At a loss of $3.78 million, a three-bedroom penthouse at Turquoise Sentosa was sold

Read more: The top ten transactions’ sizes in 2022 were 2.4% less than they were in 2021

The least profitable resale deal that took place in the week from December 27, 2022 to January 3 was the purchase of a 3,283 sq . ft penthouse with three bedrooms located at Turquoise in Sentosa Cove. The property was sold in the amount of $4.63 million ($1,410 per square foot) on December 27 the previous year. However, the unit was previously sold for $8.42 million ($2,564 per sqf) on November 7, 2007. This means that the seller suffered the loss of $3.78 million profit (45%), which amounts to an annualized cost that was 3.9% over 15 years.

Note an previous version stated that the $3.78 mil loss December 27, 2022 at Turquoise was the sale of a penthouse with four bedrooms. However, the property that was sold was an apartment with three bedrooms. We regret the mistake.

It is the second least profitable to date in 99 year leasehold condominium. The most significant loss is the sale of a 3,746 square feet, five bedroom penthouse unit for $4.4 million ($1,175 per square foot) in September of this year. It was purchased at $9.53 million ($2,545 per sq ft) on November 7, 2007. In the process, the seller suffered record $5.13 million loss. This is equivalent to an annualised cost in the range of 6.8% over 10 years.

Turquoise is among a few 99-year leasehold condominiums within Sentosa Cove. Sentosa Cove residential enclave. Although the majority of condos like Seascape, Cape Royale, The Oceanfront @ Sentosa Cove, and The Coast @ Sentosa Cove offer views of the sea The majority of units at Turquoise as well as the neighboring Marina Collection have views of the marina.

On the other hand that most lucrative resale sale this week included the purchase of 2,852 sq . ft four-bedroom apartment located at Nassim Mansion

in prime District 10. The property was sold for $9.28 million ($3,253 per sqf) on December 29 this year. It was bought at $5.89 million ($2,068 per square foot) during May 2007. This means that the seller walked out of the deal with an $3.38 million gain (57%), which is equivalent to an annual increase in the range of 2.9% over 15 1/2 years.

The sale also marks a record price for psf record for the development’s freehold and surpasses that previous mark set back in with selling a 3 412 sq . ft unit that cost $10.6 million ($3,107 per sq ft).

Nassim Mansion is located in an exclusive residential area which is located close to The Orchard Road shopping belt and the Singapore Botanic Gardens.

There were at most four resales in the Nassim Mansion last year, in accordance with the matching of URA conditions. The majority of transactions produced profits, including the sale on December 27. Two other deals involved the 2,852 square foot unit at $8.45 million ($2,962 per sq ft) in March 9 which brought in 87,000 in gain for the vendor as well as a 2,852 sq. feet unit that cost $8.19 million ($2,871 per square foot) the 27th of June which yielded an $2.4 million return for the owner.

In the case of Fifth Avenue Condominium The selling of an 1,604 square feet, two-bedroom unit on the 28th of December last year was the 2nd highest-profit deal of the time in review. The condo was purchased at $3.38 million ($2,107 per square foot). It was worth $1.05 million ($655 per square foot) at the end of May. The seller made an $2.33 million gain (222%), which amounts to an annualised increase that was 6.5% over 18 1/2 years.

Fifth Avenue Condominium is a freehold property in the District 10 area of the exclusive Bukit Timah neighbourFourth Avenue Residehood. The area has a lot of land housing estates. Luxury condominiums in the vicinity comprise Royalgreen as well as Fourth Avenue Residences as well as nearby commercial developments that comprise Guthrie House, Sixth Avenue Centre along with The Grandstand at Turf Club Road.

According to URA cautions the sale of the property on Dec 28, at Fifth Avenue Condo is also the second-highest profit resale that the development has had to date. It’s just short of the profits of $2.69 million that was earned in selling a 217 square area unit for $4.19 million ($1,894 per square foot) at the end of March in 2020. Prior to that, the unit was purchased at $1.51 million ($681 per square foot) during September of 2004. The result was an of 178% profit, which amounts into an annualized increase that was 6.8% over 15 years.