Six private non-landed houses were each sold for more than $1 million in profit in the week of April 11 to 18. On April 11, a 2,713 sq ft unit at Warner Court in prime District 10 fetched the week’s biggest profit of $2.1 million. The seller, who bought it for $1.39 million ($512 psf) in July 2003, sold it for $3.5 million ($1,292 psf). The profit works out to 152%, or 7% a year over 14 years.
Based on the matching of URA caveat data, the unit previously changed hands at a $420,000 loss in 2003. The previous seller bought it for $1.81 million ($667 psf) in September 1996. The freehold Warner Court is located opposite Holland Road Shopping Centre. It has 36 units and was completed in 1985.
A 2,713 sq ft unit at Warner Court fetched a $2.1 million profit on April 11. Find the most affordable listing in the project here
A 2,540 sq ft unit at Leonie Gardens in prime District 9 fetched the second-biggest profit of $1.68 million for the week of April 11 to 18. The unit was bought at $1.4 million ($551 psf) in February 1999 and sold at $3.08 million ($1,212 psf) on April 13. The profit works out to 120%, or 4% a year over 18 years.
There were four rental contracts for units ranging from 2,500 to 2,600 sq ft at Leonie Gardens in 1Q2017, with the monthly rent ranging from $6,000 to $7,500. The leasehold Leonie Gardens is located within walking distance of the upcoming Great World MRT station. It has 138 units and was completed in 1993.
A 1,841 sq ft unit at Balmoral Hills in prime District 10 fetched a $1.39 million profit on April 11. It was the third-biggest profit of the week. The seller had bought the unit from the developer at $2.32 million ($1,260 psf) in March 2006 and sold it at $3.7 million ($2,015 psf). The profit works out to 60%, or 4% a year over 11 years.
There was one rental contract for units ranging from 1,800 to 1,900 sq ft at Balmoral Hills in 1Q2017, with a monthly rent of $7,150. The freehold Balmoral Hills has 62 units and was completed in 2008.
On April 13, a 1,335 sq ft unit at Park Infinia at Wee Nam fetched the week’s fourth-biggest profit of $1.24 million. The seller had bought it from the developer at $1.1 million ($829 psf) in November 2005 and sold it at $2.35 million ($1,761 psf). The profit works out to 112%, or 7% a year over 11 years.
There was one rental contract for units ranging from 1,300 to 1,400 sq ft at Park Infinia at Wee Nam in 1Q2017, with a monthly rent of $7,500. Park Infinia, a freehold condominium with 486 units, was completed in 2008.
The other two transactions in the week that fetched million-dollar profits involved units at Nineteen Shelford Road in District 11 and Charming Garden in District 10.
The Belvedere is a freehold condo near the upcoming Katong Park MRT station. Find the most affordable listing in the project here
The biggest loss of $1.2 million for the week of April 11 to 18 involved a 2,583 sq ft unit at The Belvedere in District 15. The seller had bought the unit for $4.37 million ($1,692 psf) on April 11, 2013 and sold it for $3.17 million ($1,226 psf) on April 13. The loss works out to 28%, or 8% a year over four years. The seller would have been liable to pay a 4% Seller’s Stamp Duty, or $126,720, if he had sold the unit just two days earlier.
Based on the matching of URA caveat records, the unit previously changed hands at a $2.65 million profit in 2013. The previous seller had bought it from the developer for $1.72 million ($712 psf) in June 2005. The Belvedere is a freehold condo located near the upcoming Katong Park MRT station. It has 167 units and was completed in 2007.