Resale unit at Cairnhill Plaza reaps $1.5 mil profit

The seller of a unit at Cairnhill Plaza made the top gain of $1.5 million over the week of June 18 to 25. The 2,852 sq ft, four-bedroom unit on the 34th floor was bought for $3.5 million ($1,227 psf) in March 2007 and sold for $5 million ($1,753 psf) on June 21. The seller made a 43% profit, or an annualised profit of 3% over 12 years.
The 2,852 sq ft, four-bedroom unit on the 34th floor of Cairnhill Plaza was sold for $5 million on June 21 (Credit: Samuel Isaac Chua/ EdgeProp Singapore)
Completed in 1978, Cairnhill Plaza is a 204- unit freehold residential development on Cairnhill Road in District 9. It is a 13-minute walk to Orchard MRT Station on the North-South Line.
The second top gain made over the week – a 177% profit of $1.47 million – was at Teresa Ville, at Lower Delta Road in District 4. The 1,927 sq ft, four-bedroom unit on the 15th floor was purchased for $830,000 ($431 psf) in December 1998 and sold for $2.3 million ($1,194 psf) on June 20. This means that the seller made an annualised profit of 5% over 20.5 years.
Located along Lower Delta Road, Teresa Ville comprises 264 freehold units across 24 storeys and was completed in 1986. It is a 19-minute walk to Tiong Bahru MRT Station on the East-West Line.
A unit sold at Monterey Park Condominium, off West Coast Road in District 5, made the third most profitable transaction over the week, netting a 119% profit of $925,000 for the seller. The 1,367 sq ft, four-bedroom unit on the sixth floor was bought in November 2004 for $775,000 ($567 psf), and sold for $1.7 million ($1,244 psf) on June 20. The seller therefore made an annualised profit of 6% over 15 years.
Monterey Park Condominium, completed in 2005, comprises 280 units on a 999-year leasehold. It is a six-minute, 3km drive to Clementi MRT Station on the East-West Line.
On the other hand, the greatest loss incurred over the week was from the resale of a 3,369 sq ft, five-bedroom unit at The Berth By The Cove in District 4. Having sold the property for $3.75 million ($1,113 psf) on June 21, the seller sustained a 33%...