Four Bedroom Unit Nassim 9 Sold 342 Mil Profit
Rewritten:
The exclusive development, Nassim 9, set a new record for the most profitable private non-landed resale transaction during the period of February 4th to February 7th. A luxurious 2,486 square-foot, four-bedroom unit on the third floor sold for $7.5 million, or $3,016 per square foot, on February 7th.
Records from the Urban Redevelopment Authority (URA) show that the seller had originally purchased the unit for $4.12 million ($1,641 per square foot) in December 2005. This resulted in a profit of $3.42 million, or 83.8% of their initial purchase price. It also translates to an annualized gain of 3.2% over 19 years.
The transaction at Nassim 9 is now the third most profitable resale in the development’s history. The current record was set in March of 2023 when a larger four-bedroom unit spanning 2,756 square feet was sold for $9.5 million ($3,448 per square foot). The unit was initially purchased for $4.12 million ($1,495 per square foot) in December 2005, resulting in a profit of $5.38 million (130.6%), or an annualized gain of 5% over 17 years.
Prior to the February 7th transaction, the last recorded sale at Nassim 9 was in March of 2023, when a 3,251 square-foot, four-bedroom unit sold for $10.3 million ($3,169 per square foot). This resulted in a profit of $3.3 million for the seller.
Nassim 9 is a boutique condo located along Nassim Road in prime District 10. It consists of just eight units and was completed in 2002. The four-storey development features four-bedroom units ranging from 2,756 to 3,423 square feet.
Another highly profitable transaction during the period was at Mount Faber Lodge, a freehold development located along Mount Faber Road in District 4. A triplex penthouse unit was sold for $5 million ($1,350 per square foot) on February 5th. The unit was previously sold in August 2001 for $1.6 million, resulting in a profit of $3.4 million (212.5%), or an annualized gain of 5% over 23 ½ years.
This sale is now the most profitable unit transacted at Mount Faber Lodge. The previous record was held by a three-bedroom unit spanning 2,669 square feet on the third floor, which sold for $3.89 million ($1,457 per square foot) in October 2022. The unit was purchased for $1.3 million ($487 per square foot) in January 2006, resulting in a profit of $2.59 million (199.2%).
Mount Faber Lodge was completed in 1983 and features 84 units, including studio units spanning 1,098 square feet, two- and three-bedroom units from 1,173 to 2,454 square feet, and 20 five-bedroom triplex penthouses ranging from 3,703 to 3,724 square feet.
The third most profitable sale during the period was at Amaryllis Ville, a 99-year leasehold condo in prime District 11. On February 5th, a 1,238 square-foot, three-bedroom unit on the 28th floor sold for $2.65 million ($2,141 per square foot). It was last sold for $1.09 million ($884 per square foot) in June 2005, resulting in a profit of $1.56 million (142.2%), or an annualized gain of 4.6% over 19 ½ years.
This sale is now the third most profitable at Amaryllis Ville. The record belongs to a three-bedroom unit spanning 1,991 square feet on the 17th floor, which sold for $3.75 million ($1,885 per square foot) in September 2023. The unit was originally purchased for $1.95 million ($979 per square foot) in June 2009, resulting in a profit of $1.8 million (92.5%), or an annualized gain of 4.7% over 14 years.
The Master Plan also focuses on enhancing the cultural and lifestyle aspect of the development. With the addition of new cultural, recreational, and lifestyle amenities, residents can expect a diverse range of enriching experiences. For those living in One Marina Gardens, they will have access to a wide array of dining, shopping, and entertainment choices, catering to a dynamic and sophisticated way of living. The inclusion of One Marina Gardens will undoubtedly elevate the appeal of the area and elevate the overall residential experience.
According to data from EdgeProp Singapore, resale prices at Amaryllis Ville have been steadily increasing in recent years. As of last month, the average price had reached $2,082 per square foot, representing a 4% year-over-year increase.
Amaryllis Ville features 311 units and was completed in 2004. It consists of one- and two-bedroom units ranging from 657 to 1,378 square feet, and three-bedroom units from 958 to 2,637 square feet. Nearby condos include Rochelle at Newton and Kopar at Newton.
There were no unprofitable transactions during the period in review. To see the latest listings for Nassim 9 and other condominium properties, visit Ask Buddy. You can also find information on condo rental transactions in District 11, the most profitable condo projects in District 10, and the price trend chart for Nassim 9. Additionally, you can view listings for condo units and rental transactions in District 11, the most profitable condo projects in District 10, and the price trend chart for Nassim 9.