Resale Three-Bedder at UE Square
A notable transaction in the real estate market occurred with the resale of a three-bedroom unit at UE Square, which recently sold for $3.46 million. This sale generated a substantial profit of $2.13 million for the seller, representing an impressive 160.2% gain from the original purchase price. The unit, measuring 1,561 square feet and situated on the 12th floor, was acquired in July 1999 for $1.33 million, translating to a price of $852 per square foot.
The sale of this property not only highlights the lucrative nature of real estate investments in Singapore but also reflects the ongoing demand for prime properties within the region. UE Square, located in the esteemed District 9, has consistently attracted buyers due to its strategic location and high-quality amenities. The recent transaction is particularly significant as it marks the third most profitable deal recorded at this prestigious development, underscoring the potential for considerable returns on property investments in the area.
Over the almost 26 years since its original purchase, the annualized gain for this property has been approximately 3.8%. This steady appreciation rate signifies the value retention and growth potential of properties in District 9, a locale known for its vibrant lifestyle and proximity to commercial hubs. Such long-term gains are often appealing to investors looking for stability in their portfolios.
As the real estate market continues to evolve, the performance of UE Square serves as a benchmark for other developments within the vicinity. The average resale price at UE Square currently stands at $2,084 per square foot, reflecting a robust market performance. This figure illustrates the ongoing demand for real estate in the area, as prospective buyers recognize the long-term value associated with properties in such a desirable location.
The substantial resale price achieved by the three-bedroom unit further emphasizes the strength of the market, particularly in a region where property values have shown resilience despite economic fluctuations. This transaction also highlights the importance of timing and market conditions in real estate investments. Sellers who enter the market during favorable conditions can capitalize on significant profits, as evidenced by this particular resale.
The 160.2% gain achieved by the seller is a testament to the appreciation of property values over time, driven by factors such as urban development, infrastructure improvements, and the overall attractiveness of the area.
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News Source: Edgeprop
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