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JUST SOLD: Nassim Park Residences unit sold for $10.4 mil

By Tan Chee Yuen

/ The Edge Property |

December 22, 2016 11:42 AM SGT

A 3,466 sq ft unit on the fourth floor of Nassim Park Residences was sold for $10.4 million on Dec 8. This works out to $3,001 psf, the lowest price in psf terms since 2010 when a 4,822 sq ft unit fetched $13.8 million ($2,862 psf) in March that year. Nevertheless, it was a profitable transaction for the seller who purchased the unit for $10 million ($2,885 psf) in November 2009. The capital gain was $400,000 or 4%.

Prices at Nassim Park Residences have stayed above the $3,000 psf mark since March 2010. So far this year, there have been four profitable and three unprofitable transactions, based on caveat data matching.

Nassim Park Residences is a luxury condo project comprising 100 units near the Orchard Road shopping belt. The project was completed in 2011.

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