Four-bedder at Nassim 9 sold for $4.4 mil profit
The sale of a 3,423 sq ft unit at Nassim 9, an estate property development on Nassim Street in top Area 10, was the best highly profitable agreement documented during the week of Oct 25 to Nov 1. The four-bedroom unit, that changed hands for $11.2 million ($3,272 psf) on Oct 27, had actually been purchased by the vendor for $6.8 million ($1,987 psf) in October 2009, equating to a gain of $4.4 million, or 64.7%, more than the 13-year holding duration.
Nassim 9, a store deluxe property development completed in 2002, has only eight units housed in a four-storey establishment. It lies within walking range of Orchard Blvd MRT Terminal (on the Thomson-East Coast Line), which is due to open on Nov 13. The Botanic Gardens, Tanglin Shopping Mall as well as The Forum are additionally within strolling proximity.
The second-most successful transaction for the week happened at The Oceanfront @ Sentosa Cove. A double penthouse gauging 5,985 sq ft on the 15th level was cost $14.3 million ($2,389 psf) on Oct 28. The vendor had actually bought the unit for $11.5 million ($1,922 psf) in June 2009, which suggests they brought in a $2.8 million (24.3%) revenue on the deal after holding the property for 13 1/2 years.
The condominium was among numerous resell units to be offered underneath their acquisition costs in the last two years, according to data put together by the EdgeProp Research tool. The most unlucrative transaction at the property development occurred in July 2020, when a 3,854 sq ft unit was fetched $5.85 million ($1,518 psf), with the seller sustaining a loss of $4.8 million.
The Oceanfront @ Sentosa Cove is a 99-year leasehold, ultra-luxury apartment in the Sentosa Cove enclave in District 4. Found on an islet, the sea-facing residence was established by a mutual endeavor between City Developments as well as TID (an alliance in between Hong Leong Holdings plus Mitsui Fudosan) and finished in 2010. The property contains 5 towers varying from 13 to 15 floors tall, and a total of 264 units. Unit sizes begin with 1,216 sq ft for a two-bedroom condo, rising to 8,095 sq ft for the best penthouse.
The most unprofitable purchase recorded for the week was the sale of a unit at Reflections at Keppel Bay, situated along Keppel Bay View in District 4. On Oct 31, a unit measuring 2,379 sq ft on the 27th level obtained $4.3 million ($1,808 psf). The seller had acquired the unit for $5.4 million ($2,278 psf) in May 2007. For this reason, they incurred a decline of 20.6% or $1.1 million over a 15 1/2-year holding period.
The unit sold on Oct 27 clocked the highest price worked out at the development on both psf and even absolute bases. Before this, the most recent purchase at Nassim 9 occurred in April 2012 when a 3,143 sq ft unit was sold for $8.8 million ($2,800 psf), which at the same time marked the last psf- and absolute-price highs for the apartment.
Reflections at Keppel Bay is a 1,129-unit beachfront deluxe property by Keppel Land. The 99-year leasehold development, with six residential towers and also 11 vacation home apartment blocks, was completed in 2011.
