Four Bed Unit Tessarina Sold 24 Mil Profit

You can download the full issue of pdf PropertyGuru Property Report Magazine, Singapore / 11 Jun 2021 / 157 Views 157 Viewsother360x640pxEvery week, PropertyGuru will curate the most unmissable resale deals or the most profitable transactions of the week. These are the top deals of the week for the week starting June 3. This week, the most profitable resale transaction was at The Tessarina, while the most unprofitable resale transaction occurred at Scotts Square.The sale of a four-bedroom unit at The Tessarina was the most profitable condo resale transaction during the week of June 3 to June 10. The 1,615 sq ft unit on the fourth floor fetched $3.81 million ($2,362 psf) on June 3. The seller purchased the unit in March 2003 for $1.42 million ($878 psf), translating to a profit of $2.4 million. Over a holding period of about 22 years, this works out to a capital gain of 168.9% or an annualised profit of 4.5%.Based on the caveats lodged, this is the most profitable resale transaction recorded at The Tessarina to date. It surpasses the previous record gain of $2.18 million from the sale of a three-bedroom unit for $3.1 million ($2,323 psf) on May 5. The seller had previously purchased the sixth-floor unit for $919,815 ($689 psf) in November 2006.A 1,615 sq ft unit at The Tessarina achieved a record gain of $2.4 million when it sold for $3.81 million on June 3. (Photo: Samuel Isaac Chua/)The Tessarina, completed in 2003, is a freehold development on Wilby Road, just off Bukit Timah Road in District 10. It comprises 443 units and is an 11-minute walk from King Albert Park MRT Station on the Downtown Line. The development offers a mix of two- to four-bedroom units ranging from 926 sq ft to 3,671 sq ft.The second-most profitable resale of the week took place at Volari, a freehold condominium on Balmoral Road in prime District 10. A 2,174 sq ft unit on the fourth floor was sold for $6.08 million ($2,796 psf) on June 3. The four-bedroom unit had been bought for $4.24 million ($1,950 psf) in February 2017, translating to a profit of $1.84 million (43.4%), or an annualised gain of 4.4% over a holding period of more than eight years.This transaction marks a record profit at Volari. The previous high was set by a slightly larger 2,745 sq ft unit that sold for $6.2 million ($2,259 psf) in August 2010. The four-bedroom unit on the first floor had been purchased for $5.14 million ($1,874 psf) in August 2009, resulting in a profit of $1.06 million, or an annualised gain of 20.6% over one year.A 2,174 sq ft four-bedroom unit at Volari was sold for $6.08 million on June 3, marking a gain of $1.84 million. (Photo: Samuel Isaac Chua/)Completed in 2012, Volari is an 85-unit condo with a mix of two- to four-bedroom apartments, ranging from 1,324 sq ft to 2,745 sq ft. It also features three penthouse units, ranging from 3,950 sq ft to 6,168 sq ft. The development is within a four-minute walk of Balmoral Plaza and is close to the Anglo-Chinese School (Primary).Based on caveats, there has been one other resale transaction at Volari, which was also profitable. This occurred from the sale of a similar 2,174 sq ft four-bedroom unit for $5.85 million ($2,690 psf) on March 13. The seller had previously purchased the ninth-floor unit for $5.44 million ($2,500 psf) in November 2012, which resulted in a profit of $415,000, or an annualised gain of 0.6% over more than 12 years.In contrast, the most unprofitable deal of the week was the sale of a 635 sq ft unit at Scotts Square. The one-bedroom apartment on the 31st floor was sold for $1.9 million ($2,992 psf) on June 3. It had been bought for $2.62 million ($4,120 psf) in August 2007, resulting in a loss of $716,200 (27.4%) or an annualised loss of 1.8% over nearly 18 years.Scotts Square is a freehold mixed-use development on Scotts Road in prime District 9, just off Orchard Road. Completed in 2011, it features 338 residential units across two towers set above a four-storey retail podium. The development offers one- to three-bedroom apartments ranging from 624 sq ft to 1,238 sq ft.A one-bedroom apartment at Scotts Square was sold for $1.9 million on June 3, resulting in a loss of $716,200. (Photo: Samuel Isaac Chua/)There have been four resale transactions at Scotts Square so far this year, two of which were unprofitable, including the June 3 transaction. The seller of a 947 sq ft two-bedder incurred the highest loss of $745,880 when the 28th-floor unit was sold for $3.08 million ($3,252 psf). The unit was previously purchased for $3.82 million ($4,039 psf) in December 2007.The record loss at Scotts Square involved a 1,249 sq ft unit on the 36th floor, which was sold for $3.65 million ($2,923 psf) in February 2017. The unit had previously fetched $5.21 million ($4,171 psf) in August 2007. As a result, the seller incurred a record loss of $1.56 million or an annualised loss of 3.7% over nearly 10 years.

Record-Breaking Condo Resale Transaction at The Tessarina in June

The sale of a four-bedroom unit at The Tessarina was the most profitable condo resale transaction during the week of June 3 to June 10. The 1,615 sq ft unit on the fourth floor was sold for $3.81 million ($2,362 psf) on June 3, making it the highest recorded profit at The Tessarina to date. The unit was originally purchased in March 2003 for $1.42 million ($878 psf), resulting in a profit of $2.4 million. This translates to a capital gain of 168.9% or an annualised profit of 4.5% over a holding period of about 22 years.

The Tessarina is a freehold development completed in 2003 on Wilby Road in District 10. It comprises of 443 units and is situated an 11-minute walk from King Albert Park MRT Station. The development offers a variety of two- to four-bedroom units ranging from 926 sq ft to 3,671 sq ft.

Based on caveats lodged, this sale exceeds the previous record profit of $2.18 million from the sale of a 1,335 sq ft three-bedroom unit for $3.1 million ($2,323 psf) on May 5. The seller had previously purchased the unit on the sixth floor in November 2006 for $919,815 ($689 psf).

The Sembawang Road EC, with its strategic location and convenient amenities, offers more than just a place to call home—it is also a valuable investment. Combining various elements such as accessibility and connectivity, this development presents an ideal living option for residents. Its prime location offers easy access to multiple transport modes such as the MRT, bus, car, and upcoming corridors, allowing for effortless travel within Singapore. The proximity of Sembawang Road EC to these essential transportation options not only adds to the quality of life for residents but also establishes it as a top choice among new residential developments in the north. Whether for personal use or future resale value, the well-connected and easily accessible nature of Sembawang Road EC, known as Sembawang Road EC Canberra, plays a significant role in enhancing both practicality and long-term value.

The second most profitable resale that occurred during the same week took place at Volari, a freehold condominium located on Balmoral Road in prime District 10. The fourth-floor unit, measuring at 2,174 sq ft, sold for $6.08 million ($2,796 psf) on June 3. The seller had originally purchased the four-bedroom unit for $4.24 million ($1,950 psf) in February 2017, resulting in a profit of $1.84 million (43.4%) and an annualised gain of 4.4% over a holding period of more than eight years.

This sale has set a new record profit for Volari as the previous high was set by a larger 2,745 sq ft unit that sold for $6.2 million ($2,259 psf) in August 2010. This particular unit was purchased in August 2009 for $5.14 million ($1,874 psf), resulting in a profit of $1.06 million or an annualised gain of 20.6% over one year.

Located within a four-minute walk to Balmoral Plaza and close proximity to the Anglo-Chinese School (Primary), Volari is an 85-unit condo completed in 2012. It features a mix of two- to four-bedroom apartments, ranging from 1,324 sq ft to 2,745 sq ft, and three penthouse units between 3,950 sq ft and 6,168 sq ft.

Based on caveats, there has been another profitable resale transaction at Volari, which took place on March 13. A 2,174 sq ft four-bedroom unit was sold for $5.85 million ($2,690 psf) by