Resale unit at Caribbean At Keppel Bay reaps $2.4 mil profit
By Charlene Chin
/ EdgeProp Singapore |
SINGAPORE (EDGEPROP) - The sale of a unit at Caribbean at Keppel Bay, on Keppel Bay Drive, made the top gain of $2.4 million over the week of Dec 3 to 10. The 2,723 sq ft unit on the first floor was bought for $2.35 million ($864 psf) in October 2000 and sold for $4.75 million ($1,744 psf) on Dec 4. The seller therefore made a 102% profit, or an annualised profit of 4% over about 19 years.
Located in District 4, Caribbean at Keppel Bay was completed in 2004 and comprises 969 units on a 99-year leasehold. It is a 10-minute walk to Harbourfront MRT Interchange Station on the North East and Circle Lines.
The second top gain made over the week – a 101% profit of $1.39 million – was at Richmond Park, on Bideford Road. The 1,012 sq ft unit on the 23rd floor was purchased for $1.37 million ($1,349 psf) in April 2006 and sold for $2.75 million ($2,718 psf) on Dec 6. This means that the seller made an annualised profit of 5% over about 14 years.
The second top gain made over the week – a 101% profit of $1.39 million – was at Richmond Park, on Bideford Road (Credit: Samuel Isaac Chua/ The Edge Singapore)
Richmond Park, in District 9, comprises 159 freehold units. It was completed in 1996 and is a 12-minute walk to Orchard MRT Station on the North-South Line.
A unit sold at Park Infinia at Wee Nam, along Lincoln Road in District 11, made the third largest gain over the week, netting a 151% profit of $1.3 million for the seller. The 1,001 sq ft unit on the 12th floor was bought in May 2006 for $860,000 ($859 psf), and sold for $2.16 million ($2,156 psf) on Dec 9. The seller therefore made an annualised profit of 7% over about 14 years.
Park Infinia at Wee Nam, completed in 2008, comprises 486 freehold units. It is 10 minutes by foot to Newton MRT Interchange Station on the North-South and Downtown Lines.
On the other hand, the greatest loss incurred over the week was from the resale of a 1,410 sq ft unit at Buckley Classique in District 11. Having sold the property for $2.6 million ($1,844 psf) on Dec 5, the seller suffered a 12% loss of $341,500. The unit was purchased in September 2011 for $2.94 million ($2,086 psf). Over a holding period of eight years, this translates into an annualised loss of 1%.
Buckley Classique is a 64-unit, freehold project along Buckley Road. Completed in 2014, it is an eight-minute walk to Novena MRT Station on the North-South Line.
For price trends, recent transactions, other project info, check out these projects' research page: Caribbean at Keppel Bay, Richmond Park, Park Infinia at Wee Nam, Buckley Classique
Read also:
Check out the latest listings near Caribbean at Keppel Bay, Richmond Park, Park Infinia at Wee Nam, Buckley Classique, MRT Stations and Schools
Follow Us
Follow our channels to receive property news updates 24/7 round the clock.
EdgeProp Telegram
EdgeProp FacebookSubscribe to our newsletter
Top Articles
Search Articles