Penthouse at UE BizHub City rakes in $2.2 mil profit
The sale of a five-bedroom penthouse at UE BizHub City (formerly known as UE Square) is topping the list of most profitable resale transactions from Sept 26 to Oct 10. The unit, located on the 18th floor and measuring 3,089 sq ft was bought for $4.1 million ($1,327 psf) in December 2009 and was resold for $6.28 million ($2,031 psf) on Oct 6 – yielding a profit of $2.18 million (53%) or an annualised gain of 3.1% over 14 years.
A record that it now leaps over is the 2,196 sq ft unit located on the fourth floor which was bought for $1.86 million ($849 psf) in April 2009 and was transacted for $4 million ($1,822 psf) in June 2018, yielding a profit of $2.14 million (114%) or an annualised gain of 8.6% over nine years.
UE BizHub City is a mixed-use development completed in 1997 which comprises an 18-storey office building, a four-storey shopping podium, and a pair of 18-storey residential blocks that house 345 units; it is located in the Robertson Quay area and is next to Fort Canning MRT Station.
Resale residential prices at UE BizHub City have seen significant increases over the past few years; the average price at the development is now $1,986 psf, up from $1,327 psf in October 2013. Prices are comparable to other nearby residential projects such as RV Point ($1,982 psf), Vivace ($2,181 psf) and Robertson Edge ($2,075 psf).
The most unprofitable resale transaction between Sept 26 and Oct 10 was the sale of a 1,615 sq ft unit at Marina Bay Suites. Located on the 37th floor, the three-bedroom unit was sold for $3.15 million ($1,951 psf) on Sept 27; it had been bought for $3.8 million ($2,357 psf) back in June 2010 resulting in a loss of roughly $656,000 (17%) or an annualised loss of 1.4% over 13 years.
The second most profitable transaction that occurred between Sept 26 and Oct 10 was the sale of a three-bedroom unit at The Chuan. The 1,367 sq ft unit, on the 20th floor, fetched $3.02 million ($2,208 psf) on Sept 29 – having been bought for $992,000 ($726 psf) in October 2006 – and setting a new profit record at the 999-year leasehold condo, amounting to $2.03 million (204%) or an annualised gain of 6.8% over 17 years.
At The Chuan, there have been only two resale transactions lodged this year, with the other involving a 1,281 sq ft unit on the ninth floor which changed hands for $2.5 million ($1,952 psf) on July 31.
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The sale of a five-bedroom penthouse at UE BizHub City (formerly known as UE Square) from Sept 26 to Oct 10 yielded the greatest profit of all the resale transactions. Located on the 18th floor and measuring 3,089 sq ft, it was sold for $6.28 million ($2,031 psf) on Oct 6, resulting in a profit of $2.18 million (53%) or an annualised gain of 3.1% over 14 years.
The Orchard Boulevard Condo is a luxurious and premium residence in Singapore’s District 9. Blessed with its location in the centre of Orchard Road, the area is known for its vast array of shopping malls and entertainment spots, offering residents easy access to retail therapy. From high-end boutiques to discount outlets, from upscale restaurants to convenient quick-service eateries, the choices are endless. With various public transportation links and a host of other amenities nearby, residents of the Orchard Boulevard Condo are spoiled for choice and convenience.
Living in a place surrounded by such wealth of entertainment and dining options is certainly an attractive proposition. It provides an uplifting environment and a high quality of life. On top of that, the Orchard Boulevard Condo also offers a safe and secure living experience with its 24-hour security service. This ensures that the residents can enjoy a comfortable and worry-free lifestyle while living within its confines.
In conclusion, the Orchard Boulevard Condo is an ideal residential choice for both locals and expatriates, due to its location amidst the vibrant shopping landscape in Orchard Road and its numerous amenities. With such an unparalleled living experience, it is no wonder that it has been gaining great popularity among potential homeowners.
This development is the flagship building of United Engineers (now privatised and a unit of Yanlord Land) and is a mixed-use project completed in 1997; it comprises an 18-storey office building, a four-storey shopping podium and two 18-storey residential blocks which house 345 units.
UE BizHub City is located in the Robertson Quay area, within a short walk of the eateries along Robertson Quay and Quayside, and is next to Fort Canning MRT Station. As a result of rising demand in the area, residential prices at UE BizHub City have seen significant increases over the past few years and the current average price is now $1,986 psf – on par with nearby residential projects such as RV Point, Vivace and Robertson Edge.
The second most profitable transaction during the period in review was the sale of a three-bedroom unit at The Chuan. The 1,367 sq ft unit on the 20th floor sold for $3.02 million ($2,208 psf) on Sept 29, having been bought for $992,000 ($726 psf) in October 2006; this resulted in a profit of $2.03 million (204%) or an annualised gain of 6.8% over 17 years – setting a new record profit at the development.
On the other hand, the most unprofitable transaction during this period was the sale of a 1,615 sq ft unit at Marina Bay Suites. The three-bedroom unit on the 37th floor was sold for $3.15 million ($1,951 psf) on Sept 27, having been bought for $3.8 million ($2,357 psf) back in June 2010; this yielded a loss of about $656,000 (17%) or an annualised loss of 1.4% over 13 years.
Marina Bay Suites is a 99-year leasehold development located in the Marina Bay financial district – completed in 2013, it has 221 units. So far this year, there have been seven unprofitable resale transactions, with the greatest loss at the development amounting to $1.13 million (17%) or an annualised loss of 1.4% over 13 years. The lone profitable transaction this year resulted in a gain of $185,000.