Unit at Turquoise sold at $2.3 mil loss
By The Edge Singapore
/ EdgeProp Singapore |
SINGAPORE (EDGEPROP) - The most unprofitable deal of the week was the resale of a 2,153 sq ft unit at Turquoise on Sentosa island. Having sold the property for $3.45 million ($1,603 psf), the seller suffered a 40% loss of $2.32 million. The unit was purchased in October 2007 for $5.77 million ($2,681 psf). Over a holding period of 14 years, this translates into an annualised loss of 4%.
Read also: Unit at Scotts 28 reaps $1.79 mil profit
The most unprofitable deal of the week was the resale of a 2,153 sq ft unit at Turquoise in District 4 (Credit: Samuel Isaac Chua/ The Edge Singapore)
Turquoise, on Cove Drive in District 4, comprises 91 units on a 99-year leasehold and was completed in 2010. It is an 11-minute drive to Harbourfront MRT Interchange Station on the North-East and Circle Lines.
On the other hand, the seller of a unit at Hills Apartment, on Goldhill Avenue, made the top gain of $3.63 million over the week of Nov 30 to Dec 7. The 3,638 sq ft unit on the second floor was bought for $2.68 million ($735 psf) in April 2004 and sold for $6.3 million ($1,732 psf) on Dec 1. The seller therefore made a 136% profit, or an annualised profit of 5% over almost 18 years.
Located in District 11, Hills Apartment was completed in 1975 and comprises 10 freehold units. It is a six-minute drive to the upcoming Mount Pleasant MRT Station on the Thomson-East Coast Line.
The second top gain made over the week — a 281% profit of $3.17 million — was at Jaya Tower, on Bukit Timah Road. The 2,024 sq ft unit on the fourth floor was purchased for $1.13 million ($558 psf) in November 2001 and sold for $4.3 million ($2,125 psf) on Dec 6. This means that the seller made an annualised profit of 7% over 20 years.
Jaya Tower, in District 10, comprises 28 freehold units and was completed in 1979. It is a seven-minute walk to Stevens MRT Station on the Downtown Line.
A unit sold at The Marbella made the third largest gain over the week, netting a 190% profit of $2.13 million for the seller (Credit: Samuel Isaac Chua/ The Edge Singapore)
A unit sold at The Marbella, along Mount Sinai Rise in District 10, made the third largest gain over the week, netting a 190% profit of $2.13 million for the seller. The 1,582 sq ft unit on the 16th floor was bought in January 2005 for $1.12 million ($708 psf), and sold for $3.25 million ($2,054 psf) on Dec 3. The seller therefore made an annualised profit of 7% over almost 17 years.
The Marbella comprises 239 freehold units and was completed in 2005. It is a six-minute drive to the upcoming Dover MRT Station on the East-West Line.
Check out the latest listings near Turquoise, Hills Apartment, Jaya Tower, The Marbella, Harbourfront MRT Interchange Station, Mount Pleasant MRT Station, Stevens MRT Station, Dover MRT Station
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