Resale unit at Leighwoods reaps $1.9 mil profit

By
/ EdgeProp Singapore
|
May 22, 2020 5:50 AM SGT
EDGEPROP SINGAPORE - The seller of a unit at Leighwoods made a 194% profit, or an annualised profit of 8% over almost 15 years (Credit: Samuel Isaac Chua/ The Edge Singapore)
The seller of a unit at Leighwoods made a 194% profit, or an annualised profit of 8% over almost 15 years (Credit: Samuel Isaac Chua/ The Edge Singapore)
SINGAPORE (EDGEPROP) - The seller of a unit at Leighwoods, along Mount Sinai Rise, made the top gain of $1.9 million over the week of May 5 to 12. The 2,217 sq ft unit on the second floor was bought for $980,000 ($442 psf) in September 2005 and sold for $2.89 million ($1,299 psf) on May 11. The seller therefore made a 194% profit, or an annualised profit of 8% over almost 15 years.
Located in District 10, Leighwoods was completed in 1985. The freehold development is a five-minute drive to Dover MRT Station on the East-West Line.
The second top gain made over the week — a 153% profit of $1.1 million — was at Euro-Asia Park, along Woodleigh Close. The 1,421 sq ft unit on the third floor was purchased for $720,000 ($507 psf) in May 2009 and sold for $1.82 million ($1,281 psf) on May 8. This means that the seller made an annualised profit of 9% over 11 years.
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Euro-Asia Park, in District 13, comprises 163 freehold units. It was completed in 1996 and is a nine-minute walk to Woodleigh MRT Station on the North-East Line.
EDGEPROP SINGAPORE - The greatest loss incurred over the week in review was from the resale of a 710 sq ft unit at Sky Habitat in District 20 (Credit: Albert Chua/ The Edge Singapore)
The greatest loss incurred over the week in review was from the resale of a 710 sq ft unit at Sky Habitat in District 20 (Credit: Albert Chua/ The Edge Singapore)
On the other hand, the greatest loss incurred over the week in review was from the resale of a 710 sq ft unit at Sky Habitat in District 20. Having sold the property for $1.08 million ($1,520 psf) on May 8, the seller suffered a 13% loss of $159,070. The unit was purchased in April 2012 for $1.24 million ($1,744 psf). Over a holding period of eight years, this translates into an annualised loss of 2%.
Sky Habitat, along Bishan Street 15, comprises 509 units on a 99-year leasehold. Completed in 2015, it is seven minutes by foot to Bishan Interchange Station for the North-South and Circle Lines.
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