Unit at Botanic Gardens View sees $2.14 mil profit
The first transaction at Botanic Gardens View this year turned out to be the most profitable deal in the week of May 15 to 22, as revealed by the matching of URA caveat data as at May 29. A 1,410 sq ft, three-bedroom unit on the sixth floor of the 145-unit freehold development was sold for $3 million ($2,128 psf) on May 22, resulting in a $2.14 million (249%) gain for the previous owner, who purchased it for $860,100 ($610 psf) in 2005. This translates into an annualised profit of 10% over a holding period of 12.9 years.
Completed in 1970, Botanic Gardens View is located at Taman Serasi, just off Cluny Road in prime District 10. Situated near reputable educational institutions such as Raffles Girls’ Secondary School and Crescent Girls’ School, the development is a three-minute walk to the Napier MRT station on the future Thomson-East Coast Line. The May 22 transaction is the latest in a series of profitable deals at the condominium. Last year, four units changed hands at an average gain of $538,750 (53%). On April 4 last year, a 1,259 sq ft unit was sold for a $1.1 million (122%) profit.
Also in the prime district is 999-year leasehold condo The Tresor, where the seller of a 1,927 sq ft, four-bedroom unit made a profit of $1.22 million (47%) on May 16. The unit on the third floor was purchased in 2007, when it was newly completed, for $2.61 million ($1,353 psf). It was then sold for $3.83 million ($1,987 psf), or an annualised gain of 3% over a holding period of 11.2 years. This is also the first transaction at the condo this year. In 2017, there were four profitable transactions, with profits ranging from $327,000 to $411,000, and three unprofitable transactions, with losses ranging from $80,000 to $228,000.