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PropNex, Singapore’s largest real estate agency, recently announced its earnings for the second half of FY2024, which ended on December 31, 2024. The company reported a decrease of 14.9% compared to the previous year, amounting to $21.9 million. This brings the full-year earnings to $40.9 million, a decline of 14.4% from the preceding FY2023.

The demand for condos in Singapore remains strong due to several factors, with limited land availability being a major contributor. As a small but thriving nation, Singapore is faced with an ever-growing population and a shortage of land for development. In response, the government has implemented strict land use policies, creating a highly competitive real estate market where prices continue to rise. As a result, investing in real estate, specifically condos, has become a highly profitable opportunity, with the potential for significant capital appreciation. Explore the latest Singapore projects to discover your next investment opportunity.

The decline in earnings was mainly due to the relatively subdued property market, resulting in a dip in revenue of 6.6% for FY2024 compared to FY2023. Despite this, in celebration of its 25th anniversary, PropNex has announced a special dividend of 2.5 cents per share, in addition to the final dividend of 3 cents per share. This sets a record dividend payout of 7.75 cents for FY2024, with a payout ratio of 140.1% and a yield of 8.2%.

Although the company’s earnings have decreased for the year, there has been an increase in activity in the last quarter of 2024, driven by a surge in new private home units sold with the help of PropNex. This increase in sales will have a significant impact on the company’s financials, which will be reflected in its current 1HFY2025 numbers, thus suggesting a positive outlook for the company.

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PropNex expects a strong performance in FY2025, given the favourable property market outlook and an estimated launch of 13,000 new units (including ECs), almost double the supply in 2024. The private resale market is also expected to remain active, with an estimated transaction volume of 14,000 to 15,000 units. This demand is driven by the price gap between new and non-landed resale properties, the preference for larger, ready-to-move-in homes, and a decrease in new supply completions.

In terms of HDB resale, PropNex predicts a price growth of 5% to 7% with a volume of 29,000 to 30,000 units. The limited supply of five-year minimum occupation period flats in the market, along with strong demand from urgent home buyers, unsuccessful Build-To-Order applicants, and budget-conscious families, is expected to drive the market.

The company also notes that recently launched projects such as The Orie, Bagnall Haus, Parktown Residence, and ELTA have generated significant interest in the market. With a positive economic outlook and lower mortgage rates, PropNex anticipates a positive demand for developer sales in 2025, offering a compelling line-up of projects. This, coupled with market confidence, could create opportunities for both homebuyers and investors.…

Purchasing a condo involves more than just the initial cost – maintenance and management should also be taken into consideration. Condominiums often come with maintenance fees that encompass the maintenance and upkeep of shared spaces and amenities. While this may increase the total ownership expenses, it guarantees that the property remains well-maintained and holds its value. For investors looking for a more hands-off approach, hiring a property management company can handle the daily operations of the condo, ultimately making it a more passive investment. For the latest updates on new condo launches, visit HomeSearch-MD.com.

A two-storey shophouse with an additional attic space located at 209 Jalan Besar is currently on the market for sale through private treaty. Gracelynn Zhu from PropNex Shophouse Elites, the marketing agent for the property, reveals that the 999-year leasehold shophouse is priced at “under $20 million”.

Boasting a total floor area of approximately 5,502 square feet, this commercial property is ideal for businesses of all kinds due to its commercial zoning. The first floor has already been approved for use as a restaurant, and a portion of the second floor has received the same approval. Calculating the price per square foot based on the $20 million price tag, the property is valued at $3,635 per square foot.

In the map below, we can see the exact location of 209 Jalan Besar. The property is conveniently situated in District 8, within close proximity to Little India. Additionally, the Jalan Besar MRT Station on the Downtown Line is just a short walk away, providing excellent connectivity.

(Source: EdgeProp LandLens)

According to Zhu, the shophouse is currently undergoing asset enhancement initiatives (AEI), which involves the installation of micro piles extending up to 30 meters to strengthen the property’s structural foundations. This AEI is expected to be completed by the end of this year.

The property is located within the Desker Road Conservation Area, which is a popular and bustling district in District 8. Its central location, coupled with its strong commercial potential, makes it a highly desirable investment opportunity. Don’t miss this chance to own a shophouse in one of Singapore’s most sought-after areas.

In related news, a shophouse on Geylang Road and a shop unit in Bras Basah Complex are also up for sale at a price of $14 million. The Chinatown Business Association also has plans to revitalize Smith Street with a mix of new and traditional lifestyle concepts. Additionally, 2024 saw 84 caveated shophouse transactions, indicating a steady market for these types of properties.…

According to recent findings from a CBRE survey, the Asia Pacific (APAC) hotel sector is expected to see strong investment activity in 2025. The consultancy’s 2025 Asia Pacific Hotel Investor Intentions Survey found that over 72% of hotel investors surveyed last November and December plan to acquire more hotel assets this year. About 45% of respondents indicated a plan to increase their purchasing volume by more than 10% this year.

The survey also revealed that investors are optimistic about the pricing expectations of hotel and living assets in APAC in 2025. Steve Carroll, head of hotels, capital markets, Asia Pacific at CBRE, noted that after a strong performance over the past 18 months, investors anticipate that Apac hotel room rates will continue to rise, leading to growth in income for hotel operators.

The rebound in tourist arrivals, especially in countries like Japan, Singapore and Australia, has also contributed to the healthy buying intentions in the region. The increase in international arrivals has pushed up hotel room rates, ensuring a continuation of the income growth achieved by hotel operators last year.

Investing in a condo in Singapore offers numerous advantages, with one major benefit being the potential for capital appreciation. This thriving city-state boasts a prime location as a global business hub, supported by a strong economy, resulting in a constant demand for real estate. Over time, property prices in Singapore have consistently increased, particularly in sought-after locations like prime condos. Savvy investors who enter the market at the opportune moment and hold onto their properties for a significant period can reap considerable capital gains. Keep on top of the latest developments with the launch of new condos at Homesearch.

In addition, investors are encouraged by the limited hotel supply in APAC. According to data from hospitality data intelligence group STR, the hotel supply pipeline in APAC is expected to grow at a CAGR of 2.2% between 2024 and 2028, which is significantly lower than the 5% CAGR recorded between 2013 and 2023.

The survey also found that REITs had the highest net buying intentions at 22%, a sharp increase from the -13% recorded in last year’s survey. Institutional investors and property funds followed closely with 12% and 10% net buying intentions respectively. CBRE also noted that private equity and real estate funds for hotels are expected to continue their momentum from 2024 into this year.

However, private investors and high-net-worth individuals are expected to drive fewer hotel acquisitions this year. After two years of being the most active buyer type in the region, private investors indicated a greater level of selling activity in 2025 as they look to capitalise on improving market sentiment after acquiring assets during a period of price dislocation.

In terms of investment strategy for 2025, survey respondents favoured a value-add approach. CBRE observed that in select markets, assets have been repriced to the point where investors believe they can achieve value-add returns by acquiring assets that have a low risk profile.

This has led to the upscale and upper midscale hotel categories being voted as the most attractive asset types for investment this year, overtaking the upper upscale category that topped last year’s survey. The report attributes this shift to the operational flexibility and greater scope for value-added opportunities offered by this segment, such as redevelopment, adaptive reuse and rebranding of existing properties, which are cheaper alternatives to new developments.

The preference for this segment is also due to the leaner labour pool compared to higher-tier assets, resulting in reduced labour and cost pressures. Amid this shift, investors are also turning to long-stay or hybrid hospitality models. CBRE cites the growing appetite among investors to convert assets into co-living spaces as an example of this trend. This momentum is expected to gain traction in countries like Japan, Hong Kong and Singapore, where there is demand for cost-effective accommodation in relatively inflexible rental markets.

Other emerging trends include a greater preference for assets with vacant possession at the time of acquisition, which offers flexibility in terms of operator selection and refurbishment works. Limited-service hotels also saw a higher level of interest from respondents as investors remain focused on minimising operational costs.

Tokyo retained its position as the preferred city among hotel investors, thanks to low interest rates and stable income streams generated by hotel properties. Osaka also made it to the top five cities, for similar reasons. Singapore and Sydney also ranked among the top cities, with solid hotel fundamentals such as growth in daily rates and underlying operating profits. Seoul also stood out, with more visitors from mainland China driving daily rates in recent years, leading to an uptick in investor activity.

Overall, the CBRE survey shows that the APAC hotel sector is expected to continue seeing strong investment activity in 2025, driven by a rebound in tourist arrivals, limited hotel supply, and a shift towards the upscale and upper midscale segment.…

Investing in a Condo in Singapore has emerged as a favored option for both local and foreign investors, given the city-state’s strong economy, stable political climate, and exceptional quality of life. The real estate market in Singapore presents a plethora of opportunities, with condos being a standout choice due to their convenience, amenities, and potential for significant returns. In this article, we will delve into the advantages, factors to consider, and necessary measures to take when investing in a Condo in Singapore. If you are interested in Condo investments, check out Condo.

ETC and OrangeTee Group, two prominent real estate firms, have announced their merger in a joint press release on Feb 24. The new holding company, which has not yet been named, will bring together the expertise and resources of both companies.

According to Desmond Sim, CEO of ETC, this is not an acquisition, but a union of minds. Under the new structure, Sim will serve as the group CEO while Justin Quek, current CEO of OrangeTee & Tie, will assume the role of deputy group CEO.

The merged entity will have a total of 520 employees and 2,803 salespersons registered with the Council for Estate Agencies (CEA). ETC will focus on consultancy and advisory services, while OrangeTee will concentrate on proptech and its real estate agency business.

This merger builds on the 2017 joint venture between the two companies, where they merged their associates’ business under a new entity, OrangeTee & Tie. This move propelled OrangeTee & Tie to the third spot among the top three agencies, with a sales force of over 4,000 agents. The former Edmund Tie had also acquired a 20% stake in the company.

The merger between ETC and OrangeTee was facilitated by Triplestar Holdings and TH Investments, both entities related to the family of Roland Ng, managing director and group CEO of Tat Hong Holdings. These two companies acquired a stake in ETC in 2016 and currently own the entire company.

This year marks a significant milestone for ETC as it celebrates its 30th anniversary. The company was recently rebranded as ETC, dropping its former name, Edmund Tie & Company.

OrangeTee Group has been in operation since 2000 and will celebrate its 25th anniversary this year. It is led by a board of directors and supported by the C-suites, including Justin Quek, CEO of OrangeTee & Tie; Marcus Oh, managing director of OrangeTee Advisory; Teo Yak Huat, CFO; and Christine Sun, chief researcher and strategist.

The stakeholders of OrangeTee Group include Tokyu Livable Inc., one of Japan’s largest real estate agencies, which acquired a 22.5% stake in the company in 2014. Vogue Capital Group, a private property fund, is also a shareholder of OrangeTee Group.

ETC also has a presence in Malaysia and Thailand through its joint venture company Nawawi Tie, and its associate company Edmund Tie & Co (Thailand). The merger with OrangeTee Group presents more opportunities for ETC in the ASEAN region and Japan, particularly through its relationship with Tokyu Livable. With this merger, ETC aims to deliver innovative and seamless solutions across all real estate sectors.…

Investing in a Singapore condo offers a multitude of benefits, one of the most notable being the potential for capital appreciation. Boasting a strategic location as a global business hub and a robust economy, Singapore maintains a high demand for real estate. As a result, property prices have consistently risen over the years, particularly in prime locations. For investors who enter the market at the right time and hold onto their condos for the long term, the potential for significant capital gains is promising.

UOL and CapitaLand Development have recently announced the successful launch of ParkTown Residence in Tampines North. During the launch weekend, 1,041 units were sold, accounting for more than 87% of the total 1,193 units. This translates to an average price of $2,360 psf, according to Anson Lim, UOL’s general manager of residential marketing. The majority of buyers were either Singaporean homebuyers or investors.

The project consists of two-bedroom and three-bedroom units, making up 994 units (83%) of the entire development. These unit types were the most popular, with 92% being sold over the launch weekend. The high demand for ParkTown Residence can be attributed to its unique status as a fully integrated residential and lifestyle development, directly connected to a retail mall, the future Tampines North MRT station, a bus interchange, a green boulevard, a community club, and a hawker centre. A spokesperson for UOL and CLD stated that before the launch, 2,367 cheques were collected, resulting in a sales conversion rate of 44%. This is significantly higher than the average of 30% to 35% for most new project launches.

According to Mark Yip, CEO of Huttons Asia, no mega project has sold more than 1,000 units in its launch weekend since the launch of High Park Residences in July 2015, which sold 1,100 units over three days. ParkTown Residence, however, has surpassed this record since the 846-unit Emerald of Katong, which achieved a 99% take-up rate in November last year, selling 835 units.

The success of ParkTown Residence has also exceeded that of previous integrated developments, according to Ismail Gafoor, CEO of PropNex. The most recent integrated project launch was The Reserve Residences, with 732 units launched in May 2023 and achieving a 71% take-up rate during its launch weekend. As of Feb 23, the project has sold 98.2% of its units at an average price of $2,484 psf, based on caveats lodged. Marcus Chu, CEO of ERA Singapore, also stated that mixed-use developments integrated with transport hubs have been popular among homebuyers and investors due to their potential for capital upside and high rentability.

The last two fully integrated developments to be completed were North Park Residences in Yishun (launched in 2015) and Sengkang Grand at Buangkok (launched in 2019), with 920 units and 680 units, respectively. The average price of North Park Residences is $1,809 psf, which is 65% higher than the average resale prices in District 27. Meanwhile, Sengkang Grand commands an average price of $2,029 psf, which is 25% higher than the average resale prices in District 19.

Located at Tampines Street 62, ParkTown Residence is part of the first mixed-use development integrated with a transport hub in Tampines. According to Huttons’ Yip, many of the buyers were HDB upgraders who wanted to stay in Tampines. Its completion in 2030 is aligned with the scheduled opening of the Tampines North MRT Station on the Cross Island Line (CRL), which is a major arterial line running from East to West of Singapore, says Ken Low, managing partner of SRI. Additionally, the relocation of the neighbouring Paya Lebar Airbase in 2030 is expected to free up 800ha of land for future developments.

Under the URA Master Plan, three more government land sales (GLS) sites will be linked to the upcoming Tampines North MRT Station. With these new projects potentially being launched at higher prices, Low believes that Tampines will benefit from these developments. In 2027, new infrastructure developments such as a cycling bridge, an underpass, and 7.7km of cycling paths will be completed, bringing the total to 40km. There will also be a new pedestrian route between Tampines MRT Station and the malls in the regional centre, which was announced on Feb 22 as part of the Tampines Town Council’s five-year masterplan for 2025 to 2030.

“All these will enhance the liveability in Tampines, which already has strong attributes,” says SRI’s Low.…

Acquiring property in Singapore requires a thorough understanding of the rules and regulations, especially for international investors. In general, foreigners are allowed to purchase condominiums, but the ownership of landed properties is subject to stricter limitations. It’s important to note that foreign buyers are also required to pay a 20% Additional Buyer’s Stamp Duty (ABSD) for their first property purchase. Despite these restrictions, the consistent stability and potential for growth in Singapore’s real estate market continue to entice foreign investors. This is evident through the ongoing interest and investment in New Condo Launches, which can be found at Homesearch-md.com.

Singapore, Feb 22, was a good day for MCL Land and CSC Land Group as they sold 326 units of their joint venture property, Elta, located at Clementi Avenue 1, out of a total of 501 units. This translates to a 65% sales rate with each unit selling at an average price of $2,537 psf. Out of the 326 units sold, Singaporeans made up 90% of the buyers while the remaining 10% were permanent residents. Majority of the buyers came from districts 19, 5, and 23, with the two-bedroom units being the most popular among them. The one-bedroom plus study units were also in high demand among buyers. Elta is the final project to be launched in Clementi Avenue 1, following the successful transactions of the earlier two projects, The Clement Canopy and Clavon, developed by UOL Group and Singapore Land Group. The strong sales at Elta show buyers’ confidence in the project which offers a perfect blend of modern living, convenience, and comfort. According to PropNex CEO, Ismail Gafoor, over 60% of the units sold were one- and two-bedders, with prices below $2.2 million, indicating a strong demand for these types of units. According to MCL Land CEO, Lee Tong Voon, the sales at Elta are a testament to buyers’ faith in the project that offers a contemporary lifestyle, surrounded by numerous amenities. The lack of further development plots in Clementi town center has also contributed to the project’s success. One of the main reasons for the high sales at Elta is the previous track record of the projects at Clementi Avenue 1, with zero unprofitable transactions. According to managing partner of SRI, Ken Low, this is a significant factor that has attracted buyers to invest in the project. The Clement Canopy has experienced a 45% increase in average selling prices to $1,922 psf since its launch in 2017, while Clavon saw a 27% hike in average selling prices, which currently stand at $2,086 psf since its launch in 2020. Both projects have also experienced a high rental demand, with two-bedroom units at The Clement Canopy leasing between $4,200 and $4,700 per month and the latest transaction at Clavon’s 764 sq ft, two-bedroom unit leasing for $4,600 per month, giving buyers confidence in their investments. Elta’s proximity to employment nodes such as NUS, one-north, the Science Park, Pandan Loop Industrial Estate, Jurong Lake District, and future Dover Knowledge District, is another factor that has attracted buyers. The project is also connected by the East-West Line and will soon be linked to the upcoming Cross Island Line. This connectivity is expected to enhance the project’s rental demand, especially among international students and professionals. Investors have also been drawn to Elta due to the ongoing MOP of over 2,500 HDB units, projected to increase by 1,100 units this year. Elta is also surrounded by numerous nature parks, including Clementi Woods Park, West Coast Park, and Kent Ridge Park, providing residents with easy access to green spaces and promoting a healthy lifestyle. The strong sales at Elta can also be attributed to the healthy pool of HDB upgraders in Clementi and Queenstown. Elta has been well-received by families, with three-bedroom units being popular among them, as well as extended families who opted for the four-bedroom units. According to ERA CEO, Marcus Chu, Elta’s sales have been further boosted by the fact that Clementi Avenue 1 is located in the educational belt, surrounded by prominent schools such as Nan Hua High School, NUS High School of Mathematics and Science, and Anglo-Chinese School Independent, as well as tertiary institutions like NUS and Singapore Polytechnic. The lack of further development plots in Clementi town center is another factor that has contributed to the project’s success, with SRI’s managing partner, Ken Low, citing that investors have shown high interest in the project due to the ideal profile of tenants in the area and its strategic location. All these factors have culminated in the strong sales at Elta, surpassing the 1,083 units sold in January, with total sales for February expected to exceed 1,500 units. As a result, Huttons Data Analytics has revised its full-year projection to 7,500 – 8,500 units, with an estimated price growth of 4% – 7% for the year.Overall, Elta is a highly sought-after development that has attracted a diverse mix of buyers due to its strategic location, access to top schools and amenities, and the lack of further development plots in the area. With the ongoing MOP and healthy rental demand, Elta presents a promising investment opportunity for buyers.…

CapitaLand India Trust (CLINT) has recently announced its plan to acquire an office project in Nagawara, Outer Ring Road, Bangalore for an estimated amount of $233.6 million. This strategic move will be executed through a forward purchase agreement with Maia Estates Offices.

According to CLINT, the acquisition of this 1.13 million sq ft office project is expected to bring in positive results for both the group and its unitholders. The company forecasts a net profit of $7.7 million on a stabilized basis and an increase in distribution per unit from 6.84 cents to 6.98 cents.

The office project, situated in a mixed-use development, will consist of both office and retail spaces. As part of the forward purchase agreement, CLINT will fully fund the development of the office project and receive interest on the funding at a higher rate than its borrowing cost.

For those looking for investment opportunities in overseas properties, CLINT offers a range of projects available for sale around the world.

Upon completion of the development, CLINT is expected to acquire the office space in the first half of 2030, while Maia will retain the retail portion. This will result in a 9.9 million sq ft operational area for CLINT’s portfolio in Bangalore, up from the current 8.7 million sq ft.

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Investing in a Singapore condo offers numerous advantages, with one of the most notable being the potential for capital appreciation. Due to its strategic location as a global business hub and strong economic stability, the demand for real estate in Singapore remains constant. As a result, property prices in the country have consistently increased over the years, particularly for condos in prime locations. For investors who enter the market at the opportune moment and hold onto their properties for an extended period, they can enjoy significant gains in value. This makes purchasing a Singapore condo a wise investment decision.

Apart from this new office project, CLINT has two other properties under development in Bangalore, namely, two office buildings in Gardencity, an IT Park at Hebbal, and another IT Park at ITPB.

With the addition of this office project, CLINT’s portfolio size, including its committed investment pipeline, will increase by 4.0%, from approximately 30.2 million sq ft to approximately 31.47 million sq ft.

Gauri Shankar Nagabhushanam, the CEO of CLINT, states that the acquisition of this prime office project in Bangalore will further strengthen the company’s presence in one of India’s most prominent office markets. He also points out that Bangalore had the highest ever leasing levels for Grade A office space in 2024 and that the Outer Ring Road is the largest office micro-market in the city. With this new addition, CLINT will be able to offer its tenants a wider range of premium office spaces in key micro-markets in Bangalore.

On February 21, units in CLINT closed at $1. The company is also currently in the process of acquiring International Tech Park Pune from its subsidiary and JV partner for $221.9 million and plans to develop 6 million sq ft of prime offices in India with Indian developer L&T Realty.…

River Valley Apartments, a freehold condominium located on River Valley Road, has been sold for $56 million. This transaction marks the first successful residential collective sale deal of 2025, with the selling price equivalent to a land rate of $1,622 psf per plot ratio (psf ppr). According to Knight Frank Singapore, the marketing agent handling the sale, each strata-titled owner stands to receive a minimum of $2 million to $2.6 million based on the sale price. The purchaser, a Singapore family office, intends to redevelop the site into serviced apartments as confirmed by an Outline Permission granted by URA.

Chia Mein Mein, head of capital markets (land and collective sale) at Knight Frank Singapore, says, “This marks the first collective sale site sold in 2025, amid a challenging collective sale market, especially for the residential sector.”

This marks the first residential collective sale site sold in a prime district since May 2023, when Kew Lodge was sold for $66.8 million to Aurum Land.

The tender for River Valley Apartments received a high level of interest, according to Chia. She adds that the development’s attractiveness lies in its “excellent locational attributes” within the popular River Valley neighborhood. The site’s planned redevelopment into serviced apartments is strategically positioned to cater to the rapidly expanding living sector in Singapore.

River Valley Apartments comprises of a four-storey building with 24 units and sits on a 12,408 sq ft site. It is zoned “residential” with a gross plot ratio of 2.8 under the latest Master Plan. Owners of the development launched the collective sale on Jan 7 with a guide price of $56 million.

Jerry Tan, chairman of the River Valley Apartments collective sale committee, says, “We had attempted to initiate the collective sale exercise in the past, and this is the first time we have secured the 80% owners’ consensus to proceed with the tender launch.”

When contemplating an investment in a condominium, one must also thoroughly evaluate its potential rental yield. Rental yield refers to the annual rental income as a percentage of the property’s purchase price. In Singapore, the rental yields of condos can greatly vary based on factors such as location, property condition, and market demand. Generally, areas with high rental demand, such as those near business districts or educational institutions, offer more favorable rental yields. It is essential to conduct thorough market research and consult with real estate agents to gain valuable insights into the rental potential of a specific condo. Don’t forget to check out Singapore Projects for more options.

River Valley Apartments properties are now available for sale and rental. Interested buyers can check out the latest listings for River Valley Apartments on our online platform, Buddy. Our website provides a comprehensive list of available properties, including unprofitable transactions in the area and price trends for HDB, condo, and landed properties. You can also view past sale transactions and rental listings for condos in District 10.…

at $3,948 psf

The bustling cityscape of Singapore is characterized by towering skyscrapers and state-of-the-art infrastructure. Condominiums, strategically situated in prime locations, offer a perfect combination of opulence and convenience, drawing the interest of both locals and foreigners. These residences boast a wide array of facilities, including swimming pools, fitness centers, and top-notch security services, elevating the overall living standards and making them particularly enticing to potential renters and buyers. From an investment standpoint, these desirable features equate to higher rental returns and a steady appreciation in property values over time. Explore the latest offerings in the bustling Singapore real estate market at Singapore Projects.

Nassim 9, a luxury development located in prime District 10, saw a record-breaking resale transaction during the period of February 4 to 7, marking it as the most profitable private non-landed resale during this period.During this time, a 2,486 sq ft, four-bedroom unit located on the third floor was sold for $7.5 million, or $3,016 per square foot (psf) on February 7. This transaction was recorded as the most profitable private non-landed resale during this time period.According to URA caveats, the seller had bought the unit for $4.12 million, or $1,641 psf, back in December 2005. This resulted in a profit of $3.42 million, or 83.8% of their original purchase price. This translates to an annualised gain of 3.2% over 19 years.This transaction is the third-most profitable resale deal at Nassim 9, with the current record being set in March 2023 when a larger four-bedroom unit spanning 2,756 sq ft was sold for $9.5 million ($3,448 psf). It had been bought for $4.12 million ($1,495 psf) in December 2005, resulting in a profit of $5.38 million (130.6%), or an annualised gain of 5% over 17 years.AdvertisementAdvertisementPrior to the unit sold on February 7, the last caveated transaction at Nassim 9 was in March 2023, when a 3,251 sq ft, four-bedroom unit was sold for $10.3 million ($3,169 psf). This resulted in a profit of $3.3 million.Nassim 9, which has only eight units, is a boutique condo located along Nassim Road in prime District 10. It was completed in 2002 and has four-bedroom units spanning between 2,756 and 3,423 sq ft.In second place for the most profitable resale during this period was Mount Faber Lodge, a boutique freehold development that saw a triplex penthouse unit sell for $5 million ($1,350 psf) on February 5. The unit had last changed hands in August 2001 for $1.6 million, resulting in a profit of $3.4 million (212.5%), or an annualised gain of 5% over 23.5 years.The unit sold on February 5 is the most profitable unit transacted at Mount Faber Lodge to date. The previous record was held by a three-bedroom unit spanning 2,669 sq ft on the third floor that was sold for $3.89 million ($1,457 psf) in October 2022. The unit had been purchased for $1.3 million ($487 psf) in January 2006, resulting in a profit of $2.59 million (199.2%).Completed in 1983, Mount Faber Lodge is a boutique freehold development located along Mount Faber Road in District 4. It consists of 84 units, including studio units spanning 1,098 sq ft, and two- and three-bedroom units from 1,173 to 2,454 sq ft. The development also has 20 five-bedroom triplex penthouses sized between 3,703 and 3,724 sq ft.AdvertisementAdvertisementIn third place was the sale of a three-bedroom unit at Amaryllis Ville, a 99-year leasehold condo in prime District 11. The 1,238 sq ft unit on the 28th floor was sold for $2.65 million ($2,141 psf) on February 5. It had last changed hands for $1.09 million ($884 psf) in June 2005. As a result, the seller made a profit of $1.56 million (142.2%), or an annualised gain of 4.6% over 19.5 years.The February 5 transaction was the third-most profitable for Amaryllis Ville, with the record belonging to a 1,991 sq ft, three-bedroom unit on the 17th floor that was sold for $3.75 million ($1,885 psf) in September 2023. The unit had been bought for $1.95 million ($979 psf) in June 2009, resulting in a profit of $1.8 million (92.5%), or an annualised gain of 4.7% over 14 years.According to resale data from EdgeProp Singapore, prices at Amaryllis Ville have been steadily increasing in recent years. A rolling 12-month average showed that the average price hit $1,897 psf in February 2023 before rising to $2,001 psf in February 2024. Last month, the average price hit $2,082 psf, a 4% year-on-year increase.Amaryllis Ville is made up of 311 units and is located along Newton Road. Completed in 2004, it offers a mix of studio units spanning 657 sq ft, two-bedroom units from 1,173 to 2,454 sq ft, and three-bedroom units from 958 to 2,637 sq ft. The development also has 20 five-bedroom triplex penthouses measuring 3,703 to 3,724 sq ft.There were no unprofitable transactions recorded during this period.…