Unit at The Ritz-Carlton Residences sees $1.9 mil loss
By Charlene Chin
/ EdgeProp Singapore |
SINGAPORE (EDGEPROP) - The seller of a unit at The Ritz-Carlton Residences, on Cairnhill Road, incurred the top loss of $1.88 million over the week of Nov 26 to Dec 3. The 2,831 sq ft unit on the 20th floor was bought for $11.68 million ($4,128 psf) in October 2012 and sold for $9.8 million ($3,462 psf) on Nov 28. The seller therefore made a 16% loss, or an annualised loss of 2% over seven years.
Located in District 9, The Ritz-Carlton Residences was completed in 2011 and comprises 58 freehold units. It is an 11-minute walk to Newton MRT Interchange Station on the Downtown and North-South Lines.
The second biggest loss sustained over the week – a 13% loss of $1.4 million – was by another unit at The Ritz-Carlton Residences. Also located on the 20th floor, the 2,831 sq ft unit was purchased for $11.2 million ($3,956 psf) in January 2013 and sold for $9.8 million ($3,462 psf) on Nov 28. This means that the seller made an annualised loss of 2% over nearly seven years.
A unit sold at Reflections at Keppel Bay, along Keppel Bay View in District 4, incurred the third largest loss over the week, netting a 13% loss of $406,800 for the seller. The 1,528 sq ft unit on the 22nd floor was bought for $3.22 million ($2,109 psf) in July 2007, and sold for $2.82 million ($1,843 psf) on Dec 2. The seller therefore incurred an annualised loss of 1% over more than 12 years.
Reflections at Keppel Bay, completed in 2011, comprises 1,129 units on a 99-year leasehold. It is 14 minutes by foot to Telok Blangah MRT Station on the Circle Line.
The seller of a unit at Ardmore Park reaped a 35% profit of $2.4 million, having sold the property for $9.2 million ($3,189 psf) on Nov 29 (Credit: Samuel Isaac Chua/ The Edge Singapore)
On the other hand, the biggest profit made over the week was from the resale of a 2,885 sq ft unit at Ardmore Park in District 10. Having sold the property for $9.2 million ($3,189 psf) on Nov 29, the seller reaped a 35% profit of $2.4 million. The unit was purchased in March 2007 for $6.8 million ($2,357 psf). Over a holding period of nearly 13 years, this translates into an annualised profit of 2%.
Ardmore Park is a 330-unit, freehold project along Ardmore Park. Completed in 2001, it is a 14-minute walk to Orchard MRT Station on the North-South Line.
For price trends, recent transactions, other project info, check out these projects' research page: The Ritz-Carlton Residences, Reflections at Keppel Bay, Ardmore Park
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Check out the latest listings near The Ritz-Carlton Residences, Reflections at Keppel Bay, Ardmore Park, MRT Stations and Schools
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