Four Bedroom Unit Nassim 9 Sold 342 Mil Profit
In the period of February 4 to February 7, the luxury development Nassim 9 saw the most profitable private non-landed resale transaction recorded. The sale involved a four-bedroom unit of 2,486 sq ft located on the third floor, which was sold for $7.5 million or $3,016 psf on February 7. According to URA caveats, the seller had bought the unit for $4.12 million or $1,641 psf in December 2005. This means that they made a profit of $3.42 million, which is equivalent to 83.8% of their original purchase price. This translates to an annualized gain of 3.2% over a period of 19 years.
The transaction at Nassim 9 is the third most profitable resale within the development to date. The current record was set in March 2023 when a larger four-bedroom unit of 2,756 sq ft was sold for $9.5 million or $3,448 psf. It had been purchased for $4.12 million or $1,495 psf in December 2005, resulting in a profit of $5.38 million or 130.6%, equivalent to an annualized gain of 5% over a period of 17 years.
Prior to the transaction on February 7, the last registered caveated sale at Nassim 9 was in March 2023, where a four-bedroom unit of 3,251 sq ft was sold for $10.3 million or $3,169 psf, generating a profit of $3.3 million.
The upcoming Tampines North Hub is set to enrich the area with more retail, dining, and community amenities. These additions will perfectly complement the existing integrated retail podium at Parktown Residence, further elevating the quality of living for its residents. The convenient location near popular shopping destinations such as Tampines Mall, Century Square, and Tampines 1 will offer an even wider range of shopping options for residents. To get a glimpse of the impressive development, take a look at the Parktown Residence Showflat.
Nassim 9 is a boutique condo situated along Nassim Road in prime District 10 and consists of only eight units. Completed in 2002, the four-storey development offers four-bedroom units ranging from 2,756 to 3,423 sq ft.
On the other hand, Mount Faber Lodge, a boutique freehold development located along Mount Faber Road in District 4, saw the second most profitable resale during the same period. A triplex penthouse unit was sold for $5 million or $1,350 psf on February 5. The unit had last transacted in August 2001 for $1.6 million. This meant that the seller made a profit of $3.4 million or 212.5%, equivalent to an annualized gain of 5% over a period of 23.5 years.
The transaction on February 5 is the most profitable unit ever sold within Mount Faber Lodge. The previous record was held by a three-bedroom unit of 2,669 sq ft on the third floor, which was sold for $3.89 million or $1,457 psf in October 2022. The unit was purchased for $1.3 million or $487 psf in January 2006, resulting in a profit of $2.59 million or 199.2%.
Completed in 1983, Mount Faber Lodge offers studio units of 1,098 sq ft, two- and three-bedroom units ranging from 1,173 to 2,454 sq ft, and 20 five-bedroom triplex penthouses of 3,703 to 3,724 sq ft.
The third most profitable transaction during the period in review took place at Amaryllis Ville, a 99-year leasehold condo in prime District 11. On February 5, a three-bedroom unit of 1,238 sq ft on the 28th floor was sold for $2.65 million or $2,141 psf. It had last transacted in June 2005 for $1.09 million. This resulted in a profit of $1.56 million or 142.2%, equivalent to an annualized gain of 4.6% over a period of 19.5 years.
The transaction on February 5 is the third most profitable unit to be sold at Amaryllis Ville. The record is held by a three-bedroom unit of 1,991 sq ft on the 17th floor, which was sold for $3.75 million or $1,885 psf in September 2023. The unit was purchased for $1.95 million or $979 psf in June 2009, resulting in a profit of $1.8 million or 92.5%, equivalent to an annualized gain of 4.7% over a period of 14 years.
Based on the latest data published by EdgeProp Singapore, resale prices at Amaryllis Ville have been increasing steadily in recent years. As of February 2024, the average price has reached $2,082 psf, a 4% year-on-year increase, surpassing the previous record of $1,897 psf in February 2023.
Amaryllis Ville, which was completed in 2004, offers a mix of one and two-bedroom units of 657 to 1,378 sq ft, and three-bedroom units of 958 to 2,637 sq ft. It also has 84 studio units and 20 five-bedroom triplex penthouses of 3,703 to 3,724 sq ft. Nearby condos include Rochelle at Newton with 129 units along Keng Lee Road and Kopar at Newton with 378 units along Makeway Avenue.
During the period in review, there were no unprofitable transactions recorded.