Unit at The Orchard Residences sold at $2 mil loss

By
/ EdgeProp Singapore
|
May 15, 2020 5:50 AM SGT
SINGAPORE (EDGEPROP) - The seller of a unit at Leonie Parc View, on Leonie Hill Road, made the top loss of $2.12 million over the period of April 26 to May 5. The 2,013 sq ft unit on the 17th floor was bought for $6.55 million ($3,254 psf) in August 2007 and sold for $4.43 million ($2,200 psf) on May 4. The seller therefore made a 32% loss, or an annualised loss of 3% over almost 13 years.
Located in District 9, Leonie Parc View was completed in 2009 and comprises 44 freehold units. It is a one-minute drive to the upcoming Great World MRT Station on the Thomson-East Coast Line, slated for completion in 2021.
The second top loss made over the period — a 17% loss of $2.04 million — was at The Orchard Residences. The 2,853 sq ft unit on the 43rd floor was purchased for $11.7 million ($4,099 psf) in September 2009 and sold for $9.65 million ($3,383 psf) on May 4. This means that the seller made an annualised loss of 2% over almost 11 years.
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EDGEPROP SINGAPORE - The Orchard Residences (Credit: Samuel Isaac Chua/ The Edge Singapore)
The Orchard Residences (Credit: Samuel Isaac Chua/ The Edge Singapore)
The Orchard Residences, in District 9, was completed in 2010 and comprises 175 units on a 99-year leasehold. It is a three-minute walk to Orchard MRT Station on the North-South Line.
A unit sold at Caribbean at Keppel Bay, along Keppel Bay Drive in District 4, made the third largest loss over the period, netting a 7% loss of $115,000 for the seller. The 1,270 sq ft unit on the first floor was bought in September 2011 for $1.7 million ($1,334 psf), and sold for $1.58 million ($1,244 psf) on April 28. The seller therefore made an annualised loss of 1% over almost nine years.
Caribbean at Keppel Bay (Credit: The Edge Singapore)
Caribbean at Keppel Bay, completed in 2004, comprises 969 units on a 99-year leasehold. It is 10 minutes by foot to Harbourfront MRT Interchange Station on the North-East and Circle Lines.
On the other hand, the greatest profit made over the period was from the resale of a 904 sq ft unit at Evelyn Mansions in District 11. Having sold the property for $1.54 million ($1,701 psf) on April 28, the seller reaped a 71% profit of $638,000. The unit was purchased in June 2009 for $900,000 ($995 psf). Over a holding period of almost 11 years, this translates into an annualised profit of 5%.
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Evelyn Mansions comprises 40 freehold units along Evelyn Road. Completed in 1997, it is a seven-minute walk to Newton MRT Station on the North-South Line.
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