Unit at Three Three Robin reaps $4.82 mil profit

SINGAPORE (EDGEPROP) - The seller of a unit at Three Three Robin, located on Robin Road, made the top gain of $4.82 million over the week of July 13 to 19. The 4,855 sq ft unit on the 11th floor was bought for $4.53 million ($934 psf) in September 2005 and sold for $9.35 million ($1,926 psf) on July 19. The seller therefore made a 106% profit, or an annualised profit of 5% over almost 16 years. (See also: Unit at Leedon Residence reaps $2.9 mil profit)

Located in District 10, Three Three Robin was completed in 2005 and has 36 freehold units. It is a 12-minute walk to Stevens MRT Station on the Downtown Line.

The second top gain made over the week — a 203% profit of $1.59 million — was at Adam Place, located on Adam Road. The 1,421 sq ft unit on the third floor was purchased for $785,813 ($553 psf) in May 2006 and sold for $2.38 million ($1,675 psf) on July 16. This means that the seller made an annualised profit of 8% over 15 years.

Adam Place, in District 11, was completed in 1992 and has 24 freehold units. It is a nine-minute drive to Botanic Gardens MRT Interchange Station on the Downtown and Circle Lines.

A unit sold at Caribbean at Keppel Bay, located on Keppel Bay Drive in District 4, made the third largest gain over the week, netting a 82% profit of $1.15 million for the seller. The 1,647 sq ft unit on the seventh floor was bought in October 2000 for $1.4 million ($851 psf), and sold for $2.55 million ($1,548 psf) on July 16. The seller therefore made an annualised profit of 3% over almost 21 years.

Caribbean at Keppel Bay was completed in 2004 and has 969 units on a 99-year leasehold. It is an eight-minute walk to Harbourfront MRT Interchange Station on the North-East and Circle Lines.

On the other hand, the most unprofitable deal of the week was the resale of a 646 sq ft unit at The Scotts Tower in District 9. Having sold the property for $1.36 million ($2,106 psf) on July 15, the seller suffered a 35% loss of $720,000. The unit was purchased in January 2013 for $2.08 million ($3,221 psf). Over a holding period of 8½ years, this translates into an annualised loss of 5%. (See: Check all latest property transactions in singapore)

The Scotts Tower, located on Scotts Road, comprises 231 units on a 103-year leasehold, and was completed in 2016. It is a four-minute walk to Newton MRT Interchange Station on the North-South and Downtown Lines.