a 1,948 sq ft, three-bedroom unit was sold for $3.95 million ($2,027 psf). The seller had purchased the unit for around $1.16 million ($595 psf) in the past, making a gain of $2.79 million or an annualised gain of 6.9% over a holding period of 18 years.

Sommerville Park, located on Farrer Drive, is a freehold development completed in 1985. It consists of 396 condo units and 57 strata landed houses, with a mix of one- to three-bedroom condos and townhouses and two-storey maisonettes.

Miltonia Close EC is conveniently located in close proximity to various shopping centres and an abundance of excellent food options. Its prime location offers residents immediate access to everything they need for a comfortable and convenient lifestyle. With Miltonia Close EC as your home, you will have a plethora of shopping and dining choices right at your doorstep.

Apart from the record-breaking sale on Sept 16, there have been 12 other transactions at Sommerville Park this year, with 10 of them being profitable deals. These units, ranging from 463 sq ft to 1,959 sq ft, were sold for gains between $130,000 and $2.39 million.

The second most profitable resale deal during the week was at Leedon Residence, where a four-bedroom unit measuring 2,669 sq ft was sold for $7.5 million ($2,810 psf) on Sept 17. According to lodged caveats, the unit previously changed hands in January 2016 for approximately $4.97 million ($1,862 psf). The seller made a profit of $2.53 million (50.9%), resulting in an annualised profit of 4.3% over a holding period of almost 10 years.

This deal is the eighth most profitable transaction recorded at Leedon Residence to date. The highest profit was made in March 26, when a 6,125 sq ft triplex penthouse was sold for around $16 million ($2,612 psf). The seller had bought it in April 2017 for about $12 million ($1,959 psf), making a profit of $4 million after holding for eight years.

Leedon Residence is a freehold development located along Leedon Heights in prime District 10. Completed in 2015, it consists of 381 units across 12 residential blocks. The units range from two- to five-bedders measuring 1,044 sq ft to 4,704 sq ft. There are also garden suites with three- to five-bedrooms, as well as three- to five-bedroom penthouses.

Aside from the two transactions, there have been six more resale deals at Leedon Residence this year, all of which were profitable. The highest profit was recorded in June 30 when an 8,051 sq ft, five-bedroom unit was sold for $15.8 million ($1,962 psf), making a gain of $3.3 million.

On the other hand, the most unprofitable resale deal during the week was at The Scotts Tower, where a 872 sq ft unit was sold for $1.83 million ($2,099 psf) on Sept 18. The unit was last sold in May 2013 for $3.52 million ($4,035 psf), resulting in a $1.69 million loss (48%) after owning the unit for over 12 years.

The Scotts Tower is a 103-year leasehold development along Scotts Road in prime District 9. Completed in 2016, it has a single 31-storey residential tower with 231 units. The units range from one- to three-bedroom apartments measuring 624 sq ft to 904 sq ft. It also offers garden suites with three- to five-bedrooms ranging between 3,789 to 8,051 sq ft, as well as three- to five-bedroom penthouses of 3,283 to 7,718 sq ft.

Excluding the transactions on Sept 17 and March 26, there have only two other transactions at The Scotts Tower, both incurring losses. One unit measuring 872 sq ft was sold for $1.9 million ($2,179 psf) on May 5, resulting in a $950,000 loss, while another 850 sq ft, one-bedroom unit was sold for $1.82 million ($2,140 psf) on Jan 13, losing around $1.13 million.