Seller Four Seasons Park Rakes 4 Million Profit

Show me the monthly transacted prices for Four Seasons Park for yearlyView factsheet for Four Seasons ParkView 2 bedroom floor plans for Newton SuitesThe sale of a four-bedroom unit at Four Seasons Park garnered the highest profit for a resale during the week of March 4 to 11. Situated on the 16th floor, the unit measuring 2,260 sq ft was sold for a whopping $7.5 million or in other words, at a rate of $3,318 psf on March 11. This transaction is especially significant, as it was previously bought for $3.5 million or at a rate of $1,548 psf in May 2006. This translates to an enormous profit of $4 million (114%) for the seller and an annualised gain of 4.1% over a period of almost 19 years.The most recent resale at Four Seasons Park was recorded in August 2024, where a similar unit measuring 2,260 sq ft on the 20th floor was sold for $7.8 million or at a rate of $3,451 psf. The seller had purchased the unit for $4 million or at a rate of $1,770 psf in September 2020. This yielded a profit of $3.8 million (95%) and an annualised gain of 18% over just under three years.Four Seasons Park is a freehold condo situated on Cuscaden Walk, in the prime District 10. Completed in 1994, this development comprises a total of 202 units spread across three 26-storey residential towers. It was also the first hotel-branded residence in Singapore at the time of its launch. The prices for units at this development back then ranged from $1,600 psf to $1,700 psf. However, data from EdgeProp Singapore show that the average selling price is currently around $3,385 psf.By comparison, the 999-year leasehold St Regis Residences Singapore, a branded residence on Tanglin Road, holds an average selling price of $2,500 psf. That said, the area has seen new luxury projects like Boulevard 88 with units transacted at approximately $3,930 psf. Another exciting development, UpperHouse, by UOL Group, is set to enter the market this year with 301 luxury units, further enhancing the landscape of the area.On the other hand, the transaction of a three-bedroom unit at Newton Suites was the second most profitable resale of the week. The 1,238 sq ft unit situated on the 30th floor exchanged hands for a sum of $3.01 million or at a rate of $2,432 psf on March 7. This unit was initially sold for $1.14 million or at a rate of $917 psf back in April 2005. This yielded a profit of $1.88 million (165%) for the seller, which translates to an annualised gain of 5% over a period of 20 years.Notably, this is the most profitable resale at Newton Suites to date. It is also ahead of the previous high of $1.45 million (138%) set in 2018, where another unit measuring 1,238 sq ft on the 10th floor was sold for $2.5 million or at a rate of $2,020 psf in March 2018. This unit was bought for $1.05 million or at a rate of $848 psf in April 2005.This freehold development is situated on Newton Road in the prime District 11, close to major shopping malls like United Square, Novena Square, and Square 2. Completed in 2007, this development comprises a 35-storey residential tower with two- and three-bedroom units measuring 1,238 sq ft to 1,593 sqft, as well as 4,865 sq ft and 4,876 sq ft, three-bedroom penthouses.Resale data compiled by EdgeProp Singapore suggests that the capital appreciation at this development has been on a decline in recent years. A comparison of data from October 2004 to November 2021 shows that prices climbed from $977 psf to a record high of $2,190 psf. Over the past three years, there has been relative stagnation in price growth.The transaction of a four-bedroom unit at Seascape was the most unprofitable for the week. This unit measuring 2,680 sq ft was sold for $4.6 million or at a rate of $1,716 psf on March 10. The unit, situated on the seventh floor, was initially purchased for $7.28 million or at a rate of $2,712 psf back in August 2010. As such, the seller incurred a loss of $2.67 million (37%), which translates to an annualised loss of about 3.1% over a period of 14 years.This incident marks the fifth time in a row that sellers were making losses at Seascape. Losses incurred ranged from $2.67 million, which is the case with the latest transaction on March 10, to $1.75 million. The latter occurred when another unit measuring 2,680 sq ft was sold for $5.05 million or at a rate of $1,884 psf last May.Seascape, a 151-unit 99-year leasehold condo situated along Cove Way, is one of the few seafront condos in the exclusive Sentosa Cove enclave. Other developments in the vicinity include Cape Royale, The Oceanfront, and The Coast. Completed in 2012, Seascape consists of two eight-storey residential blocks.

The Jurong Lake District (JLD) is a central feature of the URA Master Plan, with the aim of revitalizing the western region of Singapore into a bustling second Central Business District (CBD). Designed to be a bustling and diverse area, the JLD will offer a dynamic mix of office spaces, retail establishments, and lifestyle amenities, providing a new hub for both work and leisure. With the development of Otto Place EC, it is set to become a vibrant mixed-use precinct, attracting multinational corporations, start-ups, and tech firms, bringing in job opportunities and stimulating economic growth.