http://www.theedgeproperty.com.sg/co...se-district-11
$4.7m profit for semi-detached house in District 11
By Esther Hoon / The Edge Property | May 21, 2016 8:00 AM MYT
Tags: Gains and LossesCondo/ApartmentLanded
The top gain based on URA caveats released on May 6 and 10 accrued to a freehold semi-detached house on Jalan Tempua in District 11. The house, which sits on a 4,338 sq ft land area, fetched $7.6 million ($1,752 psf on land) last month, yielding a profit of $4.7 million. The seller purchased the land in October 2003 for $2.9 million ($673 psf). The profit works out to an annualised gain of 8%.
Despite the hefty gains, the transacted price is more than 15% below that of 2013. In the vicinity of the subject property, a 4,392 sq ft semi-detached house was sold for $2,050 psf in August 2014. Separately, a 4,359 sq ft detached house was sold for $2,160 psf in February 2013, at the market’s peak.
In District 19, a seller netted a profit of $2.8 million, or 315%, from the sale of a terrace house on Brockhampton Drive. This translates into an annualised gain of 12%. The property sits on a 999-year leasehold plot of 2,799 sq ft. The seller had purchased the property in July 2003 at $880,000 ($315 psf on land) and resold it last month for $3.7 million ($1,306 psf).
In the non-landed housing segment, three freehold condominium units reaped more than $1 million in profit for their sellers last month. All three units had been held for more than 10 years.
A 2,196 sq ft three-bedroom unit at Diary Farm Estate was sold for $2 million ($911 psf) in April 2016, yielding $1 million in profit, or an annualised gain of 4%. The home was previously purchased for less than half the price, or at $439 psf, in July 1998. At Tanglin Park, one seller made a profit of $1.2 million from the sale of his 1,335 sq ft condo unit. He bought the three-bedroom home for $1.3 million ($981 psf) in August 1999 and resold it for $2.5 million ($1,888 psf) last month. All 11 homes sold at the project since 2014 have been profitable.
http://www.theedgeproperty.com.sg/co...se-district-11