Four-bedder at Nassim 9 sold for $4.4 mil profit

The Oceanfront @ Sentosa Cove is a 99-year leasehold, ultra-luxury condo in the Sentosa Cove enclave in District 4. Situated on an island, the sea-facing condo was established by a mutual endeavor in between City Developments and TID (a partnership between Hong Leong Holdings together with Mitsui Fudosan) and even completed in 2010. The property consists of 5 towers ranging from 13 to 15 floors tall, as well as a total of 264 units. Unit sizes start from 1,216 sq ft for a two-bedroom apartment, going up to 8,095 sq ft for the largest penthouse.

The second-most rewarding deal for the week took place at The Oceanfront @ Sentosa Cove. A duplex penthouse gauging 5,985 sq ft on the 15th floor was cost $14.3 million ($2,389 psf) on Oct 28. The seller had acquired the unit for $11.5 million ($1,922 psf) in June 2009, which implies they brought in a $2.8 million (24.3%) revenue on the transaction after holding the real estate for 13 1/2 years.

Irwell Hill Residence City Developments Limited

The sale of a 3,423 sq ft unit at Nassim 9, a freehold project on Nassim Street in top Neighborhood 10, was one of the most rewarding agreement recorded throughout the week of Oct 25 to Nov 1. The four-bedroom unit, that altered hands for $11.2 million ($3,272 psf) on Oct 27, had actually been purchased by the vendor for $6.8 million ($1,987 psf) in October 2009, translating to a gain of $4.4 million, or 64.7%, over the 13-year holding duration.

Nassim 9, a shop deluxe property development finalized in 2002, has just eight units housed in a four-storey structure. It lies within walking distance of Orchard Blvd MRT Station (on the Thomson-East Coast Line), that is coming to open on Nov 13. The Botanic Gardens, Tanglin Mall and The Forum are also throughout strolling range.

The unit sold on Oct 27 clocked the greatest rate transacted at the property on both psf together with absolute bases. Prior to this, the most latest purchase at Nassim 9 occurred in April 2012 the moment a 3,143 sq ft unit was yielded $8.8 million ($2,800 psf), which at the same time regarded the previous psf- and absolute-price highs for the condominium.

The most unprofitable transaction filed for the week was the profit of a unit at Reflections at Keppel Bay, located along Keppel Bay View in District 4. On Oct 31, a unit measuring 2,379 sq ft on the 27th level fetched $4.3 million ($1,808 psf). The retailer had acquired the unit for $5.4 million ($2,278 psf) in May 2007. Therefore, they acquired a decline of 20.6% or $1.1 million over a 15 1/2-year keeping period.

Reflections at Keppel Bay is a 1,129-unit beachfront high-end property development by Keppel Land. The 99-year leasehold structure, with 6 non commercial towers as well as 11 accommodation residence blocks, was done in 2011.

The residence was among a number of secondhand units to be marketed below their acquisition costs in the last two years, according to information put together by the EdgeProp Investigation resource. The most unlucrative sale at the project happened in July 2020, when a 3,854 sq ft unit was realized $5.85 million ($1,518 psf), with the seller accumulating a loss of $4.8 million.

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