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ST REGIS RESIDENCES SINGAPORE
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http://www.businesstimes.com.sg/sub/...51248,00.html?
Published September 22, 2009
Whopping $5m subsale loss for St Regis unit
By KALPANA RASHIWALA
A UNIT at St Regis Residences chalked up the biggest subsale loss in the first eight months of this year: a massive $5 million.
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.
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http://www.theedgeproperty.com.sg/co...gis-residences
Singaporean buyer scores a bargain at St Regis Residences
By Feily Sofian / The Edge Property | January 21, 2017 9:00 AM MYT
One of the first few resale transactions in 2017 resulted in a hefty loss for the seller. On Jan 3, a high-floor unit at St Regis Residences Singapore was sold at a loss of $2.3 million. The seller bought the unit in a sub-sale transaction in 2008 at $3,100 psf and resold it at $2,268 psf. The loss works out to 27%, or 4% annually over 8½ years.
The buyer, a Singaporean, appeared to have scored a bargain. There have been a total of 237 transactions at St Regis so far, based on caveats lodged. The latest price of $2,268 psf was in the bottom 16% of all historical transactions at the development.
Prices at St Regis peaked in 2007/08 when 21 units changed hands in sub-sale transactions at an average price of $3,231 psf. Of these units, 10 were flipped in less than a year at profits ranging from $310,000 to $12.8 million.
The $12.8 million profit accrued to a penthouse that was bought from the developer in 2006 at $2,530 psf and sold less than a year later to a Japanese billionaire at $4,653 psf, the highest price recorded at St Regis historically. The penthouse made headlines in 2015 when the Japanese owner sold it at a loss of $15.8 million.
Fortunes have changed dramatically over the past two years. In 2015, all eight resale transactions at St Regis were in the red, with losses averaging $2.2 million. Last year, five out of seven sellers booked losses ranging from $393,950 to $3.1 million.
St Regis is a 999-year leasehold development comprising 173 luxury residences. Prices averaged $2,280 psf in 2016. Rents for four-bedroom units ranged from $8,600 to $15,850 a month in 4Q2016, depending on the unit size.
On a brighter note, a 3,229 sq ft unit at The Quayside was sold at a profit of close to $2 million on Jan 6. The property was held for more than 11 years and the profit works out to 6% a year on a compounded basis. The unit was bought in 2005 at just $650 psf and resold at $1,262 psf.
The Quayside is a 99-year leasehold riverfront development at Robertson Quay. Completed in 1998, the project comprises just 79 units. Prices averaged $1,258 psf in 2016. The project’s historical high price was $1,535 psf in August 2013 for a 1,550 sq ft unit. Rents for three-bedroom units averaged $5,294 in 4Q2016.
Another property also raked in a profit of more than $1 million in the week of Jan 3 to 10. The 1,830 sq ft unit at Varsity Park Condominium, near the National University of Singapore, was purchased in 2006 at just $450 psf and resold at $1,060 psf. This translates into a profit of 8% a year on a compounded basis.
Varsity Park Condominium is a 99-year leasehold project comprising 530 units. Prices averaged $1,059 psf in 2016. The project’s historical high price was $1,285 psf in June 2013 for a 1,012 sq ft unit. Rents averaged $3,550 a month for two-bedroom units of 1,000 to 1,100 sq ft and $4,820 for three-bedroom units of 1,300 to 1,600 sq ft.
http://s3-ap-southeast-1.amazonaws.c...Jan%202017.JPG
