The most profitable transaction in the week of June 12 to 19 was the sale of a four-bedroom unit at The Claymore in prime District 9. The 3,348 sq ft unit on the 14th floor fetched $8.8 million ($2,629 psf) when it was sold on June 14. The seller had bought the unit for $5.37 million ($1,604 psf) in 1995. The seller walked away with a $3.43 million (64%) profit, or an annualised profit of 2.2% over a 22-year holding period. The sale was the third transaction in the freehold condominium so far this year.
This year, the most profitable transaction at The Claymore was the sale of a four-bedroom unit, also 3,348 sq ft, in May. The seller made a profit of $4.7 million (115%). The 22nd-floor unit was bought for $4.1 million (1,225 psf) in 2004 and changed hands for $8.8 million ($2,629 psf) on May 3. This translates into an annualised profit of 5.5% over a 14-year holding period. The Claymore, on Claymore Road, is a 146-unit condo that was completed in 1985.
The Claymore, on Claymore Road, is a 146-unit freehold condominium that was completed in 1985 (Picture: The Edge Singapore)
The second-most-profitable transaction for the week was a three-bedroom unit at 72 Grange, a freehold condo on Grange Road in prime District 10. The 4,306 sq ft unit on the fourth floor changed hands for $7.45 million ($1,730 psf) on June 13. The seller had bought it for $4.3 million ($999 psf) in a sub-sale in 1996. The seller thus made a profit of $3.15 million (73%), which translates into a 2.5% annualised profit over 22 years.
This makes it two transactions at 72 Grange so far this year. The other transaction, also profitable, was for a 3,853 sq ft, two-bedroom unit, which fetched $7.3 million ($1,894 psf) when it was sold on April 12. The seventh-floor unit had been bought for $4.3 million ($1,116 psf) in 2006. Thus, its previous owner walked away with a $3 million (70%) profit, or an annualised profit of 4.7% over 11 years.
These two units at 72 Grange are the first to be sold since 2011. According to caveats lodged, no units changed hands between October 2011 and June this year. The most profitable sale at the development was in 2011, when a 3,627 sq ft two-bedder changed hands for $9.75 million ($2,688 psf). It had been purchased for $3.15 million ($868 psf) in 2005. The seller pocketed a $6.6 million (210%) profit, or an annualised profit of 20% over six years. The 18-unit condo was completed in 1995.
The sale of a 4,413 sq ft penthouse unit at Regency Suites was the third-most-profitable transaction in the week in review. The previous owner of the 35th floor unit had purchased it for $2.25 million ($510 psf) in 2006. He sold it for $5.10 million ($1,156 psf) on June 14, thus reaping a $2.85 million (127%) profit, or an annualised profit of 7% over 12 years. This was also the most profitable sale at the 104- unit condo, where profits have ranged from $29,320 to $2.85 million in the past 12 years.
The most unprofitable sale for the week in review was that of a three-bedroom unit at 8 Raja (Picture: Samuel Isaac Chua/The Edge Singapore)
The sale of a 2,024 sq ft unit at the freehold 8 Raja, located off Balestier Road, was the most unprofitable transaction in the week in review. The three-bedroom-plus-study unit fetched $2.68 million ($1,324 psf) when it was sold on June 13. It was purchased from the developer for $3 million ($1,482 psf) in 2013. Thus, the unit was sold at a $320,000 loss (-11%), or an annualised loss of -2.4% over four years. The 26-unit 8 Raja was completed in 2013.