Resale unit at Highgate reaps $1.27 mil profit

SINGAPORE (EDGEPROP) - The seller of a unit at Highgate made the top gain of $1.27 million over the week of Oct 22 to 29. The 1,905 sq ft unit on the sixth floor was bought for $1.15 million ($604 psf) in June 2009, and sold for $2.42 million ($1,270 psf) on Oct 24. The seller made a 110% profit, or an annualised profit of 7% over around 10 years.

Located at Highgate Crescent in District 21, the freehold Highgate was developed by Lum Chang Properties. Completed in 1995, Highgate comprises 216 units in five blocks. It is a four-minute drive to Beauty World Plaza and Beauty World Centre.

The second top gain made over the week – a 171% profit of $1.23 million – was at Bedok Court, located along Bedok South Avenue 3 in District 16. The 2,271 sq ft unit on the ninth floor was purchased for $720,000 ($317 psf) in June 1999, and sold for $1.95 million ($859 psf) on Oct 23. This means that the seller made an annualised profit of 5% over around 20 years.

Completed in 1985, the 99-year leasehold Bedok Court has 62 years left on its lease. The development has a total of 280 units over 19 floors, and was developed by Bedokville Development. It is a 10-minute walk to Tanah Merah MRT Station on the East-West Line, a four-minute walk to Bedok View Secondary School, an eight-minute walk to Temasek Primary School, and a 13-minute walk to Temasek Secondary School.

Meanwhile, another seller of a fifth-floor unit at Highgate made the third most profitable transaction for the week with a $1.18 million profit. The 1,636 sq ft, four-bedroom unit was bought for $870,000 ($532 psf) in January 1999, and sold for $2.045 million ($1,250 psf) on Oct 25. The seller made a 135% profit, or an annualised profit of 4% over almost 21 years.

On the other hand, the greatest loss incurred over the week was from the resale of a 2,013 sq ft unit at 8 Napier, in prime District 10. The seller sold the unit for $5.8 million...