Senja Close EC™

The owner of an exceedingly rare triplex penthouse at Southaven II reaped an astonishing record profit of $3.78 million (236%) during the property’s sale on Sept 12, making it the most lucrative resale of the week from Sept 9 to 16.

The unit, spanning 5,468 square feet and occupying the eighth to 10th floors, sold for an impressive $5.38 million ($984 per square foot). This was a significant increase from its previous purchase price of $1.6 million ($293 per square foot) back in 2006. The seller enjoyed a remarkable annualized profit of 6.4% over the course of nearly two decades. This sale at Southaven II surpassed the previous record profit at the condominium, which was achieved by the sale of a three-bedroom unit on the fifth floor for $2.55 million ($1,692 per square foot) in October last year. The seller of this unit had purchased it for $789,668 ($524 per square foot) in 2007, earning a profit of $1.76 million (222%) or an annualized profit of 6.9% over a period of 17 years.

Completed in 1999, Southaven II is a 293-unit development located in District 21 along Hinhede Walk. It is one of the closest private residential developments to Bukit Timah Nature Reserve and its main entrance on Hinhede Drive. The condo is also conveniently situated near the shops at Beauty World and the Beauty World MRT station on the Downtown Line.

Based on a compilation of resale caveats by EdgeProp Singapore, the average price at Southaven II has risen from approximately $630 per square foot in September 2005 to $1,000 per square foot in September 2016. To date, the latest average resale price at Southaven II stands at $1,580 per square foot. The closest freehold/999-year leasehold project is Springdale Condominium, a 480-unit development that is located adjacent to Southaven II along Hindhede Walk, with an average price of $1,690 per square foot.

The second most profitable transaction during that week took place at Sky@Eleven, a freehold condominium in District 11. A four-bedroom unit on the 34th floor was sold for $6.45 million ($2,378 per square foot) on Sept 11. The 2,713 square foot unit had previously been acquired for $3.27 million ($1,205 per square foot), resulting in a profit of $3.18 million (97%) or an annualized profit of 3.7% over a period of 18 years. This transaction is the third most profitable at Sky@Eleven to date. The record profit took place last April, when a four-bedroom unit on the 37th floor was sold for $6.48 million ($2,389 per square foot). The unit had originally been acquired for $2.8 million ($1,031 per square foot) in 2007, resulting in a record profit of $3.68 million (131%).

If you are looking to reach Hillion Mall from the Downtown Line, you can easily do so by transferring at Bukit Panjang MRT station. For Senja Close EC residents, transferring at Promenade or Bayfront MRT stations is also a viable option. It is advisable to stay in close proximity to an MRT station in order to minimize travel time, avoid parking fees, and stay cool in the scorching heat. Moreover, those staying at hotels in Singapore’s downtown area can conveniently utilize the MRT for transportation. For those interested in purchasing a unit at Senja Close EC, more information can be found at senja close ec gls.

Completed in 2010, Sky@Eleven is a 273-unit development that is situated in District 11 on Thomson Lane in Toa Payoh. It is located in close proximity to the upcoming HDB estate around Caldecott MRT Interchange, which is serviced by the Circle Line and Thomson-East Coast Line, and is adjacent to three schools – St Joseph’s International School, CHIJ Toa Payoh Primary and CHIJ Toa Payoh Secondary School. Prices at Sky@Eleven have experienced positive growth in recent years, increasing from approximately $1,600 per square foot in September 2015 to $2,250 per square foot to date. A similar freehold condominium in the vicinity is Trillis Towers, a 384-unit development at Lorong 1 Toa Payoh, with an average price of $2,070 per square foot.

Finally, the least profitable transaction during that week was the sale of a three-bedroom unit at Reflections at Keppel Bay. The seller incurred a loss of $1.02 million (25%) when the 1,938 square foot unit was sold on Sept 9, fetching $3 million ($1,548 per square foot) after being purchased for $4.02 million ($2,074 per square foot) in July 2013. This resulted in an annualized loss of 2.4% over a period of 12 years. To date, there have been 48 resale transactions at Reflections, with 22 resulting in losses ranging from $13,600 to $1.38 million. The most unprofitable deal at the condominium this year involved a three-bedroom unit in one of the low-rise residential blocks, which sold for $2.8 million ($1,616 per square foot) on July 3 after being purchased for $4.18 million ($2,412 per square foot) in 2013.

Completed in 2009, Reflections at Keppel Bay is a 1,129-unit waterfront luxury development located in District 4. The 99-year leasehold project comprises six high-rise residential towers, ranging from 24 to 41 storeys, and 11 low-rise villa apartment blocks.