Seller reaps $3.3 mil profit at boutique condo Nassim 9

The most profitable resale transaction during the week of March 7 to 14 happened at Nassim 9 and was the sale of a 3,251 sq ft, ground-floor unit for $10.3 million ($3,169 psf). The seller raked in a $3.3 million (47%) profit on the transaction, which translates to an annualised profit of 3.2% over 12 years.The second most profitable resale during the week was that of a 2,820 sq ft unit at Cairnhill Plaza which changed hands for $5.38 million ($1,908 psf) on March 9. The seller earned a record $2.78 million (107%) profit, which translates to an annualised profit of 2.9% over 25 years. The longest period a unit at Cairnhill Plaza has been held by an owner.The record for the most profitable resale transaction at Cairnhill Plaza is for a 3,305 sq ft unit that was sold for $5.75 million (1,740 psf) in March 2010. The seller earned a record $3.75 million (187%) profit, which translates to an annualised profit of 9% over 11 years.

The most profitable resale transaction during the week of March 7 to 14 was at Nassim 9. The four-storey development consists of eight units of 2,756 to 3,423 sq ft. The unit that changed hands on March 10 was an impressive 3,251 sq ft ground-floor apartment, sold for $10.3 million ($3,169 psf). The seller made an incredible $3.3 million (47%) profit on the transaction, translating to an annualised profit of 3.2% over 12 years.

Located in the exclusive Nassim Road residential enclave in Prime District 10, it is a short walk to Tanglin Mall and other shopping malls along the Orchard Road shopping belt. Other luxury residential developments in the area include Nassim Park Residences, Nassim Jade, Tanglin Residences, 19 Nassim, and Les Maisons Nassim.

The second most profitable resale during the week of March 7 to14 was for a 2,820 sq ft unit at Cairnhill Plaza which fetched $5.38 million ($1,908 psf) on March 9. The unit had been purchased for $2.6 million ($922 psf) in 1997. The seller earned a record $2.78 million (107%) profit, giving an annualised profit of 2.9% over 25 years.

Senja Residences is a 99 years leasehold executive condominium development located in District 23. It offers 300 units, resort-style facilities, proximity to public transportation, and Senja Close EC amenities near Bukit Panjang Integrated Transport Hub. Living here ensures convenience and flexibility for multigenerational families.

Cairnhill Plaza is a freehold condo on Cairnhill Road in Prime District 9, Singapore. It is approximately 45 years old and has 204 units of 2,293 to 3,305 sq ft. Despite its prime central location, the age of the development is a drag on prices, with the average price at the development being $1,894 psf. It is close to several prominent shopping malls and hotels such as The Paragon, Ngee Ann City, Ion Orchard, Marriott Tang Plaza Hotel, Pullman Singapore Orchard, and Hilton Singapore Orchard.

The most unprofitable transaction during the week of March 7 to 14 was the sale of a 1,528 sq ft three-bedroom unit at V on Shenton. The unit was sold for $3.09 million ($2,021 psf) on March 10, having been bought for $3.34 million ($2,187 psf) in April 2012. The seller suffered a loss of about $254,000 (8%), which translates to an annualised loss of 0.7% over nearly 11 years.

V on Shenton is a 99-year leasehold condo on Shenton Way in District 1. It consists of 510 units and was completed in 2017. The most unprofitable resale at V on Shenton is for a 1,098 sq ft unit that sold for $2 million ($1,822 psf) in April 2022, after being bought for $2.43 million ($2,211 psf) in July 2013. Thus, the seller suffered a record loss of $427,000 (18%), which translates to an annualised loss of 2.1% over eight years.

Price comparison graphs show that despite its central location, V on Shenton’s price is notably lower than neighbouring properties.

In summary, resale transactions during the week of March 7 to 14 ranged from a $10.3 million unit at Nassim 9 that reaped a profit of $3.3 million to a $2 million unit at V on Shenton that suffered a loss of $427,000. The record for the most profitable resale transaction at Cairnhill Plaza stands at a $3.75 million profit, while the most unprofitable resale at V on Shenton came in at $427,000.