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S$16 million deal at Leedon Residence tops Q1 gains with seller reaping S$4 million profit

Share of loss-making resale transactions inch down on resilient demand and strong household balance sheets

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Ry-Anne Lim

Ry-Anne Lim

Published Mon, Apr 28, 2025 · 05:00 AM
    • A penthouse unit at freehold luxury development Leedon Residence was sold for S$16 million in the first quarter, earning the seller S$4 million in profit.
    • A penthouse unit at freehold luxury development Leedon Residence was sold for S$16 million in the first quarter, earning the seller S$4 million in profit. PHOTO: BT FILE
    corrected20250428-ryprofit28-1.pdf

    [SINGAPORE] A 6,125 square foot (sq ft) unit at Leedon Residence was sold for S$16 million in March 2025, earning the seller a tidy profit of S$4 million – making it the most profitable transaction by quantum in the first quarter of 2025.

    According to data crunched for The Business Times by real estate consultancy Cushman & Wakefield, the 11th-floor penthouse unit at the freehold luxury development in District 10 was bought in April 2017 for two-thirds of what it sold for – that is, S$12 million or S$1,959 per square foot (psf). 

    On a psf basis, the unit went at S$2,612 psf in March 2025. 

    Cushman & WakefieldResidential propertySingapore residential propertyResidentialprivate home salesSingapore property

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