Based on data crunched of resale transactions in 2Q2023
for Business Times by real estate consultancy Cushman & Wakefield, sellers of Executive Condominium earned the highest profit in 4 out of 5 most profitable resale deals.
In percentage gained term, EC sellers earned an annualised profit of between 9.7% and 11%. In absolute dollar terms, these ECs were sold at nearly double the original purchase prices!
In absolute dollar terms, the biggest earner ($10.13 million sold for $14 million) and loser ($4.98 million sold for $3.15 million) were found in Central Core Regions.
Generally, sellers in Singapore tend to have strong financial ability, and would be able to hold onto their properties and sell them at appropriate profits.
Price of properties in RCR rose 4.3% in the last decade, and those in Rest of Central Region (city fringe) by 33.9% and Outside Central Region by 34.9%.