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

The second-most successful transaction for the week happened 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 vendor had purchased the unit for $11.5 million ($1,922 psf) in June 2009, which implies they brought in a $2.8 million (24.3%) profit on the deal after holding the property for 13 1/2 years.

The sale of a 3,423 sq ft unit at Nassim 9, a real estate development on Nassim Road in prime District 10, was one of the most highly profitable purchase documented 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 recently been acquired by the seller for $6.8 million ($1,987 psf) in October 2009, equating to an achieve of $4.4 million, or 64.7%, more than the 13-year retaining period.

The unit retailed on Oct 27 clocked the greatest rate worked out at the property on both psf together with absolute bases. Before this, one of the most current deal at Nassim 9 happened in April 2012 the moment a 3,143 sq ft unit was sold for $8.8 million ($2,800 psf), which also regarded the previous psf- and absolute-price highs for the apartment.

The apartment was just one of several resale units to be sold underneath their purchase rates in the last 2 years, according to information put together by the EdgeProp Research study resource. The most unprofitable transactions at the development occurred in July 2020, when a 3,854 sq ft unit was sold for $5.85 million ($1,518 psf), with the vendor accumulating a loss of $4.8 million.

One of the most unlucrative transaction recorded 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 brought $4.3 million ($1,808 psf). The retailer had bought the unit for $5.4 million ($2,278 psf) in May 2007. Hence, they acquired a loss 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 territory in District 4. Found on an island, the sea-facing condominium was established by a mutual venture in between City Developments and TID (a collaboration in between Hong Leong Holdings and Mitsui Fudosan) and completed in 2010. The project contains 5 towers varying from 13 to 15 floors tall, and also a total amount of 264 units. Unit dimensions start from 1,216 sq ft for a two-bedroom apartment, increasing to 8,095 sq ft for the largest penthouse.

Reflections at Keppel Bay is a 1,129-unit waterfront deluxe development by Keppel Land. The 99-year leasehold structure, with six housing towers and also 11 vacation home flat blocks, was completed in 2011.

Nassim 9, a shop deluxe property development completed in 2002, has only eight units property in a four-storey building. It rises within walking range of Orchard Boulevard MRT Terminal (on the Thomson-East Coast Line), which is coming to open on Nov 13. The Botanic Gardens, Tanglin Shopping Mall as well as The Forum are likewise throughout strolling proximity.

TMW Maxwell Singapore

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