22 Aug '16, 6am

Huge losses despite a nine-year holding period | The Edge Property Singapore

Huge losses despite a nine-year holding period | The Edge Property Singapore

Despite a nine-year holding period, two condominium units in the Central Region were resold at a loss of more than $300,000. The bigger loss of $350,000 was from the sale of a 775 sq ft unit at The Clift . The seller had purchased the unit direct from the developer in January 2008 at $2,194 psf, which was the top 10% of all new sale transactions in the project. The unit was resold last month at a $1,742 psf, a five-year low. Currently, there are 46 listings for The Clift on TheEdgeProperty.com with prices starting from $1,922 psf. The second property was a 1,561 sq ft unit at Reflections at Keppel Bay , which was resold at a loss of $315,600. The seller had also held the property for nine years, having bought it in May 2007. The purchase price of $2,124 psf was in the top 25% of all new sale transactions in the project. The unit was resold in June for $1,922 psf. There are...

Full article: http://www.theedgeproperty.com.sg/content/huge-losses-des...

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