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When it comes to investing in real estate, purchasing a condo in Singapore can be a wise choice. This is due to the many benefits it offers, including a high demand in the market, potential for capital appreciation, and attractive rental yields. However, it is crucial to carefully consider various factors such as location, financing options, government regulations, and market conditions before making a decision. By conducting thorough research and seeking professional advice, investors can make informed decisions and maximize their returns in Singapore’s dynamic real estate market. Whether you are a local investor looking to diversify your portfolio or a foreign buyer in search of a stable and profitable investment, condos in Singapore, available on platforms such as Singapore Condo, present a compelling opportunity worth considering.
Sept. 3 to Sept. 10 saw the most profitable condo resale transaction at Botanic Gardens View, with a three-bedroom unit on the sixth floor selling for $4.13 million ($2,353 psf) on Sept 9. The seller, who originally purchased the unit for roughly $862,000 ($491 psf) in July 1998, made a notable profit of $3.27 million. This translates to a capital gain of 379%, considering that the seller owned the unit for about 26 years.This sale breaks the record for the most profitable resale deal ever recorded at Botanic Gardens View, surpassing the previous top gain of $3.14 million from the sale of a 1,615 sq ft unit in August 2019 for $4.07 million ($2,521 psf). The seller of this unit had bought it in September 2001 for approximately $930,000 ($576 psf).Botanic Gardens View is a freehold condo located at Taman Serasi, off Cluny Road in prime District 10. This development, built in 1970, has 144 units spread across four blocks. The units consist of two- and three-bedrooms, ranging from 1,259 sq ft to 1,755 sq ft. Its prime location, directly opposite the Singapore Botanic Gardens, adds to its appeal.Two additional transactions also made the list of most profitable resale deals for the week. The first was the sale of a 2,250 sq ft, three-bedroom unit at Regency Park for $5.13 million ($2,278 psf) on Sept 5. The seller had initially purchased the unit in July 2002 for $1.89 million ($839 psf), making a profit of $3.24 million (172%) after owning it for slightly over 22 years.This deal was closely followed by the sale of a 3,649 sq ft unit at the same condo on Aug 14, which fetched $7.84 million ($2,149 psf). The seller, who bought the unit in February 2001 for $2.95 million ($808 psf), earned a profit of $4.89 million. This translates to a capital gain of 166% for the seller, who had owned the unit for approximately 23 and a half years.Regency Park is a freehold condo situated along Nathan Road, off Grange Road and River Valley Road in prime District 10. Completed in 1987, this development has eight 25-storey residential blocks, comprising 292 units. These units include three-bedroom units ranging from 2,250 sq ft to four-bedroom units from 3,649 sq ft. It is located near the Bishopsgate-Chatsworth Good Class Bungalow enclave, and is less than a five-minute drive to the Great World City shopping mall on Kim Seng Promenade and the Orchard Road shopping belt.On the other hand, the most unprofitable condo resale deal for the week was at The Scotts Tower. A one-bedroom unit measuring 667 sq ft on the seventh floor was sold for $1.3 million ($1,948 psf) on Sept 3. The seller had bought the unit in December 2011 from the developer for $2.22 million ($3,321 psf), resulting in a loss of around $916,400 (41%) after owning the unit for almost 13 years.Located along Scotts Road in District 9, The Scotts Tower is a 231-unit condo that was completed in 2016. This 103-year leasehold development comprises of a single tower spanning 31 storeys with a range of one- to three-bedroom apartments between 624 sq ft to 904 sq ft, and four-bedroom penthouses that span from 1,227 sq ft to 1,389 sq ft. Notably, the most expensive transaction recorded at this condo was for another one-bedroom unit on April 24, which changed hands for $1.3 million ($1,980 psf). The seller had also bought the unit from the developer in January 2013 for $2.69 million ($4,092 psf), resulting in a loss of $1.39 million.