Unit at The Metropolitan Condominium reaps $1.4 mil profit
/ EdgeProp Singapore |
Ask Buddy
SINGAPORE (EDGEPROP) - The seller of a unit at The Imperial, located along Jalan Rumbia in River Valley, made the top gain of $1.92 million over the week of Feb 22 to March 1. The 3,552 sq ft unit on the 13th floor was bought for $4.48 million ($1,261 psf) in October 2006 and sold for $6.4 million ($1,802 psf) on Feb 25. The seller thus made a 43% profit, or an annualised profit of 2% over nearly 15½ years.
Located in District 9, The Imperial was completed in 2006 and comprises 187 freehold units. It is less than a 10-minute walk to the Dhoby Ghaut MRT Station, which is an interchange for the North-South, North-East and Circle Lines.
The second top gain made over the week — a 80% profit of $1.4 million — was at The Metropolitan Condominium, located at Alexandra View. A 1,894 sq ft unit on the 32nd floor was purchased for $1.75 million ($924 psf) in June 2009 and sold for $3.15 million ($1,663 psf) on Feb 23. This means that the seller made an annualised profit of 5% over a period of nearly 13 years.
The Metropolitan Condominium is located in District 3 and comprises 382 units that are 99-year leasehold. The project was completed in 2009, and is a five-minute walk from Redhill MRT Station on the East-West Line.
A unit at The Metropolitan Condominum was sold for $3.15 million ($1,663 psf) on Feb 23 (Photo: Samuel Isaac Chua/The Edge Singapore)
Meanwhile, a unit sold at Ardmore Park in District 10 also netted a $1.4 million gain for the seller, representing a profit of 15%. The 2,885 sq ft unit on the 11th floor was bought in August 2010 for $9.1 million ($3,155 psf), and sold for $10.5 million ($3,640 psf) on Feb 22. The seller therefore made an annualised profit of 1% over 11½ years.
Ardmore Park is a freehold luxury development that was completed in 2001. There are 330 four-bedroom units of 2,885 sq ft and six duplex penthouses of 8,740 sq ft.
On the other hand, the most unprofitable deal of the week was the resale of a 1,399 sq ft unit on the 15th floor at OUE Twin Peaks in District 9. Having sold the property for $3.32 million ($2,373 psf) on Feb 22, the seller made a 9% loss of about $330,000. The unit was purchased in August 2016 for $3.65 million ($2,609 psf). Over a holding period of over 5½ years, this translates into an annualised loss of 2%. (Check all latest Singapore property Market Trends)
OUE Twin Peaks, located on Leonie Hill Road, was completed in 2015. The 99-year leasehold development comprises 462 units. Located close to the Orchard Road shopping belt, it is an eight-minute walk from Somerset MRT Station on the North-South Line.
A unit at OUE Twin Peaks was sold at a loss of about $330,000 on Feb 22 (Photo: Samuel Isaac Chua/The Edge Singapore)
Check out the latest listings near The Imperial, The Metropolitan Condominium, Ardmore Park, OUE Twin Peaks, Dhoby Ghaut MRT Station, Redhill MRT Station, Somerset MRT Station
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