Yahoo Finance Resale unit at Boulevard Vue reaps $2.5 mil profit
The 4,478 sq ft, four-bedroom unit on the 17th floor of Boulevard Vue was sold for $17.5 million on July 8 (Credit: Samuel Isaac Chua/ EdgeProp Singapore)
The seller of a unit at Boulevard Vue made the top gain of $2.5 million over the week of July 2 to 9. The 4,478 sq ft, four-bedroom unit on the 17th floor was bought for $15 million ($3,350 psf) in April 2015 and sold for $17.5 million ($3,908 psf) on July 8. The seller made a 17% profit, or an annualised profit of 4% over four years.
Located in prime District 10, Boulevard Vue was completed in 2013 and comprises 28 freehold units. It is five minutes by foot to Orchard MRT Station on the North-South Line.
The second top gain made over the week – a 110% profit of $1.79 million – was at Casabella, on Duchess Avenue in District 10. The 3,078 sq ft unit was purchased for $1.62 million ($526 psf) in March 2005 and sold for $3.41 million ($1,108 psf) on July 5. This means that the seller made an annualised profit of 5% over 14 years.
Casabella comprises 82 freehold units across six storeys and was completed in 2005. It is located between the Sixth Avenue and Tan Kah Kee MRT stations on the Downtown Line.
A unit sold at Newton Suites, off Newton Road in District 11, made the third most profitable transaction over the week, netting a 122% profit of $1.43 million for the seller. The 1,238 sq ft, three-bedroom unit on the 29th floor was bought for $1.17 million ($945 psf) in November 2004, and sold for $2.6 million ($2,100 psf) on July 8. The seller therefore made an annualised profit of 6% over 15 years.
Newton Suites, completed in 2007, comprises 118 freehold units. It is a five-minute walk to Novena MRT Station on the North-South Line.
For price trends, recent transactions, other project info, check out these projects' details page: Boulevard Vue, Casabella, Newton Suites, and Aalto.
Having sold a 1,550 sq ft, three-bedroom unit at Aalto for $3.16 million on July 8, the seller sustained a 20% loss of $800,000 (Credit: Samuel Isaac Chua/ EdgeProp Singapore)
On the other hand, the greatest loss incurred over the week was from the resale of a 1,550 sq ft, three-bedroom unit at Aalto in District 15. Having sold the property for $3.16 million ($2,039 psf) on July 8, the seller sustained a 20% loss of $800,000. The unit was purchased in September 2011 for $3.96 million ($2,555 psf). Over a holding period of eight years, this translates into an annualised loss of 3%.
Aalto is a 196-unit, freehold project on Meyer Road. Completed in 2010, it is a one-minute walk to the future Tanjong Katong MRT Station on the Thomson-East Coast Line, which is due for completion in 2023.
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