Four-bedder at Nassim 9 sold for $4.4 mil profit
The sale of a 3,423 sq ft unit at Nassim 9, a freehold project on Nassim Road in top District 10, was the best highly profitable agreement documented throughout the week of Oct 25 to Nov 1. The four-bedroom unit, that altered hands for $11.2 million ($3,272 psf) on Oct 27, had been bought by the seller for $6.8 million ($1,987 psf) in October 2009, converting to an acquire of $4.4 million, or 64.7%, over the 13-year retaining duration.
The unit sold on Oct 27 clocked the highest possible rate transacted at the development on both psf together with outright bases. Before this, the most latest transaction at Nassim 9 took place in April 2012 the moment a 3,143 sq ft unit was cost $8.8 million ($2,800 psf), which at the same time marked the recent psf- and absolute-price highs for the condominium.
Nassim 9, a boutique deluxe development finished in 2002, has just 8 units property in a four-storey structure. It lies within walking range of Orchard Boulevard MRT Terminal (on the Thomson-East Coast Line), that is due to start on Nov 13. The Botanic Gardens, Tanglin Mall as well as The Forum are additionally throughout strolling proximity.
One of the most unprofitable deal reported 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 measuring 2,379 sq ft on the 27th floor fetched $4.3 million ($1,808 psf). The dealer had actually bought the unit for $5.4 million ($2,278 psf) in May 2007. For this reason, they accumulated a decline of 20.6% or $1.1 million over a 15 1/2-year holding duration.
The Oceanfront @ Sentosa Cove is a 99-year leasehold, ultra-luxury apartment in the Sentosa Cove enclave in District 4. Situated on an island, the sea-facing condo was established by a mutual venture in between City Developments and TID (an alliance between Hong Leong Holdings plus Mitsui Fudosan) and even finished in 2010. The development includes 5 towers ranging from 13 to 15 floors tall, as well as an overall of 264 units. Unit measurements start from 1,216 sq ft for a two-bedroom condo, increasing to 8,095 sq ft for the best penthouse.
Reflections at Keppel Bay is a 1,129-unit waterfront deluxe property development by Keppel Land. The 99-year leasehold development, with 6 housing towers and also 11 accommodation flat blocks, was done in 2011.
The apartment was one of a number of resell units to be marketed below their acquisition rates in the last two years, according to details put together by the EdgeProp Investigation tool. The most unprofitable transaction at the project occurred in July 2020, when a 3,854 sq ft unit was sold for $5.85 million ($1,518 psf), with the vendor incurring a loss of $4.8 million.
The second-most profitable transaction for the week occurred at The Oceanfront @ Sentosa Cove. A duplex penthouse gauging 5,985 sq ft on the 15th level was sold for $14.3 million ($2,389 psf) on Oct 28. The seller had acquired the unit for $11.5 million ($1,922 psf) in June 2009, which implies they raked in a $2.8 million (24.3%) profit on the deal after holding the building for 13 1/2 years.
