Four-bedder at Nassim 9 sold for $4.4 mil profit
Reflections at Keppel Bay is a 1,129-unit beachfront deluxe property development by Keppel Land. The 99-year leasehold project, with six residential towers and also 11 villa apartment blocks, was finished in 2011.
The most unprofitable purchase filed for the week was the revenue of a unit at Reflections at Keppel Bay, situated along Keppel Bay View in District 4. On Oct 31, a unit estimating 2,379 sq ft on the 27th level obtained $4.3 million ($1,808 psf). The dealer had actually acquired the unit for $5.4 million ($2,278 psf) in May 2007. Hence, they incurred a loss of 20.6% or $1.1 million over a 15 1/2-year holding duration.
The Oceanfront @ Sentosa Cove is a 99-year leasehold, ultra-luxury condo in the Sentosa Cove territory in District 4. Situated on an island, the sea-facing condo was established by a mutual venture between City Developments and also TID (a partnership between Hong Leong Holdings together with Mitsui Fudosan) and even finished in 2010. The property contains 5 towers ranging from 13 to 15 storeys tall, and a total of 264 units. Unit measurements start from 1,216 sq ft for a two-bedroom condo, rising to 8,095 sq ft for the biggest penthouse.
Nassim 9, a store high-end project completed in 2002, has only 8 units housed in a four-storey structure. It lies within walking range of Orchard Boulevard MRT Station (on the Thomson-East Coast Line), that is due to launch on Nov 13. The Botanic Gardens, Tanglin Mall as well as The Forum are additionally in just strolling distance.
The second-most profitable purchase for the week happened at The Oceanfront @ Sentosa Cove. A duplex penthouse measuring 5,985 sq ft on the 15th floor was cost $14.3 million ($2,389 psf) on Oct 28. The owner had purchased the unit for $11.5 million ($1,922 psf) in June 2009, which implies they raked in a $2.8 million (24.3%) revenue on the proceeding after holding the property for 13 1/2 years.
The sale of a 3,423 sq ft unit at Nassim 9, an estate property development on Nassim Road in prime District 10, was one of the most profitable purchase documented during the week of Oct 25 to Nov 1. The four-bedroom unit, which altered hands for $11.2 million ($3,272 psf) on Oct 27, had recently been bought by the vendor for $6.8 million ($1,987 psf) in October 2009, converting to a gain of $4.4 million, or 64.7%, throughout the 13-year holding period.
The unit retailed on Oct 27 clocked the highest possible price worked out at the property development on both psf and even outright bases. Before this, the most current deal at Nassim 9 occurred in April 2012 when a 3,143 sq ft unit was cost $8.8 million ($2,800 psf), which also marked the previous psf- and absolute-price highs for the condo.
The apartment was among a number of secondhand units to be marketed underneath their acquisition costs in the last 2 years, according to information put together by the EdgeProp Research study tool. The most unlucrative sale at the property development occurred in July 2020, when a 3,854 sq ft unit was sold for $5.85 million ($1,518 psf), with the vendor accumulating a loss of $4.8 million.
