SINGAPORE (Mar 19): The sale of a four-bedroom unit at the Glentrees condominium in District 10 was the most profitable transaction in the week of Feb 27 to March 6. The 3,412 sq ft unit was sold on March 1 for $3.9 million ($1,143 psf). The unit was initially bought for $1.59 million ($466 psf) in 2005. The seller realised a $2.31 million (145%) profit on the sale of the property, which translates into an annual profit of 7% over a holding period of 12.7 years.

It is the most profitable transaction recorded at the condo in six years. In 2012, a 3,132 sq ft four-bedder was sold for a $2.31 million (151%) profit. Profits at Glentrees have ranged from $150,000 to $2.31 million across 13 transactions in the past three years.

The 999-year leasehold Glentrees is located on Mount Sinai Lane between Henry Park Primary School and Eunoia Junior College. The 176- unit condo comprises eight five- storey blocks. The unit mix includes 42 two- and three- storey ground floor units and 42 loft units with roof gardens. Units range from 1,346 to 3,671 sq ft. The condo was developed by CapitaLand and completed in 2005.

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