Unit at Marina Bay Residences turns in $5.47 mil profit
SINGAPORE (EDGEPROP) - The seller of a unit at Marina Bay Residences on Marina Boulevard made the top gain of $5.47 million over the week of Sept 5 to 14. The 4,489 sq ft unit on the 51st floor was bought for $13.88 million ($3,092 psf) in October 2013 and sold for $19.35 million ($4,311 psf) on Sept 7. The seller therefore made a 39% profit, or an annualised profit of 4% over almost eight years.
Read also: Corner one-bedroom unit at Marina Bay Residences going for $1.7 mil
The 4,489 sq ft unit on the 51st floor at Marina Bay Residences was sold for $19.35 million ($4,311 psf) on Sept 7 (Credit: Samuel Isaac Chua/ The Edge Singapore)
Located in District 1, Marina Bay Residences was completed in 2010 and has 428 units on a 99-year leasehold. It is a four-minute walk to Downtown MRT Station on the Downtown Line.
The second top gain made over the week — a 106% profit of $1.8 million — was at Grand Duchess at St Patrick’s, on St Patrick’s Road. The 2,573 sq ft unit on the fifth floor was purchased for $1.7 million ($661 psf) in October 2008 and sold for $3.5 million ($1,360 psf) on Sept 14. This means that the seller made an annualised profit of 6% over 13 years.
Grand Duchess at St Patrick’s, in District 15, comprises 121 freehold units and was completed in 2010. It is a two minute walk to the upcoming Marine Terrace MRT Station on the Thomson-East Coast Line.
A unit sold at Aspen Heights, on River Valley Road in District 9, made the third largest gain over the week, netting a 138% profit of $1.72 million for the seller. The 1,324 sq ft unit on the eighth floor was bought in July 2002 for $1.25 million ($944 psf), and sold for $2.97 million ($2,243 psf) on Sept 13. The seller therefore made an annualised profit of 5% over 19 years.
Aspen Heights comprises 606 units on a 999-year leasehold and was completed in 1998. It is an eight-minute walk to Fort Canning MRT Station on the Downtown Line.
Having sold a unit at Reflections at Keppel Bay for $11 million ($1,560 psf) on Sept 10, the seller suffered a 39% loss of $6.95 million (Credit: Samuel Isaac Chua/ The Edge Singapore)
On the other hand, the most unprofitable deal of the week was the resale of a 7,050 sq ft unit at Reflections at Keppel Bay in District 4. Having sold the property for $11 million ($1,560 psf) on Sept 10, the seller suffered a 39% loss of $6.95 million. The unit was purchased in May 2007 for $17.95 million ($2,550 psf). Over a holding period of more than 14 years, this translates into an annualised loss of 3%.
Reflections at Keppel Bay, located on Keppel Bay View, comprises 1,129 units on a 99-year leasehold and was completed in 2011. It is a seven-minute walk to Telok Blangah MRT Station on the Circle Line.
Check out the latest listings near Marina Bay Residences, Grand Duchess at St Patrick’s, Aspen Heights, Reflections at Keppel Bay, Downtown MRT Station, Marine Terrace MRT Station, Fort Canning MRT Station, Telok Blangah MRT Station
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