The week of August 27 to September 3 saw a profitable condo resale transaction at The Draycott, with a unit on the 15th floor selling for $5.45 million ($2,067 psf) on August 30. The 2,637 sq ft unit was originally purchased in April 1996 for $3 million ($1,138 psf), resulting in a gain of $2.45 million for the seller. This reflects a capital gain of 82% for the seller, who had owned the unit for almost 28 and a half years.
The sale of this unit ties with another unit as the fourth-highest gain ever registered at The Draycott. In May 2021, a 2,626 sq ft maisonette unit sold for $4.5 million ($1,713 psf), also netting a profit of $2.45 million for the seller. The unit was originally purchased for $2.05 million ($781 psf) in June 1999.
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The highest-profit transaction recorded at The Draycott took place in May 2007, when a 2,637 sq ft unit sold for $5.45 million ($2,067 psf). The seller had purchased the unit in March 1998 for $2.1 million ($796 psf), resulting in a gain of $3.35 million.
The second most profitable condo resale transaction during the week was the sale of a three-bedroom unit at Pebble Bay. The 1,894 sq ft unit on the 13th floor sold for $3.59 million ($1,894 psf) on August 30. The seller had purchased the unit in December 2002 for $1.16 million ($612 psf), making a profit of $2.43 million after holding the unit for almost 22 years.
This marks the third-largest gain made on a resale unit at Pebble Bay this year. The condo has seen a total of 18 units change hands in 2021, with 15 of these transactions resulting in a profit. The biggest profit was recorded on May 9, when a 1,894 sq ft unit sold for $3.67 million ($1,940 psf). The seller, who had purchased the unit in September 2004 for $1.12 million ($591 psf), earned a gain of $2.55 million. Other units sold at Pebble Bay this year have resulted in gains ranging from $620,000 to $2.48 million.
In contrast, the most unprofitable resale deal during this week was the sale of a 474 sq ft unit on the 21st floor of 6 Derbyshire. It sold for $989,000 ($2,086 psf) on August 27, resulting in a loss of $201,000 (approximately 17%) for the seller. The unit was originally purchased for $1.19 million ($2,510 psf) in August 2017. This is the fifth most unprofitable transaction ever recorded at 6 Derbyshire, coming just over a month after a 527 sq ft unit on the 28th floor sold for $1.07 million ($2,029 psf) on July 12. The seller, who had bought the unit for $1.44 million ($2,740 psf), incurred a loss of $375,000 — the largest loss recorded at 6 Derbyshire so far.
6 Derbyshire, located on Derbyshire Road in District 11, is a freehold condo completed in 2017. Consisting of a single 30-storey tower, the development has 168 units ranging from one-bedders of 474 sq ft to 527 sq ft, two-bedders of 732 sq ft to 829 sq ft, and three-bedders of 1,012 sq ft to 1,130 sq ft. There is also a duplex penthouse of 3,445 sq ft.