Suburban properties chalk up biggest resale gains in Q4 as prices outperform

SUBURBAN and city fringe residential properties proved most profitable on resale during the fourth quarter of 2023, outperforming prime property deals that typically show large gains.

A Clementi Park condominium unit sold in November made the most money by quantum in Q4. The seller walked away with a profit of nearly S$2 million after just over six years. 

The large, 3,068 square foot unit at the freehold condo in District 21 of the Outside Central Region (OCR) was bought for S$2.8 million or S$913 per sq ft in October 2017. It sold in November last year for S$4.8 million, yielding an annual profit of 9.2 per cent, according to data collated for The Business Times by real estate consultancy Cushman and Wakefield (C&W).