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Seller reaps $1.2 mil profit at Nassim 9
The upscale development Nassim 9 saw a highly profitable private non-landed resale transaction during the period between February 4 and February 7. The sale involved a four-bedroom unit on the third floor spanning 2,486 square feet, which was sold for $7.5 million, or $3,016 per square foot, on February 7. According to the Urban Redevelopment Authority (URA) caveats, the seller had previously bought the unit for $4.12 million, which translates to $1,641 per square foot, in December 2005. This means that they made a profit of $3.42 million, or 83.8% of their initial purchase price, which is equivalent to an annualised gain of 3.2%, over a period of 19 years.
Nassim 9 saw a four-bedroom unit spanning 2,486 square feet being sold for $7.5 million, reaping a profit of $3.42 million. (Photo: Samuel Isaac Chua / EdgeProp Singapore)
This transaction is the third most profitable resale at Nassim 9 to date. The current record was set in March 2023 when a larger four-bedroom unit spanning 2,756 square feet was sold for $9.5 million, or $3,448 per square foot. This unit was initially bought for $4.12 million, which translates to $1,495 per square foot, in December 2005. The seller made a profit of $5.38 million, or 130.6%, which is equivalent to an annualised gain of 5% over a period of 17 years.
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Before the unit sold on February 7, the last caveat transaction at Nassim 9 was in March 2023, when a four-bedroom unit of 3,251 square feet was sold for $10.3 million, or $3,169 per square foot. This generated a profit of $3.3 million for the seller. Nassim 9 is a boutique condo that only houses eight units and is situated along Nassim Road in the prime District 10. It was completed in 2002, and all their four-bedroom units are between 2,756 to 3,423 square feet.
Completed in 1983, Mount Faber Lodge is a boutique freehold development located along Mount Faber Road in District 4. (Photo: Samuel Isaac Chua / EdgeProp Singapore)
The second most profitable transaction in the same period occurred at the Mount Faber Lodge, which is a freehold development. A penthouse unit spanning three levels was sold for $5 million, or $1,350 per square foot, on February 5. The unit last changed hands for $1.6 million in August 2001, meaning that the seller made a profit of $3.4 million, or 212.5%, equivalent to an annualised gain of 5%, over a period of 23 and a half years.
This unit sold in February 5 is the most profitable unit to be transacted at Mount Faber Lodge to date. The previous record was held by a three-bedroom unit spanning 2,669 square feet on the third floor, which was sold for $3.89 million, or $1,457 per square foot, in October 2022. The unit was initially purchased for $1.3 million, or $487 per square foot, in January 2006. This means that the seller made a profit of $2.59 million or 199.2%, over a 14-year period.
Completed in 1983, Mount Faber Lodge is a boutique freehold development situated along Mount Faber Road in District 4. The condo has 84 units that consist of studio units which are 1,098 square feet, and two to three-bedroom units that are between 1,173 to 2,454 square feet. The development also has 20 triplex penthouses that are five-bedroom and are between 3,703 to 3,724 square feet.
The 311-unit Amaryllis Ville is situated along the Newton Road. (Photo: Samuel Isaac Chua / EdgeProp Singapore)
The third most profitable sale during the review period was of a three-bedroom unit at Amaryllis Ville, which is a 99-year leasehold condo situated in the prime District 11. The 1,238 square feet unit on the 28th floor was sold for $2.65 million, or $2,141 per square foot on February 5. It was sold for $1.09 million in June 2005. Therefore, the seller made a profit of $1.56 million, or 142.2%, equivalent to an annualised gain of 4.6% over a period of 19 and a half years.
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The unit sold in February 5 was the third most profitable transaction at Amaryllis Ville. The record is held by a three-bedroom unit spanning 1,991 square feet on the 17th floor, which was sold for $3.75 million, or $1,885 per square foot, in September 2023. This was initially bought for $1.95 million, or $979 per square foot, in June 2009. Therefore, the seller made a profit of $1.8 million, or 92.5%, equivalent to an annualised gain of 4.7% over a period of 14 years.
According to the data tabulated by EdgeProp Singapore, resale prices at Amaryllis Ville have been rising steadily in recent years. Based on a rolling 12-month average, the average price hit $1,897 per square feet in February 2023 before rising to $2,001 per square foot in February 2024. Last month, the average price reached $2,082 per square foot, which is a 4% year-on-year increase.
The 311-unit Amaryllis Ville is situated along Newton Road and was completed in 2004. The condo has a mix of one and two-bedroom units, which are between 657 to 1,378 square feet, and three-bedroom units, which are between 958 to 2,637 square feet. Amaryllis Ville has many nearby condos, including 129-unit Rochelle at Newton located along Keng Lee Road and 378-unit Kopar at Newton located along Makeway Avenue.
There were no unprofitable transactions during the review period. Check out the latest listings for Nassim 9 and Condominium properties in general, and ask Buddy for more information. Also, you can find Condo rental transactions in District 11 and the Condo projects with the most profitable transactions in District 10. You can also view the price trend chart for Nassim 9 and the Condo projects with the most unprofitable transactions in District 11. Lastly, you can browse the listings for Condo units here.