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The seller of a unit at Highgate made the best gain of $1.27 million on the week of October 22 to 29. The 1,905 sq ft unit on the sixth floor was purchased for $1.15 million ($604 psf) at June 2009, and marketed for $2.42 million ($1,270 psf) on October 24. The vendor made a 110% gain, or an annualised gain of 7 percent over around 10 years.
Finished in 1995, Highgate includes 216 units in five cubes. It’s a four-minute driveway to Beauty World Plaza and Beauty World Centre.
The 2nd best gain made over the week — a 171% gain of $1.23 million — was at Bedok Court, located along Bedok South Avenue 3 at District 16. This means that the vendor made an annualised gain of 5 percent over around 20 years.
The growth has a total of 280 units over 19 floors, and was created by Bedokville Development. It’s a 10-minute walk to Tanah Merah MRT Station on the East-West Line, a four-minute walk into Bedok View Secondary School, an eight-minute walk into Temasek Primary School, and a 13-minute walk into Temasek Secondary School.
Meanwhile, another vendor of a fifth-floor unit at Highgate made the third most profitable transaction for its week using a $1.18 million gain. The 1,636 sq feet, four-bedroom unit was purchased for $870,000 ($532 psf) in January 1999, and sold for $2.045 million ($1,250 psf) on October 25. The vendor made a 135% gain, or an annualised gain of 4 percent over almost 21 years.
On the other hand, the greatest reduction incurred within the week was in the resale price of a 2,013 sq ft unit at 8 Napier, in prime District 10. The seller sold the device for about $ 5.8 million ($2,881 psf) on October 29, and sustained an 18% reduction of $1.28 million. Within a holding period of almost 12 years, this translates into an annualised reduction of 1.7 percent.
The freehold 8 Napier, located on Napier Road, contains 46 units. Finished in 2010, it’s a three-minute walk into the coming Napier MRT Station on the Thomson-East Coast Line, which is completed at 2021.
