Unit at St Regis Residences gains $1.69 mil profit
By Charlene Chin / EdgeProp Singapore | September 29, 2021 5:05 PM SGT
SINGAPORE (EDGEPROP) - The seller of a unit at St Regis Residences on Tanglin Road made the top gain of $1.69 million over the week of Sept 14 to 21. The 3,757 sq ft unit on the 10th floor was bought for $7.7 million ($2,050 psf) in April 2015 and sold for $9.39 million ($2,500 psf) on Sept 16. The seller therefore made a 22% profit, or an annualised profit of 3% over 6½ years.
Read also: Unit at 72 Grange makes $3.15 mil loss
Located in District 10, St Regis Residences was completed in 2008 and has 173 units on a 999-year leasehold. It is a seven-minute walk to the upcoming Orchard Boulevard MRT Station on the Thomson-East Coast Line.
The second top gain made over the week — a 41% profit of $1.5 million — was at Rivergate, on Robertson Quay. The 1,894 sq ft unit on the 27th floor was purchased for $3.7 million ($1,953 psf) in July 2015 and sold for $5.2 million ($2,745 psf) on Sept 16. This means that the seller made an annualised profit of 6% over six years.
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Rivergate, in District 9, comprises 545 freehold units and was completed in 2009. It is an 11-minute walk to the upcoming Havelock MRT Station on the Thomson-East Coast Line.
A unit sold at The Makena, on Meyer Road in District 15, made the third largest gain over the week, netting a 129% profit of $1.41 million for the seller. The 1,636 sq ft unit on the third floor was bought in November 2006 for $1.1 million ($668 psf), and sold for $2.5 million ($1,528 psf) on Sept 21. The seller therefore made an annualised profit of 6% over almost 15 years.
The Makena comprises 504 freehold units and was completed in 1998. It is a four-minute walk to the upcoming Tanjong Katong MRT Station on the Thomson-East Coast Line.
On the other hand, the most unprofitable deal of the week was the resale of a 1,668 sq ft unit at Reflections at Keppel Bay in District 4. Having sold the property for $2.95 million ($1,770 psf) on Sept 21, the seller suffered a 22% loss of $827,000. The unit was purchased in August 2007 for $3.78 million ($2,266 psf). Over a holding period of 14 years, this translates into an annualised loss of 2%.
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Reflections at Keppel Bay, on Keppel Bay View, comprises 1,129 units on a 99-year leasehold and was completed in 2011. It is a seven-minute walk to Telok Blangah Station on the Circle Line.
Check out the latest listings near St Regis Residences, Rivergate, The Makena, Reflections at Keppel Bay, Orchard Boulevard MRT Station, Havelock MRT Station, Tanjong Katong MRT Station, Telok Blangah MRT Station
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