SINGAPORE (EDGEPROP) - The most profitable transaction recorded during the fortnight from Oct 11 to 25 was for a four-bedroom apartment at Manhattan Mansions. The seller reaped a profit of $2.28 million on the 2,228 sq ft, second-floor apartment when it was sold for $3.88 million ($1,741 psf) on Oct 12. The apartment had been purchased for $1.6 million ($698 psf) in July 2001. This means the seller made a 4.2% gain annually over more than two decades.
Manhattan Mansions is a 29-unit, freehold apartment complex along Grange Road, in River Valley District 10. Developed by Ban Hin Leong Group, the 10-storey apartment block was completed in 1994.
The seller reaped a profit of $2.28 million on the 2,228 sq ft apartment at Manhattan Mansions (Samuel Isaac Chua/ The Edge Singapore)
The development is located just off Grange Road and Paterson Hill. It is within 500m of the upcoming Orchard MRT Interchange Station for the Thomson-East Coast Line and North-South Line.
The second most profitable transaction for the period was for a four-bedder at The Hacienda, which was sold for $5.4 million ($1,672 psf) on Oct 13. The seller purchased the 3,229 sq ft unit on the ground floor for $3.18 million ($985 psf) in June 2008. Hence, the seller made a gross capital gain of $2.22 million over a 14-year holding period. The 3,229 sq ft unit is one of the three largest at The Hacienda and has changed hands five times over the past 27 years.
A 3,229 sq ft, four-bedroom unit at The Hacienda changed hands for $5.4 million ($1,672 psf) on Oct 13 (Google Maps)
The Hacienda is a freehold, four-storey condominium located on Hacienda Grove, off Upper East Coast Road in prime District 15. Developed by AssoBuild Realty, the 109-unit The Hacienda was built in 1986.
Read also: Five-bedroom unit at The Sea View reaps $2.48 mil profit
The most unprofitable transaction for the fortnight occurred at Reflections at Keppel Bay. It was for a 3,283 sq ft, four-bedroom unit on the third floor that changed hands for $7.22 million ($2,199 psf) on Oct 14, according to a caveat lodged. The unit was purchased for $8.4 million ($2,558 psf) in August 2007 from the developer, Keppel Land. Hence, the seller recorded a loss of $1.18 million on the sale, or a 14% loss over a 15-year period.
The 1,129-unit, 99-year leasehold Reflections at Keppel Bay is a luxury landmark condominium at Keppel Bay. Designed by acclaimed architect Daniel Libeskind, Reflections at Keppel Bay was completed in 2011. It has six high-rise residential towers of 24 to 41 storeys; and 11 fan-shaped, six-storey villa blocks fronting the sea.
A 3,283 sq ft, four-bedroom unit at Reflections on Keppel Bay was sold for $7.22 million ($2,199 psf) on Oct 14 (Samuel Isaac Chua/ The Edge Singapore)
The latest transaction at Reflections at Keppel Bay is for a 7,542 sq ft duplex, five-bedroom penthouse on the 23rd floor of one of the high-rise towers. The penthouse fetched $12.5 million ($1,661 psf), according to a caveat lodged.
The second most unprofitable transaction took place at the 251-unit, 36-storey Spottiswoode 18. The freehold apartment block, developed by Roxy-Pacific Holdings, was completed in 2014.
An 893 sq ft, one-bedroom penthouse on the 35th floor changed hands for $1.28 million ($1,433 psf) on Oct 19. The penthouse at Spottiswoode 18 was purchased for $1.65 million ($1,844 psf) in June 2012. Hence, the seller made a loss of 22.3%.
An 893 sq ft, one-bedroom penthouse on the 35th floor of Spottiswoode 18 changed hands for $1.28 million ($1,433 psf) on Oct 19 (Samuel Isaac Chua/ The Edge Singapore)
Check out the latest listings near Manhattan Mansions, Reflections at Keppel Bay, The Hacienda, Spottiswoode 18, Orchard MRT Interchange Station