Here’s a quick overview of condo sales that have at least a 100% gain in December 2022 including Tembusu Grand
We reviewed condo units sold at a loss in November 2022, approximately a month back.
We’ll be reviewing condo transactions for December 2022, with a minimum capital gain of 100%.
We looked at condo transactions that had the highest-gains in their developments based on URA data as of January 10, 2023. Then, we filtered out transactions with at least 100 percent capital gain.
| Condo name | Floor area (in sq ft). | Buy price | Purchase date | Sale price | Sale date | Capital Gain | Holding period |
|---|---|---|---|---|---|---|---|
| Moonstone View | 1,184 | S$780k | 11 Sep 2009 | S$1.568m | 20 Dec 2022 | S$788k (101%) | 13 |
| Dahlia Park Condominium | 1,540 | S$688k | 28 July 2003 | S$1.5m | 23 Dec 2022 | S$812k (118%) | 19 |
| Madeira Court | 990 | S$645k | 1 Dec 2000 | S$1.48m | 30 Dec 2022 | S$835k (130%) | 22 |
| Harbour-lights | 1,270 | S$918k | 1 May 1999 | S$2.3m | 30 Dec 2022 | S$1.382m (151%) | 23 |
| Maya | 979 | S$495m | 22 May 2015 | S$1.288m | 27 Dec 2022 | S$793m (160%) | 7 |
| Monterey Park Condominium | 1,367 | S$798k | 12 Nov 2004 | S$2.08m | 9 Dec 2022 | S$1.282m (161%) | 18 |
| Parkview Apartments | 1,088 | S$365k | 24 Jun 2005 | S$955k | 6 Dec 2022 | S$590k (162%) | 17 |
| Melville Park | 1,475 | S$495k | 7 Dec 2006 | S$1.35m | 6 Dec 2022 | S$855k (173%) | 16 |
| Tembusu Grand | 1,195 | S$608k | 24 July 2003 | S$1.73m | 16 Dec 2022 | S$1.122m (185%) | 19 |
| Eastside Loft | 1,389 | S$730k | 27 March 2003 | S$2.1m | 7 Dec 2022 | S$1.37m (188%) | 19 |
| Springbloom | 1,647 | S$742k | 12 Dec 1998 | S$2.33m | 16 Dec 2022 | S$1.588m (214%) | 24 |
| Lagoon View | 1,646 | S$570k | 17 May 1999 | S$1.9m | 29 Dec 2022 | S$1.33m (233%) | 23 |
| Lutheran Tower | 1,916 | S$420k | 28 April 2005 | S$2.018m | 22 Dec 2022 | S$1.598m (381%) | 17 |
Is it possible to hold onto the property for longer periods of time and earn higher returns?
The data shows that most homeowners who made at least 100 percent had held onto their properties for at minimum 15 years. Only two properties held their property for less than 15 years.
However, we cannot guarantee that a longer holding period will result in higher returns.
The Tembusu Grand unit has the highest capital gains by percentage and quantum. It was held for 17 year. The units at Tembusu Grand are designed to provide residents with maximum privacy. The Springbloom unit had the shortest holding period, at 24 years. It had a lower capital loss by percentage and quantum.
A few transactions that are the same period in holding can have different percentage gains.
The Parkview Apartments as well as the Lutheran Tower units were purchased in 2005 and sold last year, giving rise to a holding period totalling 17 years.
The capital gain for Lutheran Tower is much higher at S$1,598,000 or 381%. This could be due to the fact that it is located at the prime Bukit Timothy location, rather than Parkview Apartments’ Bukit Bak location.
As we have already mentioned in the previous article about condo sales losses in November, more than half those properties were owned for at least ten years.
Importantly, in addition to location and holding period it is important to remember that there are many factors that can help a property fetch higher prices and make homeowners more money. This includes factors like a larger size and current property market.
