Seller of four-bedder at Equatorial Apartments rakes in $3.4 mil profit

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Located on Meyer Road in District 15, Equatorial Apartments is a freehold boutique condo built in 1981 with a total of 61 units housed in a 16-storey block. It was the setting for the most profitable condo resale transaction during the week of Aug 1 to 8, according to caveats lodged with URA.

A 2,497 sq ft apartment had been purchased by the seller in October 2003 for $1.14 million ($456 psf) and was sold for an impressive $4.55 million ($1,822 psf) on Aug 3. This equates to a capital gain of 300% over a holding period of nearly 20 years, and a whopping profit of $3.41 million. It also marks a new psf-price high for the development, surpassing the previous high of $1,782 psf logged in February.

This was the most profitable transaction recorded to date at Equatorial Apartments, beating the previous record established in May 2007, when a 5,382 sq ft penthouse was sold at $5.1 million ($948 psf).

Moving onto Teresa Ville, the second most profitable transaction during the same week was registered there. A 1,981 sq ft unit was sold for $3.15 million ($1,590 psf) on Aug 8 after being purchased in June 1998 for $1.005 million ($507 psf), leading to a gain of $2.155 million (213%) after holding the unit for just under 25 years.

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This was the second most profitable transaction recorded at the development to date. Earlier this year, a 1,981 sq ft three-bedroom apartment reached $3.28 million ($1,656 psf) on March 20, earning the seller a capital gain of $2.32 million or 242%. Teresa Ville is a 264-unit freehold development located along Lower Delta Road in District 4.

Conversely, the most unprofitable transaction during the same week occurred at Orchard Scotts. There, the seller of a 2,282 sq ft four-bedroom-plus-study apartment made a loss of about $826,700 when the unit was sold for $3.78 million ($1,656 psf) on Aug 7. It had been purchased in March 2010 for $4.61 million ($2,019 psf).

This marks the second unit at Orchard Scotts to change hands this year with a loss, prior to this another 2,099 sq ft unit was sold for $3.85 million ($1,834 psf) on May 30 after being bought in August 2012 for $4.1 million ($1,953 psf). Orchard Scotts is a 99-year leasehold development on Anthony Road, off Clemenceau Avenue North in prime District 9.

The sale of a four-bedroom unit at Equatorial Apartments was the most profitable condo resale transaction during the week of Aug 1 to 8, based on caveats lodged with URA. Regulatory data also pointed to the second-most profitable transaction at Teresa Ville and the most unprofitable sale at Orchard Scotts.

Comparing yields on property investment, the most profitable transaction at Equatorial Apartments saw a capital gain of 300%, while the second-most profitable transaction at Teresa Ville was far more modest at 213%. Similarly, the most unprofitable transaction occurring at Orchard Scotts was far more severe at 18%.

Check out the latest listings for Equatorial Apartments, Teresa Ville, and Orchard Scotts properties on EdgeProp.sg today for a comprehensive understanding of the market.