Resale unit at Tanglin Residences reaps $1.5 mil profit

By Bong Xin Ying / EdgeProp Singapore | November 22, 2019 7:00 AM SGT
The 1,819 sq ft unit on the second floor of Tanglin Residences was bought for $2.45 million ($1,347 psf) in September 2005, and sold for $3.95 million ($2,171 psf) on Nov 7 (Credit: The Edge Singapore) - EDGEPROP SINGAPORE
The 1,819 sq ft unit on the second floor of Tanglin Residences was bought for $2.45 million ($1,347 psf) in September 2005, and sold for $3.95 million ($2,171 psf) on Nov 7 (Credit: The Edge Singapore)
The seller of a unit at Tanglin Residences made the top gain of $1.5 million over the week of Nov 5 to 12. The 1,819 sq ft unit on the second floor was bought for $2.45 million ($1,347 psf) in September 2005, and sold for $3.95 million ($2,171 psf) on Nov 7. The seller made a 61% profit, or an annualised profit of 3% over more than 14 years.
Located on St Martin’s Drive in prime District 10, the freehold condo was completed in 2005. Developed by CapitaLand, it has 43 units spread over four storeys. The development is a nine-minute walk from the future Orchard Boulevard MRT Station on the Thomson-East Coast Line.
The second biggest gain made over the week – a 96% profit of $1.22 million – was at The Chuan, located along Chuan Lane in District 19. The 1,658 sq ft unit on the ninth floor was purchased for $1.27 million ($767 psf) in April 2007, and sold for $2.49 million ($1,501 psf) on Nov 6. This means that the seller made an annualised profit of 5% over 12½ years.
ADVERTISEMENT
Completed in 2007, the 106-unit, 999-year leasehold The Chuan was developed by Kheng Leong Developments. The condo is a four-minute walk from Lorong Chuan MRT Station on the Circle Line.
Meanwhile, a unit sold at Woodsville Mansions, on Woodsville Close in District 13, made the third most profitable transaction over the period, netting a 118% profit of $1.04 million for the seller. The 1,916 sq ft unit on the fourth floor was bought in June 2007 for $880,000 ($459 psf), and sold for $1.92 million ($1,002 psf) on Nov 6. The seller therefore made an annualised profit of 6% over more than 12 years.
Woodsville Mansions, completed in 1987, is a five-minute walk from Potong Pasir MRT Station on the North-East Line.
On the other hand, the biggest loss incurred over the week was from the resale of a 2,271 sq ft unit at The Ladyhill, in prime District 10. The property was sold for $5.6 million ($2,466 psf) on Nov 11, at a 12% loss of $780,000. The unit was purchased in February 2010 for $6.38 million ($2,809 psf). Over a holding period of close to 10 years, this translates into an annualised loss of 1%.
ADVERTISEMENT
A unit at The Ladyhill sustained a 12% loss of $780,000 after it was sold for $5.6 million ($2,466 psf) on Nov 11 (Credit: Samuel Isaac Chua/The Edge Singapore) - EDGEPROP SINGAPORE
A unit at The Ladyhill sustained a 12% loss of $780,000 after it was sold for $5.6 million ($2,466 psf) on Nov 11 (Credit: Samuel Isaac Chua/The Edge Singapore)
The Ladyhill, a freehold development by SC Global Developments, was completed in 2002. It is a 55-unit boutique luxury condo located just off Orange Grove Road.
 - EDGEPROP SINGAPORE
For price trends, recent transactions, other project info, check out these projects' research page: Tanglin Residences, The Chuan, Woodsville Mansions, The Ladyhill
Read also:
ADVERTISEMENT