A resale unit sold at The Montana made the top gain for the week of July 24 to 31. The seller of the four-bedroom penthouse unit reaped $1.48 million over a holding period of 18.6 years (Credit: Samuel Isaac Chua/ The Edge Singapore)
The seller of a unit at The Montana made the top gain over the week of July 24 to 31. The 2,390 sq ft, four-bedroom penthouse on the 11th floor was purchased in December 1999 for $2.2 million ($921 psf) and sold for $3.68 million ($1,540 psf) in July this year. The seller walked away with a $1.48 million gain, or an annualised profit of 3% over 18.6 years. This transaction also marks the highest profit fetched among all resales within the development.
The Montana, off River Valley Road, is a 10-minute walk from Great World MRT station and is in prime District 10.
Four other transactions at The Montana raked in more than $1 million in profit. All four units were sold in September and October 2013. Of these, the seller of a 1,324 sq ft, three-bedroom unit on the 11th floor reaped the highest profit, at $1.13 million. The unit was purchased in November 1999 for $1.47 million ($1,107 psf) and sold at $2.6 million ($1,964 psf) in September 2013. This translates into a 77% profit, or an annualised profit of 4% over 13.9 years.
The second most profitable deal for the week in review was for a 2,239 sq ft, four-bedroom unit at Costa Rhu. The seller bought the thirdfloor unit for $2.61 million ($1,164 psf) in September 2007 and sold it at $3.5 million ($1,563 psf) last month. He reaped a 34% profit of $895,000, or an annualised profit of 3% over a holding period of 10.9 years.
This was the second time the unit changed hands. The previous owner bought the unit from the developer in April 1995 for $1.67 million ($748 psf).
Costa Rhu, in District 15, is a 14-minute drive to Marina Bay Sands via Nicoll Highway, and a 16-minute drive to Raffles Place, Singapore’s financial district. Some units at Costa Rhu face the Marina Reservoir.
The seller of a unit at Southaven I, off Upper Bukit Timah Road in District 21, made the third most profitable transaction for the week. The 1,658 sq ft unit on the first floor was bought in June 2008 at $900,000 ($543 psf) and sold for $1.6 million ($965 psf). This translates into a 78% profit of $700,000, or an annualised profit of 6% over a holding period of 10.2 years.
The seller of a two-bedroom unit at Vida incurred a loss of $639,010 in July (Credit: Samuel Isaac Chua/ The Edge Singapore)
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