EDGEPROP (SINGAPORE) - The transaction of a four-bedroom apartment at Beverly Hill clocked the largest price gain for the week of July 26 to Aug 3. The 3,778 sq ft unit changed hands on July 28 for $8.9 million (or $2,367 psf), based on caveats lodged. The 18th-floor unit at the freehold condominium was previously purchased at $6.1 million (or $1,615 psf) in June 2016. Thus, the owner reaped a capital gain of $2.8 million, or 47%, after a holding period of only six years.
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The apartment at Beverly Hill changed hands on July 28 for $8.9 million (or $2,367 psf) (Credit: Samuel Isaac Chua / The Edge Singapore)
Located on Grange Road in District 10, the boutique condominium was built in 1983 with a total of 88 units. The Orchard Boulevard MRT Station on the Thomson-East Coast Line, slated to be operational by late this year, is located within a five-minute walk from the development. Across the road is the One Tree Hill enclave, with private residences such as the Orchard Bel Air, which was recently put up for collective sale, and One Tree Hill Residence. Other amenities include the Zion Food Centre and Great World City.
The second most profitable deal of the week occurred at One Amber. Completed in 2010, the freehold condominium is located at Amber Gardens in the Marine Parade area and has a total of 562 units. The closest MRT station — Tanjong Katong MRT station on the East-West Line — and East Coast Park are a few minutes’ walk away.
An 1,572 sq ft, three-bedroom unit at One Amber was sold on July 29 at a $1.9 million profit (Credit: Samuel Isaac Chua / The Edge Singapore)
Popular with locals and expatriates, several schools are located in the area, including the Canadian International School (Tanjong Katong Campus), Etonhouse International School (Broadrick), Tanjong Katong Primary and Secondary School, Tanjong Katong Girls’ School and Chung Cheng High School.
The 1,572 sq ft, three-bedroom unit was sold on July 29 for $3.2 million (or $2,017 psf). It had previously changed hands for $1.3 million (or $799 psf) in June 2006, translating to a gain of $1.9 million or an annualised profit of 6% over 16 years.
Meanwhile, the most unprofitable transaction was for a 1,668 sq ft, three-bedroom apartment at Helios Residences. Developed by Wing Tai Holdings, the freehold development was completed in 2011 with a total of 140 units. Located in the Cairnhill enclave in District 9, it is in the vicinity of the Orchard Road shopping belt. Newton MRT Station and Somerset MRT Station are located minutes away on the North-South Line. Mount Elizabeth Hospital, the newly opened Quincy Hotel and York Hotel are at the doorsteps of Helios Residences.
The ninth-floor apartment at Helios Residences was sold for $3.7 million (or 2,218 psf) on July 28. It was previously purchased for $4.9 million (or $2,948 psf) in July 2011, marking a loss of $1.2 million (or 25%) over 11 years.
The second most unprofitable deal took place at Reflections at Keppel Bay. Developed by Keppel Land, the 99-year leasehold luxury condominium was completed in 2011. Designed by internationally acclaimed architect, David Libeskind, the development is known for the curved mirrored facade of its six towers.
A three-bedroom villa unit on the first floor of Reflections at Keppel Bay recorded a loss of $0.5 million, or 22% (Credit: Samuel Isaac Chua / The Edge Singapore)
The transaction took place for a three-bedroom, first-floor unit of the waterfront villas, measuring 1,281 sq ft. It was sold for $1.9 million (or $1,468 psf) on July 26. The unit was last purchased for $2.4 million (or $1,892 psf). This translates to a loss of $0.5 million, or 22%.
Check out the latest listings near Beverly Hill, Orchard Bel Air, One Tree Hill Residence, One Amber, Helios Residences, Reflections at Keppel Bay, Orchard Boulevard MRT Station, Newton MRT Station, Somerset MRT Station, Etonhouse International School (Broadrick), Tanjong Katong Primary and Secondary School, Tanjong Katong Girls’ School, Chung Cheng High School