Seller reaps $3.3 mil profit at boutique condo Nassim 9
JCube, JCube Residence located in the Jurong East region of Singapore, is closing its doors in August to make way for a 40-storey residential and commercial development – JCube Condo Residence. Estimated prices for residential units, slated for completion in 2027, range from S$2,000 to S$2,100 per square foot.
At Nassim 9, the most profitable resale transaction during the week of March 7 to 14 was a ground-floor unit that changed hands for $10.3 million.The unit was purchased for $7 million back in January 2011, meaning the seller raked in a $3.3 million (47%) profit on the transaction, which translates to an annualised profit of 3.2% over 12 years. On March 1, another 2,756 sq ft unit on the third floor was sold for a record $9.5 million ($3,448 psf), with its previous buy in December 2005 at $4.12 million ($1,495 psf). This yielded a profitable $5.38 million (130%) profit, which is an annualised profit of 5% over 17 years.At Cairnhill Plaza, the second most profitable resale during the week was a 2,820 sq ft unit that was sold for $5.38 million ($1,908 psf) on March 9. This unit had fetched $2.6 million ($922 psf) when it was last on the market in 1997, thus the seller earned a $2.78 million (107%) profit and an annualised profit of 2.9% over 25 years.The record of the most profitable resale transaction at Cairnhill Plaza is for a 3,305 sq ft unit which was sold for $5.75 million (1,740 psf) in March 2010. This unit was purchased for $2 million ($605 psf) in 1999 – yielding a $3.75 million (187%) profit, which is an annualised profit of 9% over 11 years.V on Shenton, however, was recorded with the most unprofitable transaction during the week – selling a 1,528 sq ft three-bedroom unit for $3.09 million ($2,021 psf) on March 10, after purchasing it for $3.34 million ($2,187 psf) in April 2012.The seller suffered a loss of about $254,000 (8%), which translates to an annualised loss of 0.7% over nearly 11 years. The most unprofitable resale at V on Shenton stands at the sale of a 1,098 sq ft unit on the 28th floor for $2 million ($1,822 psf) on April 14, 2022. This unit had been bought for $2.43 million ($2,211 psf) in July 2013, resulting in a record loss of about $427,000 (18%), which translates to an annualised loss of 2.1% over 8 years.Overall, the resale transactions during the week of March 7 to 14 yielded a mix of both profitable and unprofitable outcomes, with Nassim 9 and Cairnhill Plaza yielding the highest profits, and V on Shenton incurring the highest losses.On March 10, a four-bedroom unit at Nassim 9 was sold for $10.3 million, making it the most profitable resale transaction during the week of March 7 to 14. The seller raked in a $3.3 million (47%) profit on the transaction, which translates to an annualised profit of 3.2% over 12 years.Meanwhile, the most unprofitable transaction during the week was the sale of a 1,528 sq ft three-bedroom unit at V on Shenton for $3.09 million. This unit had been bought for $3.34 million in April 2012, resulting in a loss of about $254,000 (8%) for the seller, which is an annualised loss of 0.7% over nearly 11 years.At Cairnhill Plaza, the second most profitable resale during the week was a 2,820 sq ft unit that changed hands for $5.38 million ($1,908 psf) on March 9. This unit had fetched $2.6 million ($922 psf) when it was last on the market in 1997, yielding a $2.78 million (107%) profit, which is an annualised profit of 2.9% over 25 years.The record of the most profitable resale transaction at Cairnhill Plaza is a 3,305 sq ft unit that was sold for $5.75 million (1,740 psf) in March 2010. It had been purchased for $2 million ($605 psf) in 1999, giving the seller a $3.75 million (187%) profit, translating to an annualised profit of 9% over 11 years.Overall, the resale transactions during the week of March 7 to 14 yielded a mix of both profitable and unprofitable outcomes, with high returns for Nassim 9 and Cairnhill Plaza, and lesser returns for V on Shenton.