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04-09-23, 15:17
Seller rakes in $2.15 mil profit at Teresa Ville
August 24, 2023
https://i.imgur.com/A9iLRhs.jpg
The most profitable resale transaction over the week of Aug 8 to 15 was the sale of a 1,981 sq ft unit at Teresa Ville in District 4. The three-bedroom unit, on the 19th floor, fetched $3.15 million ($1,590 psf) on Aug 8. The unit had been bought for $1 million ($507 psf) back in June 1998. As a result, the seller raked in a profit of $2.15 million (213%) on the transaction, which translates to an annualised gain of 4.6% over 25 years.
This makes it the second most profitable sale at Teresa Ville. The record transaction was lodged this year when a 1,981 sq ft unit on the 17th floor changed hands for $3.28 million ($1,656 psf) on March 20. That unit had previously fetched about $960,800 ($485 psf) in April 2006. Thus, the sale of the unit set a record profit of $2.32 million (242%), or an annualised profit of 7.5% over 17 years.
Teresa Ville is a freehold condo on Lower Delta Road in the Bukit Merah area. The 264-unit development was completed in 1986. The development is next to CHIJ St Theresa’s Convent, Radin Mas Primary School and CHIJ (Kellock). It is also close to Mount Faber Park and the Southern Ridges. The area primarily consists of HDB estates along Telok Blangah Rise, Bukit Purmei Avenue and Jalan Bukit Merah.
According to a tabulation of resale caveats by EdgeProp Singapore, prices at Teresa Ville have recorded a steady and consistent increase over the past two decades. The average price was $578 psf in August 2003, before climbing to $974 psf in August 2013. This month’s average price is about $1,666 psf.
The newest private residential development in the vicinity is UOL Group’s Avenue South Residence on Silat Avenue. The 99-year leasehold condo was completed this year and comprises 1,074 units. When the project was launched in September 2019, the developer sold 276 units at a median price of $1,936 psf. According to developer sales data, Avenue South Residence was fully sold by September 2022 and achieved a median price of $2,465 psf.
The sale of a 1,690 sq ft unit at Park Infinia at Wee Nam on Aug 11 was the second-most profitable resale during the week in review. The four-bedroom unit was sold for $3.63 million ($2,148 psf), after it had fetched $1.72 million ($1,017 psf) in August 2006. The seller earned a profit of $1.91 million (111%) on the latest resale, which also translates to an annualised gain of 4.5% over 17 years.
More at: https://www.edgeprop.sg/property-news/seller-rakes-215-mil-profit-teresa-ville
August 24, 2023
https://i.imgur.com/A9iLRhs.jpg
The most profitable resale transaction over the week of Aug 8 to 15 was the sale of a 1,981 sq ft unit at Teresa Ville in District 4. The three-bedroom unit, on the 19th floor, fetched $3.15 million ($1,590 psf) on Aug 8. The unit had been bought for $1 million ($507 psf) back in June 1998. As a result, the seller raked in a profit of $2.15 million (213%) on the transaction, which translates to an annualised gain of 4.6% over 25 years.
This makes it the second most profitable sale at Teresa Ville. The record transaction was lodged this year when a 1,981 sq ft unit on the 17th floor changed hands for $3.28 million ($1,656 psf) on March 20. That unit had previously fetched about $960,800 ($485 psf) in April 2006. Thus, the sale of the unit set a record profit of $2.32 million (242%), or an annualised profit of 7.5% over 17 years.
Teresa Ville is a freehold condo on Lower Delta Road in the Bukit Merah area. The 264-unit development was completed in 1986. The development is next to CHIJ St Theresa’s Convent, Radin Mas Primary School and CHIJ (Kellock). It is also close to Mount Faber Park and the Southern Ridges. The area primarily consists of HDB estates along Telok Blangah Rise, Bukit Purmei Avenue and Jalan Bukit Merah.
According to a tabulation of resale caveats by EdgeProp Singapore, prices at Teresa Ville have recorded a steady and consistent increase over the past two decades. The average price was $578 psf in August 2003, before climbing to $974 psf in August 2013. This month’s average price is about $1,666 psf.
The newest private residential development in the vicinity is UOL Group’s Avenue South Residence on Silat Avenue. The 99-year leasehold condo was completed this year and comprises 1,074 units. When the project was launched in September 2019, the developer sold 276 units at a median price of $1,936 psf. According to developer sales data, Avenue South Residence was fully sold by September 2022 and achieved a median price of $2,465 psf.
The sale of a 1,690 sq ft unit at Park Infinia at Wee Nam on Aug 11 was the second-most profitable resale during the week in review. The four-bedroom unit was sold for $3.63 million ($2,148 psf), after it had fetched $1.72 million ($1,017 psf) in August 2006. The seller earned a profit of $1.91 million (111%) on the latest resale, which also translates to an annualised gain of 4.5% over 17 years.
More at: https://www.edgeprop.sg/property-news/seller-rakes-215-mil-profit-teresa-ville