Thursday, March 29, 2012

Unit at Nassim Park Residences tops subsale gains

The most profitable subsale in dollar terms for 2011 was a unit at Nassim Park Residences, according to analysis by Savills.

The unit generated a profit of around S$6.2 million, after it was purchased in July 2008 for nearly S$18 million and sold in April 2011 for slightly above S$24.1 million.

Savills said that Nassim Park Residences (pictured) accounted for four of the 10 most profitable deals in 2011, followed by The Orchard Residences and The Trillium at Kim Seng Road, which recorded two deals each.

Overall, 62 subsales last year generated a profit of S$1 million or above, including 10 units at The Orchard Residences development and eight units each at Marina Bay Residences and Nassim Park Residences.

In percentage terms, Savills noted that the two most profitable transactions in the subsale market last year involved two units at Southbank at North Bridge Road, which recorded returns of around 167 percent and 142 percent involving holding periods of 4.58 years and 4.75 years respectively. These units were acquired for S$561,000 and S$764,000 in 2006 and sold for S$1.5 million and S$1.85 million in January and April 2011 respectively.

View the original article here

Source From Property Guru

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