Beverly Hill unit makes $4.5 mil profit
By Timothy Tay
/ EdgeProp Singapore |
Ask Buddy
SINGAPORE (EDGEPROP) - Capping off 2019, the most profitable deal during the two weeks of Dec 17 to 31 occurred at the Beverly Hill condominium on Grange Road. A 3,778 sq ft, four-bedroom unit on the eighth floor changed hands for $7.7 million ($2,038 psf) on Dec 20. It had been bought for $3.22 million ($852 psf) in April 1995. Thus, the owner made a profit of $4.48 million (139%), or an annualised profit of 4% over almost 25 years.
The four-bedroom unit at Beverly Hill was sold for $7.7 million ($2,038 psf) on Dec 20. (Picture: Samuel Isaac Chua/The Edge Singapore)
Located in prime District 10, Beverly Hill is a 37-year-old freehold condo developed by Far East Organization. It comprises a 23-storey block with four-bedroom units of 3,778 sq ft, as well as penthouse units of 7,556 sq ft.
This was the second transaction at Beverly Hill in 2019. The other transaction involved a four-bedroom unit on the 11th floor that resulted in a loss of $520,000 (6%) for the seller. That unit changed hands for $8.1 million ($2,144 psf) in October last year, after the owner purchased it for $8.62 million ($2,282 psf) in July 2007. This translates to an annualised loss of 0.5% over 12 years.
The second most profitable transaction during the period in review occurred at The Grange at Grange Garden. A 2,303 sq ft, four-bedroom unit on the 17th floor changed hands for $6 million ($2,605 psf) on Dec 23. It had been bought for $4.15 million ($1,802 psf) in February 2015. The seller made a $1.85 million (45%) profit, or an annualised profit of 8% over almost five years.
A 2,303 sq ft unit at The Grange changed hands for $6 million ($2,605 psf) on Dec 23. (Picture: The Edge Singapore)
A freehold condo in prime District 10, The Grange was developed by MCL Land in 2008. The development comprises three- and four-bedroom units of 1,743 sq ft to 2,301 sq ft, as well as penthouses of 4,379 sq ft to 4,433 sq ft.
Meanwhile, the sale of a 1,033 sq ft, two-bedroom unit on the 16th floor of The Sail @ Marina Bay was the most unprofitable deal recorded during the period in review. The unit was sold for $2.16 million ($2,090 psf) on Dec 17. It had been bought for $2.68 million ($2,594 psf) in August 2011. Hence, the seller incurred a loss of $520,000 (19%), or an annualised loss of 3% over eight years.
The sale of a two-bedroom unit at The Sail @ Marina Bay (centre) was the most unprofitable deal during the Dec 17 to 31 period with a loss of $520,000 (Picture: Samuel Isaac Chua/The Edge Singapore)
The second most unprofitable deal for the period occurred at The Solitaire, a 59-unit freehold condo at Balmoral Park. A 2,164 sq ft, four-bedroom unit on the ninth floor changed hands for $4.1 million ($1,895 psf) on Dec 26. It had been bought for $4.58 million ($2,115 psf) in April 2007. The seller walked away with a $476,420 (10%) loss, or an annualised loss of 1% over almost 13 years.
Check out the latest listings near Beverly Hill, The Grange, The Sail @ Marina Bay, The Solitaire, MRT Stations and Schools
For price trends, recent transactions, other project info, check out these projects' research page: Beverly Hill, The Grange, The Sail @ Marina Bay, The Solitaire
Read also:
Ask Buddy
Follow Us
Follow our channels to receive property news updates 24/7 round the clock.
EdgeProp Telegram
EdgeProp FacebookSubscribe to our newsletter
Top Articles
Search Articles