SINGAPORE (EDGEPROP) - The most profitable deal during the week of Jan 5 to 12 was the sale of a 1,830 sq ft three-bedroom unit at Sommerville Grandeur in District 10. Bought for $1.59 million ($869 psf) in February 1995 and sold on Jan 8 for $3.28 million ($1,792 psf), the second-storey unit made the seller a 106% profit of $1.69 million, or a 2.8% annualised profit over 26 years.
Sommerville Grandeur is a freehold condominium with 96 units spread across five floors. Located within a five-minute walk from Farrer Road MRT Station, it was completed in 1996 by Sommerville Properties. It has facilities such as a gym, sauna and playground.
The sale is the second most profitable deal at Sommerville Grandeur so far. The most profitable transaction at the development was the sale of a fourth-floor, three-bedroom unit. The seller made a profit of $1.72 million after selling the unit for $3.04 million ($1,660 psf) in October 2012, 13½ years after it was bought in February 1999 for $1.32 million ($721 psf).
The second-storey unit made the seller a 106% profit of $1.69 million, or a 2.8% annualised profit over 26 years (Photo: EdgeProp Singapore)
The second most profitable deal of the week was the sale of a 2,131 sq ft, three-bedroom unit at Dairy Farm Estate in District 23. Originally purchased in April 1995 for $1.07 million ($500 psf), the third-floor unit changed hands for $2.41 million ($1,131 psf) on Jan 12. The seller made a 126% profit of $1.35 million, which translates to an annualised profit of 3.2% over almost 26 years.
Dairy Farm Estate is a 477-unit condominium that was completed in 1989. Located near the junction of Dairy Farm Road and Upper Bukit Timah Road, it is a four-minute walk from Hillview MRT Station. There have been two collective sale attempts made for the development, first in 2007 and then in 2018, to no avail.
The third top gain of the week was achieved by the seller of a four-bedroom unit at Park Infinia at Wee Nam, a 486-unit freehold condominium near Newton MRT Station. The 1,464 sq ft unit on the sixth floor was originally bought in June 2009 for $1.83 million ($1,250 psf) and was sold on Jan 5 for $2.95 million ($2,015 psf). The seller therefore gained a 61% profit of $1.12 million, which is annualised at 4.2% over 11½ years.
Park Infinia at Wee Nam is on Lincoln Road in District 11. Developed by Keppel Land Realty, it was completed in 2008. The property is within 1km of top schools such as St Joseph Institution Junior, Anglo-Chinese School (Junior), and Anglo-Chinese School (Barker Road).
The sale is the most profitable deal at the development since last year, which saw six profitable transactions ranging from $190,000 to $933,248. The highest profit recorded at Park Infinia at Wee Nam was from the sale of a 3,240 sq ft, four-bedroom penthouse on the 29th floor, which earned the seller a profit of $2.71 million. The unit was purchased in August 2005 for $2.4 million ($741 psf) and sold in September 2017 for $5.1 million ($1,577 psf). The profit is annualised at 6.4% over 12 years.
Check out the latest listings near Sommerville Grandeur, Park Infinia at Wee Nam, Farrer Road MRT Station, Hillview MRT Station, Newton MRT Station, Anglo-Chinese School (Junior), Anglo-Chinese School (Barker Road)