Unit at The Sea View reaps $1.5 mil profit

By
/ EdgeProp Singapore
|
August 28, 2020 10:50 AM SGT
GAINS & LOSSES - EDGEPROP SINGAPORE
SINGAPORE (EDGEPROP) - The seller of a unit at The Sea View, located along Amber Road, made the top gain of $1.5 million over the week of Aug 11 to 18. The 1,647 sq ft unit on the 13th floor was bought for $1.31 million ($796 psf) in November 2005 and sold for $2.8 million ($1,700 psf) on Aug 13. The seller therefore made a 114% profit, or an annualised profit of 5% over almost 15 years.
Located in District 15, The Sea View was completed in 2008. The freehold development comprises 546 units. It is a seven-minute walk to the upcoming Marine Parade MRT Station on the Thomson-East Coast Line, which is slated for completion in 2023.
The Sea View - EDGEPROP SINGAPORE
The seller of the unit at The Sea View made a 114% profit, or an annualised profit of 5% over almost 15 years (Credit: Samuel Isaac Chua/ The Edge Singapore)
The second top gain made over the week — a 109% profit of $1.33 million — was at The Nexus, located along Bukit Timah Road. The 1,485 sq ft unit on the seventh floor was purchased for $1.21 million ($818 psf) in June 2006 and sold for $2.54 million ($1,710 psf) on Aug 14. This means that the seller made an annualised profit of 5% over 14 years.
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The Nexus, in District 21, comprises 242 freehold units and was completed in 2006. It is a six-minute walk to King Albert Park MRT Station on the Downtown Line.
A unit sold at Amaranda Gardens — which is located along Serangoon Avenue 3 in District 19 — made the third largest gain over the week, netting a 128% profit of $1.21 million for the seller. The 1,464 sq ft unit on the ninth floor was bought in November 2001 for $943,152 ($644 psf), and sold for $2.15 million ($1,469 psf) on Aug 12. The seller therefore made an annualised profit of 4% over almost 19 years.
Amaranda Gardens comprises 189 freehold units. Completed in 2004, it is a five-minute walk to Lorong Chuan MRT Station on the Circle Line.
HELIOS RESIDENCES - EDGEPROP SINGAPORE
The biggest loss incurred over the week was for the resale of a 1,701 sq ft unit at Helios Residences (Credit: Samuel Isaac Chua/ The Edge Singapore)
On the other hand, the biggest loss incurred over the week in review was from the resale of a 1,701 sq ft unit at Helios Residences in District 9. Having sold the property for $3.58 million ($2,102 psf) on Aug 13, the seller suffered a 36% loss of $1.98 million. The unit was purchased in July 2007 for $5.56 million ($3,266 psf). Over a holding period of 13 years, this translates into an annualised loss of 3%.
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Helios Residences comprises 140 freehold units and was completed in 2011. Located along Cairnhill Circle, it is an 11-minute walk to Newton MRT Interchange Station on the Downtown and North-South Lines.
For price trends, recent transactions, other project info, check out these projects' research page: The Sea View, The Nexus, Amaranda Gardens, Helios Residences
Check out the latest listings near The Sea View, The Nexus, Amaranda Gardens, Helios Residences, Marine Parade MRT Station, King Albert Park MRT Station, Lorong Chuan MRT Station, Newton MRT Station
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