Suburban properties chalk up biggest resale gains in Q4 as prices outperform
Clementi Park unit tops Q4 gains with S$2 million profit after 6 years
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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).
