JUST SOLD: 4-Bedder in Nassim Park Residences sold at $3,883 psf
By Tan Chee Yuen
/ The Edge Property |
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A 3,477 sq ft unit in Nassim Park Residences was sold for $13.5 million ($3,883 psf) in September this year. It resulted in a $663,000 profit to the seller, who purchased the property back in July 2011. This translates into a gain of 5.2% or an annualised return of 1.2%.
Nassim Park Residences is a high-end freehold condominium development along Nassim Road, developed by UOL Group Limited and completed in 2011. It is an exclusive low-rise condo which comprises 100 dwellings of 4-bedroom units and penthouses.
Nassim Park Residences
Prior to the introduction of Additional Buyer’s Stamp Duty (ABSD) in December 2011, the highest transacted price for similar-sized units was $14.3 million or $4,120 psf in July 2010. Only two units in the development have crossed the $4,000 psf mark. The other unit was a 6,878 sq ft penthouse which changed hands for $27,520,000 ($4,001 psf) in September 2012.
Post-Total Debt Servicing Ratio in June 2013, prices for similar-sized units in Nassim Park Residences range from $3,451 to $3,940. The average monthly rent in the project for the past six months was $26,250, translating into a rental yield of 1.8%.
Editor: To real estate agents – if you have concluded an interesting deal recently, we would love to hear from you! Contact us at propertyeditor.sg@bizedge.com
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