Resale unit at Montview reaps $969,400 profit
By Charlene Chin / EdgeProp Singapore | April 29, 2020 6:09 AM SGT
SINGAPORE (EDGEPROP) - The seller of a unit at Montview, along Mount Sinai Drive, made the top gain of $969,400 over the period from April 14 to 19. The 1,227 sq ft unit on the eighth floor was bought for $930,600 ($758 psf) in August 2005 and sold for $1.9 million ($1,548 psf) on April 16. The seller therefore made a 104% profit, or an annualised profit of 5% over almost 15 years.
Located in District 10, Montview was completed in 2008 and comprises 115 freehold units. It is a five-minute drive to Dover MRT Station on the East-West Line.
The second top gain made over the week — a 26% profit of $700,000 — was at Scotts Square, along Scotts Road. The 947 sq ft unit on the 27th floor was purchased for $2.7 million ($2,850 psf) in March 2017 and sold for $3.4 million ($3,589 psf) on April 17. This means that the seller made an annualised profit of 8% over three years.
Scotts Square, in District 9, comprises 338 freehold units. It was completed in 2011 and is a seven-minute walk to Orchard MRT Station on the North-South Line.
A unit sold at Blue Horizon, along West Coast Crescent in District 5, made the third largest gain over the week, netting a 79% profit of $542,930 for the seller. The 1,152 sq ft unit on the 17th floor was bought in January 2006 for $687,070 ($597 psf), and sold for $1.23 million ($1,068 psf) on April 16. The seller therefore made an annualised profit of 4% over 14 years.
Blue Horizon, completed in 2005, comprises 616 units on a 99-year leasehold. It is a five-minute drive to the Clementi MRT Station on the East-West Line.
The fourth top gain incurred over the week was from the resale of a 1,894 sq ft unit at Pebble Bay in District 15. Having sold the property for $2.84 million ($1,498 psf) on April 16, the seller reaped a 23% profit of $538,000. The unit was purchased in July 2007 for $2.3 million ($1,214 psf). Over a holding period of almost 13 years, this translates into an annualised profit of 2%.
Pebble Bay, along Tanjong Rhu Road, comprises 510 units on a 99-year leasehold. Completed in 1997, it is one minute by foot to the upcoming Tanjong Rhu MRT Station on the Thomson-East Coast Line, slated for opening in 2023.
Check out the latest listings near Montview, Scotts Square, Blue Horizon, Pebble Bay, MRT Stations and Schools
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