Unit at The Claymore sold for $4.85 mil profit

By Charlene Chin
/ EdgeProp Singapore |
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SINGAPORE (EDGEPROP) - The seller of a unit at The Claymore, along Claymore Road, made the top gain of $4.85 million over the week of Oct 20 to 27. The 3,348 sq ft unit on the 15th floor was bought for $3.85 million ($1,150 psf) in March 1999 and sold for $8.7 million ($2,599 psf) on Oct 21. The seller therefore made a 126% profit, or an annualised profit of 4% over almost 22 years.
The Claymore (Credit: The Edge Singapore)
The Claymore, located along Claymore Road, is a freehold condominium completed in 1985 comprising 146 units. Nestled within a private residential enclave, the development is an eight-minute walk from Orchard MRT Station on the North-South Line.
The second top gain made over the week — a 25% profit of $1.68 million — was at The Orchard Residences, located along Orchard Boulevard. The 2,465 sq ft unit on the 14th floor was purchased for $6.82 million ($2,768 psf) in March 2007 and sold for $8.5 million ($3,448 psf) on Oct 23. This means that the seller made an annualised profit of 2% over almost 14 years.
The Orchard Residences, which is also in District 9, comprises 175 units on a 99-year leasehold. It was completed in 2010 and is a three-minute walk to Orchard MRT Station.
The third most profitable deal of the week was concluded at Avon Park on Oct 21. Located on Youngberg Terrace in District 13, the 1,711 sq ft unit on the fourth floor was purchased in November 2007 for $1.04 million ($608 psf), and sold for $2.43 million ($1,420 psf). This earned the seller a 134% profit of $1.39 million, which is an annualised profit of 7% over almost 13 years.
Avon Park comprises 179 freehold units. Completed in 1991, it is a two-minute walk from Woodleigh MRT Station on the North-East Line.
Reflections at Keppel Bay (Samuel Isaac Chua/ The Edge Singapore)
Meanwhile, the top loss during the week in review was incurred by the sale of a 5,167 sq ft unit at Reflections at Keppel Bay in District 4. Having sold the property for $9.09 million ($1,760 psf) on Oct 21, the seller suffered an 8% loss of about $827,000. The unit was purchased in August 2007 for $9.92 million ($1,920 psf). Over a holding period of 13 years, this translates into an annualised loss of 1%.
Reflections at Keppel Bay, located on Keppel Bay View, comprises 1,129 units on a 99-year leasehold. Completed in 2011, it is an 11-minute walk to Telok Blangah MRT Station on the Circle Line. It is also within a five-minute drive to VivoCity and a 15-minute drive to the CBD.

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