Four-bedder at Nassim 9 sold for $4.4 mil profit
Nassim 9, a shop high-end development finalized in 2002, has just 8 units property in a four-storey establishment. It rises within walking range of Orchard Boulevard MRT Station (on the Thomson-East Coast Line), which is due to open on Nov 13. The Botanic Gardens, Tanglin Shopping Center and The Forum are additionally throughout strolling distance.
The second-most successful transaction for the week occurred at The Oceanfront @ Sentosa Cove. A paired penthouse determining 5,985 sq ft on the 15th floor was reselled for $14.3 million ($2,389 psf) on Oct 28. The owner had actually acquired the unit for $11.5 million ($1,922 psf) in June 2009, which implies they raked in a $2.8 million (24.3%) revenue on the proceeding after holding the building for 13 1/2 years.
The most unlucrative transaction documented 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 floor obtained $4.3 million ($1,808 psf). The seller had acquired the unit for $5.4 million ($2,278 psf) in May 2007. Therefore, they acquired a loss of 20.6% or $1.1 million over a 15 1/2-year holding period.
Reflections at Keppel Bay is a 1,129-unit waterfront luxury development by Keppel Land. The 99-year leasehold project, with 6 non commercial towers and 11 accommodation residence blocks, was completed in 2011.
The sale of a 3,423 sq ft unit at Nassim 9, an estate development on Nassim Street in prime Area 10, was the most highly profitable purchase documented during the week of Oct 25 to Nov 1. The four-bedroom unit, which changed hands for $11.2 million ($3,272 psf) on Oct 27, had recently been bought by the owner for $6.8 million ($1,987 psf) in October 2009, equating to an achieve of $4.4 million, or 64.7%, over the 13-year holding duration.
The unit sold on Oct 27 clocked the highest cost negotiated at the property development on both psf and outright bases. Prior to this, one of the most current transaction at Nassim 9 occurred in April 2012 the moment a 3,143 sq ft unit was cost $8.8 million ($2,800 psf), which additionally regarded the previous psf- and absolute-price highs for the condo.
The Oceanfront @ Sentosa Cove is a 99-year leasehold, ultra-luxury condominium in the Sentosa Cove territory in District 4. Situated on an islet, the sea-facing condominium was built by a mutual endeavor between City Developments and also TID (a partnership between Hong Leong Holdings and Mitsui Fudosan) and completed in 2010. The property includes five towers varying from 13 to 15 storeys tall, and an overall of 264 units. Unit measurements begin with 1,216 sq ft for a two-bedroom apartment, increasing to 8,095 sq ft for the biggest penthouse.
The apartment was one of a number of resell units to be offered below their purchase prices in the last 2 years, according to data collected by the EdgeProp Research tool. The most unlucrative sale at the project took place in July 2020, when a 3,854 sq ft unit was realized $5.85 million ($1,518 psf), with the vendor incurring a loss of $4.8 million.
