Five years and one world-shaking epidemic later, the property market is like nothing we’ve ever seen. Realtors back then may have warned you prices would go up, but probably even they didn’t expect something this dramatic. For those who were lucky enough — or genius enough — to pick up a new launch condo five years ago, here are some of the top gains from those who have sold recently:We last wrote about Jadescape making a record $1.
1m in profits, but this has just been eclipsed by the latest resale transaction in December — a stunning $4.35m for a 6-bedroom penthouse. It was bought for $5.8 million in December 2019, and just sold for $10.15 million on Dec 9 this year. That's an annualised return of 15 per cent, for just holding on for five years (although it must be said, perhaps there was a high amount of renovation cost to begin with to persuade the owner to sell at such a high price). In any case, when we last ran the numbers in 2023, Jadescape was one of the top performing condos with a higher percentage gain over other similar new launches (you can read more here).Treasure at Tampines is currently the largest condo project in Singapore. Only completed in 2023, this leasehold project has an astounding 2,203 units. This is a redevelopment of a former HUDC Estate (Tampines Court), and it was known for its competitive pricing from the start — with most agents referring to this as a private condo but at EC prices. Prices began at just around $1,280 psf at launch. As we mentioned in our review of this condo, affordability was a key highlight: not only were the units priced low, but the maintenance fees benefitted from such a high unit count. A three-bedder at Treasure has maintenance fees of just $180 to $198 per month, whilst a five-bedder's maintenance costs between $240 to $264. For most condos, even mass-market ones, you would expect maintenance fees to be in the range of $300 to $400 per month. The lower initial quantum explains most of the gain
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