Unit at 8 Napier incurs $969,000 loss

24 Jun 2019 13:17 #24832 by toapayohlady
The greatest loss incurred over the week in review was from the resale of a 2,013 sq ft, three-bedroom unit at 8 Napier in District 10. Having sold the property for $6.29 million ($3,124 psf) on June 10, the seller sustained a 13% loss of $969,000. The unit was purchased in December 2007 for $7.26 million ($3,605 psf). Over a holding period of 11.5 years, this translates into an annualised loss of 1%.

Located on Napier Road, 8 Napier is a freehold development comprising 46 units. Completed in 2010, it is a three-minute walk to the upcoming Napier MRT Station on the Thomson-East Coast Line, which is expected to be completed in 2021.



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