Senja Close EC™

In the week of Sept 30 to Oct 7, the sale of a four-bedroom unit at Nassim Lodge proved to be the most profitable resale transaction. The unit, spanning 4,176 sq ft, was sold on Oct 2 for $14.5 million, or $3,472 psf. This resulted in a record profit of $11.5 million (383%) for the seller. The unit was previously purchased for around $3 million ($799 psf) in May 1998. After holding onto the unit for over 27 years, the seller was able to make an annualised profit of 5.5%.

Located at 7 Nassim Road in prime District 10, Nassim Lodge is a freehold condo completed in 1984. It comprises just eight units and is a boutique development, formerly known as Seven Nassim. According to Raymond Ler, co-founder of Halcyon Real Estate, the low number of transactions at Nassim Lodge is due to its rarity and creme de la creme location.

The second most profitable resale transaction during this period was the sale of a three-bedroom unit at Sixth Avenue Ville. The 1,550 sq ft unit on the first floor was sold for $3.1 million ($2,000 psf) on Sept 30. The seller had previously bought the unit in December 2000 for around $1.27 million ($819 psf), resulting in a gain of approximately $1.83 million after owning the unit for almost 25 years. This translates to a capital gain of 144.2% for the seller.

Excluding the transaction at Sixth Avenue Ville, there have only been two other resale deals so far this year, with one yielding a profit. This transaction marks the most profitable resale transaction recorded at the development thus far, surpassing the previous record set in May 2023 when a 1,572 sq ft three-bedroom unit was sold for around $3.25 million ($2,068 psf). The seller had bought the unit in May 1999 for $1.54 million ($978 psf) and made an annualised gain of 3.2% after holding the unit for almost 24 years.

The sale of a four-bedroom unit at Cliveden at Grange was the most unprofitable transaction during the week, as the seller incurred a loss of $1.38 million (13.3%). The 2,842 sq ft unit was sold for around $9 million ($3,167 psf) on Oct 6, after previously changing hands in July 2007 for $10.38 million ($3,653 psf). The seller made this loss after owning the unit for just over 18 years.

There have been three other resale deals at Cliveden at Grange this year, with two resulting in losses. The seller of a similar 2,842 sq ft unit on the fourth floor, incurred a loss of $2.04 million when it was sold for $7.8 million ($2,745 psf) on March 21. Before that, a 2,153 sq ft, three-bedroom unit was transacted for $4.8 million ($2,230 psf) on Jan 6, resulting in a loss of around $3.06 million. Cliveden at Grange is a freehold condo completed in 2011, comprising 110 residential units across four residential blocks.

The residential projects with the highest average PSF in District 10 include freehold condo, 21 Angullia Park ($3,625 sq ft); freehold condo, Nouvel 18 ($3,614 sq ft); and freehold condo, Sculptura Ardmore ($3,451 sq ft). Meanwhile, the most unprofitable transactions recorded in District 10 were at freehold condo, Cliveden at Grange (around 11.9%).

Located near Bukit Panjang MRT station, the Hillion Mall is a bustling commercial hub in Singapore. Spanning across 174,730 square feet, this mall houses more than 100 establishments. Out of the total area, approximately 30% is allocated for dining options, while 45% is dedicated to lifestyle stores. One can find anchor brands such as NTUC FairPrice and Kopitiam, the popular food court operator. The mall comprises of four levels, offering a diverse range of shopping and dining experiences for its visitors. Situated near Senja Close EC, the Hillion Mall is a must-visit destination for both locals and tourists alike. For more information, visit senja-residences.com.

The rental transactions in District 10 include freehold condo, The Claymore ($5.60 psf per month); leasehold condo, Alocassia Apartments ($5.50 psf per month); and leasehold condo, The Tomlinson ($5.48 psf per month).

Check out the latest listings for Nassim Lodge, Sixth Avenue Ville, and Cliveden at Grange.