JadeScape, a 99-year leasehold condominium located on Shunfu Road, made headlines during the week of Dec 3 to Dec 10 as the site of the most profitable condo resale transaction. The luxurious six-bedroom penthouse spanning 4,230 sq ft was sold on Dec 9 for a whopping $10.15 million, translating to a price per square foot of $2,399. This unit, situated on the 23rd floor, was originally purchased from the developer for $5.8 million ($1,371 psf) back in December 2014. The seller’s move to part with the unit five years later has resulted in a lucrative profit of $4.35 million, representing a capital gain of 75% or an annualised profit of 15%.
According to data from caveats lodged, this sale marks the largest profit ever achieved at JadeScape. The previous record was held by a five-bedroom unit measuring 2,099 sq ft on the 10th floor, which was sold for $4.42 million ($2,108 psf) on Aug 12. The seller, who had purchased the unit from the developer in September 2019 for $3.28 million ($1,562 psf), earned a profit of $1.14 million.
JadeScape, a seven-tower condo development with 1,206 units, is strategically located at the junction of Marymount Road and Shunfu Road in District 20. Completed in 2022, the development offers a range of unit types, from one- to five-bedroom apartments spanning 527 sq ft to 2,099 sq ft. It also boasts two penthouses measuring 4,230 sq ft. Its convenient location, within walking distance of Marymount MRT Station on the Circle Line, adds to its appeal.
Across the island, The Imperial condo in District 9 recorded the second most profitable resale deal during the same week. The sale of a three-bedroom unit measuring 1,410 sq ft on Dec 5 for $3.7 million ($2,624 psf) saw the seller reap a gain of $2.4 million. The seller had acquired the unit directly from the developer for $1.3 million ($925 psf) in September 2004, making this transaction a handsome 184% profit after 20 years.
This particular sale ranks fifth on the list of most profitable deals at The Imperial. The top spot is claimed by a four-bedroom unit spanning 3,918 sq ft, which was sold for $7.64 million ($1,950 psf) in June 2007. The seller, who had bought the unit for $3.99 million ($1,018 psf) a year earlier in March 2006, made a profit of $3.65 million.
The Imperial, a 187-unit freehold condo that was completed in 2006, is situated on Jalan Rumbia, near Fort Canning Park. It offers a range of unit types, from two- to four-bedroom apartments measuring between 980 sq ft and 3,918 sq ft. Its location, within walking distance of Fort Canning MRT Station on the Downtown Line as well as Dhoby Ghaut MRT Interchange, adds to its value.
On the other hand, the sale of a one-bedroom unit at The Montana condo in District 10 made headlines for being the least profitable deal during the week in question. The 635 sq ft unit was sold for $1.02 million ($1,603 psf) on Dec 6, resulting in a loss of approximately $165,000. The unit was last purchased in July 2014 for $1.18 million ($1,863 psf).
This deal also ranks third on the list of biggest losses at The Montana, based on available caveats. The top spot belongs to a three-bedroom unit measuring 1,109 sq ft, which was sold for $1 million ($902 psf) in May 2003. The seller, who had acquired the unit from the developer in December 1999 for $1.35 million ($1,215 psf), suffered a loss of about $347,000.
Investing in a condominium in Singapore has emerged as a favored option for both local and foreign investors, thanks to the country’s strong economy, stable political climate, and excellent quality of life. The real estate market in Singapore presents a wealth of options, with condos standing out for their convenience, amenities, and potential for attractive returns. With the recent new condo launches, the allure of investing in a condo in Singapore has only increased. In this article, we will delve into the advantages, factors to consider, and necessary steps to take when considering a condo investment in Singapore.
The Montana, a freehold condo completed in 2002, offers 108 units spread across a single 12-storey tower. Its units include one- to four-bedroom apartments measuring between 549 sq ft and 2,659 sq ft. Located on Jalan Mutiara off River Valley Road, the condo is within walking distance of Fort Canning MRT Station and Dhoby Ghaut MRT Interchange.