When you hear about impressive real estate returns, the recent sale of a three-bedroom unit at UE Square stands out. This unit, measuring 1,561 square feet and located on the 12th floor, was sold for a staggering $3.46 million on May 29, achieving a notable price of $2,217 per square foot. This transaction is remarkable not just for the final sale price, but also for the profit realized by the seller, who’d originally purchased the unit for just $1.33 million back in July 1999.
Imagine holding onto a property for nearly 26 years and seeing it appreciate in value so dramatically. The seller of this UE Square unit banked an impressive profit of $2.13 million. This translates to a remarkable 160.2% gain over the years, which breaks down to an annualized gain of approximately 3.8%. Such returns are hard to come by in any investment, but they highlight the potential of real estate as a lucrative asset class.
UE Square has been a notable player in the local real estate market, and this transaction marks the third most profitable deal recorded at the development. The current average resale price at UE Square stands at $2,084 per square foot, indicating that the market is performing well. In 2023 alone, UE Square has seen seven resale transactions, with four of these being profitable, showcasing a positive trend for investors and potential homeowners alike.
You might wonder what factors contribute to such impressive returns. The location of UE Square plays a significant role. Situated in a prime area, it attracts buyers looking for both residential and investment opportunities. The development’s amenities and accessibility to public transport further enhance its appeal, making it a desirable choice for families and young professionals.
The recent sale also reflects broader market trends in Singapore, where property values have shown resilience despite fluctuations in the economy. As interest rates normalize and demand for quality real estate remains strong, you can expect to see more buyers willing to invest in properties like the one at UE Square. This positive sentiment is essential, as it helps maintain—if not increase—the value of properties in the area.
For anyone considering investing in real estate, this sale serves as a compelling case study. The combination of a prime location, quality construction, and a solid track record of appreciation makes UE Square a noteworthy option. As you navigate the real estate landscape, keep an eye on developments like UE Square, as they can offer insights into market dynamics and potential investment opportunities.
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News Source: Edgeprop
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