Ground floor unit at THE HACIENDA sold at $3.17 million
The residential resale market continues to pick up pace.
On 11th Aug, a ground floor unit at the freehold The Hacienda was sold at S$3.17 million (S$982 psf), the biggest gain for non-landed for this week update of REALIS caveats. The 3,229 sq ft unit was bought in May 2006 at S$1.5 million (S$465 psf). After factoring buyers’ stamp duty, the seller made a tidy sum of S$1.63 million which translates into a 105.9% or annuallised 6.6% over a 11.2-year holding period.
The sale was a near new high by quantum at the project, crossing the S$3 million mark for the first time since 2008, when another similar 3,229 sq ft on the ground floor was transacted at S$3.18 million (S$985 psf) in June that year.
Over at Holt Road, a 2,056 sq ft 6th floor unit at the 46-unit Holt Residences was sold at S$3 million (S$1,459 psf) on 18th August, netting the seller a cool S$1.3 million profit after factoring buyers’ stamp duty. He had owned the property for almost 11 and a half year, having purchased it at S$1.64 million (S$798 psf) in March 2006.
Another noticeable profitable transaction was for a 29th floor unit at the freehold 234-unit Twin Regency. The seller made S$1.31 million, after factoring buyers’ stamp duty, when he sold the 1,776 sq ft unit at S$2.58 million (S$1,453 psf) on 17th August. He had purchased the unit at launch from UOL in June 2004 at S$1.237 million (S$696 psf), translating into a 103.4% gain or annualised 5.6% over a 13.1-year holding period.
The highest annualised gain, from the week data, was for a 4th floor unit at Kilat Centre. The seller sold his 1,259 sq ft apartment for S$1.15 million on 14th August, which translates into a whopping 179.3% gain or annualised 10.1% over a 10.6-year holding period. He bought the unit for only S$405,000 (SS$322 psf) back in December 2006.
After holding on for a decade, the seller of a 5,673 sq ft unit at The Edge on Cairnhill suffered almost S$2.5 million loss when he sold it at S$7.28 million ($1,283 psf) on 15th August.
On 18th August, a seller took a S$1.84 million loss when he sold his 3,950 sq ft unit on the 12th floor at Volari for S$5.7 million (S$1,443 psf) after factoring buyers’ stamp duty. The developer has sold him the unit at S$7.33 million (S$1,856 psf) in November 2009.
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 25th August by districts, click here.
Computed based on URA REALIS caveat data as at 25th August 2017.
1) The gain/loss computation includes costs such as Buyers’ Stamp Duty (3%) & Sellers’ Stamp Duty (depending on holding period).
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 4% – Holding period of more than 3 years and up to 4 years
++ Sellers’ Stamp Duty of 8% – Holding period of more than 2 years and up to 3 years
+++ Sellers’ Stamp Duty of 16% – Up to 1 year
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