Four-bedder at Nassim 9 sold for $4.4 mil profit
The sale of a 3,423 sq ft unit at Nassim 9, an estate project on Nassim Street in top Neighborhood 10, was one of the most successful transaction recorded throughout the week of Oct 25 to Nov 1. The four-bedroom unit, that changed hands for $11.2 million ($3,272 psf) on Oct 27, had recently been purchased by the seller for $6.8 million ($1,987 psf) in October 2009, equating to an achieve of $4.4 million, or 64.7%, throughout the 13-year holding duration.
The unit retailed on Oct 27 clocked the greatest rate negotiated at the property development on both psf and even absolute bases. Before this, one of the most current transaction at Nassim 9 occurred in April 2012 when a 3,143 sq ft unit was sold for $8.8 million ($2,800 psf), which at the same time registered the last psf- and absolute-price highs for the condominium.
Reflections at Keppel Bay is a 1,129-unit beachfront luxury development by Keppel Land. The 99-year leasehold project, with 6 housing towers and also 11 accommodation flat blocks, was done in 2011.
The Oceanfront @ Sentosa Cove is a 99-year leasehold, ultra-luxury apartment in the Sentosa Cove territory in District 4. Located on an island, the sea-facing residence was established by a joint endeavor in between City Developments and TID (a partnership between Hong Leong Holdings plus Mitsui Fudosan) and finished in 2010. The development contains 5 towers varying from 13 to 15 storeys tall, as well as a total amount 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 most unprofitable purchase reported for the week was the sale of a unit at Reflections at Keppel Bay, located along Keppel Bay View in District 4. On Oct 31, a unit measuring 2,379 sq ft on the 27th level brought $4.3 million ($1,808 psf). The seller had acquired the unit for $5.4 million ($2,278 psf) in May 2007. Hence, they acquired a decrease of 20.6% or $1.1 million over a 15 1/2-year holding period.
The apartment was among numerous resell units to be sold underneath their acquisition prices in the last 2 years, according to information put together by the EdgeProp Investigation resource. The most unprofitable transaction at the property development happened 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.
The second-most profitable transaction for the week occurred at The Oceanfront @ Sentosa Cove. A double penthouse measuring 5,985 sq ft on the 15th level was cost $14.3 million ($2,389 psf) on Oct 28. The owner had actually bought the unit for $11.5 million ($1,922 psf) in June 2009, which means they generated a $2.8 million (24.3%) revenue on the transaction after holding the real estate for 13 1/2 years.
Nassim 9, a shop luxury development finalized in 2002, has only 8 units property in a four-storey establishment. It rises within walking range of Orchard Blvd MRT Station (on the Thomson-East Coast Line), that is coming to start on Nov 13. The Botanic Gardens, Tanglin Mall as well as The Forum are also throughout walking distance.
