SINGAPORE (EDGEPROP) - The seller of a unit at Tanglin Residences, located on 31 St Martin’s Drive, made the top gain of $2.99 million over the week of Nov 23 to 30. The 4,930 sq ft unit on an undisclosed floor was bought for $5.17 million ($1,049 psf) in June 2006, and sold for $8.16 million ($1,656 psf) on Nov 26. The seller therefore made a 58% profit, or an annualised profit of 3% over 15½ years.
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Located in District 10, Tanglin Residences was completed in 2005 and comprises 43 freehold units. It is a nine-minute walk from the upcoming Orchard Boulevard MRT Station on the Thomson-East Coast Line.
The second top gain made over the week — a 201% profit of $1.74 million — was at Kew Green, located on Kew Crescent. The 2,992 sq ft unit on an undisclosed floor was purchased for $865,000 ($289 psf) in January 1999, and sold for $2.6 million ($869 psf) on Nov 25. This means that the seller made an annualised profit of 5% over almost 23 years.
Kew Green, located in District 16, comprises 111 units on a 99-year leasehold. Completed in 1997, it is situated opposite the upcoming Bedok South MRT Station on the Thomson-East Coast Line.
Meanwhile, a unit sold at The Linc — located along Lincoln Road in District 11 — made the third largest gain over the week, netting a 150% profit of $1.56 million. The 1,292 sq ft unit on the 16th floor was bought for $1.04 million ($805 psf) in October 2003, and sold for $2.6 million ($2,013 psf) on Nov 25. The seller therefore made an annualised profit of 5% over 18 years.
The Linc comprises 51 freehold units and was completed in 2006. It is a 10-minute walk from Newton MRT Interchange Station on the North-South and Downtown Lines.
On the other hand, the most unprofitable deal of the week was the resale of a 4,112 sq ft unit at Shelford Suites in District 11. Having sold the property for $3.85 million ($936 psf) on Nov 29, the seller made a 13% loss of $578,000. The unit was purchased in March 2010 for $4.43 million ($1,077 psf). Over a holding period of almost 12 years, this translates into an annualised loss of 1%.
Shelford Suites, located along Shelford Road off Dunearn Road, comprises 77 freehold units and was completed in 2011. It is a four-minute drive from Botanic Gardens MRT Interchange Station on the Downtown and Circle Lines.
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