Three-bedroom home at Country Grandeur sold for $1.8 million profit

Read this too: $47.5 million for a Hong Kong Street shophouse

The purchase of a three-bedroom apartment in Country Grandeur was the most profitable condo resales in the week of September 5-12 according to caveats filed with URA. The 1,442 square foot unit located on the third floor sold at $2.72 million ($1,886 per square foot) on the 6th of Sept. The unit was purchased through the sale of developer developer on May 15, 1995, for $920,000 ($638 per square foot) that is, they earned an income in the amount of $1.8 million. This amounts to the capital gain of the sum of 196% in a time that was more than 28 years.

It is probably the best resale sale that has occurred in Country Grandeur to this point. It is higher than the previous record, set on October 28 2022. A 1,442 sq ft apartment sold for $2.6 million ($1,803 per sq ft). The seller purchased the property for $880,000 ($610 per sq ft) in January of 1996. That is a gain that was $1.72 million.

Country Grandeur is a freehold development located on Lorong Puntong, off Sin Ming Avenue in the Bishan district of District 20. The development was finished in the year 1996 and houses 68 residents, which is just three bedders with 1,442 square feet each. Country Grandeur has a relatively lower resale volume and the one that was sold on September 6 as the first unit to be sold following the sale on October 28 the previous year. This latest sale also sets a new PSF-price highest for the area.

The second highest-profitable condo resale sale during the week-in-review included the purchase of three bedrooms condo in The Regency at Tiong Bahru. The 1,281 square feet apartment on the 22nd floor sold at $3.088 million ($2,411 per square foot) on September 7. The seller purchased the unit at $1.4 million ($1,093 per square foot) at the end of August in 2009. This resulted in a profit of $1.688 million, or 121% during a time of around 14 years. It is the second most profitable resale transaction by The Regency at Tiong Bahru in accordance with caveats filed. The most profitable sale took place on the 21st of March the 21st, when the 1,281 square feet unit was sold at $2.85 million ($2,225 per sq ft). The seller purchased this unit back in the month of December for $958,00 ($748 per sq ft) that means they earned $1.89 million.

The Regency in Tiong Bahru is a freehold condo owned by UOL Group at Chay Yan Street in District 3. It is situated at the center of the Tiong Bahru estate, adjacent to the numerous cafes and shops which run along Yong Siak Street, Chay Yan Street and Moh Guan Terrace. It was built in the year 2010 and includes two- to four-bedroom units ranging from 926 sq ft to 1,636 sq feet and is housed in two 35-storey towers.

Alongside the properties that were sold on September 7 between March 21 and Sept 7, the project has seen five more resales transactions this year. All of them were profitable for the sellers. The units, which range between 958 and 1,636 square feet, were sold for $2.18 million to $3.647 million or between $2,188 to $2,276 per square foot. The owners of the apartments realized gains of varying between $748,000 and $1.617 million.

However there was just one transaction that was not profitable during the week of the review. It was recorded in Urban Vista. One bedder of 549 square feet was sold for $810,000 ($1,476 per sq ft) on September 7. The buyer purchased the seller for around $819,600 ($1,493 per square foot) at the end of March. This means they lost around $9,500 or one% after keeping the unit for about 10 half years.

Urban Vista is a 99-year leasehold condominium located situated on Tanah Merah Kechil Link, only a few steps to Tanah Merah Kechil Link, which is the Tanah Merah LRT Station on the East-West Line. It was completed in the year 2016 through Fragrance Group and Aspial Corp The District 16 development includes 582 units that range from one-to-five-bedders that range in size between 431 to 1,862 square feet.

Information gathered from EdgeProp Research shows there have four other resales in Urban Vista this year that were below the purchase price, due to caveats filed. The 27th of June, the owner of an 893 square foot unit made an estimated loss of $121,000 after it was sold at $1.235 million ($1,382 per square foot). Prior to that, a 1,485 sq square feet unit was sold on March 27, at an expense of less than $139,000. On March 17 two units weighing 1,324 and 1,044 square feet were sold at a loss of $200,000 and $5,000, respectively.