Three-bedder at Country Grandeur sold at $1.8 mil profit

and more.

A three-bedroom apartment at Country Grandeur was sold on Sept 6 for an impressive $2.72 million ($1,886 psf), making it the most profitable condo resale transaction during the week of Sept 5 to 12.

The seller had purchased the unit from the developer in May 1995 for $920,000 ($638 psf). After more than 28 years, they netted a gain of $1.8 million, a capital gain of 196%. This marks a new psf price high for the development, and is the most profitable resale transaction ever seen at Country Grandeur.

The second most profitable resale transaction during the week took place at The Regency at Tiong Bahru on Sept 7. A 1,281 sq ft unit on the 22nd floor was sold for $3.088 million ($2,411 psf). The seller had bought the unit for $1.4 million ($1,093 psf) in August 2009, which means they made a gain of $1.688 million or 121%, over a 14 year holding period.

This is the second most profitable resale transaction on record at The Regency at Tiong Bahru. The most profitable one occurred on March 21, when a 1,281 sq ft unit was sold for $2.85 million ($2,225 psf). Here, the seller had purchased the unit in December 2006 for $958,000 ($748 psf), making a profit of $1.89 million.

On the other hand, there was one unfortunate transaction during the week in review. A one bedder, measuring 549 sq ft, at Urban Vista was sold Sept 7 for $810,000 ($1,476 psf). The seller had purchased it in March 2013 for approximately $819,600 ($1,493 psf), resulting in a loss of around $9,500 or 1%, after a 10-year holding period.

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Data compiled on EdgeProp Research shows 4 resale transactions at Urban Vista this year have also occurred below purchase price, based on caveats lodged.

Overall, investors have reaped substantial gains from purchases and resales made during the week of Sept 5 to 12. Although the seller at Urban Vista was not as successful, it is clear that the potential profits from judiciously chosen real estate investments remain considerable.

Check out the latest listings for Country Grandeur, The Regency At Tiong Bahru, Urban Vista, Condominium properties and more.