Around a month ago, we reviewed condo units that were sold at a capital loss in November 2022.
This time, we’re going to do a quick review of condo transactions in December 2022 with a capital gain of at least 100%.
Based on URA data captured as of 10 January 2023, we looked through condo transactions with all-time high-gains in their respective developments. We then filtered out those with at least 100% capital gain.
| Condo name | Floor area (sq ft) | Purchase price | Purchase date | Sale price | Sale date | Capital gain | Holding period |
|---|---|---|---|---|---|---|---|
| Moonstone View | 1,184 | S$780k | 11 Sep 2009 | S$1.568m | 20 Dec 2022 | S$788k (101%) | 13 |
| Dahlia Park Condominium | 1,540 | S$688k | 28 Jul 2003 | S$1.5m | 23 Dec 2022 | S$812k (118%) | 19 |
| Madeira Court | 990 | S$645k | 1 Dec 2000 | S$1.48m | 30 Dec 2022 | S$835k (130%) | 22 |
| Harbour-lights | 1,270 | S$918k | 1 May 1999 | S$2.3m | 30 Dec 2022 | S$1.382m (151%) | 23 |
| Maya | 979 | S$495m | 22 May 2015 | S$1.288m | 27 Dec 2022 | S$793m (160%) | 7 |
| Monterey Park Condominium | 1,367 | S$798k | 12 Nov 2004 | S$2.08m | 9 Dec 2022 | S$1.282m (161%) | 18 |
| Parkview Apartments | 1,088 | S$365k | 24 Jun 2005 | S$955k | 6 Dec 2022 | S$590k (162%) | 17 |
| Melville Park | 1,475 | S$495k | 7 Dec 2006 | S$1.35m | 6 Dec 2022 | S$855k (173%) | 16 |
| Grandeur 8 | 1,195 | S$608k | 24 Jul 2003 | S$1.73m | 16 Dec 2022 | S$1.122m (185%) | 19 |
| Eastside Loft | 1,389 | S$730k | 27 Mar 2003 | S$2.1m | 7 Dec 2022 | S$1.37m (188%) | 19 |
| The Springbloom | 1,647 | S$742k | 12 Dec 1998 | S$2.33m | 16 Dec 2022 | S$1.588m (214%) | 24 |
| Lagoon View | 1,646 | S$570k | 17 May 1999 | S$1.9m | 29 Dec 2022 | S$1.33m (233%) | 23 |
| Lutheran Tower | 1,916 | S$420k | 28 Apr 2005 | S$2.018m | 22 Dec 2022 | S$1.598m (381%) | 17 |
Does holding on to the property longer guarantee higher returns?
Looking at the data above, most of the homeowners who earned at least 100% gain had indeed held on to their properties for at least 15 years. Only two properties had a holding period of less than that.
At the same time, we can’t say for sure that a longer holding period will definitely guarantee higher returns.
For instance, the Lutheran Tower unit, which has the highest capital gain by quantum and percentage, was held for 17 years. In comparison, The Springbloom unit, which had the longest holding period of 24 years, had a lower capital gain by quantum and percentage.
On top of that, there’s a few transactions with the same holding period that have different percentage gains.
For instance, both the Parkview Apartments and Lutheran Tower units were bought in 2005 and sold last month, translating to a holding period of 17 years.
However, the capital gain for the Lutheran Tower is way higher at S$1,598,000, or 381%. One main reason for this could be its location at the prime Bukit Timah, as opposed to Parkview Apartments’ location at Bukit Batok.
And as we’ve highlighted in the previous article on condo sales losses in November, more than half of those properties were held for at least 10 years.
More importantly, besides location and holding period, it’s important to note that there’s a combination of factors that help a property fetch a higher price and earn higher gain for homeowners. These include factors such as a bigger size, as well as resale transactions nearby and the current property market.
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If you’re wondering how much you can gain from selling your property, check out 99.co’s Property Value Tool, which allows you to get an estimate of your capital gain.
Thinking of unlocking the gains of your property? Let us help you by connecting you with a property consultant.
If you found this article helpful, 99.co recommends Examining recent record condo sales in District 20 (AMK, Bishan) and November’s top 10 condo sales in CCR, RCR and OCR with highest capital gains split by holding periods.
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