Five-bedder at Parc Stevens sold for $2.65 mil profit

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A first-floor unit at Parc Stevens was the most profitable condo resale transaction recorded during the week of April 4 to 11. The 3,466 sq ft five-bedroom unit fetched $7.86 million ($2,265 psf). The seller, who purchased the unit for $5.2 million ($1,500 psf) in April 2007, made a gain of $2.65 million (51%) after holding the unit for 16 years. This marks the highest psf-price recorded at Parc Stevens, which is a five-minute walk to the Stevens MRT Station, and the second most profitable transaction ever recorded at the development.

The second most profitable condo resale transaction that week took place at Yong An Park, a freehold development in River Valley. A four-bedroom unit measuring 3,434 sq ft on the 10th floor changed hands for $8.1 million, or $2,359 psf. The seller made a gain of $2.08 million (35%) after they purchased the unit for $6.02 million ($1,753 psf) in March 2012, holding it for 11 years.

Meanwhile, the most unprofitable transaction recorded during the week was the sale of a four-bedroom unit at Marina Bay Suites. On April 10, the 2,680 sq ft unit on the 25th floor was sold for $5.25 million ($1,959 psf). The seller had purchased the unit from the developer for $6.39 million ($2,383 psf) in December 2009, resulting in a loss of $1.14 million (18%) across a holding period of over 13 years.

Since January 2021, 24 resale transactions have taken place at Marina Bay Suites. 23 of these occurred below the purchase price and the respective sellers saw losses ranging between $7,000 and $3.25 million.

The most profitable condo resale transaction of the week of April 4 to 11 was the sale of a first-floor unit at Parc Stevens, a condo on Stevens Drive in prime District 10. The 3,466 sq ft, five-bedroom unit fetched $7.86 million ($2,265 psf) on April 10, which was $2.65 million (51%) more than the seller had paid for it in April 2007. This is the highest psf-price recorded at Parc Stevens, as well as the second most profitable transaction ever recorded at the development.

At Yong An Park, the second most profitable transaction of the week fetched $8.1 million, or $2,359 psf. This translates to a gain of $2.08 million (35%) for the seller, who had bought the unit for $6.02 million ($1,753 psf) in March 2012.

At Marina Bay Suites, the most unprofitable transaction of the week saw the seller make a loss of $1.14 million (18%) when the unit was sold for $5.25 million ($1,959 psf), after they had bought it from the developer for $6.39 million ($2,383 psf) in December 2009.

Overall, 23 out of 24 resale transactions that have taken place at Marina Bay Suites since January 2021 have occurred below the purchase price, resulting in sellers making losses ranging from $7,000 to $3.25 million.

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