Resale unit at The Oceanfront reaps $2.2 mil profit
By Charlene Chin
/ EdgeProp Singapore |
SINGAPORE (EDGEPROP) - The seller of a unit at The Oceanfront @ Sentosa Cove made the top gain of $2.2 million over the week of Sept 17 to 24. The 7,793 sq ft unit on the 13th floor was purchased for $8.19 million ($1,051 psf) in August 2006 and sold for $10.4 million ($1,334 psf) on Sept 20. Thus, the seller made a 27% profit, or an annualised profit of 2% over 13 years.
Located in District 4, The Oceanfront @ Sentosa Cove comprises 264 units on a 99- year leasehold and was completed in 2010. It is a 15-minute drive to Harbourfront MRT Interchange Station on the North-East Line and the Circle Line.
The second top gain made over the week – a 167% profit of $1.75 million – was at The Shelford, on Shelford Road in District 11. The 1,399 sq ft, three-bedroom unit on the second floor was purchased for $1.05 million ($750 psf) in March 2005 and sold for $2.8 million ($2,001 psf) on Sept 24. This means that the seller made an annualised profit of 7% over 14½ years.
The Shelford comprises 215 freehold units across six storeys and was completed in 2005. It is 12 minutes by foot to Tan Kah Kee MRT Station on the Downtown Line.
A unit sold at The Wharf Residence, along Tong Watt Road in District 11, made the third most profitable transaction over the week, netting an 88% profit of $1.2 million for the seller. The 1,066 sq ft, two-bedroom unit on the 20th floor was bought in June 2009 for $1.36 million ($1,274 psf), and sold for $2.56 million ($2,402 psf) on Sept 24. The seller therefore made an annualised profit of 6% over 10 years.
The Wharf Residence, completed in 2012, comprises 186 units on a 999-year leasehold. It is a nine-minute walk to Fort Canning MRT Station on the Downtown Line.
Having sold the property for $10.38 million ($1,883 psf) on Sept 23, the seller of a unit at The Trillium
sustained a 16% loss of $2.02 million (Credit: Samuel Isaac Chua/ EdgeProp Singapore)
On the other hand, the greatest loss incurred over the week was from the resale of a 5,511 sq ft unit at The Trillium in District 9. Having sold the property for $10.38 million ($1,883 psf) on Sept 23, the seller sustained a 16% loss of $2.02 million. The unit was purchased in June 2011 for $12.4 million ($2,250 psf). Over a holding period of eight years, this translates into an annualised loss of 2%.
The Trillium is a 237-unit, freehold project on Kim Seng Road. Completed in 2010, it is a two-minute walk to the future Great World MRT Station on the Thomson-East Coast Line, which is planned for completion in 2021.
For price trends, recent transactions, other project info, check out these projects' research page: The Oceanfront @ Sentosa Cove, The Shelford, The Wharf Residence, The Trillium
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Check out the latest listings near The Oceanfront @ Sentosa Cove, The Shelford, The Wharf Residence, The Trillium, MRT Stations and Schools
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