The sale of a three-bedroom unit at La Suisse, a condo on Swiss View Road in District 11, earned its seller a profit of $1.63 million (177%) on May 31. The 2,099 sq ft unit changed hands for $2.55 million ($1,215 psf), having been bought for $920,000 ($438 psf) in November 2006. This translates to an annualised profit of 8.4% over more than 12 years.
The sale is the most profitable on record for the week of May 28 to June 4, and is also the most profitable deal ever recorded at the 999-year leasehold development. The latest transaction tops an earlier sale in 2011, which made a profit of $1.42 million (169%) for the seller of a 2,131 sq ft unit. The earlier sale fetched $2.25 million ($1,056 psf) when it changed hands in March that year, compared to its purchase price of $835,000 ($392 psf) in July 2006.