SINGAPORE (EDGEPROP) - The seller of a unit at The Tessarina, along Wilby Road, made the top gain of $1.32 million over the week of Nov 3 to 10. The 1,313 sq ft unit on the third floor was bought for $965,000 ($735 psf) in December 2005 and sold for $2.28 million ($1,736 psf) on Nov 5. The seller therefore made a 136% profit, or an annualised profit of 6% over almost 15 years.
Located in District 10, The Tessarina was completed in 2003. The freehold development comprises 443 units and is an 11-minute walk to King Albert Park MRT Station on the Downtown line.
The seller of a unit at The Tessarina made a 136% profit (Credit: The Edge Singapore/ File photo)
The second top gain made over the week — a 155% profit of $1.05 million — was at Meraprime, located along Jalan Bukit Ho Swee in District 3. The 1,119 sq ft unit on the 23rd floor was purchased for $679,000 ($607 psf) in July 2005 and sold for $1.73 million ($1,545 psf) on Nov 9. This means that the seller made an annualised profit of 6% over 15 years.
Meraprime comprises 213 units on a 99-year leasehold. It was completed in 2006 and is a four-minute walk to Tiong Bahru MRT Station on the East-West Line.
A unit sold at The Blossomvale, located along Dunearn Road in District 21, made the third largest gain over the week, netting a 97% profit of $1.02 million. The 1,367 sq ft unit on the second floor was purchased in June 2000 for $1.05 million ($768 psf), and sold for $2.07 million ($1,513 psf) on Nov 4. The seller therefore made an annualised profit of 3% over 20 years.
The Blossomvale comprises 220 units on a 999-year leasehold. Completed in 1998, it is a three-minute walk from King Albert Park MRT Station on the Downtown Line.
The second top gain made over the week – a 155% profit of $1.05 million – was at Meraprime (Credit: The Edge Singapore)
On the flip side, the top loss during the week in review was incurred by the resale of a 3,348 sq ft unit at Setia Residences in District 11. Bought in September 2010 for $6.94 million ($2,073 psf), it changed hands for $6.1 million ($1,822 psf) on Nov 9. The unit incurred a 12% loss of $838,000, or an annualised loss of 1% over a holding period of a decade.
Setia Residences, located along Evelyn Road, comprises 24 freehold units. Completed in 2003, it is an eight-minute walk to Newton MRT Interchange Station on the North-South and Downtown Lines.
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