SINGAPORE (Apr 2): A three-bedroom duplex at the 387-unit Orchard Scotts in Newton was sold for $3.45 million ($1,587 psf) on March 16, marking the first transaction at the development in 2018, according to caveats lodged as at March 27.

The seller made a $1.03 million (23%) loss, which translated into an annualised loss of 4% over a holding period of more than seven years. Bought in November 2010 for $4.5 million ($2,060 psf), the fourth-floor unit measures 2,174 sq ft.

In December 2015, an identical unit on the second floor was put up for mortgagee sale at an auction held by Knight Frank. It sold for $3.1 million ($1,407 psf), which is $1.2 million (28%) less than its purchase price of $4.2 million ($1,945 psf) in February 2011.

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