Unit at The Tessarina sold for $1.32 mil profit
SINGAPORE (EDGEPROP) - The seller of a unit at The Tessarina, along Wilby Road, made the top gain of $1.32 million over the week of Nov 3 to 10. The 1,313 sq ft unit on the third floor was bought for $965,000 ($735 psf) in December 2005 and sold for $2.28 million ($1,736 psf) on Nov 5. The seller therefore made a 136% profit, or an annualised profit of 6% over almost 15 years.
Located in District 10, The Tessarina was completed in 2003. The freehold development comprises 443 units and is an 11-minute walk to King Albert Park MRT Station on the Downtown line.
The seller of a unit at The Tessarina made a 136% profit (Credit: The Edge Singapore/ File photo)
The second top gain made over the week — a 155% profit of $1.05 million — was at Meraprime, located along Jalan Bukit Ho Swee in District 3. The 1,119 sq ft unit on the 23rd floor was purchased for $679,000 ($607 psf) in July 2005 and sold for $1.73 million ($1,545 psf) on Nov 9. This means that the seller made an annualised profit of 6% over 15 years.
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Meraprime comprises 213 units on a 99-year leasehold. It was completed in 2006 and is a four-minute walk to Tiong Bahru MRT Station on the East-West Line.
A unit sold at The Blossomvale, located along Dunearn Road in District 21, made the third largest gain over the week, netting a 97% profit of $1.02 million. The 1,367 sq ft unit on the second floor was purchased in June 2000 for $1.05 million ($768 psf), and sold for $2.07 million ($1,513 psf) on Nov 4. The seller therefore made an annualised profit of 3% over 20 years.
The Blossomvale comprises 220 units on a 999-year leasehold. Completed in 1998, it is a three-minute walk from King Albert Park MRT Station on the Downtown Line.
On the flip side, the top loss during the week in review was incurred by the resale of a 3,348 sq ft unit at Setia Residences in District 11. Bought in September 2010 for $6.94 million ($2,073 psf), it changed hands for $6.1 million ($1,822 psf) on Nov 9. The unit incurred a 12% loss of $838,000, or an annualised loss of 1% over a holding period of a decade.
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Setia Residences, located along Evelyn Road, comprises 24 freehold units. Completed in 2003, it is an eight-minute walk to Newton MRT Interchange Station on the North-South and Downtown Lines.
Check out the latest listings near The Tessarina, Wilby Road, Meraprime, Jalan Bukit Ho Swee, The Blossomvale, Dunearn Road, King Albert Park MRT Station, Newton MRT Interchange Station
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