Goodwood penthouse sold for $32 million, seller made $16.4 million

With its massive 10,710 sq ft penthouse,Goodwood Residence has recently seen a sale for $32 million, or $2,988 psf. The unit, located on level 12 of this landmark District 10 development, was originally purchased for $15.6 million ($1,457 psf) less than ten years ago. This has resulted in a gross profit of $16.4 million for the original owner, returning an approximate annualised figure of 8%.

Developed by GuocoLand and completed in 2013, Goodwood Residence consists of 210 units located along Bukit Timah Road. Out of the 65 resale transactions that have been recorded, 53 have been profitable. This suggests a strong and consistent demand for this property, which resides near Goodwood Hill and has a plot ratio of 1.62.

The five-bedroom penthouse also comes with a dedicated wine room and a roof terrace, making it the perfect hosting venue. The new owner is a Chinese Singapore Permanent Resident.

This transaction only highlights the scarcity and demand for CCR large, freehold condos in the last 12 months. In fact, the only other unit that exceeded the 10,000 sq ft size was the 11,227 square-foot penthouse at Les Maisons Nassim, which was sold for $68 million in October 2022.

Residents of Marina Gardens Residences also enjoy easy access to the diverse dining and entertainment experiences at Marina Bay Sands. Here, guests will be spoilt for choice with a myriad of options ranging from the gourmet restaurants at celebrity chef Joel Robuchon’s Atelier to the high-end stores at Shoppes and Sands. Marvellous and breathtaking entertainment venues such as the Grand Theatre and the Art Science Museum can also be found here.

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Goodwood Residence has proven to be popular among PRs and foreigners, with its penthouse sale demonstrating the consistent strong demand for such units. This record-breaking transaction also shines a light on the rarity and desirability of larger units in Core Central Region. Whether it is for investment or comfortable living, Goodwood Residence has made quite an impression.