A three-bedroom unit at UE Square recently achieved a notable sale price of $3.46 million, marking a significant profit of $2.13 million. This transaction, completed on May 29, 2023, represents a remarkable 160.2% increase from the unit’s previous purchase price of $1.33 million in July 1999. The sale is particularly noteworthy as it stands as the third most profitable transaction recorded at UE Square, a prestigious development located in prime District 9, which was completed in 1997.
The unit in question is situated on the 12th floor and spans 1,561 square feet. Over the nearly 26 years since its initial purchase, this property has delivered an annualized gain of approximately 3.8%. This steady appreciation in value reflects not only the desirability of the location but also the overall health of the real estate market in the area.
The current average resale price at UE Square is reported at $2,084 per square foot. In contrast, this unit’s sale achieved a higher price of $2,217 per square foot, indicating strong demand and a competitive market environment.
In the context of the broader market, UE Square has demonstrated resilience and profitability. This year alone, the development has recorded seven transactions, with four of these sales proving to be profitable. This trend suggests a favorable outlook for current and prospective owners, reinforcing the development’s reputation as a solid investment choice in Singapore’s real estate landscape.
The sale of this three-bedroom unit is illustrative of the enduring appeal of UE Square, where residents enjoy not only quality living spaces but also proximity to a variety of amenities and services that enhance their lifestyle. The development’s prime location contributes significantly to its desirability, making it a sought-after choice for buyers looking to invest in property within District 9.
As real estate dynamics continue to evolve, the profitability of this transaction may serve as a benchmark for future sales within UE Square and similar developments in the vicinity. Investors and homeowners alike will undoubtedly take note of the significant returns generated by this sale, which exemplifies the potential for high-value transactions in Singapore’s competitive property market.
NEW CONDO LAUNCH: RIVER GREEN
River Green is an exciting new condo development that offers a range of modern amenities and eco-friendly features designed for contemporary living.
With various unit sizes available, potential buyers can explore the River Green Floor Plan to find the perfect fit for their needs. Competitive pricing strategies will be in place to attract buyers, making it an appealing investment amidst a strong demand for residential properties.
For more details on the River Green project information, including the launch date and e-brochure, interested parties can easily access the resources.
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News Source: Edgeprop
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