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 prime Community 10, was one of the most highly profitable purchase reported throughout the week of Oct 25 to Nov 1. The four-bedroom unit, which transformed 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 an achieve of $4.4 million, or 64.7%, throughout the 13-year holding duration.
The unit sold off on Oct 27 clocked the greatest cost worked out at the property on both psf together with absolute bases. Before this, the most latest 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 recent psf- and absolute-price highs for the condo.
The second-most lucrative deal for the week took place at The Oceanfront @ Sentosa Cove. A double penthouse gauging 5,985 sq ft on the 15th level was marketed for $14.3 million ($2,389 psf) on Oct 28. The seller had actually acquired the unit for $11.5 million ($1,922 psf) in June 2009, which means they brought in a $2.8 million (24.3%) profit on the deal after holding the building for 13 1/2 years.
One of the most unlucrative purchase recorded for the week was the revenue of a unit at Reflections at Keppel Bay, found 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 dealer had purchased the unit for $5.4 million ($2,278 psf) in May 2007. For this reason, they acquired a decline of 20.6% or $1.1 million over a 15 1/2-year keeping period.
The Oceanfront @ Sentosa Cove is a 99-year leasehold, ultra-luxury condo in the Sentosa Cove enclave in District 4. Found on an islet, the sea-facing condo was built by a joint endeavor in between City Developments and TID (a partnership in between Hong Leong Holdings and Mitsui Fudosan) and completed in 2010. The development consists of 5 towers ranging from 13 to 15 storeys high, and an overall of 264 units. Unit measurements start from 1,216 sq ft for a two-bedroom flat, increasing to 8,095 sq ft for the best penthouse.
The apartment was just one of numerous resale units to be offered underneath their acquisition prices in the last two years, according to information compiled by the EdgeProp Research study resource. The most unprofitable sale at the property development happened in July 2020, when a 3,854 sq ft unit was realized $5.85 million ($1,518 psf), with the seller incurring a loss of $4.8 million.
Nassim 9, a boutique luxury project finished in 2002, has just 8 units property in a four-storey structure. It lies within strolling distance of Orchard Boulevard MRT Station (on the Thomson-East Coast Line), that is due to launch on Nov 13. The Botanic Gardens, Tanglin Mall as well as The Forum are likewise in just strolling distance.
Reflections at Keppel Bay is a 1,129-unit beachfront luxury property development by Keppel Land. The 99-year leasehold development, with six residential towers and 11 accommodation apartment blocks, was completed in 2011.