SINGAPORE (EDGEPROP) - The seller of a unit at Grange Residences on Grange Road made the top gain of $4.56 million over the week of Aug 24 to 31. The 2,583 sq ft unit on the 18th floor had been bought for $3.24 million ($1,255 psf) in February 2004 and was sold for $7.8 million ($3,019 psf) on Aug 25. The seller therefore made a 141% profit, or an annualised profit of 5% over 17½ years.
Read also: Seller of Grange Residences unit reaps $3.9 mil profit
Located in District 10, Grange Residences was completed in 2004 and has 164 freehold units. It is a three-minute walk to the upcoming Orchard Boulevard MRT Station on the Thomson-East Coast Line.
The 2,583 sq ft unit on the 18th floor of Grange Residences was sold for $7.8 million ($3,019 psf) on Aug 25 (Credit: Samuel Isaac Chua/ The Edge Singapore)
The second top gain made over the week — a 130% profit of $2.86 million — was at Camelot By-The-Water, on Tanjong Rhu Road. The 3,035 sq ft unit on the third floor had been purchased for $2.21 million ($727 psf) in April 2000 and was sold for $5.07 million ($1,670 psf) on Aug 30. This means that the seller made an annualised profit of 4% over 21½ years.
Camelot By-The-Water, in District 15, comprises 99 units on a 99-year leasehold and was completed in 2000. It is a six-minute walk to the upcoming Tanjong Rhu MRT Station on the Thomson-East Coast Line.
A unit sold at Pebble Bay, also on Tanjong Rhu Road, made the third largest gain over the week, netting a 118% profit of $1.88 million for the seller. The 2,282 sq ft unit on the third floor had been bought in April 2001 for $1.6 million ($701 psf), and was sold for $3.48 million ($1,525 psf) on Aug 31. The seller therefore made an annualised profit of 4% over 20½ years.
Pebble Bay comprises 510 units on a 99-year leasehold and was completed in 1997. It is a two-minute walk to the upcoming Tanjong Rhu MRT Station.
Having sold a unit at Marina Bay Suites for $3.98 million ($1,926 psf) on Aug 30, the seller suffered a 17% loss of $813,000 (Credit: Samuel Isaac Chua/ The Edge Singapore)
On the other hand, the most unprofitable deal of the week was the resale of a 2,067 sq ft unit at Marina Bay Suites in District 1. Having sold the property for $3.98 million ($1,926 psf) on Aug 30, the seller suffered a 17% loss of $813,000. The unit was purchased in December 2009 for $4.79 million ($2,319 psf). Over a holding period of almost 12 years, this translates into an annualised loss of 2%.
Marina Bay Suites, on Central Boulevard, comprises 221 units on a 99-year leasehold and was completed in 2013. It is a two-minute walk to Downtown MRT Station on the Downtown Line.
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