A 4,758 sqft unit on the third floor of Balmoral Gardens posted the highest gain of $9.17 million (524%) for the week of May 1 to 8, according to URA caveats. On May 4, the unit changed hands for $10.9 million ($2,295 psf). The seller purchased the unit in Nov 2002 for just $1.74 million ($368 psf). This translates into an annualised profit of 13% over a holding period of 15.4 years. Second on the table of gains for the week is another unit at Balmoral Gardens. The 4,779 sqft unit was sold for $10.8 million ($2,268 psf) on May 4. Having bought the unit in Mar 1996 for $5 million ($1,046 psf), the owner made a profit of $5.8 million (117%), or an annualised profit of 4% over a holding period of 22 years. Notably, the two transactions at Balmoral Gardens were part of a bulk purchase of eight units by an anonymous intl fund on May 4. The eight units were bought at an average price of $10.4 million ($2,316 psf) each, according to transactions culled from URA caveats as at May 15.... Continue Reading