Three-bedroom unit at Regency Park sold for $2.47 mil profit

By Timothy Tay / EdgeProp | October 19, 2017

A three-bedroom unit at Regency Park, in Prime District 10, was sold for a $2.47 million profit on Oct 10. The 3,175 sq ft unit on the 20th floor was bought in 2003 for $2.6 million ($819 psf) and sold for $5.07 million ($1,597 psf). This translates into an annualised profit of 5%.

This is the most profitable transaction at Regency Park this year. The second-largest profit this year was registered in August when a 3,647 sq ft, four-bedroom unit on the 14th floor was sold for a $2.2 million profit.

There has been one unprofitable transaction at Regency Park this year, according to URA caveats.

In September, the owner of a 3,647 sq ft unit on the 15th floor incurred a loss of $530,000. The unit was purchased in 2012 for $6.88 million ($1,885 psf) and sold for $6.35 million ($1,740 psf).

Regency Park is a 292-unit freehold condominium completed in 1990. It comprises three- and four-bedroom units and penthouses. Three-bedroom units are 2,227 to 3,281 sq ft, four-bedroom units are 3,454 to 3,647 sq ft and penthouses are 6,047 to 6,412 sq ft.

Located on Nathan Road, Regency Park is 400m to Valley Point Shopping Centre and accessible via River Valley Road and Grange Road.

Over in District 4, two units at Caribbean at Keppel Bay were sold for profits of $992,800 and $795,225.

On Oct 5, the owner of a 1,636 sq ft, three-bedroom unit on the fifth floor made a $992,800 (65%) profit when the unit was sold for $2.5 million ($1,546 psf). He bought the unit from the developer in 2000 for $1.5 million ($940 psf). After a holding period of almost 17 years, he made an annualised profit of 3%.

This marks the most profitable transaction for a unit at Caribbean at Keppel Bay this year.

A 1,281 sq ft unit on the sixth floor of the Caribbean at Keppel Bay was sold on Oct 6 for a $795,225 (84%) profit. The unit was bought for $944,775 ($738 psf) in 2006 and sold at $1.74 million ($1,358 psf). The owner made an annualised profit of 6% over 11 years.

There have been 36 transactions at Caribbean at Keppel Bay this year, with 19 profitable ones, according to the matching of URA caveat data.

Previously, the highest profit at Caribbean was registered in February, when a 4,650 sq ft penthouse fetched a $940,880 profit.

The 969-unit development by Keppel Land comprises 22 ten-storey towers, with a mix of two- to four-bedroom units and penthouses ranging from 840 to 6,135 sq ft. Most towers have views of waterways or pools, and some have views of the sea and Sentosa Island.

Completed in 2004, the 99-year leasehold Caribbean at Keppel Bay is popular with expatriates and owner-occupiers because of its proximity to HarbourFront and VivoCity Mall.

This article appeared in the EdgeProp Pullout, Issue 802 (Oct 23, 2017)