Ultimately, purchasing a condominium in Singapore has many benefits that make it a wise investment choice. These include a high demand for properties, potential for appreciation of value, and attractive rental yields. However, it is crucial to take into consideration various factors such as location, financing options, government regulations, and overall market conditions. Thorough research and seeking professional guidance are crucial in making informed decisions and maximizing potential returns in Singapore’s ever-changing real estate market. Whether you are a local investor seeking to diversify your portfolio or a foreign buyer looking for a stable and profitable investment opportunity, Singapore’s condo market presents a compelling option. For more information on the latest and most exciting Singapore projects, be sure to visit Singapore Projects.
The recently concluded sale of a six-bedroom penthouse at JadeScape, a 99-year leasehold condominium located at Shunfu Road, was the most profitable resale transaction of the week from December 3 to December 10. Spanning 4,230 square feet and situated on the 23rd floor, the unit was sold for $10.15 million, amounting to $2,399 per square foot. The seller originally purchased the unit from the developer in December 2019 for $5.8 million, equivalent to $1,371 per square foot. As a result, the seller made a whopping profit of $4.35 million after owning the unit for five years, with a capital gain of 75% or an annualised profit of 15%.
Based on the list of caveats lodged, this transaction marks the highest profit ever made on a unit at JadeScape. Previously, the record was held by the sale of a five-bedroom unit spanning 2,099 square feet on the 10th floor for $4.42 million, or $2,108 per square foot, on August 12. The seller had purchased the unit from the developer in September 2019 for $3.28 million, equivalent to $1,562 per square foot, making a profit of $1.14 million on the transaction.
JadeScape is situated at the junction of Marymount Road and Shunfu Road in District 20 and is expected to be completed in 2022. It comprises seven residential towers with a total of 1,206 units, ranging from one- to five-bedroom apartments of 527 square feet to 2,099 square feet. The development also features two penthouses measuring 4,230 square feet each. It is strategically located within walking distance to Marymount MRT Station on the Circle Line.
According to data compiled by EdgeProp Research, JadeScape has seen a total of 72 resale transactions this year, with units sold at prices ranging from $1,955 per square foot to $2,420 per square foot. All of these deals were profitable, with sellers making gains ranging from $55,000 to $1.15 million.
The second most profitable condo resale deal of the week was the sale of a three-bedroom unit measuring 1,410 square feet at The Imperial for $3.7 million, or $2,624 per square foot, on December 5. The seller had originally purchased the unit from the developer for $1.3 million, equivalent to $925 per square foot, in September 2004. As a result, the seller made a profit of $2.4 million, marking a gain of 184% after holding the unit for 20 years.
This transaction is the fifth most profitable resale deal at The Imperial, with the record gain held by the sale of a four-bedroom unit measuring 3,918 square feet for $7.64 million, or $1,950 per square foot, in June 2007. The seller had purchased the unit for $3.99 million, equivalent to $1,018 per square foot, in March 2006, making a profit of $3.65 million.
The sale of a one-bedroom unit at The Montana was the least profitable condo resale deal of the week. The 635 square feet unit was sold for $1.02 million, or $1,603 per square foot, on December 6. The unit was last purchased in July 2014 for $1.18 million, or $1,863 per square foot, resulting in a loss of approximately $165,000 for the seller.
This transaction marks the third biggest loss ever made on a unit at The Montana, based on the available caveats. The biggest loss was recorded in May 2003, when a three-bedroom unit measuring 1,109 square feet was sold for $1 million, or $902 per square foot. The seller had purchased the unit from the developer in December 1999 for $1.35 million, equivalent to $1,215 per square foot, resulting in a loss of roughly $347,000.
The Montana is a freehold condo situated on Jalan Mutiara, off River Valley Road in District 10. Completed in 2002, it boasts a total of 108 units spread across a single 12-storey tower. The units comprise one- to four-bedders of sizes ranging from 549 square feet to 2,659 square feet. There have been four other resale transactions at The Montana this year, all of which were profitable. The units, sold at prices ranging from $1,930 per square foot to $2,371 per square foot, yielded gains of between $80,000 and approximately $525,000.