Four-bedder at Nassim 9 sold for $4.4 mil profit
The condominium was one of a number of resale units to be sold below their acquisition costs in the last 2 years, according to data gathered by the EdgeProp Research resource. The most unlucrative sale at the development took place in July 2020, when a 3,854 sq ft unit was realized $5.85 million ($1,518 psf), with the vendor accumulating a loss of $4.8 million.
The second-most successful purchase for the week occurred at The Oceanfront @ Sentosa Cove. A paired penthouse measuring 5,985 sq ft on the 15th level was cost $14.3 million ($2,389 psf) on Oct 28. The seller had actually acquired the unit for $11.5 million ($1,922 psf) in June 2009, which implies they brought in a $2.8 million (24.3%) earnings on the transaction after holding the property for 13 1/2 years.
The unit sold off on Oct 27 clocked the highest possible rate negotiated at the development on both psf and even absolute bases. Prior to this, the most current purchase at Nassim 9 happened in April 2012 when a 3,143 sq ft unit was sold for $8.8 million ($2,800 psf), which additionally registered the recent psf- and absolute-price highs for the condominium.
The most unprofitable deal filed for the week was the sale of a unit at Reflections at Keppel Bay, found along Keppel Bay View in District 4. On Oct 31, a unit measuring 2,379 sq ft on the 27th floor obtained $4.3 million ($1,808 psf). The retailer had actually bought the unit for $5.4 million ($2,278 psf) in May 2007. Hence, they acquired a loss of 20.6% or $1.1 million over a 15 1/2-year keeping period.
The sale of a 3,423 sq ft unit at Nassim 9, a freehold property development on Nassim Road in top Area 10, was one of the most successful agreement recorded throughout the week of Oct 25 to Nov 1. The four-bedroom unit, which altered hands for $11.2 million ($3,272 psf) on Oct 27, had been acquired by the vendor for $6.8 million ($1,987 psf) in October 2009, translating to an acquire of $4.4 million, or 64.7%, throughout the 13-year retaining duration.
Reflections at Keppel Bay is a 1,129-unit beachfront high-end property by Keppel Land. The 99-year leasehold project, with 6 non commercial towers as well as 11 vacation home residence blocks, was finished in 2011.
The Oceanfront @ Sentosa Cove is a 99-year leasehold, ultra-luxury condominium in the Sentosa Cove territory in District 4. Situated on an islet, the sea-facing condominium was built by a mutual venture between City Developments and TID (an alliance in between Hong Leong Holdings and Mitsui Fudosan) and completed in 2010. The project contains five towers ranging from 13 to 15 storeys high, and also a total of 264 units. Unit dimensions start from 1,216 sq ft for a two-bedroom apartment, increasing to 8,095 sq ft for the largest penthouse.
Nassim 9, a boutique high-end project finalized in 2002, has just eight units property in a four-storey establishment. It rises within strolling range of Orchard Boulevard MRT Terminal (on the Thomson-East Coast Line), which is coming to open on Nov 13. The Botanic Gardens, Tanglin Shopping Center and The Forum are also in just walking range.
