Resale unit at Leonie Gardens reaps $1.8 mil profit

By
/ EdgeProp Singapore
|
July 12, 2019 10:30 AM SGT
ONE SHENTON -  The 1,733 sq ft, three-bedroom unit on the 14th floor of Leonie Gardens was sold for $2.69 million on July 2
The 1,733 sq ft, three-bedroom unit on the 14th floor of Leonie Gardens was sold for $2.69 million on July 2 (Credit: Samuel Isaac Chua/Edgeprop Singapore)
The seller of a unit at Leonie Gardens made the top gain of $1.83 million over the week of June 26 to July 2. The 1,733 sq ft, three-bedroom unit on the 14th floor was bought for $860,000 ($496 psf) in July 2005 and sold for $2.69 million ($1,551 psf) on July 2. The seller made a 213% profit, or an annualised profit of 9% over 14 years.
Located in prime District 9, Leonie Gardens was completed in 1993 and comprises 138 99-year leasehold units. It is nine minutes by foot to the upcoming Great World MRT Station on the Thomson-East Coast Line, which is expected to be completed in 2021.
The second top gain made over the week – a 48% profit of $1.45 million – was at Sky@ Eleven, off Thomson Road in District 11. The 2,713 sq ft, four-bedroom unit on the 20th floor was purchased for $3 million ($1,106 psf) in August 2008 and sold for $4.45 million ($1,641 psf) on June 27. This means that the seller made an annualised profit of 4% over 11 years.
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Along Thomson Lane, Sky@Eleven comprises 273 freehold units across 43 storeys and was completed in 2010. It is a 16-minute walk to Caldecott MRT Station on the Circle Line.
A unit sold at The Trevose, off Dunearn Road in District 11, made the third most profitable transaction over the week, netting a 99% profit of $1.31 million for the seller. The 1,894 sq ft, four-bedroom unit on the fourth floor was bought in October 2003 for $1.32 million ($696 psf), and sold for $2.63 million ($1,388 psf) on June 28. The seller therefore made an annualised profit of 4% over 16 years.
The Trevose, completed in 2001, comprises 142 units on a 99-year leasehold. It is a seven-minute walk to Stevens MRT Station on the Downtown Line.
For price trends, recent transactions, other project info, check out these projects' details page: Leonie Gardens, Sky@ Eleven, The Trevose, and Caribbean at Keppel Bay
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CARIBBEAN AT KEPPEL BAY - Having sold a 1,464 sq ft, three-bedroom unit at Caribbean at Keppel Bay for $2.12 million on July 1, the seller sustained a 13% loss of $330,000
Having sold a 1,464 sq ft, three-bedroom unit at Caribbean at Keppel Bay for $2.12 million on July 1, the seller sustained a 13% loss of $330,000 (Credit: Samuel Isaac Chua/Edgeprop Singapore)
On the other hand, the greatest loss incurred over the week was from the resale of a 1,464 sq ft, three-bedroom unit at Caribbean at Keppel Bay in District 4. Having sold the property for $2.12 million ($1,448 psf) on July 1, the seller sustained a 13% loss of $330,000. The unit was purchased in May 2014 for $2.45 million ($1,674 psf). Over a holding period of five years, this translates into an annualised loss of 3%.
Caribbean at Keppel Bay is a 969-unit, 99- year leasehold project on Keppel Bay Drive. Completed in 2004, it is a 10-minute walk to HarbourFront MRT Interchange Station on the North-East Line and Circle Line.
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