Unit at The Esta reaps $1.44 mil profit

By Charlene Chin / EdgeProp Singapore | July 8, 2021 7:00 PM SGT
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SINGAPORE (EDGEPROP) - The top gain made over the week of June 22 to 27 — a 113% profit of $1.44 million — was at The Esta, located along Amber Gardens. The 1,464 sq ft unit on the 15th floor was purchased for $1.28 million ($874 psf) in February 2009 and sold for $2.72 million ($1,858 psf) on June 24. This means that the seller made an annualised profit of 6% over more than 12 years. (See also: Unit at Montview reaps $2.4 mil profit)
The Esta - EDGEPROP SINGAPORE
The 1,464 sq ft unit at The Esta was sold for $2.72 million ($1,858 psf) on June 24 (Credit: Samuel Isaac Chua/ The Edge Singapore)
The Esta, in District 15, was completed in 2008 and is a freehold development with 400 units. It is a six-minute walk to the upcoming Tanjong Katong MRT Station on the Thomson-East Coast Line.
A unit sold at Signature Park, located along Toh Tuck Road in District 21, made the second largest gain over the week, netting a 64% profit of $830,000 for the seller. The 1,421 sq ft unit on the eighth floor was bought in March 2012 for $1.29 million ($908 psf), and sold for $2.12 million ($1,492 psf) on June 23. The seller therefore made an annualised profit of 6% over nine years.
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Signature Park comprises 928 freehold units, and was completed in 1998. It is a 16-minute walk to Beauty World MRT Station on the Downtown Line.
Signature Park - EDGEPROP SINGAPORE
The second largest gain over the week was from the sale of a 1,421 sq ft unit at Signature Park for $2.12 million ($1,492 psf) (Credit: Samuel Isaac Chua/ The Edge Singapore)
Meanwhile, a unit at Heritage View, located along Dover Rise in District 5, made the third largest gain of about $768,900 over the week. The 1,163 sq ft unit on the 17th floor was bought for about $671,100 ($577 psf) in April 1999 and sold for $1.44 million ($1,239 psf) on June 25. The seller therefore made a 115% profit, or an annualised profit of 3% over 22 years.
Heritage View was completed in 2000 and has 618 units on a 99-year leasehold. It is a 15-minute walk to one-north MRT station on the Circle Line.
On the other hand, the most unprofitable deal of the week was the resale of a 3,466 sq ft unit at Scotts Highpark in District 9. Having sold the property for $6.9 million ($1,991 psf) on June 25, the seller suffered a 12% loss of $898,500. The unit was purchased in December 2007 for $7.8 million ($2,250 psf). Over a holding period of 13½ years, this translates into an annualised loss of 1%.
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Scotts Highpark, located along Scotts Road, comprises 73 freehold units, and was completed in 2009. It is a one-minute walk to Newton MRT interchange Station on the North-South and Downtown Lines.

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