Geylang condo: 4-bedroom Costa Rhu apartment just sold for a profit of $2.14 mil.
Among the recently sold Geylang condo, a 4-bedroom condo at Costa Rhu in District 15 was sold for $3.15 million (US$1,421/psf) on April 14, giving The most profitable seller for the week of April 13-20. A 2,217 sq ft apartment on the third floor was purchased. in September 1998 for $1.01 million ($458 psf). Sellers made a 210% profit of $2.14 million, calculated annually at 5.1% over 22 and a half years.
Costa Rhu Condo is a 99-year leased development by Amcol Gardens. It was completed in 1998 and consists of 737 apartments spread across four 17-story buildings. This riverside project is within a few minutes' walk of the upcoming Tanjong Rhu MRT station (on the Thomson-East Coast Line). The sale of this condo is the second most profitable transaction at the development. The most profitable sale was a 4,209 sqft unit, it sold in February 2018 for $5.45 million ($1,295 psf). It was previously purchased for $2.3 million ($546 psf) in March 2005. The seller made $3.15 million in profit, reaching 6.9% over 13 years.
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4bedroom unit at Costa Rhu was sold for $3.15 million ($1,421 psf) on April 14, 2021. Source: Internet.
The second highest increase was The Wharf Residence, where a 4,639 sq ft 4-bedroom apartment sold for $7.82 million (1,685 psf) on April 14. It was purchased in November of this year. 2010 for $5.92 million ($1,277 psf). The seller made a 32% profit of $1.89 million, which translates to an annual return of 2.7% over 10 and a half years.
A sought-after Geylang condo, The Wharf Residence is a 999-year leasehold consisting of 186 apartments in a 23-storey building. Developed by CapitaLand, the project is just a 9-minute walk from Fort Canning MRT on the Central Line. It's also close to the Robertson Walk shopping center, as well as the cafes, bars and restaurants at Robertson Quay. Selling the 2nd most profitable 4-bedroom apartment in the project. The most profitable transaction was for a 4,618 sq ft unit purchased in February 2010 for $5.17 million ($1,120 psf) and sold in January 2013 for $8 million ($1,732 psf). As a result, the seller made a profit of $2.83 million, calculated at 16.1% annualized over three years.
A recent Geylang apartment sale deal is a 4,639 square meter 4-bedroom condo at The Wharf Residence that sold for $7.82 million (1,685 psf) on April 14. Source: Internet.
Top 15 gains from April 13 to 20, a series of Geylang condo appeared in list. Source: Internet.
Next on the list of latest Geylang condo for sale, the third most profitable sale of the week was the sale of a 2,110 sq ft condo at Ocean Park in District 15. Three bedroom apartment on 12th floor for sale. on April 17 for $3.2 million ($1,517 psf), 25½ years after it. was purchased for $1.49 million ($708 psf) in September 1995. The 114% profit of $1.71 million is calculated annually at 3%.
This is the fifth most profitable deal in the project. The most profitable transaction in Ocean Park was the sale of a 3,897 sq ft condo in March 2011 for $4.3 million ($1,104 psf). When the seller purchased the device in May 2005 for $1.7 million ($434 psf) the profit was $2.6 million, calculated as 17.3% annualized for nearly six years. Completed in 1983, this apartment is a 30-story building with 304 units. It is surrounded by many interesting places, especially near many schools such as CHIJ Katong Convent, Tao Nan School, Ngee Ann Primary School and Victoria Junior College.
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