Unit at Leedon Residence reaps $2.9 mil profit
SINGAPORE (EDGEPROP) - The seller of a unit at Leedon Residence, located along Leedon Heights, made the top gain of $2.9 million over the week of July 6 to 13. The 4,704 sq ft unit on the seventh floor was bought for $9.6 million ($2,041 psf) in October 2017 and sold for $12.5 million ($2,657 psf) on July 13. The seller therefore made a 30% profit, or an an- nualised profit of 7% over almost four years. (See also: Unit at Grange Residences reaps $3.5 mil profit)
The 4,704 sq ft unit at Leedon Residence was sold for $12.5 million ($2,657 psf) on July 13 (Credit: Samuel Isaac Chua/ The Edge Singapore)
Located in District 10, Leedon Residence was completed in 2015 and has 381 freehold units. It is a five-minute drive to Holland Village MRT Station on the Circle Line.
The second top gain made over the week — a 27% profit of $2.25 million — was at St Regis Residences, located along Tanglin Road. The 4,069 sq ft unit on the 16th floor was purchased for $8.25 million ($2,028 psf) in April 2015 and sold for $10.5 million ($2,581 psf) on July 9. This means that the seller made an annualised profit of 4% over six years.
St Regis Residences, in District 10, was completed in 2008 and has 173 units on a 999-year leasehold. It is a seven-minute walk to the up- coming Orchard Boulevard MRT Station on the Thomson-East Coast Line.
A unit sold at Tanglin Park, located along Ridley Park in District 10, made the third larg- est gain over the week, netting a 141% profit of $1.99 million for the seller. The 1,604 sq ft unit on the third floor was bought in Novem- ber 2005 for $1.41 million ($879 psf), and sold for $3.4 million ($2,120 psf) on July 12. The seller therefore made an annualised profit of 6% over almost 16 years.
Tanglin Park comprises 274 freehold units and was completed in 1989. It is a four-minute drive to the upcoming Napier MRT Station on the Thomson-East Coast Line.
The most unprofitable deal of the week was the sale of a 2,788 sq ft unit at Marina Collection for $5.1 million ($1,830 psf) (Credit: The Edge Singapore)
On the other hand, the most unprofitable deal of the week was the resale of a 2,788 sq ft unit at Marina Collection in District 4. Hav- ing sold the property for $5.1 million ($1,830 psf) on July 9, the seller suffered a 32% loss of $2.38 million. The unit was purchased in January 2008 for $7.48 million ($2,684 psf). Over a holding period of 131⁄2 years, this trans- lates into an annualised loss of 3%.
Marina Collection, located along Cove Drive, comprises 124 units on a 99-year leasehold, and was completed in 2011. It is a 10-minute drive to Harbourfront MRT Interchange Station on the North-East and Circle Lines.
Check out the latest listings near Leedon Residence, St Regis Residences, Tanglin Park, Marina Collection, Holland Village MRT Station, Orchard Boulevard MRT Station, Napier MRT Station, Harbourfront MRT Interchange Station
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