News > $4 million in profit at The Sovereign and 150% gain at The Calrose Condos

$4 million in profit at The Sovereign and 150% gain at The Calrose Condos

2 July 2024

In the third week of June 2024, a 4-bedroom unit at The Sovereign condo in Marine Parade set a new record with a $4 million gain after being held for 172 months. This 3,305 sqft unit, located on a middle floor, sold for an impressive $8.6 million, translating to $2,602 per square foot (PSF). This sale marks the highest profit ever recorded within The Sovereign condo, surpassing the previous record held by another 4-bedroom unit, which was sold for $7 million in March 2012 and recorded a $3.86 million gain (122%) after 91 months.

Additionally, this transaction is notable for being the first unit at The Sovereign condo to exceed the $8 million and $2,600 PSF mark, setting a new high for the price quantum and price per square foot within this project after 12 years.

The Sovereign is a freehold condo located in District 15 (D15) Marine Parade. Completed in 1993, it comprises 87 units, all of which are 4-bedroom units. Over the past 3 years, units at The Sovereign have transacted at an average of $2,383 PSF. The condo is ideally situated within a 10-minute walk from both Tanjong Katong and Katong Park MRT stations and is surrounded by eight schools within a 2-km radius, including Dunman High School and Haig Girls’ School.

Another noteworthy transaction took place at The Calrose condo in Ang Mo Kio. A 3-bedroom unit at The Calrose condo recorded a remarkable 150% gain, amounting to $1.46 million after being held for 192 months, equating to an annual gain of 10%. The 1,238 sqft unit, located on a low floor, was sold for $2.43 million ($1,961 PSF). This is the third most profitable transaction within The Calrose condo in terms of total capital gain, following a lower floor unit that gained $1.48 million (219%) after 224 months in April 2024.

Furthermore, this sale set a new record for the highest PSF transacted within The Calrose condo, surpassing the previous high of $1,891 PSF achieved by another unit in April 2024.

The Calrose is a freehold condo in District 26 (D26) Ang Mo Kio, completed in 2007, consisting of 6 blocks and 421 units ranging from 2 to 4 bedrooms. Over the past 3 years, The Calrose units have transacted at an average of $1,569 - $1,712 PSF. The condo is conveniently located within a 5-minute walk from Lentor MRT station and an 11-minute walk from Yio Chu Kang MRT station, with 14 schools within a 2-km radius, including Anderson Primary School and Presbyterian High School.

*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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$4 million in profit at The Sovereign and 150% gain at The Calrose Condos

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