Seven private non-landed houses were sold for a profit of more than $1 million each in the week of April 18 to 25. On April 21, a 7,653 sq ft unit at The Balmoral in prime District 10 was sold at a $5.4 million profit. The seller had bought the first-floor unit for $5.2 million ($679 psf) in August 1997 and sold it at $10.6 million ($1,385 psf). The profit works out to 104%, or 4% a year over 20 years.
Based on the matching of URA caveat data for The Balmoral, there have been 18 profitable transactions, with an average profit of $1.76 million (79%), and seven unprofitable transactions, with an average loss of $536,714 (16%).
A 7,653 sq ft unit at The Balmoral in prime District 10 was sold at a $5.4 million profit on April 21
A 7,642 sq ft unit that was bought for $4.7 million ($615 psf) in September 1995 and sold at $12 million ($1,570 psf) in September 2013 earned a profit of $7.3 million, the highest at The Balmoral. The profit works out to 155%, or 5% a year over 18 years. The 81-unit The Balmoral is a freehold condominium completed in 1986 and is located within 600m of the Stevens MRT station.
A 2,885 sq ft unit at Ardmore Park in prime District 10 fetched the second-biggest profit of $2.45 million for the week of April 18 to 25. The unit was bought for $7.25 million ($2,513 psf) in June 2009 and sold at $9.7 million ($3,363 psf) on April 18. The profit works out to 34%, or 4% a year over eight years. Based on the matching of URA caveat data, the unit has changed hands thrice. The first seller had bought it from the developer for $5.76 million ($1,991 psf) in 1996 and sold it at $5 million ($1,733 psf) in 2003, a 13% loss, or 2% a year. In 2009, the next seller made a profit of $2.25 million when he sold the unit at $7.25 million. The profit works out to 45%, or 7% a year over 5½ years.
Based on the matching of URA caveat data, there have been four profitable transactions and one unprofitable transaction at Ardmore Park so far this year. The profits range from $2.45 million (34%) to $4.6 million (94%). The unit that was sold at a $70,000 (1%) loss was bought for $8.25 million ($2,860 psf) in June 2011 and sold at $8.18 million ($2,836 psf) on April 5. The freehold Ardmore Park was completed in 2001 and has 330 units.
Two sellers suffered losses of more than $1 million each in the week of April 18 to 25. On April 21, a 2,756 sq ft unit at Duchess Residences in prime District 10 was sold at the biggest loss of $1.41 million for the week. The seller had bought it for $5.01 million ($1,826 psf) from the developer in June 2007 and sold it at $3.6 million ($1,306 psf). The loss works out to 28%, or 3% a year over 10 years.
There were six rental contracts for units ranging from 2,700 to 2,800 sq ft at Duchess Residences in 2H2016, with the monthly rent averaging $8,350. This implies a 3% gross rental yield for the recently transacted unit. The 120-unit Duchess Residences is a 999-leasehold condo completed in 2011 and adjacent to Hwa Chong Institution.
A 1,249 sq ft unit at Scotts Square in prime District 9 was sold at the second-biggest loss of $1.23 million for the week. The seller had bought it for $5.03 million ($4,026 psf) from the developer in October 2007 and sold it at $3.8 million ($3,043 psf) on April 24. The loss works out to 24%, or 3% a year over 9½ years.