http://www.theedgeproperty.com.sg/co...cross-3500-psf

Units at Nassim Park Residences cross $3,500 psf
By Tan Chee Yuen / The Edge Property | May 25, 2016 12:00 PM MYT
Tags: Done DealsNassim Park ResidencesArdmore ParkArdmore Three

At Nassim Park Residences, a 100-unit luxury condominium on Nassim Road, two units changed hands recently. One unit is located on the fourth level of one of the five-storey blocks, while the other is directly below it. While both units fetched prices above $11 million, the fortunes of the sellers diverged.

The 3,175 sq ft, four-bedroom unit on the fourth level was sold for $11.7 million ($3,685 psf), according to a caveat lodged on May 5. The unit last changed hands for $10.9 million ($3,433 psf) in a sub-sale, based on the caveat in April 2011. Hence, the owner saw a gain of $800,000 (7.3%) after holding the property for five years. The previous owner paid $9.79 million ($3,082 psf) to the developer for the unit in August 2009.

The unit on the third level was sold for $11.2 million ($3,527 psf), based on a caveat lodged on May 10. The property last changed hands in a sub-sale for $12.38 million ($3,900 psf) in October 2011. Hence, the owner registered a loss of $1.18 million (9.5%) over a 4½-year period. Prior to that, the 3,175 sq ft unit had fetched $10.27 million ($3,233 psf) in June 2008.



http://www.theedgeproperty.com.sg/co...cross-3500-psf