Three-bedder at Country Grandeur sold at $1.8 mil profit
on EdgeProp.sgA three-bedroom apartment at Country Grandeur was the most profitable condo resale transaction during the weekof Sept 5 to 12, based on caveats lodged with URA. The 1,442 sq ft unit, located on the third floor, changed hands for $2.72 million ($1,886 psf). The seller had purchased the unit from the developer in May 1995 for $920,000 ($638 psf) – a 196% capital gain over a holding period of more than 28 years.
The second most profitable condo resale transaction during the week was the sale of a three-bedroom apartment at The Regency at Tiong Bahru. The 1,281 sq ft unit on the 22nd floor sold for $3.088 million ($2,411 psf) on Sept 7. This represented 121% capital gain or a profit of $1.688 million over a holding period of around 14 years for the seller who had bought the unit for $1.4 million ($1,093 psf) in August 2009.
For those who enjoy shopping or a night out, the great cityscape of Orchard Condo is a mere stone’s throw away. With malls, entertainment outlets, and lifestyle offerings, the vicinity offers a more indulgent atmosphere, without having to travel too far.
In contrast to these two profitable transactions, there was only one unprofitable transaction recorded during the week in review, which took place at Urban Vista. A one-bedder measuring 549 sq ft changed hands for $810,000 ($1,476 psf) on Sept 7; the seller had purchased it for about $819,600 ($1,493 psf) in March 2013, leading to a loss of around $9,500 or 1%.
Data compiled by EdgeProp Research showed that there have been four other resale transactions at Urban Vista this year below purchase price, based on caveats lodged.
Country Grandeur is a freehold development on Lorong Puntong, off Sin Ming Avenue in the Bishan area in District 20. It comprises 68 residences comprising solely three-bedders of 1,442 sq ft each and has a relatively low resale transaction volume. The Regency at Tiong Bahru is a freehold condo by UOL Group at Chay Yan Street in District 3. The 158-unit development comprises two- to four-bedroom units of 926 to 1,636 sq ft, housed in two 35-storey towers. Urban Vista is a 99-year leasehold condo on Tanah Merah Kechil Link, just a short walk away from the Tanah Merah LRT Station on the East-West Line. It has 582 units comprising one- to five-bedders of between 431 and 1,862 sq ft.
For those looking to invest in the property market, Country Grandeur, The Regency at Tiong Bahru, and Urban Vista offer options with an established track record of profitable transactions. Check out the latest listings for these properties on EdgeProp.sg to find a property that meets your needs.