A flat at St. Regis Residences generated a staggering $5 million subsale loss, the most substantial this year thus far.

On the flip side, a unit located at the same development chalked up the largest gain. In July, the flat at St. Regis’ fifth floor was transacted at $9.5 million, an increase of $1.39 million from its original purchase. The seller purchased the same unit at $8.5 million directly from developer Richmond Hotel Private Limited in June 2006.

The unit that generated the biggest loss was transacted in May at $7.98 million. The flat, which is found on the sixth floor of the 173-unit leasehold development, was sold at $13 million in July 2007, when the luxury housing market experienced a big boom.

Interestingly, the subsale price of $7.98 million in May 2009 is not a far cry from the $8.16 million original purchase price in June 2006: a difference of only $180,000 compared to the latest $5 million shortfall.

Another unit at the 999-year leasehold project, an 11th floor flat, generated a loss of $2.7 million as it was sold in June 2009 at $7.8 million. The said unit was previously transacted at $10.5 million in April 2007.

All three of these transactions were recorded in the analysis of URA Realis caveats as of 28 August 2009 conducted by Savills Singapore.

In terms of percentage, the most profitable subsale deal overall for this year’s first eight months yielded a 103 percent gain. It was a $1.64 million ($1,250 per square foot) transaction for a flat at Southbank’s 34th level that more than doubled the $807,600 ($615 per square foot) price it was previously sold in April 2007.

The biggest loss in percentage terms is 41 percent for a 55th level unit at The Sail @ Marina Bay. The flat was transacted at approximately $1.89 million ($1,600 per square foot) in January. In June 2007, it was sold for $3.2 million ($2,700 per square foot), thus a deficit of about $1.31 million.
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