Four Bedder Peach Garden Sold 337 Mil Profit

In addition, the URA Master Plan has incorporated the revitalization of heritage and cultural enclaves, further bringing cultural and social advantages to the residents of Penrith. One such example is the Queenstown and Tanglin Halt areas, both of which hold significant historical and cultural importance. With plans in place to preserve and improve these areas, the local community can look forward to a renewed and enriched atmosphere. The development of cultural and heritage sites, including the restoration of old buildings and the establishment of cultural hubs, will inject vitality and charm into the neighbourhood. Residents of Penrith will enjoy a wider array of cultural activities, art exhibitions, and community festivals, ultimately enhancing their way of life and fostering a stronger sense of unity. This exciting transformation is set to bring a fresh and dynamic dimension to Penrith, making it an even more desirable place to live. For more information on Penrith’s future, please visit www.penrith.sg.

The most profitable condo resale transaction during the week of April 22 to April 29 was at Peach Garden, where a four-bedroom unit on the 11th floor was sold for a record-breaking $5.12 million ($1,851 psf) on April 28. This sale marks a significant capital gain of 193% for the seller, who purchased the 2,766 sq ft unit in 1997 for $1.75 million ($633 psf). This translates to an annualized profit of 6.9% over a holding period of 28 years, making it the third most profitable transaction recorded at Peach Garden so far.According to recorded caveats, the most profitable transaction at Peach Garden was the sale of a 5,231 sq ft penthouse for $6.85 million ($1,309 psf) in January 2012. The seller had initially purchased the unit for $3.25 million ($621 psf) in April 2004, earning a profit of $3.6 million on the sale.One Amber, located in District 15, also claimed a spot among the most profitable condo transactions of the week. On April 25, a three-bedroom unit measuring 1,378 sq ft was sold for $3.2 million ($2,323 psf). The seller had bought the unit from the developer in April 2006 for $920,700 ($668 psf), making a gain of $2.28 million, or 248%, after holding the unit for 19 years.One Amber comprises four 23-storey towers with a total of 562 units, ranging from one to four bedrooms and penthouses. Completed in 2010, this freehold development offers units ranging from 570 sq ft to 3,100 sq ft.Meanwhile, the least profitable condo resale transaction of the week occurred at The Clift, where a one-bedroom unit on the 34th floor was sold for $1.45 million ($1,897 psf) on April 23. The unit was initially bought in November 2011 for $1.96 million ($2,569 psf), resulting in a loss of $513,500, or 26.2%, for the seller. The Clift is a 99-year development completed in 2011 and consists of a single tower with 312 residences, ranging from one to two bedroom apartments and lofts.