SINGAPORE (EDGEPROP) - At Balmoral Plaza, the seller of a unit made the top gain of $1.82 million over the week of Aug 13 to 20. The 2,379 sq ft unit on the third floor was bought for $1.28 million ($538 psf) in October 1999 and sold for $3.1 million ($1,303 psf) on Aug 20. The seller made a 142% profit, or an annualised profit of 5% over almost 20 years.
The 2,379 sq ft unit at Balmoral Plaza was sold for $3.1 million on Aug 20, marking the biggest gain of the week (Credit: Samuel Isaac Chua/ EdgeProp Singapore)
Located on Bukit Timah Road in prime District 10, the freehold Balmoral Plaza was developed by Balmoral Plaza Pte Ltd, a joint venture between Lim Kah Ngam Ltd and Pacific Holdings. Completed in 1994, Balmoral Plaza is near prestigious schools such as Raffles Girls’ School and Anglo-Chinese School (Barker Road).
The second top gain made over the week – a 187% profit of $1.76 million – was at Botanic Gardens Mansion, off Napier Road in prime District 10. The 1,399 sq ft, ground-floor unit was purchased for $940,000 ($672 psf) in October 1999 and sold for $2.7 million ($1,930 psf) on Aug 14. This means the seller made an annualised profit of 5% over nearly 20 years.
The freehold Botanic Gardens Mansion is a three-minute walk from Napier MRT Station on the Thomson-East Coast Line and a six-minute drive from the Orchard Road shopping belt. Raffles Girls’ School is also a six-minute drive away.
At Cote D’Azur, the seller of a ground-floor unit made the third most profitable transaction of $1.26 million over the week. The 2,013 sq ft, four-bedroom unit was bought for $992,670 ($493 psf) in July 2002, and sold for $2.25 million ($1,118 psf) on Aug 16. The seller made a 127% profit, or an annualised profit of 5% over some 17 years.
Located in District 15, along Marine Parade Road, the 99-year leasehold Cote D’Azur was completed in 2004. Developed by Frasers Property, it comprises 612 units. Located next to the Parkway Parade shopping centre, the development is a three-minute walk from the upcoming Marine Parade MRT Station on the Thomson-East Coast Line.
On the other hand, the greatest loss incurred over the week was from the resale of a 2,896 sq ft unit at The Coast at Sentosa Cove. It is located on Ocean Drive, on Sentosa Island, in District 4. The seller sold the seventh-floor unit for $4.75 million ($1,640 psf) on Aug 14, sustaining a 22% loss of $1.33 million. The unit was purchased in November 2009 for $6.08 million ($2,100 psf). Over a holding period of almost 10 years, this translates into an annualised loss of 3%.
For price trends, recent transactions, other project info, check out these projects' research page: Balmoral Plaza, Botanic Gardens Mansion, Cote D'Azur, The Coast at Sentosa Cove
A 2,896 sq ft unit at The Coast at Sentosa Cove was sold for $4.75 million on Aug 14 and incurred the greatest loss of the week (Credit: Samuel Isaac Chua/ EdgeProp Singapore)
The 99-year leasehold The Coast at Sentosa Cove comprises 249 units, and is a five-minute drive to Quayside Isle, Sentosa Cove’s first waterfront retail and dining destination. Tanjong Golf Course is a seven-minute drive away, while Resorts World Sentosa is a 12-minute drive away. Developed by Ho Bee Land, The Coast at Sentosa Cove was completed in 2009.
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