reporter2
15-10-21, 12:19
‘Copper House’ flipped for $43.67 mil after two years
EdgeProp Singapore
April 23, 2021
https://i.imgur.com/ItmVkxS.png
SINGAPORE (EDGEPROP) - The trophy house at Sentosa Cove which earned the moniker of “Copper House” has changed hands for $43,666,000, according to a caveat lodged with URA Realis dated February 6. The price works out to $2,419 psf.
This latest transacted price is $11.67 million higher than the $32 million ($1,773 psf) that the seller, Taiwanese billionaire Chen Hsu had purchased the property for two years ago, notably, in April 2019. Chen is the co-founder of Dongguan, China-based Hsu Fu Chi International, a manufacturer of confectionery products.
As Chen has sold the property just two years after purchasing it, Chen is likely to incur a seller’s stamp duty of 8% on the transaction, which works out to $3.49 million. After deducting that amount, his gain is still an auspicious-sounding $8.18 million.
Read more at: https://www.edgeprop.sg/property-news/%E2%80%98copper-house%E2%80%99-flipped-4367-mil-two-years
EdgeProp Singapore
April 23, 2021
https://i.imgur.com/ItmVkxS.png
SINGAPORE (EDGEPROP) - The trophy house at Sentosa Cove which earned the moniker of “Copper House” has changed hands for $43,666,000, according to a caveat lodged with URA Realis dated February 6. The price works out to $2,419 psf.
This latest transacted price is $11.67 million higher than the $32 million ($1,773 psf) that the seller, Taiwanese billionaire Chen Hsu had purchased the property for two years ago, notably, in April 2019. Chen is the co-founder of Dongguan, China-based Hsu Fu Chi International, a manufacturer of confectionery products.
As Chen has sold the property just two years after purchasing it, Chen is likely to incur a seller’s stamp duty of 8% on the transaction, which works out to $3.49 million. After deducting that amount, his gain is still an auspicious-sounding $8.18 million.
Read more at: https://www.edgeprop.sg/property-news/%E2%80%98copper-house%E2%80%99-flipped-4367-mil-two-years