Unit at Cairnhill Astoria reaps $2.1 mil profit
By Charlene Chin
/ EdgeProp Singapore |
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SINGAPORE (EDGEPROP) - The seller of a unit at Cairnhill Astoria, located along Cairnhill Rise, made the top gain of $2.11 million over the week of Aug 4 to 11. The 1,830 sq ft unit on the eighth floor was bought for $1.14 million ($623 psf) in March 2005 and sold for $3.25 million ($1,776 psf) on Aug 6. The seller therefore made a 185% profit, or an annualised profit of 7% over 15 years.
Located in District 9, Cairnhill Astoria was completed in 1983. The development comprises 36 freehold units, and is a 15-minute walk to Newton MRT Interchange Station on the Downtown and North-South Lines.
A unit sold at Twin Regency — a freehold condominium development located along Kim Tian Road in District 3 — made the second largest gain over the week, netting an 85% profit of $1.15 million for the seller. The 1,442 sq ft unit on the 33rd floor was purchased in December 2006 for $1.35 million ($936 psf), and sold for $2.5 million ($1,733 psf) on Aug 6. The seller therefore made an annualised profit of 5% over almost 14 years.
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Twin Regency comprises 234 units and was completed in 2007. It is a five-minute walk to Tiong Bahru MRT Station on the East-West Line.
Meanwhile, the third top gain made over the week — a 121% profit of $1.09 million — was at Robertson 100. The 1,033 sq ft unit on the third floor was purchased for $905,500 ($876 psf) in June 2002 and sold for $2 million ($1,935 psf) on Aug 6. This means that the seller made an annualised profit of 4% over 18 years.
Robertson 100, located along Robertson Quay in District 9, comprises 186 freehold units. It was completed in 2004 and is a 14-minute walk to the upcoming Havelock MRT Station on the Thomson-East Coast Line, which is slated to open in 2021.
On the other hand, the biggest loss incurred over the week in review was for the resale of a 2,895 sq ft unit at Draycott Eight in District 10. Having sold the property for $5.5 million ($1,899 psf) on Aug 6, the seller suffered a 13% loss of $800,000. The unit was purchased in July 2009 for $6.3 million ($2,176 psf). Over a holding period of 11 years, this translates into an annualised loss of 1%.
Draycott Eight, located along Draycott Park near the Orchard area, comprises 136 units in three blocks of 24 storeys each. It is on a 99-year leasehold. Completed in 2005, it is a 15-minute walk to Newton MRT Interchange Station on the Downtown and North-South Lines.
Check out the latest listings near Cairnhill Astoria, Twin Regency, Robertson 100, Draycott Eight, Tiong Bahru MRT Station, Newton MRT Interchange Station and Havelock MRT Station
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Landed transactions with the highest profits in the past year
Condo projects with most expensive average PSF
Listings for condo units
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Condo transactions with the highest profits in the past year
Landed transactions with the highest profits in the past year
Condo projects with most expensive average PSF
Listings for condo units
Condo projects with most unprofitable transactions
Condo transactions with the highest profits in the past year
https://www.edgeprop.sg/property-news/unit-cairnhill-astoria-reaps-21-mil-profit
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