Executive condo sellers in suburbs among top profit gainers in Q2
Overall, sellers are reaping lower gains and average losses are rising as market moderates; biggest losers were prime properties
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EXECUTIVE condominiums (EC) in the suburbs accounted for four of the five most profitable resale deals by percentage gain in the second quarter of 2023, with properties changing hands for almost double their original price.
And while prime properties chalked up the biggest absolute gains by virtue of their much higher prices, the five biggest losers in Q2 were all sales in prime areas, losing between S$300,000 and S$1.83 million and in value.
Data crunched for The Business Times by real estate consultancy Cushman & Wakefield showed that in Q2, four EC sellers pocketed profits of 86 per cent to 93 per cent after holding their units for an average of 6.5 years.
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