Resale unit at The Nexus reaps $1.22 mil profit

The seller of a unit at The Nexus made the top gain of $1.22 million over the week of July 16 to 23. The 1,485 sq ft unit on the third floor was bought for $1.38 million ($926 psf) in February 2007, and sold for close to $2.60 million ($1,747 psf) on July 19. The seller made an 89% profit, or an annualised profit of 5% over 12½ years.
The top gain of the week was made by a 1,485 sq ft unit at The Nexus (Credit: Samuel Isaac Chua/ EdgeProp Singapore)
Located at Bukit Timah Road in District 21, The Nexus was developed by Orwin Development, a subsidiary of Far East Organization. Completed in 2006, the freehold development comprises 242 units in six 10-storey blocks. The units range from 592 sq ft one-bedders, to 1,572 sq ft four-bedders. Bukit Timah Plaza, Beauty World Plaza, and Beauty World Centre are all a three-minute drive from the development. It is also near reputable schools. Swiss School Singapore is a six-minute drive away, while Methodist Girls’ School is a 10-minute drive away.
The second top gain made over the week – a 43% profit of $1.18 million – was at Casa Cairnhill, located at Peck Hay Road in prime District 9. The 2,669 sq ft unit on the third floor was purchased for $2.73 million ($1,021 psf) in April 1996 and sold for $3.9 million ($1,461 psf) on July 22. This means that the seller made an annualised profit of 2% over 23 years.
Completed in 1991, the freehold Casa Cairnhill has 72 units over 19 floors. It is a five-minute drive from the Orchard Road shopping belt, and a six-minute walk from Newton Food Centre. Anglo-Chinese School (Primary) is a six-minute drive from the development, while Saint Margaret’s Primary School is a nine-minute drive away.
At Bedok Court, the seller of an eighth floor unit made the third most profitable transaction of the week with a $1.11 million gain. The 2,411 sq ft, three-bedroom unit was bought for $940,000 ($390 psf) in November 1996, and sold for $2.05 million ($850 psf) on July 18. The seller made a 118% profit, or an annualised profit of 3% over nearly 23 years.
Located in District 16,...