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

The second-most lucrative purchase for the week took place at The Oceanfront @ Sentosa Cove. A double penthouse determining 5,985 sq ft on the 15th floor was sold for $14.3 million ($2,389 psf) on Oct 28. The vendor had purchased the unit for $11.5 million ($1,922 psf) in June 2009, which implies they generated a $2.8 million (24.3%) earnings on the transaction after holding the property for 13 1/2 years.

The Oceanfront @ Sentosa Cove is a 99-year leasehold, ultra-luxury condo in the Sentosa Cove territory in District 4. Located on an islet, the sea-facing condominium was developed by a joint venture between City Developments and also TID (an alliance between Hong Leong Holdings plus Mitsui Fudosan) and finished in 2010. The project consists of 5 towers ranging from 13 to 15 storeys tall, and also a total amount of 264 units. Unit measurements start from 1,216 sq ft for a two-bedroom apartment, increasing to 8,095 sq ft for the largest penthouse.

The sale of a 3,423 sq ft unit at Nassim 9, a freehold property development on Nassim Road in prime Community 10, was the most highly profitable purchase recorded throughout the week of Oct 25 to Nov 1. The four-bedroom unit, that altered hands for $11.2 million ($3,272 psf) on Oct 27, had been acquired by the seller for $6.8 million ($1,987 psf) in October 2009, converting to an achieve of $4.4 million, or 64.7%, throughout the 13-year holding duration.

Sceneca Residences condo

Reflections at Keppel Bay is a 1,129-unit waterfront deluxe property by Keppel Land. The 99-year leasehold development, with 6 residential towers as well as 11 vacation home apartment blocks, was completed in 2011.

The condominium was one of several resale units to be sold underneath their acquisition costs in the last 2 years, according to details compiled by the EdgeProp Investigation tool. The most unprofitable sale at the 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 most unprofitable deal recorded for the week was the revenue 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 level fetched $4.3 million ($1,808 psf). The dealer had actually purchased the unit for $5.4 million ($2,278 psf) in May 2007. For this reason, they accumulated a loss of 20.6% or $1.1 million over a 15 1/2-year keeping period.

Nassim 9, a shop luxurious development finished in 2002, has only 8 units property in a four-storey establishment. It lies within walking range of Orchard Blvd MRT Terminal (on the Thomson-East Coast Line), which is coming to open on Nov 13. The Botanic Gardens, Tanglin Shopping Center and also The Forum are additionally within walking proximity.

The unit sold on Oct 27 clocked the greatest rate negotiated at the development on both psf and even outright bases. Prior to this, one of the most current transaction at Nassim 9 happened in April 2012 the moment a 3,143 sq ft unit was cost $8.8 million ($2,800 psf), which also marked the previous psf- and absolute-price highs for the condo.


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