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Unit at The Sea View reaps $1.5 mil profit

By Charlene Chin

/ EdgeProp Singapore |

August 28, 2020 10:50 AM SGT

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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 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.

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.

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%.

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.