The most profitable condo resale transaction of the week of November 12 to 19 was recorded at Maple Woods, where a three-bedroom unit on the first floor was sold for a whopping $3.3 million ($2,144 per sq ft) on November 15. This freehold condo, located in prime District 10 along Bukit Timah Road, boasts 697 units ranging from two to four bedrooms and sizes between 850 sq ft to 3,003 sq ft. The 1,539 sq ft unit that was sold is a five-minute walk from King Albert Park MRT Station and is also close to Methodist Girls’ School and the Rail Corridor.The seller, who bought the unit in April 2009 for $1.28 million ($830 psf), made a substantial profit of $2.02 million. This translates to a massive capital gain of 158%, or a profitable annualised return of 10.6% over a holding period of about 15.5 years.Apart from this, Maple Woods has seen 10 other successful resale transactions this year. All of these deals have resulted in profitable returns for the sellers, with a minimum profit of $425,000. Three of the units that were sold netted gains of over $2 million. For instance, a three-bedroom unit on the eighth floor with a floor area of 1,787 sq ft was sold for $3.75 million ($2,099 psf) on July 1997, earning the seller a profit of $2.15 million. The same unit was purchased in July 1997 for $1.6 million ($895 psf), resulting in a profit of $2.15 million. In another transaction that took place on March 2007, a similar 1,787 sq ft three-bedroom unit was sold for $3.82 million ($2,138 psf), earning the seller a profit of $2.47 million. Similarly, a 3,003 sq ft four-bedroom unit on the eighth floor was sold at $5 million ($1,665 psf) on the same day, netting the seller a handsome gain of $2.6 million. This unit was bought in September 1998 for $2.4 million ($798 psf).Another prime location where profitable resale transactions took place was at UE Square. A 1,528 sq ft unit on the seventh floor with three bedrooms fetched a whopping price of $2.95 million ($1,930 psf) on November 14. The seller had previously gotten the unit through a sub-sale in December 1997 for $1.3 million ($850 psf). This resulted in the seller gaining a hefty profit of $1.65 million, or an astounding return of 127%, after owning the property for nearly 27 years. This transaction stands as the fourth most profitable resale deal that has been registered at UE Square so far. The record for the most profitable resale transaction had been set by a four-bedroom penthouse with a floor area of 3,089 sq ft, which sold for a massive price of $6.27 million ($2,031 psf) way back in Oct 2023. The seller had acquired the unit during December 2009 for $4.1 million ($1,327 psf), which resulted in an impressive profit of $2.17 million.UE Square is a part of UE BizHub City, a mixed-use development along Clemenceau Avenue in District 9, close to Clarke Quay. It comprises an 18-storey office building with a four-storey shopping arcade, along with two 18-storey residential buildings that hold a total of 345 units. The mixed-use development is divided by a service road, with the commercial tower and two residential towers on either side. UE Square comprises 345 units that house one to five bedrooms, which range from 506 sq ft to 2,379 sq ft. Additionally, there are also penthouses that cover 3,089 sq ft. The development is conveniently situated close to the Fort Canning MRT Station on the Downtown Line.However, the most unprofitable condo resale transaction that took place during the week under review was the sale of a three-bedroom unit at Tomlinson Heights. The 2,745 sq ft unit on the 19th floor was sold for $8.25 million ($3,006 psf) on November 19. The seller had bought the unit from the developer in February 2011 for $8.85 million ($3,225 psf). As a result, the seller ended up incurring a loss of $601,000 (6.8%) after owning the unit for almost 14 years. Located in a prime location on Orchard Boulevard, this luxurious condo comprises a 36-storey tower with a mix of three to five-bedroom units ranging from 2,551 sq ft to 6,738 sq ft. Developed in 2014, the freehold condo is within walking distance of prime shopping malls along the famous Orchard Road in District 9.This week, the real estate market saw a profitable transaction at Maple Woods, where a three-bedroom unit was sold for an incredible price of $3.3 million. This development has seen a total of 10 other profitable resale transactions this year. Additionally, UE Square also saw a lot of profitable resale transactions during the week under review. The most unprofitable resale transaction took place at Tomlinson Heights, where the seller ended up incurring a loss of $601,000.
The demand for condos in Singapore remains incredibly high, largely due to the limited land availability in the country. As a small but thriving island nation with a rapidly expanding population, Singapore is facing a shortage of land for development. This has resulted in strict land use regulations and a fiercely competitive real estate market, where property prices continue to soar. As a result, purchasing real estate, specifically condos, has become a lucrative investment opportunity, with the potential for significant capital appreciation. Singapore Projects have also become popular choices for investors in search of promising ventures in the real estate market.