The owner of a unit located at the Nassim The Nassim, which is located on Nassim Hill has made the biggest gains of $2.6 million in the period of October 26 through Nov 2. The 3122 square feet apartment on the top floor purchased at $10.4 million ($3,332 per square foot) in February of 2018 and it was sold to a buyer for $13 million ($4,165 per square foot) on October 26. The seller thus made a 25% profit and an annualised gain that was 6% over the course of nearly four years.
Belgravia Ace Tong Eng Group established a number of the land parcels as properties which were leased to British troops stationed at Singapore in the early days in the history of Singapore.
It is located in District 10. The Nassim is completed 2015 and contains the freehold of 55 homes. It’s an eight-minute drive from Orchard MRT Station on the North-South Line.
The second-highest profit resale in the week under review with a 47% profit of $2 million was The Esta, located on Amber Gardens in District 15. The 3,477 square foot apartment on the 21st floor bought at $4.25 million ($1,222 per square foot) during July of 2012 and then sold at $6.25 million ($1,798 per sq ft) on the 29th of October. The seller earned an annualized income in the range of 4% over the course of nine years.
Esta includes 400 freehold units. It was completed in the year 2008. It’s just a 6-minute walk to the planned Tanjong Katong MRT Station on the Thomson East Coast Line.
A unit that was sold in the Martin Place Residences Martin Place Residences made the third highest gain of the past week, making 65% profit of $1.77 million. The 1,722 square feet apartment situated on the floor 30 was acquired by the developer in June of 2009, at $2.73 million ($1,587 per square foot) It was then the unit was sold at $4.5 million ($2,613 per sq ft) on the 27th of October. The seller thus made an annualized income of 4% for a total of nearly twelve and a half years.
Martin Place Residences located on Martin Place in District 9 includes 302 freehold units. It was completed in the year 2011. It’s just a short walk to the planned Great World MRT Station on the Thomson East Coast Line.
However, the most profitable transaction of the week was selling of a 2,530 square feet unit in Orchard View on Oct 27. After selling this property at $7.1 million ($2,807 per sq ft) the seller incurred the 18% decrease in the amount of $1.59 million. The property was bought in August of 2010 at $8.69 million ($3,434 per square foot). For a period over 11 years would translate to a loss per year of 2%.