Unbelievable but it is true, the famous, luxurious penthouse unit at The Trevose located in District 11 was sold as low as $764 psf or $2.55 million on 25th of January. The seller acquired the fifth-floor unit, with an area of 3,337 sq ft at $907 psf 7 years ago, 2010 October. Something wrong took place, loss works reached under a 6 years holding period. As per URA warning data, the latest transaction for a similar properties in 2012 of May when a particular property was purchased with a price of $2.9 million or $864 psf with an area of 3,358 sq ft.
Last year, there were about six contracts which were for rent and those units bigger than the 3,000 sq ft found at The Trevose. The monthly rentals reached up to $8,2000 which simply mean that a 4% gross rental was placed on top for the new transacted property. The Trevose can be found adjacent to the Raffles Town Club and 2011 it was fully completed. The Trevose, a 99-year rent out condominium covers 142 units.
It was on January 25, the agent of the 527 sq ft property, The Cliff, suffered a deficit which amounted to $188,860. May 2012, the seller purchased the unit at only $2,178 psf under a sub –sale scheme which in turned was sold at a reduced price which was only $1,820 psf. The deficit almost amounted to 16% or 4% yearly which runs over 5 years of a holding period. The units between 500 and 600 sq ft at The Clift experienced its highest demand at a price of 2,370 psf in 2013 and shifted down to $2,026 psf last year, 2016.
Each month, the rent for that particular size runs an average of $3,474 per last year’s price. Based on the market transacted amount of $960,000, 4% of it goes to the total rental for each closed transactions. The Cliff is a 99-year freehold development, found across the opposite Amoy Street Food Centre and a few steps going to Tanjong Pagar and Telok Ayer MRT stations. It is a fully accomplished 312 properties.
The first deficit transaction ever to happen at Astonia Park was on January 26 since it evolved, 2010. January 25, 2015 was the exact date where the 1,173 sq ft was purchased at $938 psf and sold at after the expiration of the four-year holding period, a policy mandated under Seller’s Stamp Duty. The loss worked amounted to $10,000. The seller would have suffer for the consequences, which is 4% or $43,600 SSD if the selling took place ahead of the given period.
Based on the warning data of URA, this unit has been through different hands four times already. One seller in 2007, savored a loss of $128,000, while the succeeding seller, experienced the other way around, a gained of $550,000 was enjoyed.
The monthly unit amortization for areas 1,100 and 1,200 sq ft at Astoria Park ranged $3,527 previous year. Astoria Park is a 99-year leasehold condo proximate to the Kembangan MRT station. It comprises 354 units and completely done in 1995.
A new property development you need to check and acquire, the Bungalows by the Sea. A great place to rest and commune with nature. Perfect also for growing kids and adults who wants to rest from a long week of work and responsibility.
