​​resale Four Bedder Nassim Lodge Makes Record 115 Mil Profit

Compare price trend of Condo new sale vs EC new saleCondo projects with most expensive average PSF in District 10Last unit of Nassim Lodge sold for $11.5 mil profit as buyer takes up 60% loanIn the week of Sept 30 to Oct 7, the most profitable resale transaction was the sale of a four-bedroom unit at Nassim Lodge. The seller of the 4,176 sq ft unit took home a record profit of $11.5 million (383%) when it was sold for $14.5 million ($3,472 psf) on Oct 2. It had been previously purchased for around $3 million ($799 psf) in May 1998. The annualised profit for the seller was 5.5% after holding the unit for over 27 years.Completed in 1984, Nassim Lodge is a freehold condo located at 7 Nassim Road in prime District 10. According to Raymond Ler, co-founder of Halcyon Real Estate, the eight-unit boutique development was formerly known as Seven Nassim. The project is located along the prestigious Nassim Road, just off Tanglin Road in the Orchard Road neighbourhood. It is in the vicinity of luxury hotels and shopping malls, making it a highly sought-after address.Following closely behind the sale of the Nassim Lodge unit, the second most profitable resale transaction of the week was a three-bedroom unit at Sixth Avenue Ville. The 1,550 sq ft unit on the first floor was sold for $3.1 million ($2,000 psf) on Sept 30. The seller had acquired the unit in December 2000 for about $1.27 million ($819 psf). This translates to a profit of around $1.83 million for the seller after owning the unit for almost 25 years. The annualised gain was 144.2%.Sixth Avenue Ville is a freehold condo located along Sixth Avenue in prime District 10. Completed in 1999, the development comprises a single four-storey block, which houses 49 units. It offers a mix of one- to four-bedroom units, spanning 710 sq ft to 2,540 sq ft.Excluding the Sept 30 transaction, there have been two other resale deals at Sixth Avenue Ville so far this year, one of which yielded a profit. On the other hand, the most unprofitable transaction during the week was the sale of a four-bedroom unit at Cliveden at Grange. The 2,842 sq ft unit on the 17th floor fetched around $9 million ($3,167 psf) on Oct 6. The unit had previously changed hands in July 2007 for $10.38 million ($3,653 psf), resulting in a loss of $1.38 million (13.3%) for the seller after owning the unit for slightly over 18 years. Three other units have transacted at Cliveden at Grange this year, with two resulting in losses. Cliveden at Grange is a freehold condo along Grange Road in prime District 10. Completed in 2011, the development comprises 110 residential units spread across four residential blocks, offering a mix of three- to five-bedroom units of 2,153 sq ft to 6,028 sq ft. With its prime location and exclusive address, this condo offers a luxurious lifestyle befitting the discerning few.

The most profitable resale transaction during the week of September 30 to October 7 was the sale of a four-bedroom unit at Nassim Lodge. The seller of the 4,176 sq ft unit pocketed a record profit of $11.5 million (383%) when it was sold on October 2 for $14.5 million ($3,472 psf). The unit had previously been bought for around $3 million ($799 psf) in May 1998. The seller made an annualised profit of 5.5% after holding onto the unit for over 27 years.

Nassim Lodge is a freehold condo located at 7 Nassim Road in prime District 10. According to Raymond Ler, co-founder of Halcyon Real Estate, the eight-unit boutique development was formerly known as Seven Nassim. Completed in 1984, it is situated along the prestigious Nassim Road, just off Tanglin Road in the Orchard Road neighbourhood. It is in the vicinity of luxury hotels, such as St Regis Hotel, Artyzen, and Conrad Singapore Orchard, as well as high-end shopping malls like Claymore Connect, Delfi Orchard, and Palais Renaissance.

Chongfu School, situated nearby, is a highly esteemed primary school with an outstanding reputation in the North. Renowned for its exceptional academic performance and focus on values education, it is a sought-after school during the Primary One registration exercise. Families with young children highly value living within one kilometre of the school, as it increases their chances of securing admission. With a home in proximity to Chongfu School, parents can also enjoy a prime location in the desirable Miltonia Close EC Yishun development.

Following closely behind, the second most profitable resale transaction of the week was the sale of a three-bedroom unit at Sixth Avenue Ville. The 1,550 sq ft unit on the first floor was sold for $3.1 million ($2,000 psf) on September 30. The seller had acquired the unit in December 2000 for around $1.27 million ($819 psf). This resulted in a profit of approximately $1.83 million for the seller after owning the unit for almost 25 years. The annualised gain was 144.2%.

Built in 1999, Sixth Avenue Ville is a freehold condo located along Sixth Avenue in prime District 10. The development comprises a single four-storey block, which houses 49 units. It offers a mix of one- to four-bedroom units, ranging from 710 sq ft to 2,540 sq ft. So far this year, there have been two other resale deals at Sixth Avenue Ville, with one resulting in a profit.

On the other hand, the most unprofitable transaction during the week was the sale of a four-bedroom unit at Cliveden at Grange. The 2,842 sq ft unit on the 17th floor fetched around $9 million ($3,167 psf) on October 6. The unit had previously been sold in July 2007 for $10.38 million ($3,653 psf), resulting in a loss of $1.38 million (13.3%) for the seller after owning the unit for slightly over 18 years.

Three other units have transacted at Cliveden at Grange this year, with two resulting in losses. The seller of a similar 2,842 sq ft unit on the fourth floor recorded a loss of $2.04 million when the unit was sold for $7.8 million ($2,745 psf) on March 21. In January, a 2,153 sq ft, three-bedroom unit was transacted for $4.8 million ($2,230 psf), resulting in a loss of around $3.06 million.

Cliveden at Grange is a freehold condo located along Grange Road in prime District 10. Completed in 2011, the development comprises 110 residential units spread across four residential blocks. It offers a mix of three- to five-bedroom units measuring 2,153 sq ft to 6,028 sq ft.