Three-bedder at Goldenhill Park Condominium scores $2.55 mil profit

Goldenhill Park Condominium, a freehold development in the Serangoon area, logged the most profitable resale condo deal over the week of Aug 18 to 25.

The owner of a three-bedroom apartment on the 16th floor raked in a profit of over $2.55 million (269.5%) when it was sold on Aug 19 for $3.50 million ($2,665 psf).

That works out to a 5.6% gain on an annualised basis over a holding period of 24 years. The 1,313 sq ft unit had been purchased from the developer in 2002 for $947,300 ($721 psf).

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This ranks as Goldenhill Park Condominium’s second-most profitable deal thus far. It surpasses a recent deal in July, which involved a slightly larger three-bedder that brought in a profit of around $2.42 million when it was sold for $3.40 million. The owner had previously bought the unit for $981,900 in 2001.

A resale from a week prior, on Aug 11, continues to hold the record for the development’s biggest gain to date. In that transaction, the owner reaped a profit of $2.59 million from the sale of a four-bedder for $3.65 million. It was initially purchased for $1.06 million in 2001.

The 390-unit Goldenhill Park Condominium was completed in 2004 and sits on Mei Hwan Drive in District 20. Lorong Chuan MRT Station is a 10-minute walk away, while Nex mall is six minutes away by car.

Next on the list of the week’s most profitable resale condo transactions was the sale of a 2,583 sq ft, four-bedroom unit at District 10 freehold condo Astrid Meadows.

The second-floor unit changed hands for $5.98 million ($2,313 psf) on Aug 19, garnering a profit of about $2.18 million. This translates into a 2.4% gain when annualised over a holding period of more than 19 years. The unit had been purchased in 2007 for $3.80 million ($1,471 psf).

Astrid Meadows’ most profitable transaction belongs to a deal in 2024, when the seller of a four-bedder reaped $4.95 million in profit. The apartment was sold for $7.05 million, more than triple the earlier purchase price of $2.10 million back in 2004.

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Apart from the Aug 19 deal, Astrid Meadows has logged two other resales this year, both in the black and involving two-bedders. The units were sold for $3.15 million and $3.18 million, netting profits of $712,000 and $200,000, respectively.

Completed in 1990, Astrid Meadows is a low-rise condo situated on Coronation Road West, near Bin Tong Park. The development has 208 units in one- to five-bedroom layouts sized between 872 and 3,810 sq ft, as well as penthouses of up to 6,771 sq ft. Eateries and amenities at Holland Village are a five-minute drive away.

Meanwhile, the steepest loss among condo resales during the week in review involved a four-bedder at Reflections at Keppel Bay.

The transaction left the seller nearly $1.99 million in the red, which works out to an annualised loss of 1.7% over a holding period of 19 years. Situated on the fourth floor, the 2,939 sq ft unit — which was bought in 2007 for $7.29 million ($2,479 psf) — changed hands for $5.30 million ($1,804 psf) on Aug 18.

That said, this deal is nowhere near the least profitable one seen at the District 4 condo. A 7,050 sq ft penthouse holds that record with a loss of $6.95 million. It was purchased from the developer in 2007 for $17.95 million and was subsequently sold in 2021 for $11 million.

Located along Keppel Bay View, Reflections at Keppel Bay is a 99-year leasehold development completed in 2011. It houses 1,129 units across one- to four-bedroom types, with sizes ranging from 732 to 4,919 sq ft.

Read also: Seller of five-bedder at Leedon Residence reaps $3.75 mil profit

The development is a 10-minute walk to Telok Blangah MRT Station, and is a five-minute drive to VivoCity mall. It is next to the upcoming Berlayar waterfront estate, within the Greater Southern Waterfront.

Caveats lodged show that there have been 37 other resale deals at Reflections at Keppel Bay this year. Of these, 20 were in the red, incurring losses ranging from $50,000 to $1.54 million.