According to the latest available data, the seller of a unit in Scotts 28 on Scotts Road made the most profit of $1.79 million for the week of April 27 to May 4.
Consequently, the seller realised a profit of 55%, or a 2 percent annualised return over the course of 251/2 decades.
Scotts 28 is a residential development in District 9 that was built in 1998. It has a total of 136 freehold units. The Newton MRT Interchange Station, which serves the North-South and Downtown Lines, is a short eight-minute walk away.
Most profit
Together with Amber Road, the Sea View had the second greatest weekly gain, with a 163 percent rise in value of $1.75 million, making it the second most profitable. It was bought for $1.07 million ($760 per square foot) in August 2005 and offered for $2.82 million ($2,000 per square foot) on April 28.
The apartment is 1,410 square feet and is on the ground level of the building. This usually implies that the vendor made an annualised profit of 6 percent over a period of almost 16 decades.
A total of 546 freehold units were built in Sea Viewin District 15 when it was finished in 2008. You may walk to the future Marine Parade MRT station on the Thomson-East Coast Line in around seven minutes from here.
Unit sold at The Marbella, situated along Mount Sinai Rise in District 10, earned the third-largest gain of the week, netting the seller a $1.54 million profit, or a 151 percent return on his investment.
The 1,475 square foot apartment on the second floor was purchased for about $1.02 million ($692 per square foot) in February 2005, and it was sold for $2.56 million ($1,736 per square foot) on April 28. Consequently, the vendor made an annualised profit of 6 percent over the course of 16 decades.
Freehold near MRT
The Marbella is a freehold apartment building that was built in 2005 and contains 239 units. It is just seven minutes away from the Dover MRT Station on the East-West Line’s Dover Extension.
Paterson Hill the most profitable in the city
On the other side, the selling price of a 3,089-square-foot apartment at The Marq on Paterson Hill in District 9 was this week’s most unprofitable price, according to the data.
After selling the property for about $11.5 million ($3,723 per square foot) on April 29, the seller incurred a loss of $3.24 million, or 22 percent of the purchase price.
During the course of an approximately 14-decade holding period, this amounts to a 2 percent annualised decline. For more information on the Phoenix condo location. Please click on the link below
Completed in 2011, The Marq on Paterson Hill is a freehold apartment building situated along Paterson Hill in New York City’s Midtown East neighbourhood.
