Three-bedroom unit at One Amber earns $1.48 mil profit
By Timothy Tay
/ EdgeProp Singapore |
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The sale of a three-bedroom unit at La Suisse, a condo on Swiss View Road in District 11, earned its seller a profit of $1.63 million (177%) on May 31. The 2,099 sq ft unit changed hands for $2.55 million ($1,215 psf), having been bought for $920,000 ($438 psf) in November 2006. This translates to an annualised profit of 8.4% over more than 12 years.
The sale is the most profitable on record for the week of May 28 to June 4, and is also the most profitable deal ever recorded at the 999-year leasehold development. The latest transaction tops an earlier sale in 2011, which made a profit of $1.42 million (169%) for the seller of a 2,131 sq ft unit. The earlier sale fetched $2.25 million ($1,056 psf) when it changed hands in March that year, compared to its purchase price of $835,000 ($392 psf) in July 2006.
The 155-unit condo was completed in 1993, and profits have ranged from $8,000 to $1.63 million over 44 transactions in the last 26 years, based on the matching of Realis caveats.
The second most profitable deal during the week was at One Amber in the Amber Road neighbourhood in District 15. A 1,453 sq ft, three-bedroom unit on the seventh floor was sold for $2.55 million ($1,755 psf) on May 29, having been bought for $1.07 million ($742 psf) in December 2006. Hence, the seller reaped a $1.48 million (138%) profit, or an annualised profit of 7% over more than 12 years.
For price trends, recent transactions, other project info, check out the One Amber project details page
The seller of a three-bedroom unit at One Amber in the Amber Road neighborhood walked away with a 138% profit when it was sold on May 29 (Pictures: Samuel Isaac Chua/EdgeProp Singapore)
This is the third most profitable transaction at the freehold, 562-unit condo. The most profitable deal occurred in 2011, when a 3,165 sq ft, four-bedroom unit fetched $4.43 million ($1,399 psf). It had been bought for $2.39 million ($756 psf) in March 2006. The seller thus made a $2.03 million (85%) profit on the sale. But according to caveats, this unit later changed hands for $3.7 million ($1,169 psf) in May 2016, which translates into a $727,835 loss.
Topping the list of unprofitable deals during the week in review are two units at Icon, a 99-year leasehold condo on Gopeng Street in District 2. The greatest loss was recorded for the sale of a 657 sq ft, one-bedroom unit on the 29th floor. It fetched $1.08 million ($1,657 psf) when it was sold on May 28, and had been bought for $1.298 million ($1,977 psf) in October 2012. This means that the seller incurred a $210,000 loss on the sale of the unit.
The sale of two separate units at Icon, on Gopeng Street, topped the list of unprofitable deals during the week in review
A day later, another one-bedroom unit of 581 sq ft also incurred a loss for its seller when it changed hands for $995,000 ($1,712 psf). The seller of this 19th floor unit had bought the property for $1.128 million ($1,941 psf) in April 2013, and this translates into a $133,000 loss on the sale.
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