Four-bedroom unit at Nassim 9 sold at $3.42 mil profit
Luxury development Nassim 9 saw the most profitable private non-landed resale transaction recorded during the period of Feb 4 to Feb 7.
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Luxury development Nassim 9 saw the most profitable private non-landed resale transaction recorded during the period of Feb 4 to Feb 7. The sale involved a 2,486 sq ft, four-bedroom unit located on the third floor which changed hands for $7.5 million, or $3,016 psf, on Feb 7.
According to URA caveats, the seller had previously purchased the unit for $4.12 million ($1,641 psf) in December 2005. Thus, they reaped a profit of $3.42 million, or 83.8% of their original purchase price. This translates to an annualised gain of 3.2% over 19 years.
Nassim 9 saw a 2,486 sq ft, four-bedroom unit sell for $7.5 million ($3,016 psf), reaping a profit of $3.42 million (Photo: Samuel Isaac Chua / EdgeProp Singapore)
The transaction is the third-most profitable resale transaction at Nassim 9 to date. The current record was set in March 2023 when a larger four-bedroom unit spanning 2,756 sq ft was sold for $9.5 million ($3,448 psf). It had been bought for $4.12 million ($1,495 psf) in December 2005. Hence, the seller made a profit of $5.38 million (130.6%), or an annualised gain of 5% over 17 years.
Prior to the unit sold on Feb 7, the last caveated transaction at Nassim 9 was in March 2023, when a 3,251 sq ft, four-bedroom unit was sold for $10.3 million ($3,169 psf). It generated a profit of $3.3 million.
Housing just eight units, Nassim 9 is a boutique condo located along Nassim Road in prime District 10. Completed in 2002, the four-storey development has four-bedroom units spanning between 2,756 and 3,423 sq ft.
Completed in 1983, Mount Faber Lodge is a boutique freehold development located along Mount Faber Road in District 4. (Photo: Samuel Isaac Chua / EdgeProp Singapore)
The second most profitable resale during the period in review occurred at freehold development Mount Faber Lodge, where a triplex penthouse unit was sold for $5 million ($1,350 psf) on Feb 5. The unit last changed hands in August 2001 for $1.6 million. Therefore, the seller raked in a profit of $3.4 million (212.5%), or an annualised gain of 5% over 23½ years.
The unit sold on Feb 5 is the most profitable unit transacted at Mount Faber Lodge to date. The previous record was held by a three-bedroom unit spanning 2,669 sq ft on the third floor that was sold for $3.89 million ($1,457 psf) in October 2022. The unit had been purchased for $1.3 million ($487 psf) in January 2006. Hence, the seller made a profit of $2.59 million (199.2%).
Completed in 1983, Mount Faber Lodge is a boutique freehold development located along Mount Faber Road in District 4. The 84-unit condo consists of studio units spanning 1,098 sq ft, along with two- and three-bedroom units from 1,173 to 2,454 sq ft. The development also has 20 five-bedroom triplex penthouses sized from 3,703 to 3,724 sq ft.
The 311-unit Amaryllis Ville is located along Newton Road. (Photo: Samuel Isaac Chua / EdgeProp Singapore)
The third-most profitable deal during the period in review was the sale of a three-bedroom unit at Amaryllis Ville, a 99-year leasehold condo in prime District 11. The 1,238 sq ft unit on the 28th floor was sold for $2.65 million ($2,141 psf) on Feb 5. It had last changed hands for $1.09 million ($884 psf) in June 2005. Hence, the seller made a profit of $1.56 million (142.2%), or an annualised gain of 4.6% over 19½ years.
The Feb 5 transaction was the third-most profitable unit to be sold at Amaryllis Ville. The record belongs to a 1,991 sq ft, three-bedroom unit on the 17th floor that was sold for $3.75 million ($1,885 psf) in September 2023. The unit had been bought for $1.95 million ($979 psf) in June 2009. Hence, the seller made a profit of $1.8 million (92.5%), or an annualised gain of 4.7% over 14 years.
Based on resale data tabulated by EdgeProp Singapore, resale prices at Amaryllis Ville have been steadily increasing in recent years. Based on a rolling 12-month average, the average price hit $1,897 psf in February 2023 before rising to $2,001 psf in February 2024. Last month, the average price hit $2,082 psf, a 4% y-o-y increase.
The 311-unit Amaryllis Ville is located along Newton Road. Completed in 2004, the condo houses a mix of one- and two-bedroom units from 657 to 1,378 sq ft and three-bedroom units from 958 to 2,637 sq ft. Nearby condos include the 129-unit Rochelle at Newton along Keng Lee Road and the 378-unit Kopar at Newton along Makeway Avenue.
There were no unprofitable transactions during the period in review.
Check out the latest listings for Nassim 9, Condominium properties
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