Unit at Turquoise sold at $2.3 mil loss

EdgeProp Singapore

December 16, 2021



The most unprofitable deal of the week was the resale of a 2,153 sq ft unit at Turquoise on Sentosa island. Having sold the property for $3.45 million ($1,603 psf), the seller suffered a 40% loss of $2.32 million. The unit was purchased in October 2007 for $5.77 million ($2,681 psf). Over a holding period of 14 years, this translates into an annualised loss of 4%.



Turquoise, on Cove Drive in District 4, comprises 91 units on a 99-year leasehold and was completed in 2010. It is an 11-minute drive to Harbourfront MRT Interchange Station on the North-East and Circle Lines.

On the other hand, the seller of a unit at Hills Apartment, on Goldhill Avenue, made the top gain of $3.63 million over the week of Nov 30 to Dec 7. The 3,638 sq ft unit on the second floor was bought for $2.68 million ($735 psf) in April 2004 and sold for $6.3 million ($1,732 psf) on Dec 1. The seller therefore made a 136% profit, or an annualised profit of 5% over almost 18 years.

Located in District 11, Hills Apartment was completed in 1975 and comprises 10 freehold units. It is a six-minute drive to the upcoming Mount Pleasant MRT Station on the Thomson-East Coast Line.

Read more at: https://www.edgeprop.sg/property-new...ld-23-mil-loss