Resale at Botanic Gardens Mansion reaps $1.45 mil profit
By Charlene Chin
/ EdgeProp |
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The seller of a unit at Botanic Gardens Mansion, off Napier Road in District 10, made the top gain of $1.45 million over the week of Aug 7 to 14. The 1,755 sq ft, three-bedroom unit on the seventh floor was purchased for $1.45 million ($826 psf) in April 2006, and sold for $2.9 million ($1,653 psf) on Aug 10.
The seller reaped a 100% profit, or an annualised profit of 5.8% over a holding period of 12.3 years. This sale marks the third time the unit has changed hands. The previous owner purchased it in June 2001 for $910,000 ($519 psf), and later sold it at a 59% profit of $540,000.
The highest resale profit of all time at Botanic Gardens Mansion involved a similar-sized, three-bedroom unit on the eighth floor. The seller reaped a 186% profit of $1.95 million over 5.3 years, after selling the unit in March 2011 for $3 million ($1,710 psf). The unit was purchased in December 2005 for $1.05 million ($598 psf).
Meanwhile, the second top gain — a 101% profit of $1.38 million — made during the week in review was at The Sea View, off East Coast Road in District 15. The condominium is a six-minute walk to Katong Shopping Centre and a four-minute drive to Dakota MRT station on the Circle Line. The 1,518 sq ft, four-bedroom unit on the 10th floor, purchased for $1.37 million ($900 psf) in April 2009, was sold for $2.75 million ($1,812 psf) on Aug 8. This means the seller made an annualised profit of 7.8% over 9.4 years.
Notably, the top profit made at The Sea View was from the resale of a 2,809 sq ft, five-bedroom unit on the 22nd floor. The seller raked in a 93% profit of $2.3 million when the unit changed hands for $4.78 million ($1,700 psf) in August 2010. The property was purchased in July 2005 for $2.48 million ($882 psf).
A unit sold at Rosevale, on Lincoln Road in District 11, made the third most profitable transaction over the week in review, raking in a 143% profit of $1.32 million. The unit, which is an 11-minute walk to Newton MRT station, was bought in April 1999 for $925,665 ($705 psf) and sold for $2.25 million ($1,713 psf) on Aug 8. The seller made an annualised profit of 4.7% over a holding period of 19.4 years.
A resale unit at Stevens Suites incurred the top loss of $305,840 during the week in review (Credit: Samuel Isaac Chua/The Edge Singapore)
On the other hand, the greatest loss incurred over the week in review was from the resale of a one-bedroom unit at Stevens Suites in District 10. Purchased in September 2010 for $1.19 million ($1,644 psf), the property was sold for $880,000 ($1,220 psf) on Aug 10. The seller sustained a 26% loss of $305,840, or an annualised loss of 3.7% over a holding period of 7.9 years. The condo is a seven-minute drive to ION Orchard and a one-minute drive to Stevens MRT station.
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