Three-bedder at The Park Vale in Bukit Timah sold at $2.4 mil profit

We’re excited to reveal the remarkable success story of a three-bedroom unit at The Park Vale, showcasing the incredible profit potential of this upscale development.

Record-Breaking Resale: During the week of September 12 to 19, an impressive transaction took place at The Park Vale. A spacious 2,034 sq ft three-bedroom unit, originally purchased for $1.13 million ($555 psf) in July 2006, was successfully sold for $3.5 million ($1,720 psf) on September 12, 2023. This remarkable sale resulted in a staggering profit of $2.37 million (210%), equating to an annualized gain of 6.8% over a span of 17 years.

Setting New Standards: This transaction not only stands out as the most profitable resale within The Park Vale but also sets a new benchmark for property success. The previous record, dating back to 2013, featured a 1,927 sq ft three-bedroom unit that changed hands for $2.35 million ($1,218 psf). In that instance, the seller enjoyed a profit of $1.27 million (118%), translating to an annualized gain of 11% over seven years.

Prime Location: The Park Vale, comprising 40 units, enjoys a coveted location at 4B Park Vale, just off Shelford Road in Bukit Timah. Surrounded by landed neighborhoods along Watten Estate Road, Hillcrest Road, Vanda Avenue, and prestigious Good Class Bungalow areas like Raffles Park and Eng Neo Avenue, this development offers an enviable setting. Additionally, esteemed educational institutions, including Raffles Girls’ Primary School, Nanyang Girls’ High School, Hwa Chong Institution, and National Junior College, are in close proximity.

Rare Resale Opportunities: Resale transactions at The Park Vale are infrequent, making each opportunity a noteworthy event. This year, only one other resale transaction was recorded—an impressive 1,119 sq ft three-bedroom unit that was sold for $2 million ($1,787 psf) on March 24. Previously, this unit had fetched approximately $929,900 ($831 psf) in April 1996. The seller reaped a profit of $1.07 million (115%), translating to an annualized gain of 2.8% over nearly 27 years.

Rising Resale Values: Over the past few decades, resale values at The Park Vale have witnessed a substantial increase. Historical data from EdgeProp Singapore reveals that the average resale price was $754 psf in September 2003, which climbed to $1,116 psf by September 2013, and most recently surged to $1,787 psf this month.