Unit at Pandan Valley reaps $2.3 mil profit
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SINGAPORE (EDGEPROP) - The seller of a unit at Pandan Valley, along Pandan Valley Road, made the top gain of $2.32 million over the week of May 11 to 18. The 3,272 sq ft unit on the second floor was bought for $1.49 million ($455 psf) in March 2001 and sold for $3.81 million ($1,164 psf) on May 14. The seller therefore made a 156% profit, or an annualised profit of 5% over 20 years. (See: Unit at Pandan Valley sold for $1.62 mil profit)
Located in District 21, Pandan Valley was completed in 1978 and has 623 freehold units. It is a seven-minute drive from Dover MRT Station on the East-West Line.
The second top gain made over the week — a 130% profit of $2.25 million — was at Leonie Gardens, along Leonie Hill. The 2,540 sq ft unit on the fifth floor was purchased for $1.73 million ($681 psf) in June 2006 and sold for $3.98 million ($1,567 psf) on May 17. This means that the seller made an annualised profit of 6% over almost 15 years.
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Leonie Gardens, in District 9, comprises 138 units on a 99-year leasehold and was completed in 1993. It is an 11-minute walk from the upcoming Great World MRT Station on the Thomson-East Coast Line.
A unit at Dormer Park, located along Jervois Road in District 10, made the third largest gain over the week, netting a 113% profit of $2.15 million for the seller. The 2,347 sq ft unit on the 10th floor was bought in August 2000 for $1.9 million ($810 psf), and sold for $4.05 million ($1,726 psf) on May 12. The seller therefore made an annualised profit of 4% over almost 21 years.
Dormer Park comprises 92 freehold units, and was completed in 1993. It is a three-minute drive from Redhill MRT Station on the East-West Line.
On the other hand, the most unprofitable deal of the week was the resale of a 1,711 sq ft unit at The Oceanfront @ Sentosa Cove in District 4. Having sold the property for $2.57 million ($1,500 psf) on May 12, the seller suffered a 23% loss of $768,450. The unit was purchased in July 2007 for $3.34 million ($1,949 psf). Over a holding period of almost 14 years, this translates into an annualised loss of 2%.
The Oceanfront @ Sentosa Cove, located along Ocean Drive, comprises 264 units on a 99-year leasehold, and was completed in 2010. It is a 15-minute drive from Harbourfront MRT Interchange Station on the North-East and Circle Lines.
Check out the latest listings near Pandan Valley, The Oceanfront @ Sentosa Cove, Dover MRT Station, Great World MRT Station, Redhill MRT Station, Harbourfront MRT Interchange Station
Ask Buddy
Compare price trend of HDB vs Condo vs Landed
Condo projects with most unprofitable transactions
Condo projects with most expensive average PSF
Most unprofitable condo transactions in past 1 year
Condo transactions with the highest profits in the past year
Compare price trend of HDB vs Condo vs Landed
Condo projects with most unprofitable transactions
Condo projects with most expensive average PSF
Most unprofitable condo transactions in past 1 year
Condo transactions with the highest profits in the past year
https://www.edgeprop.sg/property-news/unit-pandan-valley-reaps-23-mil-profit
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