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Nassim 9, a luxury development located on Nassim Road, made headlines during the period of February 4 to 7 with the most profitable private non-landed resale transaction recorded. A 2,486 sq ft, four-bedroom unit located on the third floor was sold for $7.5 million, or $3,016 per square foot (psf), on February 7.
According to data from the Urban Redevelopment Authority (URA), the seller had purchased the unit for $4.12 million, or $1,641 psf, in December 2005. This means that the seller reaped a profit of $3.42 million, or 83.8% of their original purchase price. This translates to an annualised gain of 3.2% over a period of 19 years.
The transaction at Nassim 9 was the third-most profitable resale recorded at the development. The current record was set in March 2023 when a larger four-bedroom unit spanning 2,756 sq ft was sold for $9.5 million, or $3,448 psf. The unit had been purchased for $4.12 million, or $1,495 psf, in December 2005. This means that the seller made a profit of $5.38 million, or 130.6%, and an annualised gain of 5% over 17 years.
Prior to the latest transaction, the last recorded resale at Nassim 9 took place in March 2023. A 3,251 sq ft, four-bedroom unit was sold for $10.3 million, or $3,169 psf, generating a profit of $3.3 million.
Nassim 9 is a boutique condo with only eight units and is located along Nassim Road in prime District 10. Completed in 2002, the four-storey development consists of four-bedroom units ranging from 2,756 to 3,423 sq ft.
Another noteworthy transaction during the period in review was the sale of a triplex penthouse unit at Mount Faber Lodge for $5 million, or $1,350 psf, on February 5. The unit was last sold in August 2001 for $1.6 million, which means that the seller made a profit of $3.4 million, or 212.5%. This translates to an annualised gain of 5% over a period of 23.5 years.
This transaction at Mount Faber Lodge is currently the most profitable resale transaction recorded at the development. The previous record was held by a three-bedroom unit spanning 2,669 sq ft on the third floor, which was sold for $3.89 million, or $1,457 psf, in October 2022. This unit was purchased for $1.3 million, or $487 psf, in January 2006, generating a profit of $2.59 million, or 199.2%.
Mount Faber Lodge is a boutique freehold development completed in 1983 and is located along Mount Faber Road in District 4. The development has a mix of studio units measuring 1,098 sq ft, two- and three-bedroom units ranging from 1,173 to 2,454 sq ft, and 20 five-bedroom triplex penthouses sized between 3,703 and 3,724 sq ft.
The third-most profitable deal during the period in review was the sale of a three-bedroom unit at Amaryllis Ville, a 99-year leasehold condo in prime District 11. The unit, located on the 28th floor and measuring 1,238 sq ft, was sold for $2.65 million, or $2,141 psf, on February 5. It was last sold for $1.09 million, or $884 psf, in June 2005, generating a profit of $1.56 million, or 142.2%. This translates to an annualised gain of 4.6% over a period of 19.5 years.
This transaction is the third-most profitable recorded at Amaryllis Ville. The current record belongs to a three-bedroom unit measuring 1,991 sq ft on the 17th floor which was sold for $3.75 million, or $1,885 psf, in September 2023. The unit was purchased for $1.95 million, or $979 psf, in June 2009, generating a profit of $1.8 million, or 92.5%. This translates to an annualised gain of 4.7% over a period of 14 years.
Based on resale data compiled by EdgeProp Singapore, resale prices at Amaryllis Ville have been steadily increasing in recent years. The average price, based on a rolling 12-month average, hit $2,001 psf in February 2024, before rising to $2,082 psf in February 2024, a 4% year-on-year increase.
Amaryllis Ville was completed in 2004 and has a total of 311 units. It is located along Newton Road and has a mix of one- and two-bedroom units ranging from 657 to 1,378 sq ft, and three-bedroom units measuring from 958 to 2,637 sq ft. Other nearby condos include Rochelle at Newton and Kopar at Newton.
When contemplating an investment in a condo at The Belle Game, it is essential to evaluate the potential rental yield. This is the annual rental income as a percentage of the property’s purchase price. In Singapore, the rental yields for condos can vary greatly depending on factors such as location, property condition, and market demand. Generally, areas with high rental demand, such as those near business districts or educational institutions, tend to provide better rental yields. Conducting thorough market research and seeking advice from real estate agents can provide valuable insights into the rental potential of a specific condo at The Belle Game.
There were no unprofitable transactions during the period in review. Interested buyers can check out the latest listings for Nassim 9 and other condominium properties on EdgeProp Singapore.