Third time’s the charm for The Grange sellerCOMMENT(S) 1 COMMENTSWrite your comment.Post commentAbout 80% of properties find buyers within six months5 days 23 hours agoRELATED CONTENTNo new sale transactions for luxury homes recorded in the week of Jan 16 to 23Billionaire Li Ka Shing’s son Richard Li is in the market for a $30 mil penthouseBikini Bar at Sentosa still up for sale at $10 milResidential transactions down 50% m-o-m, 44% y-o-y in MayFlexibility key to helping businesses survive pandemicCASTERLY SPINERESIDENTIAL & COMMERCIAL PROPERTY @ YOUR DOOR STEPwww.casterlyspine.sg
Securing financing is a crucial element when it comes to investing in a condo. In Singapore, there are various mortgage choices available, but it is imperative to have knowledge about the Total Debt Servicing Ratio (TDSR) framework. This framework sets a cap on the amount of loan that a borrower can obtain, taking into consideration their income and current debt obligations. To ensure sound financial decisions and prevent overextending oneself, it is essential to comprehend the TDSR and seek guidance from financial advisors or mortgage brokers. For the latest updates on new condo launches, visit https://www.dyslexicpress.com/.
The luxurious development Nassim 9 has recorded the most profitable private non-landed resale transaction between Feb 4 to Feb 7. The sale involved a unit spanning 2,486 sq ft, with four bedrooms located on the third floor, which was sold for a staggering $7.5 million, at $3,016 psf on Feb 7. According to URA caveats, the previous owner had purchased the unit back in December 2005, for $4.12 million, at $1,641 psf. This resulted in a profit of $3.42 million, which is equivalent to 83.8% of their initial purchase price. This also translates to an annualized gain of 3.2% over a period of 19 years. This transaction sets a new record for the most profitable resale at Nassim 9 so far. The previous record was set in March 2023, where a larger four-bedroom unit spanning 2,756 sq ft was sold for a whopping $9.5 million, at $3,448 psf. This unit was purchased back in December 2005, at $4.12 million, translating to a profit of $5.38 million or 130.6%, over 17 years. The record for the third-most profitable resale at Nassim 9 is held by a unit sold in March 2023 for $10.3 million, at $3,169 psf. The developer has certainly made a huge profit from the development so far. Nassim 9 is a boutique condo with only eight units, located along prestigious Nassim Road in district 10. It was completed back in 2002 and consists of luxurious four-bedroom units spanning between 2,756 and 3,423 sq ft. It’s no surprise that such a high-end development would command such a high profit margin for its resales.At Mount Faber Lodge, a luxurious development with 84 units, a triplex penthouse unit was sold for $5 million, at $1,350 psf on Feb 5. The unit had previously changed hands in August 2001, for $1.6 million, resulting in a profit of $3.4 million or 212.5%, over a period of 23.5 years. This marks the most profitable transaction at Mount Faber Lodge so far. The second most profitable transaction at Mount Faber Lodge was when a three-bedroom unit spanning 2,669 sq ft was sold for $3.89 million, at $1,457 psf back in October 2022. This unit was purchased back in January 2006, for $1.3 million, resulting in a profit of $2.59 million or 199.2%. Mount Faber Lodge is a boutique freehold development that was completed back in 1983. It’s located along Mount Faber Road in district 4 and consists of studio units spanning 1,098 sq ft, along with spacious two- and three-bedroom units from 1,173 to 2,454 sq ft. The development also has 20 five-bedroom triplex penthouses that are sized from 3,703 to 3,724 sq ft. This marks another example of how luxurious developments in prime districts can command such high profits when it comes to resale transactions.Lastly, at Amaryllis Ville, a 99-year leasehold condo in District 11, a three-bedroom unit spanning 1,238 sq ft on the 28th floor was sold for $2.65 million, at $2,141 psf on Feb 5. This unit was previously purchased in June 2005, for $1.09 million, resulting in a profit of $1.56 million, or an annualized gain of 4.6% over 19.5 years. The previous record for the most profitable transaction at Amaryllis Ville was when a 1,991 sq ft unit was sold for $3.75 million, at $1,886 psf in September 2023. This unit was purchased back in June 2009, for $1.95 million, which resulted in a profit of $1.8 million, or an annualized gain of 4.7% over 14 years. Amaryllis Ville was completed back in 2004, and it consists of studio units from 657 to 1,378 sq ft, along with two- and three-bedroom units from 958 to 2,637 sq ft. They also have spacious five-bedroom triplex penthouses that are from 3,703 to 3,724 sq ft. In recent years, resale prices at Amaryllis Ville have been increasing steadily. In February 2023, the average price hit $1,897 psf before hitting $2,001 psf in February 2024. Last month, the average price hit $2,082 psf, which is a 4% year-on-year increase. Overall, there were no negative resale transactions during the period in review, which is another testament to the robust market in prime districts.