Unit at Elizabeth Heights reaps $2.47 mil profit
By Charlene Chin
/ EdgeProp Singapore |
Ask Buddy
SINGAPORE (EDGEPROP) - The seller of a unit at The Imperial, on Jalan Rumbia, made the top gain of $3.35 million over the week of Jan 21 to 28. The 3,531 sq ft unit on the 13th floor was bought for $2.85 million ($807 psf) in September 2003 and sold for $6.2 million ($1,756 psf) on Jan 22. The seller therefore made a 118% profit, or an annualised profit of 5% over 16 years.
Located in District 9, The Imperial was completed in 2006 and comprises 187 freehold units. It is a five-minute walk to Fort Canning MRT Station on the Downtown line.
The second top gain made over the week – a 131% profit of $2.47 million – was at Elizabeth Heights, on Cairnhill Road. The 2,497 sq ft unit on the eighth floor was purchased for $1.88 million ($753 psf) in January 1996 and sold for $4.35 million ($1,742 psf) on Jan 22. This means that the seller made an annualised profit of 4% over 24 years.
Elizabeth Heights, also in District 9, comprises 90 freehold units. It was completed in 1983 and is a 10-minute walk to Newton MRT Station on the North-South Line.
A unit sold at Horizon Towers, along Leonie Hill Road in District 9, made the third largest gain over the week, netting a 95% profit of $1.67 million for the seller. The 2,616 sq ft unit on the 15th floor was bought in June 1997 for $1.75 million ($669 psf), and sold for $3.42 million ($1,308 psf) on Jan 23. The seller therefore made an annualised profit of 3% over almost 23 years.
Horizon Towers, completed in 1984, comprises 210 units on a 99-year leasehold. It is a one-minute drive to the upcoming Great World MRT Station on the Thomson-East Coast Line, slated for completion in 2021.
The greatest loss incurred over the week was from the resale of a 1,604 sq ft unit at OUE Twin Peaks in District 9 (Credit: Samuel Isaac Chua/ The Edge Singapore)
On the other hand, the greatest loss incurred over the week was from the resale of a 1,604 sq ft unit at OUE Twin Peaks in District 9. Having sold the property for $3.5 million ($2,182 psf) on Jan 23, the seller suffered a 12% loss of $457,870. The unit was purchased in May 2016 for $3.96 million ($2,468 psf). Over a holding period of almost four years, this translates into an annualised loss of 3%.
OUE Twin Peaks is a 462-unit project on a 99-year leasehold along Leonie Hill Road. Completed in 2015, it is a nine-minute walk to Orchard MRT Station on the North-South Line.
Check out the latest listings near Elizabeth Heights, The Imperial, Horizon Towers, OUE Twin Peaks, MRT Stations and Schools
For price trends, recent transactions, other project info, check out these projects' research page: Elizabeth Heights, The Imperial, Horizon Towers, OUE Twin Peaks
Read also:
Ask Buddy
Follow Us
Follow our channels to receive property news updates 24/7 round the clock.
EdgeProp Telegram
EdgeProp FacebookSubscribe to our newsletter
Top Articles
Search Articles