Four-bedder at Ritz-Carlton Residences reaps $3.5 mil profit

EdgeProp Singapore

October 29, 2021



SINGAPORE (EDGEPROP) - The sale of a 3,057 sq ft, four-bedroom unit at the luxury Ritz-Carlton Residences was the most profitable resale transaction over the week of Oct 12 to 19. The 31st-floor unit was sold for $15 million ($4,907 psf) on Oct 15. The unit had been bought for $11.48 million ($3,755 psf) in January 2018. As a result, the owner earned a profit of $3.52 million (31%), which translates to an annualised profit of 7.3% over nearly four years.

The recent transaction marks the highest psf price achieved by a resale unit at the luxury condo. On Aug 13, another 3,057 sq ft, four-bedder on the 30th floor was sold for $14 million ($4,580 psf).

There have been six resale transactions at the Ritz-Carlton Residences so far this year. Another 3,057 sq ft unit was sold for $13.2 million ($4,318 psf) on Jan 14. However, no matching caveats were found for the other five transactions.

Read more at: https://www.edgeprop.sg/property-new...-35-mil-profit