at $3,948 psf
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Nassim 9, a luxury development located in prime District 10, saw a record-breaking resale transaction during the period of February 4 to 7, marking it as the most profitable private non-landed resale during this period.During this time, a 2,486 sq ft, four-bedroom unit located on the third floor was sold for $7.5 million, or $3,016 per square foot (psf) on February 7. This transaction was recorded as the most profitable private non-landed resale during this time period.According to URA caveats, the seller had bought the unit for $4.12 million, or $1,641 psf, back in December 2005. This resulted in a profit of $3.42 million, or 83.8% of their original purchase price. This translates to an annualised gain of 3.2% over 19 years.This transaction is the third-most profitable resale deal at Nassim 9, with the current record being set in March 2023 when a larger four-bedroom unit spanning 2,756 sq ft was sold for $9.5 million ($3,448 psf). It had been bought for $4.12 million ($1,495 psf) in December 2005, resulting in a profit of $5.38 million (130.6%), or an annualised gain of 5% over 17 years.AdvertisementAdvertisementPrior to the unit sold on February 7, the last caveated transaction at Nassim 9 was in March 2023, when a 3,251 sq ft, four-bedroom unit was sold for $10.3 million ($3,169 psf). This resulted in a profit of $3.3 million.Nassim 9, which has only eight units, is a boutique condo located along Nassim Road in prime District 10. It was completed in 2002 and has four-bedroom units spanning between 2,756 and 3,423 sq ft.In second place for the most profitable resale during this period was Mount Faber Lodge, a boutique freehold development that saw a triplex penthouse unit sell for $5 million ($1,350 psf) on February 5. The unit had last changed hands in August 2001 for $1.6 million, resulting in a profit of $3.4 million (212.5%), or an annualised gain of 5% over 23.5 years.The unit sold on February 5 is the most profitable unit transacted at Mount Faber Lodge to date. The previous record was held by a three-bedroom unit spanning 2,669 sq ft on the third floor that was sold for $3.89 million ($1,457 psf) in October 2022. The unit had been purchased for $1.3 million ($487 psf) in January 2006, resulting in a profit of $2.59 million (199.2%).Completed in 1983, Mount Faber Lodge is a boutique freehold development located along Mount Faber Road in District 4. It consists of 84 units, including studio units spanning 1,098 sq ft, and two- and three-bedroom units from 1,173 to 2,454 sq ft. The development also has 20 five-bedroom triplex penthouses sized between 3,703 and 3,724 sq ft.AdvertisementAdvertisementIn third place was the sale of a three-bedroom unit at Amaryllis Ville, a 99-year leasehold condo in prime District 11. The 1,238 sq ft unit on the 28th floor was sold for $2.65 million ($2,141 psf) on February 5. It had last changed hands for $1.09 million ($884 psf) in June 2005. As a result, the seller made a profit of $1.56 million (142.2%), or an annualised gain of 4.6% over 19.5 years.The February 5 transaction was the third-most profitable for Amaryllis Ville, with the record belonging to a 1,991 sq ft, three-bedroom unit on the 17th floor that was sold for $3.75 million ($1,885 psf) in September 2023. The unit had been bought for $1.95 million ($979 psf) in June 2009, resulting in a profit of $1.8 million (92.5%), or an annualised gain of 4.7% over 14 years.According to resale data from EdgeProp Singapore, prices at Amaryllis Ville have been steadily increasing in recent years. A rolling 12-month average showed that the average price hit $1,897 psf in February 2023 before rising to $2,001 psf in February 2024. Last month, the average price hit $2,082 psf, a 4% year-on-year increase.Amaryllis Ville is made up of 311 units and is located along Newton Road. Completed in 2004, it offers a mix of studio units spanning 657 sq ft, two-bedroom units from 1,173 to 2,454 sq ft, and three-bedroom units from 958 to 2,637 sq ft. The development also has 20 five-bedroom triplex penthouses measuring 3,703 to 3,724 sq ft.There were no unprofitable transactions recorded during this period.