The recent resale of a four-bedroom unit at The Sovereign has emerged as the most profitable transaction to date for the development. The 2,637 sq ft unit, located on the ninth floor, sold for $6.2 million on September 10, resulting in a profit of $2.7 million for the seller. This translates to a capital gain of 77%, as the unit was originally purchased in May 2016 for $3.5 million. This marks the second resale deal at The Sovereign this year, following the $8.6 million sale of a 3,305 sq ft unit in June. This unit, located on the 15th floor, fetched a profit of $4 million for the seller, making it the most profitable transaction in the development’s history.The Sovereign, located on Meyer Road in District 15, was built in 1993 and comprises a single residential tower with 87 units. The freehold development offers four-bedroom units ranging from 2,637 sq ft to 3,305 sq ft. It is conveniently situated within walking distance of Tanjong Katong MRT Station on the Thomson-East Coast Line.In the same week, Maple Woods also saw a highly profitable resale transaction. A four-bedroom unit, measuring 3,003 sq ft and located on the eighth floor, was sold for $5 million, resulting in a gain of $2.6 million for the seller. The unit was originally purchased from the developer in September 1998 for around $2.4 million, making this a 109% return on investment after 26 years. This marks the third most profitable transaction in the development, with another unit on the second floor selling for $3.82 million on the same day. The seller of this unit, who had purchased it in March 2007 for $1.35 million, earned a profit of $2.47 million, making it the fourth most profitable resale deal at Maple Woods.Maple Woods is a freehold condo located on Bukit Timah Road in prime District 10. Built in 1997, it offers 697 units consisting of two- to four-bedroom apartments ranging from 850 sq ft to 3,003 sq ft. The development is located a five-minute walk from King Albert Park MRT Station on the Downtown Line, as well as close to Methodist Girls’ School and the Rail Corridor.On the other end of the spectrum, The Orchard Residences saw the most unprofitable transaction during the week. A four-bedroom unit measuring 2,852 sq ft was sold for $10.25 million, resulting in a loss of $1.75 million for the seller. The unit, which was purchased from the developer in May 2010 for $12 million, represents a 15% loss after 14 years.This is the sixth largest loss incurred at The Orchard Residences, with the record being held by a 2,852 sq ft unit that sold for $9.68 million in July 2020. The seller of this unit, who had purchased it from the developer in October 2007 for just under $13 million, incurred a $3.32 million loss on the sale.The Orchard Residences is a 175-unit luxury condo located on Orchard Road. It is the residential component of Ion Orchard, and is directly linked to Orchard MRT Interchange Station. Completed in 2010, it offers three- to four-bedroom units ranging from 1,808 sq ft to 2,852 sq ft. Two units have been sold so far this year, with one seller making a profit of around $839,000 and the other incurring a loss of around $911,000.
