Five-bedder at Pandan Valley clocks price gain of $3.2 mil

August 19, 2022



The transaction for a five-bedroom apartment at Pandan Valley clocked the largest price gain for the week of Aug 2 to 9. The 4,585 sq ft unit changed hands on Aug 3 for $5.1 million (or $1,112 psf), based on caveats lodged. Located on the eighth floor, the unit was previously purchased at $1.9 million (or $410 psf) more than 25 years ago, in May 1997. The owner reaped a capital gain of $3.2 million, or 171%.

Completed in 1979 with a total of 605 units, the 14-storey freehold condominium was developed by the former DBS Realty (now CapitaLand). The development is located off Ulu Pandan Road in District 21. Pandan Valley is located near Pine Grove (Parcel A), a 242,564 sq ft, 99-year leasehold government land sale (GLS) site that was sold to a joint venture between UOL Group and Singapore Land Group for $671.5 million ($1,318 psf per plot ratio) in June. The developers are expected to develop a new condominium of about 520 units on the site.

The second most profitable deal of the week occurred at Mandarin Gardens. Completed in 1986, the 99-year leasehold condominium is located off Siglap Road in the Marine Parade area in District 15.

Read more at: https://www.edgeprop.sg/property-new...ce-gain-32-mil