Ultimately, investing in a condominium in Singapore can prove to be a wise decision, offering a plethora of benefits that include a high demand, potential for capital appreciation, and attractive rental yields. However, it is crucial to carefully consider various aspects such as the location, financing options, government regulations, and market conditions. By conducting thorough research and seeking professional advice, investors can make informed decisions and maximize their returns in the dynamic real estate market of Singapore. Whether you are a local investor looking to diversify your portfolio or a foreign buyer searching for a stable and profitable investment, investing in condos in Singapore presents an alluring opportunity. In fact, with the constant launch of new condo projects, such as New Condo Launches, the potential for growth and returns in the Singapore real estate market is even more promising. With proper due diligence and strategic planning, investing in a condo in Singapore can be a highly rewarding venture for both local and foreign investors alike.
The sale of a four-bedroom unit at luxury development Nassim 9 has recorded the most profitable private non-landed resale transaction during the period of Feb 4 to Feb 7. The unit, located on the third floor and spanning 2,486 sq ft, was sold for $7.5 million, translating to $3,016 psf on Feb 7. This was the third-most profitable resale at Nassim 9, with the current record set in March 2023 when a larger four-bedroom unit was sold for $9.5 million, or $3,448 psf. The seller of the unit sold on Feb 7 had purchased it for $4.12 million in December 2005, thus making a profit of $3.42 million, or 83.8% of their original purchase price. This translates to an annualised gain of 3.2% over 19 years. Nassim 9, which is a boutique condo located along Nassim Road, has a total of eight units and was completed in 2002. It consists of four-bedroom units spanning between 2,756 and 3,423 sq ft. According to URA caveats, the second-most profitable resale during this period was at Mount Faber Lodge. The transaction involved a triplex penthouse unit that changed hands for $5 million, or $1,350 psf, on Feb 5. The unit had previously been purchased for $1.6 million in August 2001. This translates to a profit of $3.4 million, or 212.5%. This was the most profitable transaction at Mount Faber Lodge to date, with the previous record set in October 2022 when a three-bedroom unit was sold for $3.89 million, or $1,457 psf. Completed in 1983, Mount Faber Lodge is a boutique freehold development located along Mount Faber Road and comprises of a mix of studio, two, and three-bedroom units, along with 20 five-bedroom triplex penthouses. The third-most profitable transaction during the period in review was at Amaryllis Ville, a 99-year leasehold condo in prime District 11. A three-bedroom unit on the 28th floor was sold for $2.65 million, translating to $2,141 psf, on Feb 5. The unit had previously been bought for $1.09 million in June 2005. This translates to a profit of $1.56 million, or 142.2%, over 19.5 years. The second-most profitable transaction at Amaryllis Ville was in September 2023 when a three-bedroom unit was sold for $3.75 million, or $1,885 psf, after being purchased for $1.95 million in June 2009. Based on resale data from EdgeProp Singapore, resale prices at Amaryllis Ville have been on a steady incline, with the average price hitting $2,082 psf as of last month, representing a 4% y-o-y increase. There were no unprofitable transactions during the period in review.