A highly profitable resale sale in the month of March 7-14 took place on Nassim 9 in the form of selling a 3251 sq. ft ground-floor unit at $10.3 million ($3,169 per square foot) in March 10. The unit was bought at $7 million ($2,153 per sq ft) earlier in the month of January of 2011. In the end, the seller made the seller a $3.3 million (47%) profit on the deal, which amounts into an annualised gain that was 3.2% over 12 years.
Pinetree Hill launch price placed the winning bid of $671.5 million, equivalent to $1,318 per square foot per plot ratio (psf ppr). The price was $800 more than the second bid among the five bids submitted for Pinetree Hill.
Nassim 9 is a posh eight-unit condominium on Nassim Road in the District 10. The development, which is four stories tall, has been completed since 2002 and has four bedrooms ranging from 2,756 to 3,423 square feet.
It is situated within Nassim 9 is located in the Exclusive Nassim Road residential enclave, Nassim 9 is just a short walk from Tanglin Mall as well as other malls that are located on the Orchard Road shopping belt. The luxurious residential developments that surround Nassim 9 comprise Nassim Park Residences Nassim jade, the Tanglin Residences 19 Nassim and Les Maisons Nassim.
According to URA cautions that the most lucrative resale of Nassim 9 occurred on March 1. The sale was of a 2756 square foot unit located on the third floor. It was worth $9.5 million ($3,448 per square foot). The unit was purchased at $4.12 million ($1,495 per sq ft) at the end of December. The seller made an unprecedented $5.38 million (130%) profit, that’s an annualised return of 5% over the span of 17 years.
The second-highest profit sale during the week was the 2,820 square feet unit in Cairnhill Plaza which changed hands for $5.38 million ($1,908 per square foot) in March 9. The unit was valued at $2.6 million ($922 per sq ft) at the time it was put available for sale in 1997. The seller earned the sum of $2.78 million (107%) profit, which is equivalent to an annual income that was 2.9% over 25 years. It is also the longest time a property located at Cairnhill Plaza has been held by an owner.
The record for the highest-profit sale on Cairnhill Plaza is for a 3,305 sq ft apartment that was purchased to the buyer for $5.75 million (1,740 per square foot) in March of 2010. The unit was bought by the buyer for 2 million ($605 per square foot) during 1999. The seller raked in the record $3.75 million (187%) profit, which amounts to an annual gain of nine% over the course of 11 years.
Cairnhill Plaza is a freehold condominium located on Cairnhill Road in prime District 9. The 204-unit development consists of two towers with a 30-storey height and the unit mix is comprised of three and four-bedroom units ranging from 2,293 to 3,305 square feet. The entire project is completed by the year 1978, and is approximately forty-five years old.
The condo’s location near its location on the Orchard Road shopping belt means that it’s close to a number of prominent shopping malls as well as hotels, including The Paragon, Ngee Ann City, Ion Orchard, Singapore Marriott Tang Plaza Hotel and the recently inaugurated Pullman Singapore Orchard along with Hilton Singapore Orchard.
Despite its central position however, the age of the development has been a slight price impact for Cairnhill Plaza. Based on caveats, median price for Cairnhill Plaza is around $1,894 per square foot.
On the other hand the most profitable deal of the week was the auction of a 1,528 square foot three-bedroom apartment located at V located on Shenton. The unit, located at the 39th level, was auctioned off at $3.09 million ($2,021 per square foot) on March 10. It was bought at $3.34 million ($2,187 per sq ft) at the end of April. The seller suffered losses of around $250,000 (8%), which amounts to an annualized cost that was 0.7% over nearly 11 years.
V Shenton is a 99-year leasehold condominium located situated on Shenton Way within District 1 the financial center of Singapore’s central district. The 510-unit condominium forms the residential part of a mixed-use projectcomprised of a 54-story residential tower as well as a 23-story office building. The entire project was completed in the year 2017.
Nearby commercial developments near V on Shenton include OUE Downtown, CapitaSky, SGX Centre, Asia Square Tower 1 and 2 and the soon-to-be IOI Central Boulevard Towers. It was recently finished Shenton Way MRT Station located on the Thomson-East Coast Line also sits at the bottom of V on Shenton.
Five resales have occurred on the floor of V on Shenton to date that range from a 484 square feet apartment located on the 25th floor which was sold at $1.04 million ($2,143 per square foot) on January 16 to a 1,755 sq. ft unit located on the 50th floor, which brought $4.06 million ($2,314 per sq ft) on March 1.
The most profitable resale for V Shenton is Shenton is selling a 1 98 square feet unit on the 28th floor, for $2 million ($1,822 per sq ft) the 14th of April 2022. The unit was purchased at $2.43 million ($2,211 per square foot) on July 13, 2013. The seller was able to record a loss of 4277,000 (18%), which amounts to an annualized decrease in the range of 2.1% over eight years.