Seller Four Seasons Park Rakes 4 Million Profit

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During the week of March 4 to 11, a four-bedroom unit at Four Seasons Park recorded the highest resale transaction profit, selling for $4 million (114%) more than its previous purchase in May 2006. The 2,260 sq ft unit on the 16th floor sold for $7.5 million ($3,318 psf) on March 11, contributing to an annualised profit of 4.1% over a span of nearly 19 years.This marked the first recorded resale at Four Seasons Park since August 2024, when a 2,260 sq ft four-bedder on the 20th floor went for $7.8 million ($3,451 psf) in September last year. The previous owner had purchased the unit for $4 million ($1,770 psf) in September 2020, pocketing a profit of $3.8 million (95%) and an annualised gain of 18% within three years.Read also: Four Seasons Park sets a new high psf-price of $3,451Based on a compilation of resale caveats by EdgeProp Singapore, the average selling price at Four Seasons Park today stands at $3,385 psf. When the development was first launched, prices ranged from $1,600 psf to $1,700 psf, making it the first hotel-branded residence in Singapore at the time.A freehold condo on Cuscaden Walk, Four Seasons Park is strategically located near the Orchard Road shopping belt in prime District 10. It features three 26-storey residential towers and boasts a total of 202 units. In comparison, the 999-year leasehold St Regis Residences Singapore, which is another branded residence located in the Tanglin Road area, has an average selling price of $2,500 psf. However, the recent launch of luxury projects in the surrounding area such as Boulevard 88 shows that prices have been hovering at around $3,930 psf. This also comes ahead of the debut of UOL Group’s latest 301-unit luxury project, UpperHouse, this year.Meanwhile, the sale of a 1,238 sq ft three-bedroom unit at Newton Suites was the second-most profitable resale transaction in the week of March 4 to 11. The unit, which is situated on the 30th floor, was sold for $3.01 million ($2,432 psf) on March 7. It had previously been sold for $1.14 million ($917 psf) back in April 2005. This earned the seller a profit of $1.88 million ($165%) with an annualised profit of 5% over 20 years.Similarly, the highest resale profit at Newton Suites before that was recorded in 2018, following the sale of a 1,238 sq ft unit on the 10th floor which went for $2.5 million ($2,020 psf). This marked a $1.45 million profit (138%) from the original purchase of $1.05 million (848 psf) back in April 2005.Situated along Newton Road in prime District 11, Newton Suites is surrounded by major shopping malls such as United Square, Novena Square, and Square 2. The 118-unit development, completed in 2007, comprises a single 35-storey residential tower that offers a mix of two- and three-bedroom units and three-bedroom penthouses. Prices at the development have largely remained stagnant over the past three years based on resale data compiled by EdgeProp Singapore. Capital appreciation at the project has also plateaued after peaking at $2,190 psf in November 2021, up from $977 psf in October 2004.Broadcasting the sale of a 2,680 sq ft four-bedroom unit at Seascape as the most unprofitable transaction during the week, the unit was sold for $4.6 million ($1,716 psf) on March 10. This marked a $2.67 million (37%) loss as the seller had purchased the seventh-floor unit for $7.28 million ($2,712 psf) back in August 2010. This transpired as the fifth consecutive resale at Seascape where owners have sustained losses since December 2023. In May last year, the most recent loss of $1.75 million occurred as 2,680 sq ft unit changed hands for $5.05 million ($1,884 psf).Located along Cove Way in Sentosa, Seascape falls amongst a cluster of 99-year leasehold seafront condos situated at exclusive Sentosa Cove enclave. Other residential developments in the same area include Cape Royale, The Oceanfront, and The Coast. A total of 151 units were completed at Seascape in 2012, consisting of a pair of eight-storey residential blocks.