Helios Residences unit sold at $1.39 mil loss
By Angela Teo
/ EdgeProp |
A 1,701 sq ft, three-bedroom unit at Helios Residences changed hands for $3.98 million ($2,340 psf), according to a caveat lodged with URA Realis on Jan 8. The seller registered a $1.39 million loss, as the unit was purchased for $5.37 million ($3,158 psf) in July 2007, a month after Helios Residences was launched.
This transaction accounted for the highest loss among non-landed units sold between Jan 2 and 9. The recent buyer of the unit at Helios Residences is a Singaporean, according to URA caveat data.
The 140-unit freehold Helios Residences was completed in 2011, and with its cantilevered swimming pool and cascading greenery, it is one of the most outstanding developments in the prime Cairnhill area in District 9. The property is within walking distance of Paragon shopping centre and other malls along the Orchard Road shopping belt.
The freehold Helios Residences at Cairnhill Circle was completed in 2011. Find the most affordable listing in the project here. (Picture: Samuel Isaac Chua/The Edge Singapore)
Meanwhile, at Pandan Valley in District 21, a 3,089 sq ft, three-bedroom unit on the fifth floor of the freehold condominium changed hands for $2.8 million ($906 psf), according to a caveat lodged with URA Realis on Jan 8.
The three-bedroom unit was last sold for $1.73 million ($560 psf) more than 20 years ago, according to a caveat lodged in August 1997. Therefore, the seller realised a gain of $1.07 million, or 61.84%. The recent sale at Pandan Valley was considered the most profitable deal between Jan 2 and 9.
A 3,089 sq ft unit on the fifth floor of Pandan Valley condominium was sold at a $1.07 million (62%) profit. Find the most affordable listing in the project here. (Picture: Samuel Isaac Chua/The Edge Singapore)
Pandan Valley is a 623-unit development completed in 1977 and sits on a sprawling 871,884 sq ft site. There has been speculation as to whether the owners of Pandan Valley would embark on a collective sale, as the owners at the neighbouring Ridgewood Condo are now mulling over theirs.
According to the matching of URA caveat data as at Jan 16, most of the 23 transactions at Pandan Valley last year were sold at a profit; only one registered a slight loss. Developed by DBS Land, Pandan Valley comprises 606 residential and 17 commercial units.
This article appeared in the EdgeProp Pullout, Issue 814 (Jan 22, 2018)
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