Three-bedder at Tomlinson Heights rakes in $1.95 mil profit

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/ EdgeProp Singapore
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April 1, 2022 7:05 AM SGT
The 2,745 sq ft unit at Tomlinson Heights was sold for $10.13 million ($3,690 psf) on March 22.
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SINGAPORE (EDGEPROP) - The sale of a 2,745 sq ft, three-bedroom unit at Tomlinson Heights was the most profitable resale deal during the week of March 15 to 22. The unit on the 27th floor was transacted for $10.13 million ($3,690 psf) on March 22.
The unit had been purchased for $8.18 million ($2,980 psf) in June 2015. This means that the seller made a profit of $1.95 million (24%), which translates to an annualised profit of 3.2% over nearly seven years.
Tomlinson Heights is a 70-unit freehold luxury development that was completed in 2014. It is located along Tomlinson Road, off Paterson Road, in prime District 10. The development comprises three-bedroom units of 2,745 sq ft, five-bedroom units of 4,047 sq ft, and a pair of 5,490 sq ft penthouses.
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Tomlinson Heights - EDGEPROP SINGAPORE
The 2,745 sq ft unit at Tomlinson Heights was sold for $10.13 million ($3,690 psf) on March 22. (Picture: Samuel Isaac Chua/The Edge Singapore)
Based on URA caveats, the transaction on March 22 is also the most profitable one recorded so far at the development. The previous record was for the sale of another 2,745 sq ft three-bedder on the fifth floor on Nov 12 last year. That unit fetched $8.8 million ($3,206 psf). The seller had bought it at $7.65 million ($2,789 psf) in May 2015. The seller thus made a $1.14 million (15%) profit, which translates to an annualised profit of 2% over 6½ years.
According to EdgeProp’s Price Trends tool, the average sales price at Tomlinson Heights has been on an uptrend over the past six years. Based on resale transactions at the condo over the past 12 months, the average resale price at Tomlinson Heights is about $3,352 psf.
Tomlinson Heights price trend - EDGEPROP SINGAPORE
The price trend analysis usinf EdgeProp's research tool. (Source: EdgeProp Singapore)
The second most profitable transaction during the week was for a 1,808 sq ft, four-bedroom unit at Trevista. The unit fetched $2.92 million ($1,619 psf) on March 18. It had been bought at $1.55 million ($855 psf) in September 2009. Thus, the seller made a profit of $1.38 million (89%), which translates to an annualised profit of 5.2% over 12½ years.
Trevista is a 99-year leasehold condo along Toa Payoh Lorong 3 in District 12. The 590-unit development was completed in 2012. The project is located between Toa Payoh and Braddell MRT Stations on the North-South Line. The condo is close to several amenities, schools, and community facilities in the area. (Discover insightful data of any Singapore condominium with our condo directory)
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The transaction at Trevista on March 18 is also the most profitable one recorded at the condo. The previous record was set by the sale of another 1,808 sq ft, four-bedder for $2.78 million ($1,537 psf) on Dec 3, 2021. The seller had bought it at $1.66 million ($920 psf) in October 2009 2009. The profit of $1.11 million (67%) translates to an annualised profit of 4.3% over 12 years.
On the other hand, the most unprofitable transaction during the week was at Helios Residences. A 1,668 sq ft, three-bedroom unit on the 15th floor was sold for $3.95 million ($2,368 psf) on March 18. The seller had bought it at $6.11 million ($3,663 psf) in September 2012. The seller thus suffered a $2.16 million (35%) loss, which translates to an annualised loss of 4.5% over 9½ years.
Helios Residences - EDGEPROP SINGAPORE
Helios Residences has seen a streak of unprofitable resale transactions over the past three years. (Picture: Samuel Isaac Chua/The Edge Singapore)
Helios Residences is a 140-unit freehold development that was completed in 2011. Located along Cairnhill Circle in prime District 9, it is close to the Orchard Road shopping belt and Newton area. The development comprises two- and three-bedroom units of 1,281 to 2,002 sq ft.
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The transaction at Helios Residences is the latest unprofitable deal in a streak of loss-making transactions at the condo. According to URA caveats, there have been at least 15 resale deals at the condo over the past three years and they have all been unprofitable. Losses have ranged from $220,000 to $6.1 million.

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