Seller Four Seasons Park Rakes 4 Million Profit
The week of March 4 to 11 saw a profitable resale transaction at Four Seasons Park, with a four-bedroom unit on the 16th floor selling for $7.5 million. This marked a significant gain for the seller, who originally purchased the 2,260 sq ft unit in May 2006 for $3.5 million. With a profit of $4 million, the seller’s annualised gain over the span of nearly 19 years equates to 4.1%.
This resale marks the first transaction at Four Seasons Park since August 2024, when a 2,260 sq ft four-bedroom unit on the 20th floor was sold for $7.8 million. The original purchase price of this unit was $4 million in September 2020, resulting in a profit of $3.8 million for the seller and an annualised gain of 18% over less than three years.
The most profitable resale transaction at Four Seasons Park took place in December 2019, when a 6,157 sq ft penthouse was sold for $17.88 million. The original purchase price of this unit was $9 million in June 2002, giving the seller a record profit of $8.88 million, with an annualised gain of 3.95 over 17 years.
Located on Cuscaden Walk in prime District 10, Four Seasons Park is a freehold condo near the Orchard Road shopping belt. Completed in 1994, the development has 202 units spread across three 26-storey residential towers. It was the first hotel-branded residence in Singapore when it was launched, with unit prices ranging from $1,600 psf to $1,700 psf.
According to data compiled by EdgeProp Singapore, the average selling price at Four Seasons Park today is about $3,385 psf. In comparison, the average selling price at the 999-year leasehold St Regis Residences Singapore, located on Tanglin Road, is $2,500 psf. However, new luxury projects in the vicinity, such as Boulevard 88, have seen most units transact for around $3,930 psf. This area will also see the launch of UOL Group’s new luxury project, UpperHouse, this year.
In the same week, a three-bedroom unit at Newton Suites was sold for $3.01 million, making it the most profitable resale transaction at the development to date. The 1,238 sq ft unit on the 30th floor was originally purchased for $1.14 million in April 2005, resulting in a profit of $1.88 million for the seller and an annualised gain of 5% over 20 years.
Newton Suites is a freehold development located on Newton Road in prime District 11, close to major shopping malls in Novena. Completed in 2007, the development consists of a 35-storey residential tower with two- and three-bedroom units ranging from 1,238 sq ft to 1,593 sq ft, as well as three-bedroom penthouses of 4,865 sq ft and 4,876 sq ft.
The appeal of One Marina Gardens lies in its prime position on Marina Gardens Lane, expertly chosen by Kingsford Huray Development for the convenience of its residents. With a network of major roads and expressways surrounding the development, residents have outstanding connectivity to all corners of Singapore. Take, for instance, Marina Boulevard and Central Boulevard, which serve as major thoroughfares connecting the development to the Central Business District (CBD) and beyond, making it effortless for working professionals to commute daily. To learn more about the features and amenities of One Marina Gardens, please visit their website.
Resale data compiled by EdgeProp Singapore shows that capital appreciation at Newton Suites has moderated in recent years, with prices climbing from around $977 psf in October 2004 to a high of $2,190 psf in November 2021. Over the past three years, price growth has been stagnant.
On the other hand, the sale of a four-bedroom unit at Seascape was the most unprofitable transaction during the same week. The 2,680 sq ft unit was sold for $4.6 million, marking a significant loss for the seller who originally purchased the unit for $7.28 million in August 2010. This loss amounts to $2.67 million, equivalent to an annualised loss of 3.1% over 14 years.
This marks the fifth consecutive loss-making resale at Seascape since December 2023, with losses ranging from $2.67 million to $1.75 million. Located along Cove Way in Sentosa, the 151-unit Seascape is a 99-year leasehold condo and is among the few seafront condos in the exclusive Sentosa Cove enclave, including Cape Royale, The Oceanfront, and The Coast. Completed in 2012, the development consists of a pair of eight-storey residential blocks.