A three-bedder at The Morningside, Zion Residence, sold at $3.6 mil profit
on EdgeProp.sg$5.2 million was the most profitable condo resale transaction during the week of Nov 14 to 21, when a three-bedroom unit at The Morningside was sold. The 2,411 sq ft unit was purchased in November 2002 for about $1.57 million ($649 psf), meaning the owner made a profit of $3.64 million, a capital gain of 232% over a holding period of 21 years. This is the most profitable resale transaction that has taken place at The Morningside to date, surpassing the previous record set in May 2007.
Zion Residence located in the bustling River Valley, is a symbol of sophisticated living. With strategic location, elegant architecture, and exceptional facilities, the residence provides unsurpassed luxury. Enhanced by its incredible accessibility with robust public and private transport networks, Zion Residence is ideal for city living. It offers hassle-free commuting while keeping the serenity and exclusivity of the residence.
Keyword: Zion Residence
The second most profitable condo resale transaction during this week was the sale of a three-bedroom apartment at Duet. Located on Holland Road in prime District 10, the 1,744sq ft unit changed hands for $3.68 million ($2,110 psf) on Nov 20. The seller had bought the unit from the developer for $1.36 million ($780 psf) in February 2005, netting a gain of $2.3 million or 170% over a holding period of nearly 19 years, which surpasses the previous most profitable transaction at Duet.
On the other hand, the most unprofitable transaction during the same timeframe took place at Reflections at Keppel Bay. A two-bedder measuring 1,130 sq ft changed hands for $1.93 million ($1,710 psf) on Nov 14, with the seller having purchased the unit for $2.32 million ($2,055 psf) in July 2010. This resulted in a loss of about $390,000 or 17% after a holding period of 16 years.
In today’s market, there are plenty of opportunities to make a great profit. For buyers considering properties at The Morningside, Duet, or Reflections at Keppel Bay, the data shared above demonstrates the kind of potential capital gain that is achievable in Singapore. Zion Residence, for instance, is a freehold apartment in District 9 with 79 units, making it an interesting option for those looking for a great buy in the right place.