SINGAPORE (EDGEPROP) – The seller of a unit to Hazel Park condominium, on Hazel Park Terrace, made the biggest gain of $ 2.41 million in the week of November 2-9. psf) on November 5. The seller therefore made a profit of 203%, or an annualized profit of 6% over nearly 20 years.
Read also: Penthouse in Hazel Park sold for $ 1.67 million profit
The 2,874 square foot unit on the 19th floor of Hazel Park Condominium was sold for $ 3.59 million (1,249 psf) on November 5 (Albert Chua / The Edge Singapore)
Located in District 23, Hazel Park condominium was completed in 2000 and comprises 696 units on a 999 year lease. It is a five-minute walk from the Cashew MRT station on the Downtown line.
The second largest gain in the week – a 45% profit of $ 1.97 million – was at A Devonshire, on Devonshire Road. The 2,400 square foot unit on the 25th floor was purchased for $ 4.35 million (1,812 psf) in July 2009 and sold for $ 6.32 million (2,633 psf) on November 3. This means that the seller made an annualized profit of 3% over 12 years.
A Devonshire, in District 9, comprises 152 freehold units and was completed in 2011. It is a six minute walk from Somerset MRT station on the north-south line.
A unit sold at an amber, along Amber Gardens in District 15, made the third largest gain during the week, making a 142% profit of $ 1.37 million for the seller. The 1,302 square foot seventh floor unit was purchased in January 2007 for $ 962,000 (739 psf) and sold for $ 2.33 million (1,790 psf) on November 3. The seller therefore made an annualized profit of 6% over nearly 15 years.
an amber comprises 562 freehold units and was completed in 2010. It is a four minute walk from the next Tanjong Katong MRT station on the Thomson-East Coast line.
A unit of The Scotts Tower was sold for $ 1.85 million (2,292 psf), resulting in a 38% loss of $ 1.12 million for the seller. (Samuel Isaac Chua / The Edge Singapore)
On the other hand, the least profitable transaction of the week was the resale of an 807 sq. Ft. Unit at Scotts Tower in District 9. After selling the property for $ 1.85 million (2,292 psf), the seller suffered a 38% loss of $ 1.12 million. The unit was purchased in February 2013 for $ 2.97 million (3,680 psf). Over a holding period of almost nine years, this translates into an annualized loss of 5%.
Scotts Tower, on Scotts Road, comprises 231 units on a 103-year lease and was completed in 2016. It is a four-minute walk from the Newton MRT Interchange station on the North-South and Downtown lines.
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