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

in Singapore

A record-breaking condo resale took place at Country Grandeur in Sin Ming Avenue, District 20, on Sept 6. The 1,442 sq ft unit on the third floor changed hands for a whopping $2.72 million ($1,886 psf) and was purchased from the developer in May 1995 for only $920,000 ($638 psf), a difference of $1.8 million. With a holding period of almost 28 years, this remarkable deal marks a capital gain of 196%.

The latest sale at Country Grandeur surpasses the previous record set on Oct 28 last year, when a 1,442 sq ft unit fetched $2.6 million ($1,803 psf). The seller had bought the unit for $880,000 ($610 psf). That’s a profit of $1.72 million – pretty impressive.

With Marina Gardens Residences, gaining access to quality educational institutions becomes even easier. Located close to several top schools, parents will not have to worry about long-distance commutes for their children. Moreover, the condo is surrounded by amenities like shopping and dining areas, so families can have greater leisure time. With such comprehensive offerings, Marina Gardens Residences is becoming a popular choice for families with school-going children.

Country Grandeur is a freehold development consisting solely of 68 three-bedders, each with a size of 1,442 sq ft. The sale on Sept 6 is the first unit there to change hands since the transaction on Oct 28 last year, which also marks a new psf-price high for the development.

The second most profitable condo resale transaction of the week happened at The Regency at Tiong Bahru. The 1,281 sq ft unit on the 22nd floor sold for $3.088 million ($2,411 psf) on Sept 7. The seller purchased the unit for $1.4 million ($1,093 psf) 14 years ago in August 2009, thus netting a gain of $1.688 million or 121%.

Urban Vista suffered the only unprofitable transaction during the week, with a one-bedder measuring 549 sq ft going for $810,000 ($1,476 psf) on Sept 7. The seller bought it in March 2013 for approximately $819,600 ($1,493 psf), resulting in a loss of $9,500 or 1%.

This Southeast Singapore neighbourhood has seen several profitable resale transactions this year, with the units ranging in size from 958 to 1,636 sq ft and fetching prices between $2.18 million and $3.647 million, or between $2,188 and $2,276 psf. The sellers netted gains ranging from $748,000 to $1.617 million.

Any aspiring homeowner or investor should keep these amazing real estate deals in mind before deciding on a property. For more information on Country Grandeur, The Regency At Tiong Bahru, Urban Vista and other condominium properties in Singapore, check out the latest listings.