The Nassim unit tops Q2 resale gains, with seller reaping S$6m profit after 4 years

A TRANSACTION for a 4,069 square foot (sq ft) unit at The Nassim was the most profitable deal by quantum in the resale market in the second quarter, as the seller walked away with a cool S$6 milllion in profit in a little over 4 years.

According to data collated for The Business Times by real estate consultancy Cushman & Wakefield, the unit at the freehold condominium in prime District 10, bought for around S$14 million (S$3,440 per sq ft) in February 2018, was sold in May this year for S$20 million (S$4,915 psf). This translates to an annualised profit of 8.7 per cent. Based on the purchase price, the profit worked out to 43 per cent in terms of percentage.

For its study, Cushman & Wakefield studied caveats for private, non-landed homes with a prior purchase history for the period between January 2012 and June 2022, and which were transacted in Q2 2022. It then ranked the top 5 profit-making and loss-making deals, both by percentage and by quantum. The analysis excluded transaction costs and taxes, such as buyer stamp duty and seller stamp duties.