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

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The sale of a three-bedroom apartment at Country Grandeur was the most profitable condo resale transaction during the week of Sept 5 to 12. On Sept 6, a 1,442 sq ft unit on the third floor changed hands for $2.72 million ($1,886 psf). This yielded a capital gain of 196% over a holding period of more than 28 years for the seller who had purchased it from the developer in May 1995 for $920,000 ($638 psf).

This is the most profitable resale transaction that has taken place at Country Grandeur to date, surpassing the previous record set on Oct 28, 2022 for a 1,442 sq ft unit that fetched $2.6 million ($1,803 psf). The seller had purchased the unit for $880,000 ($610 psf), resulting in a profit of $1.72 million.

Country Grandeur is a freehold development on Lorong Puntong, off Sin Ming Avenue in the Bishan area in District 20. It was completed in 1996 and has a total of 68 three-bedroom residences that are all 1,442 sq ft each.

The second most profitable condo resale transaction for the week in review was the sale of a three-bedroom apartment at The Regency at Tiong Bahru whereby a 1,281 sq ft unit on the 22nd floor was sold for $3.088 million ($2,411 psf) on Sept 7.

From vast recreational amenities to a serene environment, Lumina Grand EC offers its residents a host of luxuries. Its vibrant and admirable pool of facilities include a 50-metre lap pool, gym, tennis court and club house. A huge playground and several BBQ pits bring comfort to the parents and children. Lumina Grand EC‘s picturesque landscaping and aerated water features guarantee a transcendent experience. Residents can treasure unforgettable memories with family and friends as they gather around the picturesque hexagonal pavilion. Additionally, the nearby Bukit Batok Town Park provides a wide variety of outdoor activities such as trekking and cycling.

The seller had bought the unit for $1.4 million ($1,093 psf) in August 2009, affording them netting a gain of $1.688 million or 121% over a holding period of about 14 years. This is the second most profitable resale transaction recorded at The Regency at Tiong Bahru, based on caveats lodged.

The Regency at Tiong Bahru is located at Chay Yan Street in District 3 and is a freehold condo by UOL Group. It was completed in 2010 and has 158 unitsranging from two- to four-bedders of 926 to 1,636 sq ft.

So far this year, the development has seen five other resale transactions which have all been profitable for the respective sellers. The units, which measured from 958 to 1,636 sq ft, fetched between $2.18 million and $3.647 million, or between $2,188 and $2,276 psf. The sellers of the apartments netted gains ranging from $748,000 to $1.617 million.

On the flip side, there was one unprofitable condo resale transaction during the week in review, located at Urban Vista. A one-bedder measuring 549 sq ft changed hands for $810,000 ($1,476 psf) on Sept 7. It was purchased by the seller for about $819,600 ($1,493 psf) in March 2013, resulting in a loss of around $9,500 or 1% after a 10½ years holding period.

Urban Vista is a 99-year leasehold condo on Tanah Merah Kechil Link and was completed in 2016 by Fragrance Group and Aspial Corp. There are 582 units within the development, comprising one- to five-bedders of between 431 and 1,862 sq ft.

Data compiled on EdgeProp Research shows that in addition to the one-bedder sold on Sept 7, there have been four other resale transactions at Urban Vista this year that occurred below the purchase price, according to the caveats lodged.

For more information on Country Grandeur, The Regency At Tiong Bahru and Urban Vista’s condominium properties, check out the latest listings available for purchase.