Four-bedder at Nassim 9 sold for $4.4 mil profit
The sale of a 3,423 sq ft unit at Nassim 9, a freehold development on Nassim Street in top District 10, was the best rewarding transaction reported during 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 been acquired by the owner for $6.8 million ($1,987 psf) in October 2009, converting to an acquire of $4.4 million, or 64.7%, throughout the 13-year holding period.
The apartment was just one of several resale units to be marketed below their acquisition prices in the last 2 years, according to information compiled by the EdgeProp Research study resource. The most unprofitable transaction at the project occurred in July 2020, when a 3,854 sq ft unit was realized $5.85 million ($1,518 psf), with the vendor sustaining a loss of $4.8 million.
The unit sold off on Oct 27 clocked the highest possible rate negotiated at the development on both psf together with absolute bases. Prior to this, one of the most recent purchase at Nassim 9 took place in April 2012 when a 3,143 sq ft unit was yielded $8.8 million ($2,800 psf), which also marked the last psf- and absolute-price highs for the condominium.
Reflections at Keppel Bay is a 1,129-unit beachfront luxury property by Keppel Land. The 99-year leasehold project, with 6 residential towers and 11 vacation home apartment blocks, was finished in 2011.
Nassim 9, a store high-end development finalized in 2002, has only eight units housed in a four-storey building. It lies within strolling range of Orchard Blvd MRT Terminal (on the Thomson-East Coast Line), which is coming to start on Nov 13. The Botanic Gardens, Tanglin Shopping Mall and also The Forum are also in just walking range.
The second-most profitable purchase for the week took place at The Oceanfront @ Sentosa Cove. A paired penthouse determining 5,985 sq ft on the 15th floor was marketed for $14.3 million ($2,389 psf) on Oct 28. The vendor had actually purchased the unit for $11.5 million ($1,922 psf) in June 2009, which implies they raked in a $2.8 million (24.3%) profit on the deal after holding the building for 13 1/2 years.
One of the most unlucrative deal recorded for the week was the sale 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 bought the unit for $5.4 million ($2,278 psf) in May 2007. Thus, they acquired a decline of 20.6% or $1.1 million over a 15 1/2-year holding period.
The Oceanfront @ Sentosa Cove is a 99-year leasehold, ultra-luxury condominium in the Sentosa Cove enclave in District 4. Situated on an islet, the sea-facing condo was built by a mutual venture in between City Developments and also TID (a collaboration in between Hong Leong Holdings plus Mitsui Fudosan) and even completed in 2010. The development consists of five towers ranging from 13 to 15 floors tall, as well as an overall of 264 units. Unit sizes begin with 1,216 sq ft for a two-bedroom condo, rising to 8,095 sq ft for the largest penthouse.