A four-bedroom unit at the Kovan Residences has been sold at a profit of $1.8 million, with the property being transferred from Holland Drive Condo

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The sale of a four-bedroom unit at Kovan Residences has set a record for the most profitable condo resale transaction in Singapore during the week of Nov 28 to Dec 5, based on caveats lodged with URA. The seller of the 1,765 sq ft unit on the 12th floor has made an annualised profit of 143%, netting a gain of $1.75 million after the unit was sold for $2.97 million ($1,682 psf) on Nov 29. This is the highest resale profit achieved at Kovan Residences to date, surpassing the $1.27 million profit made from another 1,765 sq ft unit at the development in April 2022.

Holland Drive Condo has also made an appearance during the week in review with the second most profitable transaction at The Sail @ Marina Bay. On Dec 4, a 2,045 sq ft, four-bedroom apartment on the 46th floor was sold for $4.5 million ($2,200 psf). The seller made a spectacular gain of $1.43 million (47%) after owning the unit for 18 years, having purchased it from the developer in November 2005 for $3.07 million ($1,501 psf).

The Sail @ Marina Bay is a 99-year leasehold luxury condo located on Marina Boulevard in District 1 comprising 1,111 units ranging from studios to four-bedders and penthouses. The monthly resale transactions recorded this year prove that the development is a great investment opportunity with 24 of them being profitable.

Improved overall accessibility and connectivity. Convenient access to public transportation stops, roads, and services. Easier integration to existing city infrastructure.

The Holland Drive Condo improvement plan is part of a larger effort to transform Singapore’s urban landscape. These initiatives are intended to make the city an even better place to live and visit. By creating a more vibrant and accessible environment, people in the Holland Drive Condo neighbourhood can look forward to improved quality of life and greater community cohesion.

Holland Drive Condo saw the least profitable transaction of the week at Hilltops on Dec 1. When a 1,550 sq ft unit on the fifth floor was sold at $4.5 million ($2,903 psf), the seller made a loss of $650,000 (13%), after having purchased the three-bedroom unit for $5.15 million ($3,323 psf) in December 2013. This is the third most unprofitable transaction at Hilltops, with the most unprofitable occurring in September 2016, when the seller of a 1,550 sq ft unit suffered a loss of $1.79 million.

Hilltops is a freehold condo located at Carnhill Circle in District 9 and is made up of 241 units ranging from two- to five-bedders and penthouses of between 6,372 and 8,385 sq ft. Investing in the development may prove to be a successful venture, thanks to its close proximity to Orchard Road.

If you’re considering purchasing a property, you can check out the latest listings for Kovan Residences, The Sail @ Marina Bay, and Holland Drive Condo.