Resale unit at Balmoral Plaza reaps $1.82 mil profit
By Bong Xin Ying
/ EdgeProp Singapore |
SINGAPORE (EDGEPROP) - At Balmoral Plaza, the seller of a unit made the top gain of $1.82 million over the week of Aug 13 to 20. The 2,379 sq ft unit on the third floor was bought for $1.28 million ($538 psf) in October 1999 and sold for $3.1 million ($1,303 psf) on Aug 20. The seller made a 142% profit, or an annualised profit of 5% over almost 20 years.
The 2,379 sq ft unit at Balmoral Plaza was sold for $3.1 million on Aug 20, marking the biggest gain of the week (Credit: Samuel Isaac Chua/ EdgeProp Singapore)
Located on Bukit Timah Road in prime District 10, the freehold Balmoral Plaza was developed by Balmoral Plaza Pte Ltd, a joint venture between Lim Kah Ngam Ltd and Pacific Holdings. Completed in 1994, Balmoral Plaza is near prestigious schools such as Raffles Girls’ School and Anglo-Chinese School (Barker Road).
The second top gain made over the week – a 187% profit of $1.76 million – was at Botanic Gardens Mansion, off Napier Road in prime District 10. The 1,399 sq ft, ground-floor unit was purchased for $940,000 ($672 psf) in October 1999 and sold for $2.7 million ($1,930 psf) on Aug 14. This means the seller made an annualised profit of 5% over nearly 20 years.
The freehold Botanic Gardens Mansion is a three-minute walk from Napier MRT Station on the Thomson-East Coast Line and a six-minute drive from the Orchard Road shopping belt. Raffles Girls’ School is also a six-minute drive away.
At Cote D’Azur, the seller of a ground-floor unit made the third most profitable transaction of $1.26 million over the week. The 2,013 sq ft, four-bedroom unit was bought for $992,670 ($493 psf) in July 2002, and sold for $2.25 million ($1,118 psf) on Aug 16. The seller made a 127% profit, or an annualised profit of 5% over some 17 years.
Located in District 15, along Marine Parade Road, the 99-year leasehold Cote D’Azur was completed in 2004. Developed by Frasers Property, it comprises 612 units. Located next to the Parkway Parade shopping centre, the development is a three-minute walk from the upcoming Marine Parade MRT Station on the Thomson-East Coast Line.
On the other hand, the greatest loss incurred over the week was from the resale of a 2,896 sq ft unit at The Coast at Sentosa Cove. It is located on Ocean Drive, on Sentosa Island, in District 4. The seller sold the seventh-floor unit for $4.75 million ($1,640 psf) on Aug 14, sustaining a 22% loss of $1.33 million. The unit was purchased in November 2009 for $6.08 million ($2,100 psf). Over a holding period of almost 10 years, this translates into an annualised loss of 3%.
For price trends, recent transactions, other project info, check out these projects' research page: Balmoral Plaza, Botanic Gardens Mansion, Cote D'Azur, The Coast at Sentosa Cove
A 2,896 sq ft unit at The Coast at Sentosa Cove was sold for $4.75 million on Aug 14 and incurred the greatest loss of the week (Credit: Samuel Isaac Chua/ EdgeProp Singapore)
The 99-year leasehold The Coast at Sentosa Cove comprises 249 units, and is a five-minute drive to Quayside Isle, Sentosa Cove’s first waterfront retail and dining destination. Tanjong Golf Course is a seven-minute drive away, while Resorts World Sentosa is a 12-minute drive away. Developed by Ho Bee Land, The Coast at Sentosa Cove was completed in 2009.
Check out the latest listings near Balmoral Plaza, Botanic Gardens Mansion, Cote D'Azur, The Coast at Sentosa Cove, MRT Stations and Schools
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