Four-bedder at Nassim 9 sold for $4.4 mil profit
The unit retailed on Oct 27 clocked the greatest rate worked out at the property development on both psf and outright bases. Prior to this, the most recent transaction at Nassim 9 occurred in April 2012 the moment a 3,143 sq ft unit was sold for $8.8 million ($2,800 psf), which additionally regarded the recent psf- and absolute-price highs for the condominium.
The second-most successful deal for the week occurred at The Oceanfront @ Sentosa Cove. A duplex penthouse gauging 5,985 sq ft on the 15th level 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 means they generated a $2.8 million (24.3%) earnings on the transaction after holding the real estate for 13 1/2 years.
Reflections at Keppel Bay is a 1,129-unit beachfront high-end property development by Keppel Land. The 99-year leasehold project, with six housing towers as well as 11 accommodation flat blocks, was done in 2011.
The sale of a 3,423 sq ft unit at Nassim 9, an estate project on Nassim Street in prime Area 10, was the most highly profitable transaction recorded throughout 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 been purchased by the seller for $6.8 million ($1,987 psf) in October 2009, converting to a gain of $4.4 million, or 64.7%, more than the 13-year retaining duration.
The most unprofitable deal recorded for the week was the revenue of a unit at Reflections at Keppel Bay, found along Keppel Bay View in District 4. On Oct 31, a unit estimating 2,379 sq ft on the 27th level fetched $4.3 million ($1,808 psf). The dealer had actually purchased the unit for $5.4 million ($2,278 psf) in May 2007. For this reason, they acquired a loss of 20.6% or $1.1 million over a 15 1/2-year keeping period.
Nassim 9, a shop luxury project completed in 2002, has just 8 units property in a four-storey structure. It lies within walking range of Orchard Boulevard MRT Terminal (on the Thomson-East Coast Line), which is due to open on Nov 13. The Botanic Gardens, Tanglin Shopping Mall and The Forum are additionally in just strolling proximity.
The condominium was one of several resell units to be marketed below their acquisition rates in the last 2 years, according to data compiled by the EdgeProp Investigation tool. The most unprofitable transaction at the property development took place in July 2020, when a 3,854 sq ft unit was sold for $5.85 million ($1,518 psf), with the seller incurring a loss of $4.8 million.
The Oceanfront @ Sentosa Cove is a 99-year leasehold, ultra-luxury condo in the Sentosa Cove territory in District 4. Found on an islet, the sea-facing condominium was developed by a mutual venture between City Developments as well as TID (an alliance in between Hong Leong Holdings plus Mitsui Fudosan) and completed in 2010. The property consists of five towers ranging from 13 to 15 storeys high, and an overall of 264 units. Unit measurements start from 1,216 sq ft for a two-bedroom apartment, rising to 8,095 sq ft for the best penthouse.