Unit at The Orchard Residences sold at $2 mil loss
By Charlene Chin
/ EdgeProp Singapore |
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SINGAPORE (EDGEPROP) - The seller of a unit at Leonie Parc View, on Leonie Hill Road, made the top loss of $2.12 million over the period of April 26 to May 5. The 2,013 sq ft unit on the 17th floor was bought for $6.55 million ($3,254 psf) in August 2007 and sold for $4.43 million ($2,200 psf) on May 4. The seller therefore made a 32% loss, or an annualised loss of 3% over almost 13 years.
Located in District 9, Leonie Parc View was completed in 2009 and comprises 44 freehold units. 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 second top loss made over the period — a 17% loss of $2.04 million — was at The Orchard Residences. The 2,853 sq ft unit on the 43rd floor was purchased for $11.7 million ($4,099 psf) in September 2009 and sold for $9.65 million ($3,383 psf) on May 4. This means that the seller made an annualised loss of 2% over almost 11 years.
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The Orchard Residences, in District 9, was completed in 2010 and comprises 175 units on a 99-year leasehold. It is a three-minute walk to Orchard MRT Station on the North-South Line.
A unit sold at Caribbean at Keppel Bay, along Keppel Bay Drive in District 4, made the third largest loss over the period, netting a 7% loss of $115,000 for the seller. The 1,270 sq ft unit on the first floor was bought in September 2011 for $1.7 million ($1,334 psf), and sold for $1.58 million ($1,244 psf) on April 28. The seller therefore made an annualised loss of 1% over almost nine years.
Caribbean at Keppel Bay, completed in 2004, comprises 969 units on a 99-year leasehold. It is 10 minutes by foot to Harbourfront MRT Interchange Station on the North-East and Circle Lines.
On the other hand, the greatest profit made over the period was from the resale of a 904 sq ft unit at Evelyn Mansions in District 11. Having sold the property for $1.54 million ($1,701 psf) on April 28, the seller reaped a 71% profit of $638,000. The unit was purchased in June 2009 for $900,000 ($995 psf). Over a holding period of almost 11 years, this translates into an annualised profit of 5%.
Evelyn Mansions comprises 40 freehold units along Evelyn Road. Completed in 1997, it is a seven-minute walk to Newton MRT Station on the North-South Line.
Check out the latest listings near The Orchard Residences, Leonie Parc View, Caribbean at Keppel Bay, Evelyn Mansions, MRT Stations and Schools
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Condo transactions with the highest profits in the past year
Compare price trend of HDB vs Condo vs Landed
Listings for condo units
Condo projects with most unprofitable transactions
Condo projects with most profitable transactions
Condo transactions with the highest profits in the past year
Compare price trend of HDB vs Condo vs Landed
Listings for condo units
Condo projects with most unprofitable transactions
Condo projects with most profitable transactions
https://www.edgeprop.sg/property-news/unit-orchard-residences-sold-2-mil-loss
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