SINGAPORE (EDGEPROP) - The top loss of the week during the week of Dec 29, 2020, to Jan 5, 2021, was incurred by the seller of a four-bedroom unit on the seventh floor at St Regis Residences Singapore in District 10. The 2,594 sq ft unit was bought in December 2007 for $8 million ($3,084 psf) and sold on Jan 5 for $4.8 million ($1,850 psf). The seller therefore saw a 40% loss of $3.2 million, which is annualised at 3.8% over 13 years.
St Regis Residences Singapore is a 173-unit condominium along Tanglin Road. Developed by City Developments, it is located next to The St Regis Singapore hotel and is a short drive to the Orchard Road shopping belt and Tanglin Mall. The 999-year leasehold project was completed in 2008.
The top loss of the week was incurred by the seller of a 2,594 sq ft unit at St Regis Residences Singapore (Photo: Samuel Isaac Chua/The Edge Singapore)
The second top loss was also incurred in District 10, at the 60-unit Orange Grove Residences. The seller of a 3,671 sq ft, four-bedroom duplex penthouse on the fifth floor saw a 25% loss of $1.96 million when the unit was sold at $5.95 million ($1,621 psf) on Jan 5. The unit was bought for $7.91 million ($2,155 psf) in February 2007. The loss is annualised at 2% over almost 14 years.
Orange Grove Residences is located along Orange Grove Road off Stevens Road, in a private enclave surrounded by premium hotels such as Mercure Singapore on Stevens, Novotel Singapore on Stevens and Shangri-La Hotel Singapore. It is also within a few minutes by car to Tanglin Mall and Orchard Road.
The seller of a three-bedroom unit at Pebble Bay at Tanjong Rhu Road in District 15 earned a profit of $1.48 million (Photo: Samuel Isaac Chua/The Edge Singapore)
On the other hand, the top gain of the week was made by the sale of a three-bedroom unit at Pebble Bay at Tanjong Rhu Road in District 15. The 1,894 sq ft unit on the eighth floor was bought in February 2003 for $1.13 million ($595 psf) and changed hands on Jan 5 for $2.61 million ($1,377 psf). The seller therefore earned a 131% profit of $1.48 million, which translates to an annualised profit of 4.8% over almost 18 years.
Pebble Bay, a 99-year leasehold development by CapitaLand, comprises 510 units. Located along the waterfront facing the CBD, it is a 10-minute walk to Stadium MRT Station on the Circle Line. The upcoming Tanjong Rhu MRT Station on the Thomson-East Coast Line, which is slated to be completed in 2023, will be next to it.
The second most profitable deal was the transaction of a 2,207 sq ft, three-bedroom duplex penthouse at The Calrose. The development is along Yio Chu Kang Road in District 26. The fifth-floor unit was bought in March 2006 for $931,354 ($422 psf) and sold on Jan 5 for $2.03 million ($920 psf). The seller therefore made a 118% profit of $1.1 million, which is annualised at 5.4% over close to 15 years.
The Calrose, a development by MCL Land, comprises 421 units spread across six 5-storey blocks. It was built in 2008 on freehold land. It is a six-minute drive to AMK Hub and nearby schools include Yio Chu Kang Secondary School and Anderson Serangoon Junior College.
The sale of a 1,292 sq ft three-bedroom unit on the fourth floor at Mera Springs in District 8 was the third most profitable deal over the week. The unit, which was bought in August 2006 for $868,224 ($672 psf), changed hands for $1.9 million ($1,471 psf) on Jan 5. The seller made a 119% profit of $1.03 million, which is annualised at 5.6% over 14½ years.
Mera Springs is a freehold condominium along Carlisle Road. Completed in 2008 by MCL Land, it comprises 129 units across 21 floors. The condominium is near Novena MRT Station and the malls surrounding it such as Velocity @ Novena, Square 2 and United Square Shopping Mall. It is also a short drive away from Farrer Park MRT Station and City Square Mall.
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