Four-bedder at Nassim 9 sold for $4.4 mil profit
The most unprofitable deal 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 estimating 2,379 sq ft on the 27th level brought $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 incurred a loss of 20.6% or $1.1 million over a 15 1/2-year holding duration.
The unit sold off on Oct 27 clocked the highest price transacted at the development on both psf together with absolute bases. Before this, one of the most latest deal at Nassim 9 happened in April 2012 when a 3,143 sq ft unit was cost $8.8 million ($2,800 psf), which at the same time regarded the recent psf- and absolute-price highs for the apartment.
Nassim 9, a store high-end project completed in 2002, has just 8 units housed in a four-storey establishment. It rises within walking range of Orchard Blvd MRT Station (on the Thomson-East Coast Line), which is due to launch on Nov 13. The Botanic Gardens, Tanglin Shopping Center as well as The Forum are additionally in just walking proximity.
The sale of a 3,423 sq ft unit at Nassim 9, a real estate project on Nassim Street in prime Community 10, was the most highly profitable agreement recorded throughout 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 seller for $6.8 million ($1,987 psf) in October 2009, converting to an achieve of $4.4 million, or 64.7%, over the 13-year holding period.
The apartment was just one of a number of resell units to be sold underneath their acquisition costs in the last 2 years, according to information collected by the EdgeProp Investigation resource. The most unlucrative sale at the development happened in July 2020, when a 3,854 sq ft unit was sold for $5.85 million ($1,518 psf), with the seller sustaining a loss of $4.8 million.
The second-most profitable deal for the week took place at The Oceanfront @ Sentosa Cove. A duplex penthouse gauging 5,985 sq ft on the 15th level was marketed for $14.3 million ($2,389 psf) on Oct 28. The owner had actually bought the unit for $11.5 million ($1,922 psf) in June 2009, which means they generated a $2.8 million (24.3%) profit on the transaction after holding the real estate for 13 1/2 years.
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 condominium was developed by a joint venture in between City Developments as well as TID (a collaboration in between Hong Leong Holdings together with Mitsui Fudosan) and even finished in 2010. The property includes 5 towers ranging from 13 to 15 floors tall, as well as an overall of 264 units. Unit sizes start from 1,216 sq ft for a two-bedroom condo, rising to 8,095 sq ft for the largest penthouse.
Reflections at Keppel Bay is a 1,129-unit waterfront deluxe property development by Keppel Land. The 99-year leasehold structure, with six non commercial towers and 11 villa flat blocks, was finished in 2011.