Four-bedder at Nassim 9 sold for $4.4 mil profit

The second-most successful purchase for the week took place at The Oceanfront @ Sentosa Cove. A duplex penthouse determining 5,985 sq ft on the 15th level was marketed for $14.3 million ($2,389 psf) on Oct 28. The owner had actually acquired the unit for $11.5 million ($1,922 psf) in June 2009, which suggests they brought in a $2.8 million (24.3%) revenue on the proceeding after holding the real estate for 13 1/2 years.

Nassim 9, a store luxurious project completed in 2002, has only eight units property in a four-storey structure. It rises within strolling distance of Orchard Boulevard MRT Station (on the Thomson-East Coast Line), that is coming to start on Nov 13. The Botanic Gardens, Tanglin Mall and The Forum are also throughout walking range.

The most unprofitable transaction reported for the week was the profit 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 retailer had actually acquired the unit for $5.4 million ($2,278 psf) in May 2007. For this reason, they acquired a decline of 20.6% or $1.1 million over a 15 1/2-year holding period.

Perfect Ten Condo Japura Development Pte Ltd

The sale of a 3,423 sq ft unit at Nassim 9, an estate property development on Nassim Street in top Neighborhood 10, was one of the most highly profitable agreement reported during the week of Oct 25 to Nov 1. The four-bedroom unit, which transformed hands for $11.2 million ($3,272 psf) on Oct 27, had been bought by the seller for $6.8 million ($1,987 psf) in October 2009, equating to a gain of $4.4 million, or 64.7%, more than the 13-year retaining duration.

The unit sold on Oct 27 clocked the greatest rate worked out at the property development on both psf and even absolute bases. Before this, one of the most latest transaction at Nassim 9 took place in April 2012 the moment a 3,143 sq ft unit was sold for $8.8 million ($2,800 psf), which additionally registered the last psf- and absolute-price highs for the condominium.

The Oceanfront @ Sentosa Cove is a 99-year leasehold, ultra-luxury condominium in the Sentosa Cove enclave in District 4. Located on an island, the sea-facing condominium was established by a joint endeavor in between City Developments as well as TID (an alliance between Hong Leong Holdings together with Mitsui Fudosan) and even completed in 2010. The project consists of five towers varying from 13 to 15 storeys high, and also a total of 264 units. Unit sizes begin with 1,216 sq ft for a two-bedroom apartment, increasing to 8,095 sq ft for the largest penthouse.

The apartment was just one of several secondhand units to be sold underneath their purchase costs in the last 2 years, according to information compiled by the EdgeProp Research tool. The most unprofitable transactions at the development occurred in July 2020, when a 3,854 sq ft unit was realized $5.85 million ($1,518 psf), with the seller accumulating a loss of $4.8 million.

Reflections at Keppel Bay is a 1,129-unit waterfront high-end property by Keppel Land. The 99-year leasehold development, with 6 residential towers and 11 vacation home residence blocks, was completed in 2011.


error: Content is protected !!