7th floor unit at LE NOUVEL ARDMORE sold at $4,000 psf
On 22nd August, a second sale was recorded this year at the freehold 43-unit Le Nouvel Ardmore. The 4,004 sq ft unt on the 7th floor was sold at S$16.018 million (S$4,000 psf), the highest quantum sale for this week update of REALIS caveats. It was only the 5th caveat lodged at the project since private preview started back in 2015 when Alibaba co-founder Mr. Sun Tongyu was said to have bought the 32nd-floor penthouse for S$51 million that year.
Any sale by developer after the issuance of the Certificate of Statutory Completion and the Subsidiary Strata Certificates of Title or the Certificates of Title is classified as resale.
3 TRANSACTIONS GAINING MORE THAN A MILLION PROFIT
On 17th August, a 14th floor 3,649 sq ft unit at the freehold Regency Park was sold at S$6 million (S$1,644 psf), the biggest gain for non-landed this week. The seller bought his unit in January 2006 at S$3.8 million (S$1,041 psf). After factoring buyers’ stamp duty, he pocketed a cool S$2.09 million though the gain was only 53.5% or annualised 3.8% over a 11.6-year holding period, given the huge size of his unit.
Over at River Valley Close, a 1,668 sq ft 4th floor unit at the freehold 105-unit Euro-Asia Court was sold at S$2.2 million (S$1,319 psf) on 11th August. As the seller has bought the unit below the S$1 million mark, for only S$960K (S$575 psf) in January 2002, he walked away with a profit of S$1.2 million after deducting costs over a 15.6-year holding period.
The highest gain by percentage, from the week data, was a 6th floor unit at the freehold 32-unit Le Shantier. The 1,690 sq ft unit, located in the Novena Planning Area, was sold at S$1.75 million (S$1,036 psf), a new record absolute selling price for the project. The seller purchased the unit in December 1998 at S$705K (S$417 psf), translating into a 142.8% gain or annualised 4.9% over a holding period of almost 19 years.
ANOTHER LOSS OF OVER A MILLION AT SCOTTS SQUARE
On 16th August, another seller took a huge loss at the freehold Scotts Square. This was the 8th transaction that lost more than a million dollars since the turn of the year. The seller sold his 1,249 sq ft unit on the 14th floor at S$3.688 million (S$2,954 psf), incurring a loss of S$1.17 million after factoring buyers’ stamp duty. He bought the unit from the developer during launch in October 2007 at S$4.72 million (S$3,781 psf).
The project last witnessed a profitable transaction way back in September 2015.
Another significant loss for the week took place at the 99-year leasehold Icon along Gopeng Street. The 1,119 sq ft unit on the 45th floor was sold at S$1.88 million (S$1,679 psf) on 15th August. The seller bought it in January 2008 for S$2.6 million (S$2,323 psf), incurring almost a loss of S$800K after almost a holding period of 10 years.
For PDF version of this week issue, click here.
MOST PROFITABLE & NON-PROFITABLE RESALE TRANSACTIONS
TOP & BOTTOM 15 RESALE TRANSACTIONS BY ABSOLUTE QUANTUM
TOP & BOTTOM 15 RESALE TRANSACTIONS BY PSF
BREAKDOWN OF RESALE TRANSACTIONS BY DISTRICTS
For breakdown of all resale residential transactions as at 29th August by districts, click here.
Computed based on URA REALIS caveat data as at 29th August 2017.
1) The gain/loss computation includes costs such as Buyers’ Stamp Duty (3%) & Sellers’ Stamp Duty (depending on holding period). #N/A means there is no last matching caveat for the transaction.
2) For landed properties, the gain/loss computation excludes construction costs and additions & alternations works.
3) Weekly URA REALIS caveat data updates do include caveats lodged over a period of few months.
+ Sellers’ Stamp Duty of 8% – Holding period of more than 2 years and up to 3 years
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