Unit at The Nassim reaps $2.6 mil profit
By Charlene Chin
/ EdgeProp Singapore |
SINGAPORE (EDGEPROP) - The seller of a unit at The Nassim, located on Nassim Hill, made the top gain of $2.6 million over the week of Oct 26 to Nov 2. The 3,122 sq ft unit on the third floor was bought for $10.4 million ($3,332 psf) in February 2018 and sold for $13 million ($4,165 psf) on Oct 26. The seller therefore made a 25% profit, or an annualised profit of 6% over almost four years.
The 3,122 sq ft unit at The Nassim was sold for $13 million ($4,165 psf) on Oct 26 (Credit: Kheng Leong Co.)
Located in District 10, The Nassim was completed in 2015 and has 55 freehold units. It is an eight-minute drive to Orchard MRT Station on the North-South Line.
The second most profitable resale during the week in review — a 47% profit of $2 million — was at The Esta, located on Amber Gardens in District 15. The 3,477 sq ft unit on the 21st floor was purchased for $4.25 million ($1,222 psf) in July 2012 and sold for $6.25 million ($1,798 psf) on Oct 29. This means that the seller made an annualised profit of 4% over more than nine years.
The Esta comprises 400 freehold units and was completed in 2008. It is a six-minute walk to the upcoming Tanjong Katong MRT Station on the Thomson-East Coast Line.
A unit sold at Martin Place Residences made the third largest gain over the week, netting a 65% profit of $1.77 million. The 1,722 sq ft unit on the 30th floor was bought in June 2009 for $2.73 million ($1,587 psf), and sold for $4.5 million ($2,613 psf) on Oct 27. The seller therefore made an annualised profit of 4% over nearly 12½ years.
Martin Place Residences, located on Martin Place in District 9, comprises 302 freehold units and was completed in 2011. It is a 16-minute walk to the upcoming Great World MRT Station on the Thomson-East Coast Line.
The most unprofitable deal of the week was the sale of a 2,530 sq ft unit at Orchard View for $7.1 million ($2,807 psf) (Credit: Samuel Isaac Chua/ The Edge Singapore)
On the other hand, the most unprofitable deal of the week was the resale of a 2,530 sq ft unit at Orchard View on Oct 27. Having sold the property for $7.1 million ($2,807 psf), the seller suffered an 18% loss of $1.59 million. The unit was purchased in August 2010 for $8.69 million ($3,434 psf). Over a holding period of 11 years, this translates into an annualised loss of 2%.
Orchard View, located on Angullia Park in District 9, comprises 30 freehold units and was completed in 2010. It is a three-minute walk to Orchard MRT Station on the NorthSouth Line.
Check out the latest listings near The Nassim, The Esta, Martin Place Residences, Orchard View, Orchard MRT Station, Tanjong Katong MRT Station, Great World MRT Station, Orchard MRT Station
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