Parc Stevens’ five-bedroom unit sold for $2.65 million in profit

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The resale of a top floor unit in Parc Stevens which is a condominium located on Stevens Drive, off Stevens Road in the District 10 area of prime it was the most profitable sale of a condo recorded in the week from April 4-11 based on caveats filed. The 3,466 square foot five-bedroom property sold for $7.86 million ($2,265 per square foot) in April 10. The unit was purchased from the vendor for $5.2 million ($1,500 per square foot) on April 7, 2007. That’s an income of $2.65 millions (51%) after holding the unit for 16 years.

This transaction is the highest PSF-price ever recorded at Parc Stevens and is the first time that a unit has changed ownership this year. It’s also the second highest-profit transaction recorded at the facility. The most profitable deal occurred in May when an area of 3,305 square feet situated on the fourth floor was sold to the value of $6.23 million ($1,885 per sq ft). The buyer, who purchased the property at $4.23 million ($1,059 per square foot) on July 5, 2005 earned a profit that was $2.73 million.

Parc Stevens is the name of a freehold condominium that was built in 2000. It is comprised of three lowrise units that are spread over four stories each. They are made up of three- and five-bedders that range from 1,722 sq feet. The condo is just a five-minute walk from the Stevens MRT Station, which serves as an interchange point for the Downtown as well as the Thomson-East Coast Lines.

The second highest-profitable deal recorded during the week of review was Yong An Park which is a freehold condominium located in the River Valley area. A four-bedroom property measuring 3,434 square feet located at the top of 10 floors was sold for $8.1 million which is equivalent to $2,359 per square foot on the 6th of April. The buyer purchased the property at $6.02 million ($1,753 per square foot) at the end of March. This resulted in gains in the amount of $2.08 millions (35%) over a duration which was 11 years.

The second building in Yong An Park to change hands this year to date. The unit was sold in March. square ft unit located on the 7th floor purchased to a buyer for $4.25 million ($2,350 per sq ft). Prior to this, an 1,023 square feet unit on the ninth floor had sold for $2.4 million ($2,347 per sq ft) in December.

In 1986, the park was completed. Yong An Park has a total of 288 homes. They are comprised of one- to four-bedders ranging from 1,023 sq ft to 3,552 sq feet. There are penthouses that span between 3,466 square feet and 6,878 sq feet, in addition to a range of townhouses starting at 7,718 square feet. The development is just a five-minute walk from the Great World MRT Station on the Thomson East Coast Line.

However, the least profitable transaction that took place in the week under review included the purchase of four bedrooms condominium in Marina Bay Suites. On April 10 the 2,680 sq ft unit located on the 25th floor of Marina Bay Suites was sold at $5.25 million ($1,959 per square foot). The seller bought the property at the expense of developer at $6.39 million ($2,383 per square foot) on December 9, 2009. The result was losses that was $1.14 Million (18%) across a time period of more than 13 years.

Marina Bay Suites is a 99-year leasehold project situated on Central Boulevard in the Marina Bay financial district. The 66-storey residential tower is part of a joint venture between Keppel Land, Cheung Kong Holdings and Hongkong Land. It was completed in 2013. includes 221 apartments. The typical residences comprise three and four bedroom units that span from 1,572 sq ft to 2,691 square feet.

The condo has witnessed an increase in resales transactions occur over the past two years. Since January 20, 2021, a total of 24 resales occurred at the building, of which 23 occurred lower than the purchase price in accordance with caveats that were lodged. The sellers have experienced losses of between $7,000 and $3.25 million.