News > $1.74M in profit and $1,751 PSF, new high at Kovan Melody set by a 4 bedder| 2-9/4 Weekly Property Market Updates
$1.74M in profit and $1,751 PSF, new high at Kovan Melody set by a 4 bedder| 2-9/4 Weekly Property Market Updates
16 April 2024
On April 2nd, a 4-bedroom unit situated on top floor at Kovan Melody recorded $1.74 million in profit after being held for 236 months. The transacted price was $2.47 million for an area of 1,410 sqft, which translates to $1,751 PSF – setting new high for transacted PSF for this development. This is the most profitable transaction of all time within this project, surpassing a transaction in September 2022 of a 3-bedder on the same floor, which saw a gain of $1.11 million after being held for 205 months.
Kovan Melody is a 99-year condo in D19. Completed in 2006, it has a total of 13 blocks and 778 units, ranging from 2-4 bedrooms, 67% of which is 3-bedroom units. Average transacted PSF ranges from $1,333 - $1,529 in the past 3 years. The condo is conveniently located approximately 200 metres away from Kovan MRT station, Cold Storage and NTUC FairPrice. Within 2-km radius, there are 17 schools including Xinghua Primary School, Yuying Secondary School, etc.
Following is another 3 bedder positioned on low floor at Rich Mansions, which achieved a total gain of $1.62 million over a holding period spanning 182 months. This transaction became the second most profitable transaction ever recorded within the project, ranking below a 5-bedroom on high floor – which recorded a gain of $1.7 million in Sep 2019.
Rich Mansions is a freehold condo in D10 Tanglin. Completed in 1994, it has a total of 37 units, ranging from 3-5 bedrooms, transacted at an average of $1,824 PSF in the past 3 years. The condo is conveniently located approximately 500 metres away from Newton MRT station, and is surrounded by 16 schools within a 2-km radius, including Anglo-Chinese School, Singapore Chinese Girls’ School, etc.
*Disclaimer: Our real-time database is updated every time a transaction is submitted by an agency. While we strive to maintain the accuracy and completeness of the data, please note that transactions may not always be completed, and information provided may be subject to change or error.
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