Four-bedder at Nassim 9 sold for $4.4 mil profit
The unit retailed on Oct 27 clocked the highest price negotiated at the property development on both psf together with absolute bases. Prior to this, the most latest purchase at Nassim 9 happened in April 2012 the moment a 3,143 sq ft unit was yielded $8.8 million ($2,800 psf), which also regarded the last psf- and absolute-price highs for the condominium.
The Oceanfront @ Sentosa Cove is a 99-year leasehold, ultra-luxury condominium in the Sentosa Cove enclave in District 4. Located on an island, the sea-facing condominium was developed by a mutual venture between City Developments and TID (an alliance in between Hong Leong Holdings plus Mitsui Fudosan) and completed in 2010. The property consists of 5 towers ranging from 13 to 15 storeys high, and also a total amount of 264 units. Unit dimensions start from 1,216 sq ft for a two-bedroom condo, going up to 8,095 sq ft for the largest penthouse.
Nassim 9, a boutique high-end development finalized in 2002, has only eight units property in a four-storey structure. It is located within walking range of Orchard Blvd MRT Station (on the Thomson-East Coast Line), that is due to launch on Nov 13. The Botanic Gardens, Tanglin Shopping Center and The Forum are additionally throughout walking range.
The sale of a 3,423 sq ft unit at Nassim 9, a freehold property development on Nassim Street in prime Area 10, was one of the most highly profitable transaction documented throughout the week of Oct 25 to Nov 1. The four-bedroom unit, that transformed hands for $11.2 million ($3,272 psf) on Oct 27, had actually been bought by the vendor 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 retaining duration.
The apartment was just one of several resale units to be marketed below their acquisition costs in the last two years, according to information compiled by the EdgeProp Investigation tool. The most unlucrative transaction at the project took place in July 2020, when a 3,854 sq ft unit was sold for $5.85 million ($1,518 psf), with the vendor incurring a loss of $4.8 million.
One of the most unprofitable deal reported for the week was the revenue of a unit at Reflections at Keppel Bay, situated 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 accumulated a loss of 20.6% or $1.1 million over a 15 1/2-year holding duration.
The second-most successful purchase for the week took place at The Oceanfront @ Sentosa Cove. A paired penthouse determining 5,985 sq ft on the 15th level was reselled for $14.3 million ($2,389 psf) on Oct 28. The owner had purchased the unit for $11.5 million ($1,922 psf) in June 2009, which means they generated a $2.8 million (24.3%) earnings on the deal after holding the real estate for 13 1/2 years.
Reflections at Keppel Bay is a 1,129-unit beachfront luxury property by Keppel Land. The 99-year leasehold development, with 6 residential towers and also 11 vacation home flat blocks, was finished in 2011.