Resale unit at Sky@Eleven reaps $1.72 mil profit
By Charlene Chin
/ EdgeProp Singapore |
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The 2,713 sq ft unit at Sky@Eleven was bought for $2.78 million ($1,024 psf) in March 2007 and sold for $4.5 million ($1,659 psf) on Oct 8 (Credit: Samuel Isaac Chua/ EdgeProp Singapore)
SINGAPORE (EDGEPROP) - The seller of a unit at Sky@Eleven made the top gain of $1.72 million over the week of Oct 1 to 8. The 2,713 sq ft unit on the 39th floor was purchased for $2.78 million ($1,024 psf) in March 2007 and sold for $4.5 million ($1,659 psf) on Oct 8. The seller made a 62% profit, or an annualised profit of 4% over 13 years.
Located in District 11, Sky@Eleven was completed in 2010 and comprises 273 freehold units across 42 floors. It is a 17-minute walk to Caldecott MRT Station on the Circle Line.
The second top gain made over the week – a 35% profit of $1.65 million – was at Caribbean at Keppel Bay.
Located on Keppel Bay Drive in District 4, the 6,135 sq ft unit on the fourth floor was purchased for $4.65 million ($758 psf) in July 2006 and sold for $6.3 million ($1,027 psf) on Oct 3. This means that the seller made an annualised profit of 2% over 13 years.
Caribbean at Keppel Bay comprises 969 units across 10 storeys. The 99-year leasehold development was completed in 2004 and is a 10-minute walk from Harbourfront Interchange Station on the North-East and Circle Lines.
A unit sold at The Arcadia, along Arcadia Road in District 11, made the third most profitable transaction over the week, netting a 99% profit of $1.57 million. This 3,714 sq ft unit on the eighth floor was bought in August 2005 for $1.59 million ($427 psf), and sold for $3.15 million ($848 psf) on Oct 4. The seller thus made an annualised profit of 5% over 14 years.
Completed in 1983, The Arcadia comprises 164 units on a 99-year leasehold. It is 18 minutes by bus to Tan Kah Kee MRT Station on the Downtown Line.
For price trends, recent transactions, other project info, check out these projects' research page: Sky@Eleven, Caribbean at Keppel Bay, The Arcadia, The Marq on Paterson Hill
The greatest loss incurred over the week was from the resale of a 6,232 sq ft unit at The Marq on Paterson Hill in District 9 (Credit: Samuel Isaac Chua/ EdgeProp Singapore)
Meanwhile, the greatest loss incurred over the week was from the resale of a 6,232 sq ft unit at The Marq on Paterson Hill in District 9. Having sold the property for $25 million ($4,011 psf) on Oct 7, the seller sustained a 9% loss of $2.49 million.
The unit was purchased in July 2007 for $27.49 million ($4,410 psf). Over a holding period of 12 years, this translates into an annualised loss of 1%.
The 66-unit, freehold project was completed in 2011 and is a six-minute walk from Orchard MRT Station on the North-South Line.
Check out the latest listings near Sky@Eleven, Caribbean at Keppel Bay, The Arcadia, The Marq on Paterson Hill, MRT Stations and Schools
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