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

The unit sold on Oct 27 clocked the highest cost worked out at the property on both psf and even outright bases. Prior to this, the most current purchase at Nassim 9 took place in April 2012 when a 3,143 sq ft unit was cost $8.8 million ($2,800 psf), which also registered the recent psf- and absolute-price highs for the apartment.

The apartment was just one of numerous resale units to be sold underneath their acquisition costs in the last two years, according to data compiled by the EdgeProp Research study tool. The most unprofitable transaction at the development happened in July 2020, when a 3,854 sq ft unit was sold for $5.85 million ($1,518 psf), with the seller sustaining 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 six residential towers and also 11 accommodation residence blocks, was done in 2011.

The Continuum Thiam Sew Avenue

The sale of a 3,423 sq ft unit at Nassim 9, a freehold property development on Nassim Street in top Neighborhood 10, was the best successful transaction documented throughout the week of Oct 25 to Nov 1. The four-bedroom unit, that transformed hands for $11.2 million ($3,272 psf) on Oct 27, had actually been acquired by the seller for $6.8 million ($1,987 psf) in October 2009, translating to an achieve of $4.4 million, or 64.7%, throughout the 13-year holding period.

The second-most profitable transaction for the week took place at The Oceanfront @ Sentosa Cove. A duplex penthouse determining 5,985 sq ft on the 15th floor was cost $14.3 million ($2,389 psf) on Oct 28. The vendor had 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 property for 13 1/2 years.

Nassim 9, a shop high-end development completed in 2002, has just 8 units housed in a four-storey establishment. It lies within walking range of Orchard Boulevard MRT Terminal (on the Thomson-East Coast Line), which is due to launch on Nov 13. The Botanic Gardens, Tanglin Shopping Center as well as The Forum are additionally within walking proximity.

One of the most unlucrative purchase recorded for the week was the sale of a unit at Reflections at Keppel Bay, found along Keppel Bay View in District 4. On Oct 31, a unit measuring 2,379 sq ft on the 27th floor brought $4.3 million ($1,808 psf). The retailer had purchased the unit for $5.4 million ($2,278 psf) in May 2007. Hence, they incurred a decline of 20.6% or $1.1 million over a 15 1/2-year keeping duration.

The Oceanfront @ Sentosa Cove is a 99-year leasehold, ultra-luxury condo in the Sentosa Cove enclave in District 4. Situated on an islet, the sea-facing condo was established by a mutual endeavor between City Developments and TID (a collaboration between Hong Leong Holdings together with Mitsui Fudosan) and finished in 2010. The property includes 5 towers varying from 13 to 15 floors tall, and also a total of 264 units. Unit measurements start from 1,216 sq ft for a two-bedroom condo, increasing to 8,095 sq ft for the biggest penthouse.

error: Content is protected !!