Boulevard 88 unit tops Q4 resale gains; seller reaps S$3.5m profit after 3 years

A 2,799 square foot (sq ft) unit at Boulevard 88 along Orchard Boulevard was sold for S$13.78 million or S$4,924 per square foot (psf) last month, earning the seller a cool S$3.46 million in profit – making it the most profitable transaction by quantum in the fourth quarter of 2022. 

The 22nd floor unit at the freehold luxury condo in prime District 10 was bought for S$10.32 million or S$3,688 psf back in July 2019. Based on a holding period of just under three and a half years, the annualised profit works out to 9 per cent. 

This nugget came from data crunched for The Business Times by real estate consultancy Cushman & Wakefield, which studied caveats for non-landed private homes with a prior purchase history between January 2012 and December 2022, and transacted in Q4 2022. Cushman then ranked these caveats into the top five profit- and loss-making deals, both by percentage and by quantum. The analysis excluded the transaction costs and taxes, such as buyer stamp duty and seller stamp duty.