SINGAPORE (EDGEPROP) - The sale of a unit at luxury condo Ardmore Park was the most profitable condo resale transaction recorded during the week of May 23 to 30. The seller of the four-bedroom, 2,885 sq ft apartment made a profit of $7.05 million after it was sold for $12.9 million ($4,472 psf) on May 29. The unit had been purchased from the developer for $5.85 million ($2,029 psf) in July 1996. Hence, the seller made a 120% profit over a holding period of nearly 27 years. According to a propert
was the most profitable condo resale transaction recorded during the week of May 23 to 30. The seller of the four-bedroom, 2,885 sq ft apartment made a profit of $7.05 million after it was sold for $12.9 million on May 29. The unit had been purchased from the developer for $5.85 million in July 1996. Hence, the seller made a 120% profit over a holding period of nearly 27 years.
Ardmore Park is a 330-unit, freehold condo located in the prestigious Ardmore Park area in prime District 10. Developed by Wharf Estates Singapore, the former Wheelock Properties, the high-end condo was completed in 2001 and has three 30-storey towers. Typical units at the condo are 2,885 sq ft, four-bedroom apartments but it also has six 8,740 sq ft duplex penthouses. Last July, the development saw a new psf-price high of $4,881 when a four-bedroom apartment changed hands for $14.08 million.
The seller of a three-bedroom unit at Scotts 28 made a gain of $1.98 million when it was sold for $4.3 million on May 26
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