Unit at Tanglin Residences reaps $2.99 mil profit
By Charlene Chin
/ EdgeProp Singapore |
SINGAPORE (EDGEPROP) - The seller of a unit at Tanglin Residences, located on 31 St Martin’s Drive, made the top gain of $2.99 million over the week of Nov 23 to 30. The 4,930 sq ft unit on an undisclosed floor was bought for $5.17 million ($1,049 psf) in June 2006, and sold for $8.16 million ($1,656 psf) on Nov 26. The seller therefore made a 58% profit, or an annualised profit of 3% over 15½ years.
The 4,930 sq ft unit at Tanglin Residences was sold for $8.16 million ($1,656 psf) on Nov 26 (Credit: Samuel Isaac Chua/ The Edge Singapore)
Located in District 10, Tanglin Residences was completed in 2005 and comprises 43 freehold units. It is a nine-minute walk from the upcoming Orchard Boulevard MRT Station on the Thomson-East Coast Line.
The second top gain made over the week — a 201% profit of $1.74 million — was at Kew Green, located on Kew Crescent. The 2,992 sq ft unit on an undisclosed floor was purchased for $865,000 ($289 psf) in January 1999, and sold for $2.6 million ($869 psf) on Nov 25. This means that the seller made an annualised profit of 5% over almost 23 years.
Kew Green, located in District 16, comprises 111 units on a 99-year leasehold. Completed in 1997, it is situated opposite the upcoming Bedok South MRT Station on the Thomson-East Coast Line.
Meanwhile, a unit sold at The Linc — located along Lincoln Road in District 11 — made the third largest gain over the week, netting a 150% profit of $1.56 million. The 1,292 sq ft unit on the 16th floor was bought for $1.04 million ($805 psf) in October 2003, and sold for $2.6 million ($2,013 psf) on Nov 25. The seller therefore made an annualised profit of 5% over 18 years.
A unit sold at The Linc, along Lincoln Road in District 15, made the third largest gain over the week, netting a 150% profit of $1.56 million for the seller (Credit: The Edge Singapore)
The Linc comprises 51 freehold units and was completed in 2006. It is a 10-minute walk from Newton MRT Interchange Station on the North-South and Downtown Lines.
On the other hand, the most unprofitable deal of the week was the resale of a 4,112 sq ft unit at Shelford Suites in District 11. Having sold the property for $3.85 million ($936 psf) on Nov 29, the seller made a 13% loss of $578,000. The unit was purchased in March 2010 for $4.43 million ($1,077 psf). Over a holding period of almost 12 years, this translates into an annualised loss of 1%.
Shelford Suites, located along Shelford Road off Dunearn Road, comprises 77 freehold units and was completed in 2011. It is a four-minute drive from Botanic Gardens MRT Interchange Station on the Downtown and Circle Lines.
Check out the latest listings near Tanglin Residences, Kew Green, The Linc, Shelford Suites, Orchard Boulevard MRT Station, Bedok South MRT Station, Newton MRT Interchange Station, Botanic Gardens MRT Interchange Station
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