SINGAPORE (EDGEPROP) - The sale of a 2,002 sq ft unit at Helios Residences was the most unprofitable transaction during the week of May 18 to 25. The four-bedroom unit on the 17th floor was sold for $4.5 million ($2,248 psf) on May 25, but had been purchased for $7.11 million ($3,552 psf) in April 2012. The seller therefore made a loss of $2.61 million (37%), which translates to an annualised loss of 4.9% over nine years. (See: Triplex penthouse at Helios Residences for sale at $9.8 mil)
Helios Residences is a freehold development located on Cairnhill Circle in prime District 9. The 140-unit condominium, which was developed by Wing Tai Holdings, was completed in 2011. It comprises a mix of two- to four-bedroom units. (See: Discover insightful data of any Singapore condominium with our condo directory)
The latest Helios Residences transaction is also the third most unprofitable resale deal there so far. The record loss was for a 4,629 sq ft unit on the 19th floor that was sold for $8.4 million ($1,815 psf) on Nov 5 last year. It was purchased for $14.5 million ($3,133 psf) in May 2014. This means that the seller made a record $6.1 million (42%) loss, which is an annualised loss of 8% over 6½ years.
Another 2,002 sq ft unit on the eighth floor sold for $4.3 million ($2,148 psf) in May 2017, but had been purchased for $7 million ($3,552 psf) in July 2012. The seller therefore suffered a loss of $2.7 million (39%), or an annualised loss of 9% over close to five years.
At the other end of the spectrum, the most profitable deal of the week occurred at Villa Azura, a freehold development on Cherry Avenue in prime District 10. A 1,604 sq ft, two-bedroom unit at the development was sold for $2.46 million ($1,531 psf) on May 18. It was purchased for $992,876 ($619 psf) in June 1998. The seller therefore made a profit of $1.46 million (146%), or an annualised profit of 4% over nearly 23 years.
Villa Azura is a 53-unit condominium that was completed in 1999 by Far East Organization. The development comprises two 4-storey residential blocks with two- to four-bedroom units.
The most recent transaction at Villa Azura is the most profitable deal recorded at the development so far. In December 2017, a 1,356 sq ft unit was sold for $1.82 million ($1,342 psf). It was purchased for $911,232 ($672 psf) in January 2009. The seller thus made a profit of $908,768 (99%), or an annualised profit of 8% over nine years.
The second most profitable transaction of the week was the sale of a 3,843 sq ft townhouse at Paterson Residence. It was sold for $7.1 million ($1,848 psf) on May 18, and had been purchased for $5.99 million ($1,561 psf) in November 2009. This means that the seller made a profit of $1.1 million (18%), or an annualised profit of 1.5% over 11½ years.
Paterson Residence is a freehold development on Paterson Road in prime District 9, and was completed in 2008 by GuocoLand. It has six strata-titled townhouses as well as 110 apartment units that are in a single 50-storey block. The three-storey townhouses are a mix of terraces and semi-detached houses, and the condo units are a mix of one- to four-bedroom units and four-bedroom penthouses.
The recent transaction is the fourth townhouse resale at Paterson Residence. In May 2018, a neighbouring 4,058 sq ft townhouse was sold for $6.35 million ($1,565 psf). It was purchased for $6.39 million ($1,577 psf) in February 2010. This means a $50,000 loss for the seller.
However, the most profitable townhouse sale at Paterson Residence was for a 3,972 sq ft unit that fetched $8.8 million ($2,216 psf) in February 2012. The unit was purchased for $6.49 million ($1,636 psf) in February 2010. The seller therefore made a profit of $2.3 million (35%), or an annualised profit of 16% over only two years.
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