Unit at The Nassim reaps $2.6 mil profit

By Charlene Chin
/ EdgeProp Singapore |
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SINGAPORE (EDGEPROP) - The seller of a unit at The Nassim, located on Nassim Hill, made the top gain of $2.6 million over the week of Oct 26 to Nov 2. The 3,122 sq ft unit on the third floor was bought for $10.4 million ($3,332 psf) in February 2018 and sold for $13 million ($4,165 psf) on Oct 26. The seller therefore made a 25% profit, or an annualised profit of 6% over almost four years.
The 3,122 sq ft unit at The Nassim was sold for $13 million ($4,165 psf) on Oct 26 (Credit: Kheng Leong Co.)
Located in District 10, The Nassim was completed in 2015 and has 55 freehold units. It is an eight-minute drive to Orchard MRT Station on the North-South Line.
The second most profitable resale during the week in review — a 47% profit of $2 million — was at The Esta, located on Amber Gardens in District 15. The 3,477 sq ft unit on the 21st floor was purchased for $4.25 million ($1,222 psf) in July 2012 and sold for $6.25 million ($1,798 psf) on Oct 29. This means that the seller made an annualised profit of 4% over more than nine years.
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The Esta comprises 400 freehold units and was completed in 2008. It is a six-minute walk to the upcoming Tanjong Katong MRT Station on the Thomson-East Coast Line.
A unit sold at Martin Place Residences made the third largest gain over the week, netting a 65% profit of $1.77 million. The 1,722 sq ft unit on the 30th floor was bought in June 2009 for $2.73 million ($1,587 psf), and sold for $4.5 million ($2,613 psf) on Oct 27. The seller therefore made an annualised profit of 4% over nearly 12½ years.
Martin Place Residences, located on Martin Place in District 9, comprises 302 freehold units and was completed in 2011. It is a 16-minute walk to the upcoming Great World MRT Station on the Thomson-East Coast Line.
Orchard View - EDGEPROP SINGAPORE
The most unprofitable deal of the week was the sale of a 2,530 sq ft unit at Orchard View for $7.1 million ($2,807 psf) (Credit: Samuel Isaac Chua/ The Edge Singapore)
On the other hand, the most unprofitable deal of the week was the resale of a 2,530 sq ft unit at Orchard View on Oct 27. Having sold the property for $7.1 million ($2,807 psf), the seller suffered an 18% loss of $1.59 million. The unit was purchased in August 2010 for $8.69 million ($3,434 psf). Over a holding period of 11 years, this translates into an annualised loss of 2%.
Orchard View, located on Angullia Park in District 9, comprises 30 freehold units and was completed in 2010. It is a three-minute walk to Orchard MRT Station on the NorthSouth Line.

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