journo
12-09-22, 11:17
Four-bedder at Duchess Crest rakes in $1.64 mil profit
September 9, 2022
https://i.imgur.com/jKoROpa.jpg
The sale of a 2,088 sq ft, four-bedroom unit at Duchess Crest was the most profitable resale transaction during the week of Aug 23 to 30. The fourth-floor unit was sold for $3.45 million ($1,652 psf) on Aug 24. The unit was purchased for $1.8 million ($865 psf) back in July 2009. Thus, the seller earned a profit of $1.64 million (91%), which translates to an annualised profit of 5.1% over 13 years.
Duchess Crest is a 99-year leasehold condominium along Duchess Avenue, off Bukit Timah Road in prime District 10. The 251-unit development was completed in 1998. The condo comprises nine 4-storey residential blocks with a mix of two- to four-bedroom units that range from 936 to 4,263 sq ft.
The development is notable for its close proximity to several schools in the area. In particular, Duchess Crest is right beside Hwa Chong Institution. Other nearby schools include Raffles Girls’ Primary School, Nanyang Primary School, Nanyang Girls’ High School and National Junior College. The condo is also close to Tan Kah Kee MRT Station on the Downtown Line.
https://i.imgur.com/GLUuFzA.jpg
The 2,088 sq ft unit at Duchess Crest fetched $3.45 million ($1,652 psf) on Aug 24. (Picture: Samuel Isaac Chua/The Edge Singapore)
The resale transaction at Duchess Crest is the second most profitable sale that has been recorded so far at the condo. The record is currently held by a 1,711 sq ft four-bedder that fetched $2.58 million ($1,507 psf) in July last year. That unit had been bought for $920,518 ($538 psf) in December 2005. As a result, that seller walked away with a record $1.66 million (180%) profit, which translates to an annualised profit of 6.8% over 15 years.
Compared to the surrounding properties, Duchess Crest commands one of the lowest average selling prices in the area. According to data compiled by EdgeProp, the condo has an average asking price of $1,645 psf. The only development in the area with a lower average selling price — $1,574 psf — is Corona Ville, a freehold development on Jalan Haji Alias.
Units at nearby developments such as the 999-year leasehold Duchess Residences and freehold Casabella are selling for about $1,714 and 1,991 psf, respectively.
Read more at: https://www.edgeprop.sg/property-news/four-bedder-duchess-crest-rakes-164-mil-profit
September 9, 2022
https://i.imgur.com/jKoROpa.jpg
The sale of a 2,088 sq ft, four-bedroom unit at Duchess Crest was the most profitable resale transaction during the week of Aug 23 to 30. The fourth-floor unit was sold for $3.45 million ($1,652 psf) on Aug 24. The unit was purchased for $1.8 million ($865 psf) back in July 2009. Thus, the seller earned a profit of $1.64 million (91%), which translates to an annualised profit of 5.1% over 13 years.
Duchess Crest is a 99-year leasehold condominium along Duchess Avenue, off Bukit Timah Road in prime District 10. The 251-unit development was completed in 1998. The condo comprises nine 4-storey residential blocks with a mix of two- to four-bedroom units that range from 936 to 4,263 sq ft.
The development is notable for its close proximity to several schools in the area. In particular, Duchess Crest is right beside Hwa Chong Institution. Other nearby schools include Raffles Girls’ Primary School, Nanyang Primary School, Nanyang Girls’ High School and National Junior College. The condo is also close to Tan Kah Kee MRT Station on the Downtown Line.
https://i.imgur.com/GLUuFzA.jpg
The 2,088 sq ft unit at Duchess Crest fetched $3.45 million ($1,652 psf) on Aug 24. (Picture: Samuel Isaac Chua/The Edge Singapore)
The resale transaction at Duchess Crest is the second most profitable sale that has been recorded so far at the condo. The record is currently held by a 1,711 sq ft four-bedder that fetched $2.58 million ($1,507 psf) in July last year. That unit had been bought for $920,518 ($538 psf) in December 2005. As a result, that seller walked away with a record $1.66 million (180%) profit, which translates to an annualised profit of 6.8% over 15 years.
Compared to the surrounding properties, Duchess Crest commands one of the lowest average selling prices in the area. According to data compiled by EdgeProp, the condo has an average asking price of $1,645 psf. The only development in the area with a lower average selling price — $1,574 psf — is Corona Ville, a freehold development on Jalan Haji Alias.
Units at nearby developments such as the 999-year leasehold Duchess Residences and freehold Casabella are selling for about $1,714 and 1,991 psf, respectively.
Read more at: https://www.edgeprop.sg/property-news/four-bedder-duchess-crest-rakes-164-mil-profit