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S$16.5 million deal at The Ritz-Carlton Residences tops Q1 gainers; seller reaps S$4.9 million profit

Five biggest money-making transactions by quantum in Q1 are in prime Core Central Region

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Ry-Anne Lim

Ry-Anne Lim

Published Tue, Apr 23, 2024 · 03:56 PM
    • The 33rd floor unit at The Ritz-Carlton Residences Singapore sold for S$5,397 per square foot in January.
    • The top five most profitable resale deals are for units sold at Treasure Crest EC, where sellers doubled their money.
    • The 33rd floor unit at The Ritz-Carlton Residences Singapore sold for S$5,397 per square foot in January. PHOTO: BT FILE
    • The top five most profitable resale deals are for units sold at Treasure Crest EC, where sellers doubled their money. PHOTO: TREASURE CREST

    DeeperDive is a beta AI feature. Refer to full articles for the facts.

    THE sale of a 3,057 square foot (sq ft) unit at The Ritz-Carlton Residences Singapore, Cairnhill was the most profitable resale deal in absolute terms in the first quarter of 2024, giving the seller a tidy S$4.9 million gain.

    According to data crunched for The Business Times by real estate consultancy Cushman & Wakefield, the 33rd floor unit at the freehold luxury development in District 9 was sold for S$16.5 million or S$5,397 per square foot (psf) in January. That was the first time since June 2023 that prices in the prime residential market crossed the S$5,000 psf mark, BT had earlier reported.

    The seller reaped a gain of S$4.9 million or 42 per cent over the initial purchase price of S$11.6 million (S$3,795 psf).

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