Resale unit at The Oceanfront reaps $2.2 mil profit
By Charlene Chin
/ EdgeProp Singapore |
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SINGAPORE (EDGEPROP) - The seller of a unit at The Oceanfront @ Sentosa Cove made the top gain of $2.2 million over the week of Sept 17 to 24. The 7,793 sq ft unit on the 13th floor was purchased for $8.19 million ($1,051 psf) in August 2006 and sold for $10.4 million ($1,334 psf) on Sept 20. Thus, the seller made a 27% profit, or an annualised profit of 2% over 13 years.
Located in District 4, The Oceanfront @ Sentosa Cove comprises 264 units on a 99- year leasehold and was completed in 2010. It is a 15-minute drive to Harbourfront MRT Interchange Station on the North-East Line and the Circle Line.
The second top gain made over the week – a 167% profit of $1.75 million – was at The Shelford, on Shelford Road in District 11. The 1,399 sq ft, three-bedroom unit on the second floor was purchased for $1.05 million ($750 psf) in March 2005 and sold for $2.8 million ($2,001 psf) on Sept 24. This means that the seller made an annualised profit of 7% over 14½ years.
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The Shelford comprises 215 freehold units across six storeys and was completed in 2005. It is 12 minutes by foot to Tan Kah Kee MRT Station on the Downtown Line.
A unit sold at The Wharf Residence, along Tong Watt Road in District 11, made the third most profitable transaction over the week, netting an 88% profit of $1.2 million for the seller. The 1,066 sq ft, two-bedroom unit on the 20th floor was bought in June 2009 for $1.36 million ($1,274 psf), and sold for $2.56 million ($2,402 psf) on Sept 24. The seller therefore made an annualised profit of 6% over 10 years.
The Wharf Residence, completed in 2012, comprises 186 units on a 999-year leasehold. It is a nine-minute walk to Fort Canning MRT Station on the Downtown Line.
On the other hand, the greatest loss incurred over the week was from the resale of a 5,511 sq ft unit at The Trillium in District 9. Having sold the property for $10.38 million ($1,883 psf) on Sept 23, the seller sustained a 16% loss of $2.02 million. The unit was purchased in June 2011 for $12.4 million ($2,250 psf). Over a holding period of eight years, this translates into an annualised loss of 2%.
The Trillium is a 237-unit, freehold project on Kim Seng Road. Completed in 2010, it is a two-minute walk to the future Great World MRT Station on the Thomson-East Coast Line, which is planned for completion in 2021.
For price trends, recent transactions, other project info, check out these projects' research page: The Oceanfront @ Sentosa Cove, The Shelford, The Wharf Residence, The Trillium
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Check out the latest listings near The Oceanfront @ Sentosa Cove, The Shelford, The Wharf Residence, The Trillium, MRT Stations and Schools
Ask Buddy
Compare price trend of New sale condo vs Resale condo
Landed transactions with the highest profits in the past year
Condo projects with most profitable transactions
Compare price trend of Condo new sale vs EC new sale
Listings for condo units
Compare price trend of New sale condo vs Resale condo
Landed transactions with the highest profits in the past year
Condo projects with most profitable transactions
Compare price trend of Condo new sale vs EC new sale
Listings for condo units
https://www.edgeprop.sg/property-news/resale-unit-oceanfront-reaps-22-mil-profit
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