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Thread: $4.7m profit for semi-detached house in District 11

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    Default $4.7m profit for semi-detached house in District 11

    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

  2. #2
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    Dont read too much into the numbers. Cost such as rebuilding and A&A are often left out of the equation to inflate profit.

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    teddybear is offline Global recession is coming....
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    Old news, the price must have been down another >3% since then?
    Landed is another segment crashing............
    Still waiting for last shoe (OCR private condos) to drop............

    Quote Originally Posted by Kevin Tan View Post
    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

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    Quote Originally Posted by teddybear View Post
    Old news, the price must have been down another >3% since then?
    Landed is another segment crashing............
    Still waiting for last shoe (OCR private condos) to drop............
    landed already crashed. so many fire sales since Jan. we just bought 1 in serangoon garden. but firesales also slowing down or alsmost gone liao as the developers are exiting.

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    can share what is the selling price at serangoon garden.

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    Quote Originally Posted by Arcachon View Post
    can share what is the selling price at serangoon garden.
    Price varies from house to house. Firesales mean developers bought the land and after rebuild, selling price can barely covers the cost. Sometimes at huge loss like 1mio

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    ic thanks

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