Unit at The Jade sold for $712,880 profit
By Timothy Tay/ EdgeProp Singapore|January 17, 2020 11:40 AM SGT
SINGAPORE (EDGEPROP) – The resale market began the year with profitable transactions at The Jade, a 99-year leasehold development on Bukit Batok Central Link, and Hillview Green, a 999-year development off Upper Bukit Timah.The most profitable transaction during the week of Dec 31 to Jan 7 was the sale of a 1,335 sq ft, three-bedroom unit at The Jade. The unit had been bought for $650,000 ($487 psf) in September 2005, and changed hands for $1.36 million ($1,021 psf) on Jan 6. This means the seller earned a $712,880 (110%) profit, or an annualised profit of 5% over 14 years.
The resale unit at The Jade in Bukit Batok was sold for $1.36 million on Jan 6. (Picture: Albert Chua/The Edge Singapore)
This transaction is also the most profitable one at the condo over the past three years, which recorded 18 resale transactions during that period. All of the resale transactions were profitable, with profits ranging from $20,000 to $712,880.
The Jade comprises 280 units of two to four bedrooms spanning 1,012 sq ft to 2,433 sq ft. It was developed by Sim Lian Group and completed in 2004. It is located beside West Mall shopping centre and Bukit Batok MRT Station on the North-South Line. The condo is also within 1km of Bukit View Primary School, Keming Primary School, Lianhua Primary School, and Princess Elizabeth Primary School. The second most profitable deal during the week in review occurred at Hillview Green on Hume Avenue. A 1,281 sq ft, three-bedroom unit fetched $1.35 million ($1,054 psf) when it was sold on Jan 7. It was bought for $695,000 ($543 psf) in April 1999. This means the seller earned a $655,000 (94%) profit on the sale, or an annualised profit of 3% over close to 21 years.
A 1,281 sq ft, three-bedroom unit at Hillview Green fetched $1.35 million on Jan 7. (Picture: Samuel Isaac Chua/The Edge Singapore)
Hillview Green is a 400-unit condo developed by City Developments and completed in 1998. It comprises a mix of two- to four-bedroom units of 958 sq ft to 1,722 sq ft. The development is located in the desirable District 21 neighbourhood off Upper Bukit Timah, and is close to Hillview MRT Station on the Downtown Line. The condo is also close to Bukit Timah Nature Reserve, Hindhede Nature Park, and Dairy Farm Nature Park. The most profitable resale transaction recorded at Hillview Green was the sale of a 1,593 sq ft, three-bedroom unit which earned the seller a $1.03 million (160%) profit when sold in August 2018. The unit was initially bought from the developer for $1.01 million ($635 psf) in November 1995. It was then sold for $643,000 (404 psf) in October 2006, and a third time for $1.67 million ($1,048 psf) in August 2018.
Also in District 21, the most unprofitable transaction during the week was the sale of a 947 sq ft, two-bedroom unit at Suites at Bukit Timah. The unit had been bought for $1.17 million ($1,235 psf) in December 2011, and changed hands at $998,000 ($1,054 psf) on Jan 2. This means the owner made a $172,000 (15%) loss on the sale, or an annualised loss of 2% over eight years.
The sale of a two-bedroom unit at Suites at Bukit Timah resulted in a $172,000 loss. (Picture: Albert Chua/The Edge Singapore)
Suites at Bukit Timah is a freehold boutique development on Jalan Jurong Kechil, and is less than 200m from Beauty World MRT Station on the Downtown Line. The 74-unit development was completed in 2014 and comprises one- and two-bedroom units of 344 sq ft to 1,066 sq ft. There have been 10 resale transactions at Suites at Bukit Timah, and based on the matching of URA caveats, nine are unprofitable with losses ranging from $5,000 to $192,000. The most unprofitable deal recorded for the condo was the sale of a 1,066 sq ft unit in December 2017. It was purchased for $1.23 million ($1,154 psf) in November 2012, and sold for $1.04 million ($974 psf) in December 2017. This means the seller made a $192,000 (15%) loss, or an annualised loss of 3% over five years.
Original Article: https://www.edgeprop.sg/property-news/unit-jade-sold-712880-profit
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