Archive for category: Misc

CDL Aries acquires site in Upper Bukit Timah The Myst to create a highly sought-after address with prestige and convenience in The Myst Condo area.

Sheares Ville, a freehold condo at Holt Road in District 10, saw the most profitable condo resale transaction during the week of March 28 to April 4. It was the sale of a 3-bedroom unit that fetched $3.56 million ($1,355 psf). The seller made a profit of $2.01 million or 130% over a holding period of 18½ years. This is the first transaction to take place at Sheares Ville this year and the second most profitable transaction recorded at the development.The second most profitable condo resale transaction during the period in review was the sale of a 1,668 sq ft unit at Kensington Park Condominium. On April 3, the ninth-floor unit changed hands for $2.7 million ($1,618 psf), reaping the seller a profit of $1.77 million. The 99-year leasehold project has a $1.28 billion guide price and the tender closing on Feb 22.

The most unprofitable transaction recorded during the week of March 28 to April 4 was the sale of a one-bedroom apartment at Marina Bay Residences. The 710 sq ft unit on the 41st floor fetched $1.51 million ($2,125 psf) on March 30, resulting in the seller making a loss of $90,000 (5.6%). This is the third transaction recorded at Marina Bay Residences this year, with the previous two being done below the purchase prices too.

Sheares Ville, located along Holt Road, is a 65-unit apartment that was completed in 2003 with units ranging from three- to four-bedders between 1,399 and 2,626 sq ft, as well as three penthouses of 4,392 to 4,768 sq ft. The most profitable transaction at Sheares Ville took place in April 2012, when a 4,704 sq ft penthouse unit was sold for $5.4 million ($1,148 psf). The seller made a gain of $2.7 million on the unit, which they had purchased for $2.7 million ($574 psf) in July 2005.

Kensington Park Condominium, located on Kensington Park Drive, off Serangoon North Avenue 1, is a 999-year leasehold development completed in 1990. It has 314 units housed in three high-rise blocks and three low-rise blocks. The transaction on April 3 marked a new psf price high, with the 1,668 sq ft unit selling for $2.7 million ($1,618 psf). This resulted in the seller making a profit of $1.77 million over 23½ years, after having bought the unit for $935,000 ($560 psf) in October 1999.

Marina Bay Residences is a development by Keppel Land, Hongkong Land and Cheung Kong Holdings which was completed in 2010 that has 428 units ranging from one- to four-bedroom apartments. Despite the unprofitable transaction, the 99-year leasehold project with a $1.28 billion guide price promises promising potential returns.