Resale unit at Camelot By-The-Water reaps $1 mil profit
By Charlene Chin/ EdgeProp Singapore|February 14, 2020 7:58 AM SGT
The seller of a unit at Camelot By-The-Water, on Tanjong Rhu Road, made the top gain over the week of Jan 28 to Feb 4 (Credit: Albert Chua/ The Edge Singapore)
SINGAPORE (EDGEPROP) – The seller of a unit at Camelot By-The-Water, on Tanjong Rhu Road, made the top gain of $1 million over the week of Jan 28 to Feb 4. The 4,801 sq ft unit on the 14th floor was bought for $5.6 million ($1,166 psf) in February 2008 and sold for $6.6 million ($1,375 psf) on Jan 30. The seller, therefore, made an 18% profit, or an annualised profit of 1% over 12 years.Located in District 15, Camelot By-The-Water was completed in 2000 and comprises 99 units on a 99-year leasehold. It is a five-minute walk to the upcoming Tanjong Rhu MRT Station on the Thomson East-Coast Line, which is slated for completion in 2023.The second top gain made over the week – a 102% profit of $984,705 – was at the Caribbean at Keppel Bay, along Keppel Bay Drive. The 1,421 sq ft unit on the first floor was purchased for $965,295 ($679 psf) in September 2005 and sold for $1.95 million ($1,372 psf) on Jan 31. This means that the seller made an annualised profit of 5% over 14 years.ADVERTISEMENT
Caribbean at Keppel Bay, in District 4, comprises 969 units on a 99-year leasehold. It was completed in 2004 and is a 10-minute walk to Harbourfront MRT Station on the North-East and Circle Lines. A unit sold at One Leicester, along Leicester Road in District 13, made the third largest gain over the week, netting a 109% profit of $914,900 for the seller. The 1,249 sq ft unit on the 18th floor was bought in April 2006 for $840,100 ($673 psf), and sold for $1.76 million ($1,406 psf) on Jan 31. The seller therefore made an annualised profit of 5% over almost 14 years. One Leicester, completed in 2008, comprises 194 freehold units. It is a five-minute walk to Potong Pasir MRT Station on the North-East Line.
The greatest loss incurred over the week was from the resale of a 2,185 sq ft unit at Marina Collection in District 4 (Credit: The Edge Singapore)
On the other hand, the greatest loss incurred over the week was from the resale of a 2,185 sq ft unit at Marina Collection in District 4. Having sold the property for $3 million ($1,373 psf) on Jan 31, the seller suffered a 31% loss of $1.37 million. The unit was purchased in October 2012 for $4.37 million ($2,000 psf). Over a holding period of seven years, this translates into an annualised loss of 5%.
Marina Collection is a 124-unit project on a 99-year leasehold along Cove Drive. Completed in 2011, it is 10 minutes by car to Harbourfront MRT Station.
If you are looking to sell or purchase properties in Singapore, our team members can help you with Affordability Assessment and Asset Progression Plan. Call us now at +65 86666 944 or +65 9844 4400