Owner of Nassim Park Residences Gets $3.2M in Profit

Owner of Nassim Park Residences Gets $3.2M in Profit

The sale of a 4,833 sq ft device at Nassim Park Residences was the most lucrative purchase during the week of May 25 to June 1. The ground-floor house was acquired for $11.54 million ($ 2,387 psf) in June 2008 and also sold for $14.7 million ($ 3,042 psf) on May 28. This means that the owner earned a profit of $3.16 million (27%), which equates to an annualised earnings of 1.9% over 13 years. Please see freehold developments such as Belgravia Ace.

Nassim Park Residences was collectively created by Kheng Leong (the personal property arm of banking tycoon Wee Cho Yaw), listed home developer UOL Group and also Orix Capital. It lies on Nassim Road in prime District 10 and is close to the Nassim Road Good Class Bungalow (GCB) location, among one of the most special territories in Singapore.

The 4,833 sq ft unit at Nassim Park Residences was sold for $14.7 million ($ 3,042 psf) on May 28. The freehold development comprises 100 devices in five-storey blocks with a mix of four- and also five-bedroom apartments. Systems vary from 3,175 sq ft to 6,954 sq ft for top-floor systems.

One of the most rewarding resale purchase up until now at Nassim Park Residences was the sale of a 6,954 sq ft penthouse on the fifth floor for $24.11 million ($ 3,468 psf) in April 2011. The device was acquired for $18 million ($ 2,600 psf) in July 2008. The seller for that reason made a profit of $6.19 million (35%), or an annualised earnings of 11% over almost three years.

The second most profitable deal of the week occurred at Park Infinia at Wee Nam, where a 3,283 sq ft device was cost $6.5 million ($ 1,980 psf) on May 31. It was purchased for $3.94 million ($ 1,200 psf) in January 2007. Hence, the seller made a profit of $2.56 million (65%), or an annualised profit of 3.5% over almost 14 1/2 years.

Park Infinia at Wee Nam is a freehold condo located on Lincoln Road in prime District 11. The 486-unit advancement was completed in 2008 and also comprises two- to four-bedroom units of 560 sq ft to 3,315 sq ft. (See: Discover insightful information of any kind of Singapore condominium with our apartment directory site).

One of the most current resale transaction is the second most successful deal recorded at the growth. One of the most profitable offer was for a 3,240 sq ft system that was cost $5.1 million ($ 1,577 psf) in August 2017. It was acquired for $2.4 million ($ 741 psf) in August 2005. The seller as a result earned a profit of $2.7 million (112%), or an annualised revenue of 6% over 12 years.

 

On the other hand, the most unprofitable deal of the week happened at The Coast at Sentosa Cove. A 3,358 sq ft device was sold for $4.5 million ($ 1,340 psf) on May 28. It was purchased for $4.8 million ($ 1,355 psf) in May 2009. The vendor consequently made a loss of $300,000 (6%), or an annualised loss of 0.5% over 12 years. The most unlucrative offer of the week was the sale of a 3,358 sq ft system at The Coast at Sentosa Cove for $4.5 million.

 

There have been 9 resale purchases at The Coast at Sentosa Cove up until now this year, and 7 have caused unprofitable offers. The most unlucrative deal was for a 2,616 sq ft system that was cost $3.54 million ($ 1,357 psf) on March 3. It was purchased for $4.67 million ($ 1,780 psf) in September 2009. The vendor therefore made a loss of $1.13 million (24%), or an annualised loss of 2% over 11 years.

 

The second most unprofitable bargain of the week occurred at Paterson Suites, where a 1,776 sq ft unit was sold for $4.24 million ($ 2,393 psf) on May 27. The seller purchased the system for $4.44 million ($ 2,500 psf) in May 2012. This indicates that the owner made a loss of $190,000 (4%), or an annualised loss of 0.5% over 9 years. It is likewise the very first unlucrative resale transaction at the development until now this year.

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