Clementi Park unit makes $1.88 mil profit
By Timothy Tay
/ EdgeProp Singapore |
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SINGAPORE (EDGEPROP) - The sale of a five-bedroom unit at Clementi Park, a 796-unit condo in District 21, was the most profitable transaction during the week of Sept 10 to 17. The 3,401 sq ft, ground-floor unit changed hands for $3.34 million ($983 psf) on Sept 12. It had been bought for $1.46 million ($429 psf) in 2001. Thus, the seller walked away with a profit of $1.88 million (129%), or an annualised profit of 5% over 18 years.
Clementi Park is a freehold condo developed by City Developments Ltd, and was completed in 1986. Located at the end of Sunset Way, off Clementi Road, the condo borders the Pan-Island Expressway, Clementi Avenue 6, and a landed housing estate.
The second most profitable deal during the week in review occurred at Morimasa Gardens, a freehold 38-unit development on Gilstead Road in prime District 11. A 1,873 sq ft, three-bedroom unit there was sold on Sept 17 for $2.9 million ($1,548 psf), realising a gain of $1.84 million (174%) or an annualised profit of 7% over 14 years. The seller had purchased the unit in 2005 for $1.06 million ($566 psf).
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Meanwhile, the most unprofitable resale transaction during the week occurred at Miro, a freehold condo on Lincoln Road. On Sept 17, a 1,249sq ft, two-bedroom unit there was sold for $1.82 million ($1,458 psf). The seller had purchased the unit for $2.4 million ($1,922 psf) in 2013, which means he recorded a loss of $580,000 (24%) on the sale, which translates into an annualised loss of 4% over 6½ years.
Elsewhere, the sale of an 861 sq ft, two-bedroom unit at the 99-year leasehold The Sail@Marina Bay recorded the second highest loss after it changed hands for $1.63 million ($1,891 psf) on Sept 11. The seller incurred a loss of $404,821 on the sale, as he had bought the unit for $2.03 million ($2,361 psf) in 2011.
For price trends, recent transactions, other project info, check out these projects' research page: Clementi Park, Morimasa Gardens, Miro, The Sail @ Marina Bay
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Ask Buddy
Condo projects with most expensive average PSF
Landed transactions with the highest profits in the past year
Condo projects with most profitable transactions
Most unprofitable condo transactions in past 1 year
Most unprofitable landed transactions in past 1 year
Condo projects with most expensive average PSF
Landed transactions with the highest profits in the past year
Condo projects with most profitable transactions
Most unprofitable condo transactions in past 1 year
Most unprofitable landed transactions in past 1 year
https://www.edgeprop.sg/property-news/clementi-park-unit-makes-188-mil-profit
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