Three landed homes sold at $3 mil profit

Three landed homes were transacted in May at a profit exceeding $3 million each. Although the properties were held for at least 10 years, their profits translate into annualised gains of between 9% and 11%.t
The highest profit of $3.5 million accrued to a semi-detached house at Greenleaf View in prime District 10. The seller purchased the property in November 2004 at $2 million ($528 psf of land area) and sold it in May for $5.5 million ($1,423 psf). This translates into an annualised gain of 9%.
The second property is a terraced house at Goldhill View in prime District 11. The seller reaped $3.1 million in profit, having purchased the property in June 2006 for $1.8 million ($696 psf of land area) and sold it in May for $4.9 million ($1,865 psf). The annualised gain works out to 10%.
The third property is a semi-detached house at West Coast Park. It was purchased in April 2006 for $1.7 million ($387 psf of land area) and sold in May for $4.7 million ($1,093 psf). This translates into a profit of $3 million, or an annualised gain of 11%.
A semi-detached house at Greenleaf View in prime District 10 was sold in May for $5.5 million ($1,423 psf of land area)
Separately, two condominium units in District 8 were sold at annualised gains of between 8% and 9%. At City Square Residences, a 1,518 sq ft, mid-floor unit was sold in April at a profit of $1.1 million, reflecting an annualised gain of 8% over 11 years. At Kerrisdale, a 1,485 sq ft, high-floor unit was sold in May at a profit of $920,000, or an annualised gain of 9% over nine years. City Square Residences is a freehold project, while Kerrisdale is a 99-year leasehold property.
Meanwhile, two transactions at Nassim Park Residences resulted in contrasting fortunes for the sellers. One seller reaped $800,000 in profit, while the other lost $1.1 million. Both units were purchased in 2011 and sold in May.
Four is a lucky number at Nassim Park Residences, where a profitable transaction accrued to a unit on...