Botanic Gardens View unit reaps $3.03 mil profit

/ EdgeProp
November 4, 2018 7:00 AM SGT
The sale of the 1,615 sq ft unit raked in the highest profit at Botanic Gardens View (Credit: Samuel Isaac Chua/ The Edge Singapore)
A unit sold at Botanic Gardens View raked in the top profit of $3.03 million over the week of Oct 16 to 23. This is also the highest profit made from resales at the development.
The 1,615 sq ft unit on the first floor was purchased for $930,000 ($530 psf) in September 2001, and sold for $3.96 million ($2,453 psf) on Oct 16. The seller reaped a 326% profit, or an annualised profit of 9%, after holding on to the unit for 17.1 years.
Botanic Gardens View, at Taman Serasi, is off Cluny Road in prime District 10. It is situated near reputable schools such as Raffles Girls’ Secondary School and Crescent Girls’ School.
A resale at Crystal Court, on River Valley Road, netted a gain of $1.145 million (Credit: Samuel Isaac Chua/ The Edge Singapore)
Meanwhile, the second top gain — a 99% profit of $1.145 million — for the week in review was at Crystal Court on River Valley Road, a 15-minute walk from Tiong Bahru MRT station. The seller bought the 2,562 sq ft, three bedroom unit on the fourth floor for $1.155 million ($451 psf) in May 2002, and sold it for $2.3 million ($898 psf) on Oct 17. Over 16.4 years, he made a 4% annualised profit.
The third most profitable transaction for the week in review occurred at Toh Tuck Lodge, raking in a 162% profit of $1.1 million. The 2,454 sq ft unit on the fifth floor was bought for $680,000 ($277 psf) in January 2012, and sold for $1.78 million ($725 psf) on Oct 22. After 6.8 years, the seller pocketed an annualised profit of 15%. The development, on Toh Tuck Road, is a 12-minute walk from Beauty World MRT station.
On the other hand, the top loss was from a resale transaction at Cityscape @ Farrer Park, on Mergui Road in District 8. The seller incurred a 7% loss of $136,500, after selling the 1,378 sq ft, three-bedroom unit for $1.78 million ($1,292 psf) on Oct 16. The unit on the 14th floor was bought for $1.92 million ($1,391 psf) in June 2013. This means that, over 5.3 years, the seller sustained an annualised loss of 1%. The development is a 10-minute walk from Farrer Park MRT station.