Unit at Tiong Bahru Estate reaps $1.45 mil profit
By Charlene Chin
/ EdgeProp Singapore |
SINGAPORE (EDGEPROP) - The seller of a unit at Tiong Bahru Estate, on Yong Siak Street, made the top gain of $1.45 million over the week of Feb 8 to 15. The 1,421 sq ft unit was bought for $2.65 million ($1,865 psf) in December 2016 and sold for $4.1 million ($2,886 psf) on Feb 10. The seller therefore made a 55% profit, or an annualised profit of 9% over five years.
Located in District 3, Tiong Bahru Estate was completed in 1967 and comprises 280 units on a 999-year leasehold. It is a five-minute walk to the upcoming Havelock MRT Station on the Thomson-East Coast Line.
Aerial view of the Tiong Bahru neighbourhood. The 1,421 sq ft unit at Tiong Bahru Estate was sold for $4.1 million on Feb 10 (Credit: Samuel Isaac Chua/ The Edge Singapore)
The second top gain made over the week — a 100% profit of $1.02 million — was at The Stellar, on West Coast Road. The 1,389 sq ft unit on the third floor was purchased for $1.03 million ($738 psf) in April 2007 and sold for $2.05 million ($1,476 psf) on Feb 9. This means that the seller made an annualised profit of 5% over almost 15 years.
The Stellar, in District 5, comprises 162 freehold units and was completed in 2008. It is a six-minute drive to Kent Ridge MRT Station on the Circle Line.
A unit sold at The Regency At Tiong Bahru, along Chay Yan Street in District 3, made the third largest gain over the week, netting a 98% profit of $930,000 for the seller. The 926 sq ft unit on the 13th floor was bought in July 2009 for $950,000 ($1,026 psf), and sold for $1.88 million ($2,031 psf) on Feb 10. The seller therefore made an annualised profit of 6% over 12½ years.
The Regency at Tiong Bahru comprises 158 freehold units and was completed in 2010. It is a 10-minute walk to Tiong Bahru MRT Station on the East-West Line.
The most unprofitable deal of the week was the resale of a 1,238 sq ft unit at Cairnhill Residences in District 9 (Credit: Samuel Isaac Chua/ The Edge Singapore)
On the other hand, the most unprofitable deal of the week was the resale of a 1,238 sq ft unit at Cairnhill Residences in District 9. Having sold the property for $2.8 million ($2,262 psf), the seller suffered a 3% loss of $100,000. The unit was purchased in August 2012 for $2.9 million ($2,343 psf). Over a holding period of 9½ years, this translates into an annualised loss of 0.4%.
Cairnhill Residences, on Cairnhill Circle, comprises 97 freehold units and was completed in 2009. It is a 13-minute walk to Newton MRT Interchange Station on the Downtown and North-South Lines
Check out the latest listings near Tiong Bahru Estate, The Stellar, The Regency at Tiong Bahru, Cairnhill Residences, Havelock MRT Station, Kent Ridge MRT Station, Newton MRT Interchange Station
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