A three-bedroom unit at UE Square recently sold for $3.46 million, marking a significant milestone in the real estate market. This transaction not only highlights the enduring appeal of prime property locations but also showcases the impressive appreciation in value over the years. The unit, which spans 1,561 square feet and is situated on the 12th floor, has achieved a remarkable profit of $2.13 million for the seller, reflecting a substantial gain of 160.2% since its original purchase.
The property was acquired back in July 1999 for $1.33 million, illustrating a long-term investment that has paid off significantly for the seller. Over nearly 26 years, this investment has yielded an annualized gain of approximately 3.8%, demonstrating the potential for real estate assets to appreciate in value, particularly in coveted locations like UE Square. The transaction is noteworthy as it ranks as the third most profitable deal recorded at UE Square since the development’s completion in 1997, further emphasizing the desirability of this property.
Located in District 5, a prime area known for its accessibility and amenities, UE Square has consistently attracted buyers looking for luxury living in the heart of Singapore. The average resale price at UE Square currently stands at $2,084 per square foot (psf), indicating robust demand in the real estate market. This strong performance can be attributed to various factors, including the strategic location, the quality of the development, and the overall economic climate that has fostered investment in real estate.
The recent sale of the three-bedroom unit reflects the ongoing upward trend in property values in the region, even as market dynamics continue to evolve. Buyers are increasingly recognizing the potential for long-term capital appreciation in properties within prime locations, which has led to heightened competition among prospective homeowners and investors alike.
The impressive profit realized from this transaction illustrates not only the strength of the market but also the resilience of property values even after decades of ownership. As the real estate landscape continues to change, such transactions provide valuable insights into the potential returns on investment that can be achieved through wise property acquisition.
For those looking to enter the market, the success of this particular unit serves as a reminder of the importance of location, market timing, and the potential for significant appreciation over time. The enduring appeal of UE Square, coupled with its historical performance, positions it as a desirable option for future buyers seeking similar opportunities.
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News Source: Edgeprop
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