Unit at Tiong Bahru Estate reaps $1.45 mil profit

February 24, 2022



SINGAPORE (EDGEPROP) - The seller of a unit at Tiong Bahru Estate, on Yong Siak Street, made the top gain of $1.45 million over the week of Feb 8 to 15. The 1,421 sq ft unit was bought for $2.65 million ($1,865 psf) in December 2016 and sold for $4.1 million ($2,886 psf) on Feb 10. The seller therefore made a 55% profit, or an annualised profit of 9% over five years.

Located in District 3, Tiong Bahru Estate was completed in 1967 and comprises 280 units on a 999-year leasehold. It is a five-minute walk to the upcoming Havelock MRT Station on the Thomson-East Coast Line.



The second top gain made over the week — a 100% profit of $1.02 million — was at The Stellar, on West Coast Road. The 1,389 sq ft unit on the third floor was purchased for $1.03 million ($738 psf) in April 2007 and sold for $2.05 million ($1,476 psf) on Feb 9. This means that the seller made an annualised profit of 5% over almost 15 years.

The Stellar, in District 5, comprises 162 freehold units and was completed in 2008. It is a six-minute drive to Kent Ridge MRT Station on the Circle Line.

A unit sold at The Regency At Tiong Bahru, along Chay Yan Street in District 3, made the third largest gain over the week, netting a 98% profit of $930,000 for the seller. The 926 sq ft unit on the 13th floor was bought in July 2009 for $950,000 ($1,026 psf), and sold for $1.88 million ($2,031 psf) on Feb 10. The seller therefore made an annualised profit of 6% over 12½ years.

The Regency at Tiong Bahru comprises 158 freehold units and was completed in 2010. It is a 10-minute walk to Tiong Bahru MRT Station on the East-West Line.



On the other hand, the most unprofitable deal of the week was the resale of a 1,238 sq ft unit at Cairnhill Residences in District 9. Having sold the property for $2.8 million ($2,262 psf), the seller suffered a 3% loss of $100,000. The unit was purchased in August 2012 for $2.9 million ($2,343 psf). Over a holding period of 9½ years, this translates into an annualised loss of 0.4%.

Read more at: https://www.edgeprop.sg/property-new...145-mil-profit