Seller racks up $1.87 mil profit at Rochelle at NewtonSeller inks $1.12 mil profit at Leedon Residence© Singapore Press Holdings Ltd. Image Sript
Nassim 9, a luxury development, saw the most profitable private non-landed resale transaction during the period of Feb 4 to Feb 7. The 2,486 sq ft, four-bedroom unit on the third floor was sold for $7.5 million, or $3,016 psf, on Feb 7. According to URA caveats, the seller purchased the unit for $4.12 million ($1,641 psf) in December 2005. This translates to a profit of $3.42 million, or 83.8% of their original purchase price. The annualised gain is 3.2% over 19 years.
The transaction at Nassim 9 is the third-most profitable resale transaction to date. The current record was set in March 2023 when a larger four-bedroom unit spanning 2,756 sq ft was sold for $9.5 million ($3,448 psf). It was bought for $4.12 million ($1,495 psf) in December 2005. The seller made a profit of $5.38 million (130.6%), or an annualised gain of 5% over 17 years.
The last caveated transaction at Nassim 9 prior to the one on Feb 7 was in March 2023, when a 3,251 sq ft, four-bedroom unit was sold for $10.3 million ($3,169 psf). It generated a profit of $3.3 million.
Housing only eight units, Nassim 9 is a boutique condo situated along Nassim Road in District 10. It was completed in 2002 and comprises four-bedroom units ranging from 2,756 to 3,423 sq ft.
Another profitable resale deal during the period was seen at Mount Faber Lodge, a boutique freehold development located along Mount Faber Road in District 4. A triplex penthouse unit was sold for $5 million ($1,350 psf) on Feb 5. It was last transacted in August 2001 for $1.6 million, earning a profit of $3.4 million (212.5%), or an annualised gain of 5% over 23½ years.
This is the most profitable unit sold at Mount Faber Lodge to date. The previous record was held by a three-bedroom unit spanning 2,669 sq ft on the third floor, which was sold for $3.89 million ($1,457 psf) in October 2022. It was purchased for $1.3 million ($487 psf) in January 2006. This translates to a profit of $2.59 million (199.2%), or an annualised gain of 4.7% over 14 years.
Completed in 1983, Mount Faber Lodge comprises 84 units ranging from studio units spanning 1,098 sq ft, two- and three-bedroom units from 1,173 to 2,454 sq ft, and 20 five-bedroom triplex penthouses sized between 3,703 to 3,724 sq ft.
The third-most profitable deal during the period was the sale of a three-bedroom unit at Amaryllis Ville, a 99-year leasehold condo in prime District 11. The 1,238 sq ft unit on the 28th floor was sold for $2.65 million ($2,141 psf) on Feb 5. It was last transacted in June 2005 for $1.09 million ($884 psf). The seller earned a profit of $1.56 million (142.2%), or an annualised gain of 4.6% over 19½ years.
This was the third-most profitable unit sold at Amaryllis Ville, with the record being a 1,991 sq ft, three-bedroom unit on the 17th floor sold for $3.75 million ($1,885 psf) in September 2023. It was bought for $1.95 million ($979 psf) in June 2009. This translates to a profit of $1.8 million (92.5%), or an annualised gain of 4.7% over 14 years.
Based on resale data tabulated by EdgeProp Singapore, resale prices at Amaryllis Ville have been steadily increasing in recent years. Based on a rolling 12-month average, the average price was $1,897 psf in February 2023 and rose to $2,001 psf in February 2024. Last month, it hit $2,082 psf, recording a 4% y-o-y increase.
Amaryllis Ville was completed in 2004 and comprises a mix of studio units ranging from 657 to 1,378 sq ft, two- and three-bedroom units from 958 to 2,637 sq ft, and 5-bedroom triplex penthouses from 3,703 to 3,724 sq ft. It is located along Newton Road and is surrounded by other condos such as Rochelle at Newton and Kopar at Newton.
There were no unprofitable transactions during the period, and the latest listings for condos in the area can be found at Nassim 9 and Condominium properties.