What did you buy when you bought a HDB, EC, Pte, Landed?

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http://executivecondoschemeanalysis.pagedemo.co/

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Learn How This Singaporean Family Made $943,747 Profit By Buying An Executive Condo (EC)

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http://www.theedgeproperty.com.sg/content/hefty-loss-incurred-despite-19-year-holding-period

Hefty loss incurred despite 19-year holding period
By Feily Sofian / The Edge Property | October 21, 2016 10:13 AM MYT
Tags: Gains and Losses
334
A gains-and-loss analysis for the week of Oct 4 to 11 unearthed interesting deals. A 2,508 sq ft unit at Chelsea Gardens in prime District 10 was sold at a loss of $810,200, despite being held for more than 19 years. The unit was purchased from the developer in August 1997 for $1,838 psf and resold for $1,515 psf this month. The loss margin works out to 18%, or 1% annually.

Chelsea Gardens is a 40-unit freehold development on Stevens Road. Based on URA caveats, the developer sold 13 units in 1997, including the subject property, at an average price of $1,936 psf.




A 2,508 sq ft unit at Chelsea Gardens in prime District 10 was sold
at a loss of $810,200





Prices fell about 30% to $1,380 psf on average in 1999 after the Asian financial crisis. They rebounded to $1,802 psf on average in 2007, before dipping again the following year and have hovered in the $1,500-to-$1,600 psf range since. As a result, all resale transactions involving units bought in 1997 have resulted in hefty losses, ranging from $752,000 to $1.9 million.

Two units at Chelsea Gardens touched $2,000 psf back in 1997. Developments that have breached the $2,000 psf mark in the period include Ardmore Park, Cairnhill Apartment, Four Seasons Park, Gardenville, Richmond Park, St Thomas View and Scotts 28. Interestingly, a 1,292 sq ft unit at Gardenville fetched $4,094 psf in August 1997, according to URA caveat record.

Meanwhile, the highest loss in the week of Oct 4 to 11 amounted to $2.2 million. It accrued to a Good Class Bungalow on Margoliouth Road. The preceding caveat appears to be lodged for the purpose of bequeathing the property, though. The house was caveated for $20 million, or $1,572 psf on land area, in 2012 and resold for $17.8 million, or $1,399 psf, this month.

Separately, a 474 sq ft shoebox unit at NEWest, was flipped at a loss of $68,900 after being held for just three years. The unit was purchased from the developer in June 2013 at $748,900, or $1,581 psf. It changed hands in a sub-sale this month at $680,000, or $1,436 psf. The loss margin works out to about 9%, or 3% annually. The seller would also have incurred a 4% seller’s stamp duty (SSD) amounting to $27,200, bringing the total loss to $96,100.

The deal marked the second secondary market transaction in the development. In 2014, a 2,551 sq ft unit in the project also changed hands in a sub-sale at $2.28 million, or $894 psf. Although the deal netted the seller a profit of $52,950, the SSD payable would have amounted to $273,600, as the unit was held for just over a year. As a result, the seller is likely to have booked in a loss of $220,650. NEWest is a 956-year leasehold development on West Coast Drive comprising 141 commercial units and 136 residential units. Completed this year, it occupies the site of the former Hong Leong Garden Shopping Centre.

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