Unit at Yong An Park reaps $8.7 mil profit
By Charlene Chin
/ EdgeProp Singapore |
(Source: EdgeProp; URA)
SINGAPORE (EDGEPROP) - The seller of a unit at Yong An Park, on River Valley Road, made the top gain of $8.7 million over the week of Aug 31 to Sept 5. The 6,577 sq ft unit on the 25th floor was bought for $3.8 million ($578 psf) in May 2000 and sold for $12.5 million ($1,901 psf) on Sept 3. The seller therefore made a 229% profit, or an annualised profit of 6% over 21 years.
Read also: Unit at 72 Grange makes $3.15 mil loss
The 6,577 sq ft unit on the 25th floor of Yong An Park was sold for $12.5 million ($1,901 psf) on Sept 3 (Credit: Samuel Isaac Chua/ The Edge Singapore)
Located in District 9, Yong An Park was completed in 1986 and has 288 freehold units. It is an eight-minute walk to the upcoming Great World MRT Station on the Thomson-East Coast Line.
The second top gain made over the week — a 56% profit of $3.15 million — was at The Tate Residences, on Claymore Road. The 3,208 sq ft unit on the seventh floor was purchased for $5.66 million ($1,762 psf) in August 2006 and sold for $8.8 million ($2,743 psf) on Sept 1. This means that the seller made an annualised profit of 3% over 15 years.
The Tate Residences, in District 9, comprises 85 freehold units and was completed in 1997. It is a 10-minute walk to Orchard MRT Station on the North-South Line.
A unit sold at Maple Woods, on Bukit Timah Road in District 21, made the third largest gain over the week, netting a 184% profit of $2.8 million for the seller. The 2,551 sq ft unit on the ninth floor was bought in April 1999 for $1.52 million ($596 psf), and sold for $4.32 million ($1,693 psf) on Sept 3. The seller therefore made an annualised profit of 5% over 22 years.
Maple Woods comprises 697 freehold units and was completed in 1997. It is a two-minute walk to King Albert Park MRT Station on the Downtown Line.
Having sold a unit at Mon Jervois for $2.75 million ($1,980 psf) on Sept 1, the seller suffered a 19% loss of $650,000 (Credit: Samuel Isaac Chua/ The Edge Singapore)
On the other hand, the most unprofitable deal of the week was the resale of a 1,389 sq ft unit at Mon Jervois in District 10. Having sold the property for $2.75 million ($1,980 psf) on Sept 1, the seller suffered a 19% loss of $650,000. The unit was purchased in April 2018 for $3.4 million ($2,449 psf). Over a holding period of almost 3½ years, this translates into an annualised loss of 6%.
Mon Jervois, on Jervois Road, comprises 109 units on a 99-year leasehold and was completed in 2016. It is a four-minute drive to Redhill MRT Station on the EastWest Line.
Check out the latest listings near Yong An Park, The Tate Residences, Maple Woods, Mon Jervois, Great World MRT Station, Orchard MRT Station, King Albert Park MRT Station, Redhill MRT Station
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