Posted on March 25, 2020
Unit At Botanic Gardens View Sees $2.14 Mil Profit
The very initial bargain at Botanic Gardens Sight this year came to be the most profitable handle the week of May 15 to 22, as disclosed by the matching of URA caveat data as at May 29. A 1,410 sq feet, three-bedroom system on the 6th floor of the 145-unit freehold innovation was set you back $3 million ($2,128 psf) on May 22, triggering a $2.14 million (249%) gain for the previous proprietor, who purchased it for $860,100 ($610 psf) in 2005. This equates into an annualised profits of 10% over a holding period of 12.9 years. Ended up in 1970, Botanic Gardens View is located at Taman Serasi, just off Cluny Roadway in prime Location 10. Located near reputable schools such as Raffles Girls' High School and also Crescent Girls' School, the development is a three-minute stroll to the Napier MRT terminal on the future Thomson-East Coast Line. The May 22 purchase is the most current in a collection of successful deals at the apartment. In 2014, 4 devices altered hands at a typical gain of $538,750 (53%). On April 4 in 2015, a 1,259 sq feet unit was sold for a $1.1 million (122%) earnings. Provide in the prime area is 999-year leasehold condominium The Tresor, where the seller of a 1,927 sq feet, four-bedroom device made a profit of $1.22 million (47%) on May 16. The unit on the third flooring was acquired in 2007, when it was just recently ended up, for $2.61 million ($1,353 psf). It was then sold for $3.83 million ($1,987 psf), or an annualised gain of 3% over a holding duration of 11.2 years. This is provide the preliminary transaction at the condominium this year. In 2017, there were 4 effective purchases, with revenues varying from $327,000 to $411,000, and additionally 3 unprofitable transactions, with losses ranging from $80,000 to $228,000.
The Tresor was established by Keppel Land. The five-storey, 62-unit development lies on Duchess Road, near the Tan Kah Kee MRT terminal on the Midtown Line. Throughout the week in evaluation, an acquisition that saw a mild loss was the sale of a three-bedroom system on the 19th floor of Cuscaden Residences, for $4.8 million ($2,311 psf), on Might 18. Having really obtained the 2,077 sq ft apartment for $5.5 million ($2,647 psf) in 2011, the vendor for that reason sustained a loss of $700,000. This notes the second purchase at the development this year, along with the second loss. In March, a 1,485 sq feet system on the 13th flooring was sold for $3.11 million ($2,100 psf). The vendor obtained it in September 2011 for $3.33 million ($2,242 psf) and also sustained a loss of $211,200 (6%), or an annualised loss of 1% over a holding duration of over 6 years. Located in prime Location 10 on Cuscaden Roadway, the 150-unit home Cuscaden Residences remains in the Orchard Street purchasing belt consisted of The Treasure At Tampines. The growth saw 4 fulfilling deals as well as 2 unlucrative acquisitions in 2014. Last August, the vendor of a 1,485 sq ft system earned a profit of $1.2 million (71%) when the system was cost $2.9 million ($1,952 psf). The system was bought for $1.7 million ($1,144 psf) in March 2003.