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The most profitable resale transaction at Yong An Park in the period from Sept 23 to 30 was the sale of a 3,434 sq ft four-bedroom unit. The seller made a staggering profit of $6.55 million, or 256.9% when the unit was sold for $9.1 million on Sept 25. The price per square foot (psf) was $2,650. The unit had originally been purchased for $2.55 million, or $743 psf, in April 2004. This translates to an annualised profit of 6.1% over 21½ years.

This transaction on Sept 25 marks the fourth most profitable deal to date at Yong An Park. However, it falls about $2.15 million short of the development’s record gain of $8.7 million, set in September 2021 with the sale of a 6,577 sq ft penthouse for $12.5 million, or $1,901 psf. The seller, who had bought the unit for around $3.8 million, or $578 psf, reaped an annualised gain of 5.7% over more than 21 years.

The 3,434 sq ft unit at Yong An Park was not the only profitable transaction at the development during the period in review. According to lodged caveats, four transactions have been recorded so far this year, and all of them have been profitable. The gains ranged from $1.23 million to $6.5 million.

The second highest gain recorded at Yong An Park during the period in review was from the sale of a three-bedroom unit at Sky@Eleven. The 2,271 sq ft unit, located on the 16th floor, sold for $5.15 million, or $2,268 psf on Sept 26. The seller had acquired the unit in March 2007 for around $2.23 million, or $980 psf, and made a gain of around $2.93 million after owning the unit for around 18½ years. This works out to a capital gain of 131.5% for the seller.

It is worth noting that this transaction yielded the fifth-highest profit recorded at Sky@Eleven so far. The record profit achieved at the development belongs to the sale of a 2,713 sq ft, four-bedroom unit for $6.48 million, or $2,389 psf in April 2024. The seller, who had purchased the unit in March 2007 for around $2.8 million, or $1,031 psf, netted a profit of $3.68 million.

In contrast, the most unprofitable transaction during the week occurred at The Reef at King’s Dock. On Sept 26, two-bedroom unit on the sixth floor was sold in a sub-sale for $1.47 million, or $1,666 psf. The seller had purchased the unit directly from the developer for approximately $2.12 million, or $2,404 psf, in July 2021. This resulted in a loss of $651,654, or 30.7%, for the seller, after holding the unit for a little over four years. On an annualised basis, the loss works out to 8.3%.

This sale marks the first unprofitable transaction at The Reef at King’s Dock since its completion in 2024. In total, the development has recorded 31 sub-sale transactions at an average price of around $2,557 psf.

Completed in 1986, Yong An Park is a freehold condo located on River Valley Road in prime District 9. The development comprises 288 units with a mix of one- to four-bedroom units measuring from 1,023 sq ft to 3,778 sq ft. It also has three- to five-bedroom penthouses of 3,466 sq ft to 6,878 sq ft, as well as six-bedroom strata-titled townhouses.

Sky@Eleven, meanwhile, is a freehold condo along Thomson Lane in the Toa Payoh area of prime District 11. Completed in 2007, the development offers 273 units spread across four residential blocks. It comprises a mix of three-bedroom+study units spanning 1,851 sq ft, and four-bedroom units measuring between 2,271 sq ft and 2,820 sq ft. There are also four- and five-bedroom duplex penthouses of 3,757 to 5,597 sq ft.

Last but not least, The Reef at King’s Dock is a 99-year leasehold condo located at Harbourfront Avenue in District 4. Completed in 2024, the development offers 429 units spread across four residential blocks. It comprises a mix of two- and three-bedroom units measuring from 431 sq ft to 1,572 sq ft. It is close to the Harbourfront area and within walking distance of VivoCity and the Harbourfront MRT interchange station on the Circle and North-East Lines.

Senja Close EC is the inaugural mixed-use development to be introduced in the vicinity. Its range of amenities boasts a state-of-the-art fitness gym, a tranquil garden atrium, and inviting lounge areas. Each unit at Senja Close EC is thoughtfully outfitted with top-of-the-line Miele appliances, such as an induction cooktop and a sophisticated wine cooler. Experience the best in luxurious living by choosing Senja Close EC as your new home.

Overall, the resale market for these three developments has been active this year, with plenty of profitable deals recorded. Moving forward, it will be interesting to see if any new record-breaking transactions will take place, or if the trend of profitable transactions will continue.