Selling an apartment at Regency Park proved to be the most lucrative resale deal for the week of Aug. 13 to 20. On Aug. 14, a 3,649 square foot fourth story apartment sold for $7.84 million ($2,149 psf). Having paid $2.95 million ($808 psf) for the apartment in February 2001, the seller generated a profit of $4.89 million, or 166% capital gain during 23½ years of ownership. After a 6,415 square foot penthouse sold for $14.11 million in August 2022 garnering the seller a $8.61 million (156%), this deal ranks second most profitable sales ever at Regency Park.
Found along Nathan Road in desirable District 10, Regency Park is a freehold condominium Finished in 1987, it comprises eight 25-story buildings with 292 apartments, three-bedroom from 2,250 square feet and four-bedroom from 3,649 square feet. The ideal location of the development close to the Bishopsgate-Chatsworth Good Class Bungalow area and its proximity to Great World City retail mall and Orchard Road help to explain its appeal.
The sale of a 1,550 square foot, four-bedroom apartment in Haig Court brought second biggest gain throughout the week. After almost 20 years of ownership, the sixth-floor apartment sold for $3 million ($1,935 psf) on Aug 14 and brought a $2.06 million (219%) profit for the seller. With the maximum gain from the sale of a 4,037 square foot apartment in November 2007 at $2.93 million, this sale ranks as the fifth most successful resale deal in Haig Court.
Built in 2004, Haig Court—a freehold condominium in District 15—has 360 units spread over four blocks. From two-bedroom homes with 1,076 square feet to penthouses with up to 4,349 square feet, it provides a spectrum of unit sizes.
By comparison, Seascape in Sentosa Cove had the least profitable condo resale deal throughout the week. On Aug 14, a 2,680 sq ft, four-bedroom apartment on the sixth floor sold for $4.5 million ($1,679 psf), leaving a loss of $2.53 million (36%), for the seller who had bought it from the developer in October 2010 for $7.03 million. Comprising 151 units spread across two eight-story buildings with a mix of three- and four-bedroom condos, penthouses, and villas, Seascape is a 99-year leasehold condo finished in 2011. Two other resale deals have thus far this year; one resulted in a loss and another lacked earlier caveat information.
