Four-bedder at Nassim 9 sold for $4.4 mil profit

The unit retailed on Oct 27 clocked the highest cost worked out at the property development on both psf and absolute bases. Prior to this, the most current purchase at Nassim 9 occurred in April 2012 the moment a 3,143 sq ft unit was yielded $8.8 million ($2,800 psf), which also registered the previous psf- and absolute-price highs for the condo.

Newport Residences condo

The Oceanfront @ Sentosa Cove is a 99-year leasehold, ultra-luxury condo in the Sentosa Cove enclave in District 4. Situated on an island, the sea-facing condo was built by a mutual venture in between City Developments and also TID (an alliance in between Hong Leong Holdings plus Mitsui Fudosan) and even finished in 2010. The project includes five towers varying from 13 to 15 floors tall, as well as a total amount of 264 units. Unit sizes start from 1,216 sq ft for a two-bedroom apartment, going up to 8,095 sq ft for the largest penthouse.

Nassim 9, a boutique high-end development finished in 2002, has just eight units housed in a four-storey establishment. It is located within walking distance of Orchard Boulevard MRT Terminal (on the Thomson-East Coast Line), that is due to open on Nov 13. The Botanic Gardens, Tanglin Shopping Center and also The Forum are likewise in just walking distance.

Reflections at Keppel Bay is a 1,129-unit beachfront deluxe development by Keppel Land. The 99-year leasehold development, with 6 residential towers and also 11 vacation home apartment blocks, was finished in 2011.

One of the most unprofitable purchase documented for the week was the profit of a unit at Reflections at Keppel Bay, situated along Keppel Bay View in District 4. On Oct 31, a unit estimating 2,379 sq ft on the 27th floor fetched $4.3 million ($1,808 psf). The dealer had actually acquired the unit for $5.4 million ($2,278 psf) in May 2007. Hence, they acquired a decline of 20.6% or $1.1 million over a 15 1/2-year holding duration.

The condominium was just one of numerous resell units to be marketed underneath their purchase prices in the last 2 years, according to details compiled by the EdgeProp Research study resource. The most unprofitable transaction at the project happened in July 2020, when a 3,854 sq ft unit was sold for $5.85 million ($1,518 psf), with the seller accumulating a loss of $4.8 million.

The second-most lucrative transaction for the week took place at The Oceanfront @ Sentosa Cove. A duplex penthouse determining 5,985 sq ft on the 15th floor was marketed for $14.3 million ($2,389 psf) on Oct 28. The seller had bought the unit for $11.5 million ($1,922 psf) in June 2009, which indicates they brought in a $2.8 million (24.3%) revenue on the proceeding after holding the building for 13 1/2 years.

The sale of a 3,423 sq ft unit at Nassim 9, a real estate project on Nassim Street in top Community 10, was the most profitable transaction documented during the week of Oct 25 to Nov 1. The four-bedroom unit, which altered hands for $11.2 million ($3,272 psf) on Oct 27, had actually been purchased by the seller for $6.8 million ($1,987 psf) in October 2009, converting to a gain of $4.4 million, or 64.7%, more than the 13-year holding duration.

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