On September 13, a 1,324 sq ft unit at Aspen Heights was sold with a total net profit of $1.72 million for the seller. The 1,324 ft condo for sale was bought for a total price of $2.97 million ($2,243 psf). Check out which properties gained the most profit in the week of September 15 to 14, according to the latest property news from EdgeProp Singapore (last updated on September 2021).

Highest profit this week: Marina bay residences

According to this week’s property market news, the highest profit was from a recent transaction at Marina Bay Residences. A spacious 4,489 sq ft unit on the 51st floor earned its seller a whopping $5.47 million. The two-bedroom unit was sold for a total of 19.35 million ($4,311 psf). The previous owner made a total of 39% profit since the unit was initially bought with a price of $13.88 million ($3,092 psf) last October 2013. This roughly translates to an annualized yield of 4% for nearly eight years.

Marina Bay Residences is a 99-year leasehold residential project located in Marina Boulevard of District 1. Known as the crown jewel of Marina Bay, the development has over 428 units across 51 storeys. Marina Bay Residences is considered an iconic landmark and one of the most desirable addresses in Singapore. It’s also the runner-up winner in the FIABCI Prix d’Excellence Awards 2012, the world’s most prestigious real estate award.

It’s situated at a prime location where Downtown MRT Station is just a four-minute walk away. It’s also near the East Coast Parkway and Marina Coastal Expressway, the Marina Bay, Bayfront, and Raffles Place MRT stations. 

Highest profit this week: Grand Duchess at St. Patricks

This week, the second real estate transaction that gained high profits was at the Grand Duchess at St. Patrick’s. A 2,573 sq ft unit on the fifth floor of the property was recently sold for $3.5 million ($1,360 psf) last September 14. This earned the seller a grand 1.8 million, roughly around 106% in total profit and 6% in annualized yield for over 13 years. The condo unit was initially bought for a much lower price of $1.7 million ($661 psf) in 2008.

Located in St. Patricks Road in District 15, Grand Duchess at St. Patricks is a freehold property. It was developed by United Industrial Corp (UIC) Limited in 2010 with 121 condo units available for sale or rent. Grand Duchess at St. Patricks is located near Marine Terrace MRT Station on the Thomson-East Coast Line. 

Highest profit this week: Aspen Heights

The third highest profit earned this week, according to EdgeProp Singapore, is a transaction at Aspen Heights located in River Valley Road. A 1,324 sq ft unit located on the fifth floor netted a total of $1.72 million in profit. This roughly translates to a 138% profit from its total sale price of $3.5 million ($1,360 psf). The seller originally bought it in July 2002 for $1.25 million ($944 psf). 

Aspen Heights is a development built by DBS Realty Pte Ltd in 1998. It’s located in River Valley Road in District 9, one of the most exclusive areas in Singapore. The 999-year leasehold property has over 606 homes in 16-storey residential blocks. Perched on a hill and surrounded by trees, Aspen Heights is reputed for its stunning resort-like surroundings. It’s located near the Fort Canning MRT Station and the Somerset MRT Station.

Lowest profit this week: Reflections at Keppel Bay

On the other hand, a property investment at Reflections at Keppel Bay turned out to be unprofitable. A recent transaction this week had a seller suffer a 39% loss of $6.95 million. A 7,050 sq ft unit at this condominium development in District 4 was sold for a low price of $11 million ($1,560) on September 10. Previously, the seller acquired the unit for a much more expensive $17.9 million ($2,2550 psf). This roughly translates to a 4% annualized loss for over 14 years.

Reflections at Keppel Bay is a 99-year leasehold development located in Keppel Bay View, Harbourfront / Telok Blangah (District 4). It was built by Keppel Bay Pte Ltd in 2001 and had over 1,129 units across 40 floors. It’s a condominium close to the sea, allowing residents to enjoy the scenic sea view and the gentle sea breeze. The nearest train station is Telok Blangah MRT Station.

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