>

Unit at The Balmoral reaps $1.77 mil profit

By Charlene Chin

/ EdgeProp Singapore |

February 27, 2020 7:58 AM SGT

Join our Telegram channel and follow our Facebook for the latest update.

SINGAPORE (EDGEPROP) - The seller of a unit at The Balmoral, along Balmoral Park, made the top gain of $1.77 million over the week of Feb 11 to 18. The 3,154 sq ft unit on the first floor was bought for $2.96 million ($938 psf) in May 2006 and sold for $4.73 million ($1,500 psf) on Feb 17. The seller therefore made a 60% profit, or an annualised profit of 3% over almost 14 years.

Located in District 10, The Balmoral was completed in 1986 and comprises 81 freehold units. It is a 14-minute walk to the Stevens MRT Station on the Downtown Line.

The second top gain made over the week – a 103% profit of $1.55 million – was at The Centrepoint along Orchard Road. The 1,173 sq ft unit on the fourth floor was purchased for $1.5 million ($1,278 psf) in July 2007 and sold for $3.05 million ($2,600 psf) on Feb 14. This means that the seller made an annualised profit of 6% over almost 13 years.

The Centrepoint, in District 9, comprises 66 units on a 99-year leasehold. It was completed in 1983 and is a four-minute walk to Somerset MRT Station on the North-South Line.

A unit sold at Valley Park, along River Valley Road in District 10, made the third largest gain over the week, netting a 133% profit of $1.33 million for the seller. The 1,356 sq ft unit on the sixth floor was bought in March 2004 for $1 million ($737 psf), and sold for $2.33 million ($1,718 psf) on Feb 17. The seller therefore made an annualised profit of 5% over 16 years.

Valley Park, completed in 1997, comprises 728 units on a 999-year leasehold. It is a 13-minute walk to the upcoming Great World MRT Station on the Thomson-East Coast Line, slated for completion in 2021.

The greatest loss incurred over the week was from the resale of a 1,884 sq ft unit at Jardin in District 21 (Credit: The Edge Singapore)

On the other hand, the greatest loss incurred over the week was from the resale of a 1,884 sq ft unit at Jardin in District 21. Having sold the property for $2.87 million ($1,524 psf) on Feb 12, the seller suffered an 18% loss of $639,300. The unit was purchased in December 2007 for $3.51 million ($1,863 psf). Over a holding period of 12 years, this translates into an annualised loss of 2%.

Jardin, along Dunearn Road, comprises 140 freehold units. Completed in 2012, it is six minutes by foot to King Albert Park MRT Station on the Downtown Line.

Check out the latest listings near The Balmoral, The Centrepoint, Valley Park, Jardin, MRT Stations and Schools

For price trends, recent transactions, other project info, check out these projects' research page: The Balmoral, The Centrepoint, Valley Park, Jardin

Read also: