By Valerie Kor / EdgeProp Singapore | March 6, 2020 10:12 AM SGT
The seller of a resale unit at Dormer Park along Jervois Road made a 148% profit, or an annualised profit of 6% over nearly 17 years (Photo: Samuel Isaac Chua/EdgeProp)
SINGAPORE (EDGEPROP) – The seller of a unit at Dormer Park located on Jervois Road made the top gain of $2.03 million over the week of Feb 18 to 25. The 2,347 sq ft unit on the second floor was bought for $1.37 million ($584 psf) in May 2003 and sold for $3.4 million ($1,449 psf) on Feb 25. The seller, therefore, made a 148% profit, or an annualised profit of 6% over nearly 17 years. Dormer Park is located in District 10 and was completed in 1993 with 92 residential units. The freehold property in River Valley is a 14-minute walk to Redhill MRT Station on the East-West Line. The second top gain made over the week is a unit at The Anchorage in District 3. It netted a 126% profit of $1.77 million. The 2,077 sq ft unit on the 16th floor was bought at $1.4 million ($674 psf) in October 1995 and sold for $3.17 million ($1,526 psf) on Feb 20. This means that the seller made an annualised profit of 3% over a period of slightly more than 24 years.
The Anchorage is a freehold property with 775 units and 19 storeys completed in 1995. Located within a short drive to Anchorage Shopping Centre and IKEA Alexandra, it is a 10-minute walk to Queenstown Station on the East-West Line. A unit sold at Balmoral Hills along Balmoral Park in District 10 made the third-largest profit over the week, gaining 88% profit of $1.34 million for the seller. The 1,389 sq ft unit on the seventh floor was bought in September 2005 for $1.51 million ($1,091 psf) and sold for $2.85 million ($2,052 psf) on Feb 24. The seller, therefore, made an annualised profit of 4% over 14 years. Balmoral Hills is a freehold condominium that comprises 11 storeys and 62 units. It is a 21-minute walk to Stevens Station on the Downtown Line.
The greatest loss incurred over the week was from the resale of a 2,131 sq ft unit on the 26th floor at Skyline 360 @ Saint Thomas Walk (Photo: Samuel Isaac Chua/EdgeProp)
On the other hand, the greatest loss incurred over the week was from the resale of a 2,131 sq ft unit on the 26th floor at Skyline 360 @ Saint Thomas Walk. It was sold for $4.75 million ($2,229 psf) on Feb 25. The unit was bought in January 2013 for $5.05 million ($2,369 psf). The seller suffered a 6% loss of $300,000. Over a holding period of seven years, this translates to an annualised loss of 1%.
Skyline 360 @ Saint Thomas is a freehold condominium with 36 floors and 61 residential units. Completed in 2013, it is nine minutes by foot to Somerset MRT Station on the North-South Line.
If you are looking to sell or purchase properties in Singapore, our team members can help you with Affordability Assessment and Asset Progression Plan. Call us now at +65 86666 944 or +65 9844 4400