Subsale Market | Lush Dream Home

Tag Archives: Subsale Market

A look at the leaders of subsale market this year

Posted on 22 Sep 2009 | Comments Off

Centris has the most profitable subsales; Montebleu tops in loss-making deals

THE Centris in Jurong West has the highest number of profitable subsale transactions so far this year.

Savills Singapore found that 69 units in the development have changed hands in the subsale market since the start of the year at higher prices than previously for the same units.

One Amber in Katong has the second highest number of profitable subsales at 63, followed by 58 at The Metropolitan Condo in Alexandra Road, 55 at Casa Merah, 44 for The Quartz in the Buangkok area, and 41 for Carabelle at West Coast Way.

In all these projects, there were more profitable subsale deals than loss-making ones this year. In fact, Carabelle did not have any loss-making subsale transactions this year.

Savills’ analysis was based on URA Realis caveats information as at Aug 28 this year.

However, some projects saw more loss-making subsale deals than profitable ones during the study period. Examples include Montebleu in the Balestier area, which had 27 subsale losses against six subsale gains; The Coast at Sentosa Cove (12 losses versus 10 gainers); The Parc Condo at West Coast Walk (12 losses versus three gainers); and St Regis Residences (nine losses versus two gainers).

For Montebleu, most of those who divested in the subsale market this year had bought their units from the project’s developer in 2007. For the 27 owners who sold their units in the project at a loss this year, the average loss per unit was about $115,600 or 10.1 per cent. Continue reading →

Comments Off on A look at the leaders of subsale market this year

Posted in Property Market / Real Estate

Tagged Singapore Property, Singapore Property Market, Singapore Property Prices, Subsale Market

Whopping $5m subsale loss for St Regis unit

Posted on 22 Sep 2009 | Comments Off

A UNIT at St Regis Residences chalked up the biggest subsale loss in the first eight months of this year: a massive $5 million.

St Regis: The top loss-incurring unit, on the sixth floor, was sold in May for $7.98m. It had previously changed hands at almost $13m, at the market peak in July 2007.

But on the flip side, it was also a unit at the same 999-year leasehold development which raked in the biggest gain of $1.39 million. The fifth floor unit was transacted in July at $9.5 million – up from the $8.1 million original purchase price. The seller had bought the unit direct from the developer in June 2006.

The loss-incurring unit, on the sixth floor, was sold in May. The transacted price was $7.98 million, compared to the nearly $13 million at which the apartment previously changed hands in July 2007, during the peak of the luxury housing market.

Interestingly, the $7.98 million subsale price for the property in May is not far off the $8.16 million that the apartment had been originally sold by the project’s developer in June 2006.

Another St Regis apartment, this time on the 11th floor, was transacted at $7.8 million in June – $2.7 million lower than the $10.5 million the developer had sold the unit for in April 2007.

All three transactions were picked up in Savills Singapore’s analysis of URA Realis caveats as at Aug 28.

Overall, in percentage terms, the most profitable subsale transaction this year yielded a 103 per cent gain.

It involved the sale of a 34th level unit at Southbank, located at North Bridge Road, for $1.64 million ($1,250 per square foot). The transaction last month is nearly double the $807,600 or $615 psf that the developer sold the unit for in July 2006.

The largest percentage loss of 41 per cent accrued to the seller of a unit on the 55th level of The Sail @ Marina Bay. The unit sold for about $1.89 million or $1,600 psf in January – lower than the nearly $3.2 million or $2,700 psf it was previously transacted at in June 2007.

Source : Business Times – 22 Sep 2009