Four-bedder at Nassim 9 sold for $4.4 mil profit

The Oceanfront @ Sentosa Cove is a 99-year leasehold, ultra-luxury apartment in the Sentosa Cove enclave in District 4. Situated on an island, the sea-facing condominium was established by a joint venture in between City Developments and TID (a partnership between Hong Leong Holdings together with Mitsui Fudosan) and completed in 2010. The property consists of five towers varying from 13 to 15 storeys high, as well as a total of 264 units. Unit dimensions start from 1,216 sq ft for a two-bedroom apartment, going up to 8,095 sq ft for the largest penthouse.

The second-most rewarding transaction for the week took place at The Oceanfront @ Sentosa Cove. A paired penthouse gauging 5,985 sq ft on the 15th level was cost $14.3 million ($2,389 psf) on Oct 28. The seller had acquired the unit for $11.5 million ($1,922 psf) in June 2009, which implies they brought in a $2.8 million (24.3%) profit on the proceeding after holding the real estate for 13 1/2 years.

One of the most unprofitable deal recorded for the week was the sale of a unit at Reflections at Keppel Bay, found along Keppel Bay View in District 4. On Oct 31, a unit estimating 2,379 sq ft on the 27th level brought $4.3 million ($1,808 psf). The seller had actually bought the unit for $5.4 million ($2,278 psf) in May 2007. For this reason, they accumulated a decrease of 20.6% or $1.1 million over a 15 1/2-year keeping period.

The Landmark Condo Chin Swee Road

The condominium was just one of several secondhand units to be marketed below their acquisition rates in the last two years, according to information gathered by the EdgeProp Research resource. The most unprofitable transactions at the property development occurred in July 2020, when a 3,854 sq ft unit was fetched $5.85 million ($1,518 psf), with the vendor sustaining a loss of $4.8 million.

The unit retailed on Oct 27 clocked the highest price negotiated at the property development on both psf and even outright bases. Prior to this, one of the most recent transaction at Nassim 9 happened in April 2012 when a 3,143 sq ft unit was sold for $8.8 million ($2,800 psf), which additionally marked the recent psf- and absolute-price highs for the condominium.

Nassim 9, a boutique luxurious property development completed in 2002, has only 8 units housed in a four-storey structure. It rises within strolling distance of Orchard Boulevard MRT Station (on the Thomson-East Coast Line), which is due to open on Nov 13. The Botanic Gardens, Tanglin Shopping Center and also The Forum are additionally within strolling distance.

The sale of a 3,423 sq ft unit at Nassim 9, a freehold project on Nassim Street in prime Neighborhood 10, was the best rewarding purchase reported during the week of Oct 25 to Nov 1. The four-bedroom unit, which changed hands for $11.2 million ($3,272 psf) on Oct 27, had been purchased by the vendor for $6.8 million ($1,987 psf) in October 2009, translating to an achieve of $4.4 million, or 64.7%, more than the 13-year retaining duration.

Reflections at Keppel Bay is a 1,129-unit beachfront deluxe property development by Keppel Land. The 99-year leasehold project, with 6 non commercial towers as well as 11 accommodation apartment blocks, was finished in 2011.

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