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

One of the most unprofitable purchase filed 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 seller had purchased the unit for $5.4 million ($2,278 psf) in May 2007. Thus, they incurred a loss of 20.6% or $1.1 million over a 15 1/2-year holding period.

The second-most successful deal for the week took place at The Oceanfront @ Sentosa Cove. A double penthouse gauging 5,985 sq ft on the 15th level was sold for $14.3 million ($2,389 psf) on Oct 28. The owner had bought the unit for $11.5 million ($1,922 psf) in June 2009, which means they brought in a $2.8 million (24.3%) revenue on the proceeding after holding the building for 13 1/2 years.

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

The unit sold off on Oct 27 clocked the highest possible price negotiated at the development on both psf together with outright bases. Before this, one of the most current 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 registered the previous psf- and absolute-price highs for the condominium.

The apartment was just one of several secondhand units to be marketed underneath their acquisition rates in the last 2 years, according to details collected by the EdgeProp Research tool. The most unprofitable sale at the development took place in July 2020, when a 3,854 sq ft unit was realized $5.85 million ($1,518 psf), with the seller incurring a loss of $4.8 million.

Liv@MB Singapore

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

Nassim 9, a store deluxe development finalized in 2002, has just eight units housed in a four-storey building. It lies within strolling range of Orchard Boulevard MRT Station (on the Thomson-East Coast Line), which is coming to launch on Nov 13. The Botanic Gardens, Tanglin Mall and The Forum are additionally in just walking range.

The sale of a 3,423 sq ft unit at Nassim 9, an estate property development on Nassim Road in prime Community 10, was the most profitable purchase reported throughout the week of Oct 25 to Nov 1. The four-bedroom unit, which changed hands for $11.2 million ($3,272 psf) on Oct 27, had recently been purchased by the vendor for $6.8 million ($1,987 psf) in October 2009, translating to a gain of $4.4 million, or 64.7%, over the 13-year holding duration.

Add Comment

Your Email address will not be published

error: Content is protected !!