3-bedroom unit at Hawaii Tower recorded $3 million in profit

On August 13, 2024, a 3-bedroom unit at Hawaii Tower Condo recorded a significant gain of $2.98 million after being held for 234 months, translating to a 14% annual capital gain. The unit, located on the 9th floor and spanning 2,239 sqft, was sold for $4.11 million ($1,836 PSF). This transaction marks the second-highest gain ever recorded at Hawaii Tower Condo, just behind a sale in January 2024, where another 3-bedroom unit posted a gain of $3.23 million. 

Hawaii Tower is a freehold condo completed in 1988, with approximately 63 years of lease remaining. Located in District 15, the development consists of 135 units, offering mainly 3- and 4-bedroom layouts. Over the past three years, units have transacted at an average of $1,735 PSF. The project enjoys a prime location, being just a 5-minute walk from Katong Park MRT station and a 10-minute walk to Tanjong Katong MRT station. It is also close to renowned educational institutions such as Kong Hwa School and Dunman High School. 

Image: Hawaii Tower Condo on Map View. Source: RealInsight  

On the other hand, the largest loss of the week occurred at Seascape Condo, where a 4-bedroom unit on the 6th floor recorded a loss of $2.53 million after being held for 166 months, translating to a 3% annual loss. The unit, which spans 2,680 sqft, was sold for $4.5 million ($1,679 PSF). This sale marks the third-largest loss in the project over the past three years, trailing behind 2 other 4-bedroom units on the 8th floor—one of which recorded a $4 million loss in August 2022, and another with a $3.7 million loss in October 2022. 

Seascape is a freehold condo situated in District 04 and was completed in 2011. The project comprises 151 units, offering 3- to 5-bedroom units. Over the past three years, units have transacted at an average of $1,672 to $2,218 PSF. Located along Cove Way, Seascape offers residents convenient access to the scenic Sentosa Island, renowned for its upscale dining, entertainment, and marina facilities, making it a highly desirable, albeit volatile, investment location.  

Image: Seascape Condo on Map View. Source: RealInsight  

*Data is accurate as of the published date of this article.

*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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