Investing in a condominium requires careful consideration of financing options. In Singapore, there are various mortgage choices available, but it is crucial to understand the Total Debt Servicing Ratio (TDSR) framework. This system imposes a cap on the amount of loan that a borrower can obtain, taking into account their income and current debt commitments. Becoming familiar with the TDSR and seeking guidance from financial experts or mortgage brokers can assist investors in making wise choices about their financing strategies and preventing excessive borrowing. For more information about financing options for investing in a Singapore Condo, visit https://www.novaortografia.com/.
The week of December 3 to 10 saw the most profitable condo resale transaction for the month at JadeScape, a 99-year leasehold condo located on Shunfu Road. The six-bedroom penthouse spanning 4,230 sq ft on the 23rd floor was sold for a whopping $10.15 million ($2,399 psf) on December 9. This unit was originally purchased from the developer in December 2019 for $5.8 million ($1,371 psf), resulting in a profit of $4.35 million for the seller after just five years. This translates to a capital gain of 75% or an annualised profit of 15%.
This transaction marks the biggest gain ever made on a unit at JadeScape, surpassing the previous record held by the sale of a five-bedroom unit measuring 2,099 sq ft on the 10th floor for $4.42 million ($2,108 psf) on August 12. The seller of this unit had purchased it from the developer for $3.28 million ($1,562 psf) in September 2019, earning a profit of $1.14 million.
JadeScape is situated at the junction of Marymount Road and Shunfu Road in District 20. It consists of seven residential towers and a total of 1,206 units, with sizes ranging from one- to five-bedrooms and 527 sq ft to 2,099 sq ft. There are also two penthouses measuring 4,230 sq ft each. The development is conveniently located within walking distance of Marymount MRT Station on the Circle Line.
Aside from this record-breaking transaction, there have been 72 other profitable resale deals at JadeScape this year, with prices ranging from $1,955 psf to $2,420 psf. This proves to be a lucrative investment for sellers, with gains ranging from $55,000 to $1.15 million.
The second most profitable transaction during this period was the sale of a three-bedroom unit spanning 1,410 sq ft at The Imperial for $3.7 million ($2,624 psf) on December 5. The seller had originally purchased the unit from the developer for $1.3 million ($925 psf) in September 2004, making a profit of $2.4 million (184%) after holding on to the property for 20 years. This deal is the fifth most profitable resale at The Imperial, with the record held by a four-bedroom unit measuring 3,918 sq ft that was sold for $7.64 million ($1,950 psf) in June 2007. The seller of this unit had purchased it for $3.99 million ($1,018 psf) in March 2006, earning a profit of $3.65 million.
The Imperial, located at Jalan Rumbia in District 9, comprises 187 freehold units spread across five blocks. Unit types include two-, three-, and four-bedrooms ranging from 980 sq ft to 3,918 sq ft. It is within walking distance of Fort Canning MRT Station on the Downtown Line and Dhoby Ghaut MRT Interchange, which serves the North-South, North-East, and Circle Lines.
On the other hand, the least profitable condo resale deal during this period was the sale of a one-bedroom unit at The Montana for $1.02 million ($1,603 psf) on December 6. The unit was previously sold in July 2014 for $1.18 million ($1,863 psf), resulting in a loss of approximately $165,000 for the seller. This is the third-biggest loss ever made on a unit at The Montana, with the record held by the sale of a three-bedroom unit measuring 1,109 sq ft for $1 million ($902 psf) in May 2003. The seller had purchased this unit from the developer in December 1999 for $1.35 million ($1,215 psf), incurring a loss of approximately $347,000.
The Montana, a freehold condo located on Jalan Mutiara in District 10, was completed in 2002 and consists of 108 units in a single 12-storey tower. Unit types include one- to four-bedrooms ranging from 549 sq ft to 2,659 sq ft. This development is situated close to Fort Canning Park and is within walking distance of Fort Canning MRT Station on the Downtown Line and Dhoby Ghaut MRT Interchange.
In conclusion, the week of December 3 to 10 saw the most profitable condo resale transaction at JadeScape, with other profitable deals also being made at The Imperial and The Montana. This is a testament to the continuous growth of the property market and the great investment potential of these developments.