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Property making $1 million profit

Four private non-arrived houses were each offered in excess of $a million in profit within the week of March 28 to April 4.

On March 31, a couple,637 sq foot unit in the Draycott in prime District 10 fetched the week’s greatest profit of $1.93 million. The vendor had got it at $2.3 million, or $872 psf, in December 2005 and offered it at $4.23 million, or $1,604 psf. The net income calculates to 84%, or 6% annually over 11 years.

Exactly the same unit formerly altered hands in a $420,000 profit in December 2005. The prior seller had got it at $713 psf in 2006 making a 22% profit in four several weeks.

To date this season, there has been three rental contracts for units varying from 2,600 to two,700 sq foot in the Draycott, using the monthly rent varying from $6,800 to $7,200. The Draycott is really a freehold development with 132 units. It had been finished in 1980.

A Couple,228 sq foot unit at Varsity Park Condominium fetched the 2nd- greatest profit of $1.66 million for that week. The system was purchased at $890,910, or $400 psf, in the developer in November 2004 and it was offered at $2.55 million, or $1,144 psf, on March 31. The net income calculates to 186%, or 9% annually over 12 years.

There have been five rental contracts for units varying from 2,200 to two,300 sq foot at Varsity Park Condominium in 2H2016, using the monthly rent averaging $5,740. This means a 3% gross rental yield for that lately transacted unit. The leasehold Varsity Park Condominium is situated opposite the Kent Ridge Bus Terminal and also the National College of Singapore. It had been finished in 2008 and it has 530 units.

In line with the matching of URA caveat data, there has been 299 lucrative and five unprofitable transactions at Varsity Park Condominium. The losses vary from $38,052 to $180,000. The newest unprofitable transaction happened in March this season whenever a 1,475 sq foot unit was offered in a $180,000 loss. The vendor had got it at $1.78 million, or $1,207 psf, in September 2012 and offered it at $1.six million, or $1,085 psf.

On March 29, a 3,240 sq foot unit at Wing on Existence Garden in prime District 10 fetched the 3rd-greatest profit of $1.4 million for that week. The vendor got it at $3.8 million, or $1,173 psf, in May 2009 and offered it at $5.two million, or $1,605 psf. The net income calculates to 37%, or 4% annually over eight years.

In line with the matching of URA caveat data, the system has altered hands four occasions. It had been formerly offered at $1,080 psf in 1997, $642 psf in 1998 and $1,173 psf in ’09.

To date this season, there has been three rental contracts for units above 3,000 sq foot at Wing on Existence Garden, using the monthly rent varying from $7,500 to $8,000. Wing on Existence Garden is really a freehold development with 81 units. It had been finished in 1982.

Single,259 sq foot unit at Botanic Gardens View in prime District 10 fetched a $1.a million profit on April 4. The vendor had got it at $900,000, or $715 psf, in June 2000 and offered it at $two million, or $1,588 psf. The net income calculates to 122% or, 5% annually over 17 years.

There have been two rental contracts for units varying from 1,200 to at least one,300 sq foot at Botanic Gardens View in 2H2016, using the monthly rent at $2,800 and $3,000. The freehold Botanic Gardens View is situated across Cluny Road from Singapore Botanic Gardens. It’s close to the approaching Napier MRT station and it has 144 units.

In line with the matching of URA caveat data, there has been 25 lucrative and 4 unprofitable transactions at Botanic Gardens View. The newest unprofitable transaction happened in The month of january 2006, whenever a 1,410 sq foot unit was offered in a $30,000 loss. The vendor had bought the system at $624 psf in April 2004 and offered it at $603 psf.