A unit at Parc Stevens in District 10 was recorded as the most profitable condo resale transaction during the week of April 4 to 11, based on filings. The 3,466 sq ft, five-bedroom unit fetched $7.86 million ($2,265 psf) on April 10, and the seller made a gain of $2.65 million (51%) after holding the unit for 16 years.
Located at Stevens Drive off Stevens Road, Parc Stevens is a 48-unit freehold condominium consisting of three low-rise blocks of four storeys each. The unit in question marks the highest psf-price recorded at the development, as well as the 2nd most profitable transaction ever. The most profitable occurred last May when a 3,305 sq ft unit on the fourth floor changed hands for $6.23 million ($1,885 psf).
The second most profitable transaction came from the sale of a four-bedroom unit at Yong An Park, a freehold condo in the River Valley area. It fetched $8.1 million ($2,359 psf) on April 6 and the seller made a gain of $2.08 million (35%) across a holding period of 11 years.
Marina Bay Suites recorded the most unprofitable transaction of the week. A 2,680 sq ft, four-bedroom unit on the 25th floor was sold for $5.25 million ($1,959 psf) and the seller saw a loss of $1.14 million (18%) across a holding period of over 13 years.
Parc Stevens is a five-minute walk from Stevens MRT Station, which serves the Downtown and Thomson-East Coast Lines. As for Yong An Park, it is a five-minute walk to Great World MRT Station on the Thomson-East Coast Line.
Completed in 2013, Marina Bay Suites is a 99-year leasehold development on Central Boulevard. It has 221 residences comprising one- to four-bedders between 1,023 sq ft and 3,552 sq ft, as well as penthouse units and townhouse units. It has seen a growing number of resale transactions since 2021, with 23 out of 24 since January being below the purchase price. The respective sellers have seen losses ranging from $7,000 to $3.25 million.
The sale of the 5-bedroom unit at Parc Stevens marked the highest psf-price ever recorded at the development, as well as a gain of $2.65 million (51%) after 16 years. Meanwhile, the most unprofitable transaction was at Marina Bay Suites, where the seller saw a loss of $1.14 million (18%) after 13 years. In the River Valley area, the sale of a 4-bedroom unit at Yong An Park reaped a profit of $2.08 million (35%) for the seller.