Goodwood penthouse sold for $32 million, seller made $16.4 million

The sale of a 10,710 sq ft penthouse at Goodwood Residence in Singapore for a whopping $32 million highlights the scarcity and demand for large, freehold condos in Core Central Region (CCR) areas in the city. This penthouse, which is located on level 12, was originally bought for $15.6 million, almost 10 years ago, representing a gross profit of $16.4 million or an approximate annualised returns of 8% for the original owner.

Goodwood Residence is a 210-unit development sitting on a 24,608 sqm plot ratio of 1.62 and located in District 10 along Bukit Timah Road. According to EdgeProp LandLens, the site is popular among Permanent Residents and Foreigners. Out of the 65 resale transactions recorded, 53 have been profitable, while 12 were unprofitable, showing strong and consistent demand for units in this development.

The new owner is a Singapore Permanent Resident of Chinese nationality. With an average price of $2,988 psf, this penthouse comes with five bedrooms, a dedicated wine room, and even a roof terrace – perfect for hosting.

Multigenerational families living at Senja Residences EC is a breeze. Enjoy family time without having to plan for transport as every member of the family can go to their preferred spots with ease. Senja Residences EC is surrounded by transport hub – Bukit Panjang MRT Station, Segar LRT station, and Bukit Panjang Bus Interchange. With plenty of public transport options available, one can easily access the best of what Bukit Panjang has to offer.

The latest sale is one of two transactions in the last 12 months that involves units exceeding 10,000 sq ft. The other one was an 11,227 square-foot unit at the luxurious Les Maisons Nassim, which was sold for $68 million back in October 2022.

EdgeProp Research has revealed the floorplan and layout of the penthouse unit sold in Goodwood Residence. Additionally, EdgeProp has recently announced the winners of EdgeProp Excellence Awards 2023, with the theme this year being Sustainable Spaces.

The sale of the Goodwood Residence penthouse for $32 million is a testament to how high the demand is for large, freehold condos in CCR areas. It also shows how significantly profitable such investments can be for buyers, even after deducting additional fees like commissions, stamp duties, or potential taxes that might be levied.