Friday the 13th was a lucky day for five sellers
By Esther Hoon
/ The Edge Property |
Thirteen is not an unlucky number after all. Three condominium units and two landed homes were sold at a profit exceeding $1 million on May 13, which also happened to fall on a Friday.
Of the three condo units, the most profitable sold accrued to a 3,165 sq ft, four-bedroom penthouse at The Azure in Sentosa Cove, which netted a $1.2 million profit, or an annualised gain of 3%.
The seller had purchased the unit direct from the developer for $3.4 million ($1,072 psf) in October 2005 and resold it for $4.6 million ($1,438 psf) this year. This marked the first transaction in the project since 2014.
The second million-dollar deal was traced to a 1,668 sq ft, three-bedroom unit at Pinewood Gardens on Balmoral Park, a freehold condo in District 10. The home fetched $2.4 million ($1,438 psf) in May, resulting in a profit of $1.1 million, or an annualised gain of 4%. The seller purchased the unit in April 1999 for $1.3 million ($749 psf).
Also from District 10, a 1,399 sq ft, three bedroom unit at The Marbella on Mount Sinai Rise yielded a $1 million profit for the seller, who had held the unit for more than 11 years. He had purchased the unit direct from the developer for $943,000 ($674 psf) in January 2005 and offloaded it for $2 million ($1,394 psf) in May this year. The transaction reflects an annualised gain of 7%.
In the landed home segment, a semi-detached house on Taman Kembangan in District 14 fetched a $1.9 million profit on May 13. The annualised gain works out to 9%. On the same day, a terrace house on Jalan Waringin, also in district 14, was sold for $1.4 million profit, or an annualised gain of 9%.
A semi-detached house on Taman Kembangan in District 14 was sold for a $1.9 million profit
Conversely, only two properties were sold at a loss on May 13. A 1,195 sq ft unit at Fernwood Towers was sold at a $20,000 loss and a 689 sq ft unit at Regent Residences was sold at an $89,000 loss.
Besides the May 13 deals, a detached house on Chartwell Drive in District 19 fetched a $2.4 million profit on May 16, reflecting an annualised gain of 11%. The house sits on a 4,198 sq ft, 999-year leasehold site. It was purchased in 2005 at $307 psf of its land area and resold this year at $881 psf.
Meanwhile, St Regis Residences Singapore saw another deal in the red. A 3,757 sq ft unit changed hands at $2,223 psf on May 12, resulting in a $393,950 loss to the seller. The unit was purchased in June 2006 at $2,328 psf.
This article appeared in The Edge Property Pullout, Issue 731 (June 6, 2016) of The Edge Singapore.
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