Landed property deals reap tidy profits in Q1 2021

Non-landed properties did not fare as well as units were generally purchased during 2007 property market peak, or could have been sold due to unfavourable circumstances

Nisha Ramchandani

Published Thu, Apr 22, 2021 · 05:50 AM

Edmund Tie

Singapore

TRANSACTIONS for landed properties dominated the top profit-making deals in the first quarter of this year, with their sellers handsomely rewarded as they walked away with huge profits.

Among the blockbuster deals was the sale of a freehold Good Class Bungalow (GCB) at Nassim Road, setting a record price of S$4,005 per square foot (psf) based on land area. The 32,160 sq ft site in District 10 was sold for S$128.8 million, more than four times the S$30.3 million (S$942 psf) it was purchased for in November 2006.

This is according to data from Edmund Tie Research, which studied caveats for priva…