Four-bedder at One Jervois sold for $1.7 mil profit
/ EdgeProp Singapore |
SINGAPORE (EDGEPROP) - The sale of a four-bedroom unit at One Jervois was the most profitable transaction for the week of Nov 29 to Dec 6. The 2,971 sq ft unit was sold for $5.45 million ($1,834 psf) on Nov 30. The unit was purchased for $3.75 million ($1,262 psf) in May 2008. Hence, the seller made a gain of $1.7 million or 45.3% over a 14½-year holding period.
The sale is the third-most profitable transaction to occur at the development, according to data compiled on the EdgeProp Research tool. The most profitable transaction occurred in February 2014, when a 2,777 sq ft unit was sold for $4.6 million ($1,656 psf), netting the seller a profit of $2.11 million. In March 2011, a 4,542 sq ft penthouse unit fetched $6 million ($1,321 psf), with the seller enjoying a profit of $1.96 million.
The 2,971 sq ft unit at One Jervois was sold for $5.45 million ($1,834 psf) on Nov 30 (Picture: Samuel Isaac Chua/The Edge Singapore)
One Jervois is a freehold condominium by Frasers Property located off Jervois Road in prime District 10, opposite the High Commission of Malaysia. Completed in 2009, it has 275 units, consisting of studio units and one- to four-bedroom apartments. Designed by ADDP Architects, the development comprises two 12-storey blocks. The development is within walking distance of the Valley Point shopping mall and within a 1km radius of schools such as Alexandra Primary School and Crescent Girls’ School.
Another condominium in District 10, The Tessarina, saw the second-most profitable transaction during the week when a 1,313 sq ft unit changed hands for $2.9 million ($2,208 psf) on Dec 1. The seller had acquired the three-bedroom unit in October 2000 for $1.38 million ($1,051 psf), which means they made a gain of 110.1% or $1.52 million over a holding period of slightly over 22 years.
The unit sold on Dec 1 also marked a new psf-price high for the development, surpassing the previous high of $2,132 psf set on Nov 18 when a 1,313 sq ft unit was sold for $2.8 million.
A 1,313 sq ft unit at The Tessarina was sold for $2.9 million ($2,208 psf) on Dec 1, resulting in a gain of $1.52 million for the seller (Picture: Samuel Isaac Chua/The Edge Singapore)
The Tessarina is a freehold development by Wing Tai Holdings that was completed in 2003. It is located on Wilby Road, just off Bukit Timah Road. The 443-unit development has a mix of two- to four-bedders of 926 to 3,670 sq ft.
Meanwhile, the most unprofitable transaction recorded during the week in review was the sale of a 1,313 sq ft, two-bedroom unit at Helios Residences. The 19th-floor unit fetched $3.22 million ($2,452 psf) on Dec 1. It was previously acquired from the developer in July 2007 for $4.15 million ($3,157 psf), which means the seller suffered a loss of about $926,000 (22.3%) over a holding period of nearly 15½ years.
Helios Residences is a 140-unit freehold development by Wing Tai Holdings that was completed in 2011. Located along Cairnhill Circle in prime District 9, it is close to the Orchard Road shopping belt and Newton area. The development comprises two and three-bedroom units of 1,281 to 2,002 sq ft. There are also penthouse units from 3,993 to 4,629 sq ft.
The seller of a two-bedder at Helios Residences made a loss of about $926,000 when it was sold for $3.22 million ($2,452 psf) on Dec 1 (Picture: Samuel Isaac Chua/The Edge Singapore)
Based on data compiled on EdgeProp Research, Helios Residences has seen several resale units transacted below their respective purchase prices over the last two years. The most unprofitable transaction occurred in November 2020, when a 4,629 sq ft penthouse unit changed hands for $8.4 million ($1,815 psf). The unit had been bought for $14.5 million ($3,133 psf) in May 2014, which means the seller made a loss of $6.1 million.
Check out the latest listings near One Jervois, The Tessarina, Helios Residences, Alexandra Primary School, Crescent Girls’ School
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