THE COSMOPOLITAN hits $2,215 psf
On 10th Aug, a 33rd floor unit at The Cosmopolitan was sold for $3.1 million ($2,215 psf), the biggest gain for non-landed this week. Based on the last matching caveat, the seller had purchased the unit from the developer in May 2006 at $1.896 million. After factoring buyers’ stamp duty, he made a profit of $1.15 million which translates into a 59.1% gain or annualised 4.2% over a 11.2-year holding period. The sale surpassed the $2,200 psf mark for the first time, since May 2013 when a larger 1,679 sq ft 30th floor unit was sold for $3.7 million ($2,203 psf).
The highest annualised gain, in the week of 18th August caveat data, was for a 13rd floor unit at Lucky Plaza. The seller sold his 829 sq ft apartment for $1.55 million, which translates into a whopping 144.8% gain or annualised 8.6% over almost a holding period of 11-year. He bought the unit for $620,000 back in October 2006.
A 99-year leasehold 1,905 sq ft unit at Hillcrest Arcadia was sold at $1.638 million ($860 psf) on 28th July, more than double the purchase price of $765,000 when the seller bought it in June 1999. Another sizeable gain for a 99-year leasehold property happened at Clementiwoods Condo. The 1,625 sq ft second floor unit was sold for $1.7 million on 4th August. The seller bought the unit at launch for $895,500 in January 2007. After factoring buyers’ stamp duty, he realised a profit of $783K which translates into a 85.4% gain or annualised 6% over a 10.5-year holding period.
Over at Sentosa Island, the seller of a house at Pearl Island suffered a huge $4.6 million loss, when he sold his 7,007 sq ft property for $11.288 million on 13th July after holding on for almost 7 years. The caveat was just lodged recently.
For PDF version of this week issue, click here.
TOP 15 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 18th August by districts, click here.
Computed based on URA REALIS caveat data as at 18th 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 12% – Holding period of more than 1 year and up to 2 years
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