With a whopping profit of $4.35 million, the sale of a six-bedroom penthouse unit at JadeScape has been hailed as the most profitable condo resale transaction for the week of Dec 3 to Dec 10. The 4,230 sq ft unit on the 23rd floor was sold for a staggering price of $10.15 million, which works out to be $2,399 per square foot. Interestingly, this sale has set a new benchmark for the highest capital gain at JadeScape, surpassing all previous records held by the development.With 1,206 units spread across seven residential towers, JadeScape is a 99-year leasehold condominium located at the junction of Marymount Road and Shunfu Road in District 20. The development, which was completed in 2022, boasts of an impressive range of unit types, comprising one- to five-bedroom apartments, as well as two penthouses measuring 4,230 sq ft. In addition, residents can expect to enjoy a range of facilities, including a swimming pool, gym, and outdoor dining areas. One key selling point of JadeScape is its convenient location, just a stone’s throw away from Marymount MRT Station on the Circle Line.Read also: Is it a Good Deal?: A duplex penthouse in Sentosa sold for a loss of $1.93 million AdvertisementJadeScape has seen a total of 72 resale transactions this year, with prices ranging from $1,955 to $2,420 per square foot. In a surprising turn, all of these deals have brought about profits for the sellers, with gains ranging from $55,000 to a whopping $1.15 million. This makes the sale of the 4,230 sq ft unit on the 23rd floor, with its impressive capital gain of 75%, the most profitable resale transaction at JadeScape thus far. In fact, this translates to an annualised profit of 15% for the seller, which is a testament to the potential for lucrative returns that this development has to offer.The second most profitable resale transaction for the week was the sale of a three-bedroom unit at The Imperial for $3.7 million, fetching a price of $2,624 per square foot. Located on Jalan Rumbia in District 9, The Imperial was completed in 2006 and comprises 187 freehold units spread across five blocks. With an impressive range of units available, buyers can choose from a range of two-, three- and four-bedroom apartments, with sizes ranging from 980 to 3,918 sq ft. Despite being constructed more than 15 years ago, The Imperial remains a popular choice for potential buyers. Notably, the most profitable resale transaction at The Imperial was the sale of a four-bedroom unit measuring 3,918 sq ft for $7.64 million (or $1,950 psf). The seller had originally acquired the unit for $3.99 million in March 2006, which translates to a whopping capital gain of $3.65 million.The least profitable resale deal for the week was the sale of a 635 sq ft unit at The Montana for $1.02 million, or $1,603 per square foot. Despite being a relatively small loss, it is the third largest loss incurred on a unit at this development. Located along Jalan Mutiara, off River Valley Road in District 10, The Montana is a freehold condo boasting 108 units spread across a single 12-storey block. With unit sizes ranging from one- to four-bedroom layouts, buyers can expect sizes ranging from 549 to 2,659 sq ft. While The Montana remains a popular choice for potential buyers, with four other profitable resale transactions being recorded this year, this sale stands out as the first recorded loss for the development in 2021.
Investing in a Singapore Condo offers numerous advantages, one of which is the potential for significant capital appreciation. Singapore’s advantageous position as a global business hub, combined with its thriving economy, continuously drives demand for real estate. This has resulted in a consistent increase in property prices in the country, with condos in prime areas experiencing particularly high levels of appreciation. Savvy investors who enter the market at the right time and hold onto their properties for the long term can reap substantial capital gains.