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Unit at Watermark Robertson Quay reaps $1.47 mil profit

By Charlene Chin

/ EdgeProp Singapore |

February 20, 2020 7:58 AM SGT

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SINGAPORE (EDGEPROP) - The seller of a unit at Watermark Robertson Quay, on Rodyk Street, made the top gain of $1.47 million over the week of Feb 4 to 11. The 1,916 sq ft unit on the 10th floor was bought for $1.6 million ($835 psf) in December 2005 and sold for $3.07 million ($1,600 psf) on Feb 5. The seller therefore made a 92% profit, or an annualised profit of 5% over 14 years.

Located in District 9, Watermark Robertson Quay was completed in 2008 and comprises 206 freehold units. It is a 14-minute walk to the upcoming Havelock MRT Station on the Thomson East-Coast Line, which is slated for completion in 2021.

The second top gain made over the week – a 129% profit of $1.21 million – was at Varsity Park Condominium, along West Coast Road (Credit: Samuel Isaac Chua/ The Edge Singapore)

The second top gain made over the week – a 129% profit of $1.21 million – was at Varsity Park Condominium, along West Coast Road. The 2,325 sq ft unit on the fifth floor was purchased for $944,905 ($406 psf) in January 2006 and sold for $2.16 million ($929 psf) on Feb 10. This means that the seller made an annualised profit of 6% over 14 years.

Varsity Park Condominium, in District 5, comprises 530 units on a 99-year leasehold. It was completed in 2008 and is a six-minute drive to Kent Ridge MRT Station on the Circle Line.

A unit sold at Spring Grove, along Grange Road in District 10, made the third largest gain over the week, netting a 125% profit of $1.14 million for the seller. The 1,389 sq ft unit on the 18th floor was bought for $910,000 ($655 psf) in June 1998, and sold for $2.05 million ($1,476 psf) on Feb 6. The seller therefore made an annualised profit of 4% over almost 22 years.

Spring Grove, completed in 1996, comprises 325 units on a 99-year leasehold. It is a 10-minute walk to the upcoming Orchard Boulevard MRT Station on the Thomson-East Coast Line.

On the other hand, the greatest loss incurred over the week was from the resale of a 2,551 sq ft unit at NEWest in District 5. Having sold the property for $1.95 million ($764 psf) on Feb 7, the seller suffered a 21% loss of $524,500. The unit was purchased in June 2013 for $2.47 million ($970 psf). Over a holding period of almost seven years, this translates into an annualised loss of 4%.

NEWest is a 136-unit project on a 999-year leasehold along West Coast Drive. Completed in 2016, it is 16 minutes by foot to Clementi MRT Station on the East-West Line.

Check out the latest listings near Watermark Robertson Quay, Varsity Park Condominium, Spring Grove, NEWest, MRT Stations and Schools

For price trends, recent transactions, other project info, check out these projects' research page: Watermark Robertson Quay, Varsity Park Condominium, Spring Grove, NEWest

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