Leedon Green has reached a remarkable milestone in the luxury real estate market, achieving a record high price of $3,475 per square foot (psf) during a recent sub-sale. This impressive feat occurred between March 7 and 14, 2024, when a four-bedroom unit measuring 1,496 square feet was sold for a staggering $5.2 million. This sale not only set a new benchmark for the property but also eclipsed the previous psf record of $3,471 established in January 2024, highlighting the increasing demand and value of high-end real estate in the area.
The sale of the unit at Leedon Green reflects a significant appreciation in value for the seller, who acquired the property for $3.99 million in June 2020. The transaction resulted in a profit of approximately $1.21 million, illustrating the robust appreciation trends present in the luxury condo market. This substantial profit margin speaks to the evolving dynamics of property investment in Singapore, where buyers are willing to invest heavily for desirable units in sought-after locations.
Leedon Green itself is a relatively new development, having been completed in 2023. The project comprises seven 12-storey blocks that house a total of 638 residential units, offering a diverse mix of one- to four-bedroom apartments. The design and amenities provided within this development cater to the sophisticated tastes of luxury buyers, contributing to its appeal in a competitive market.
The successful sale of the unit at such a high psf reinforces the notion that buyers are increasingly prioritizing quality and exclusivity in their property choices. Over the past year, the average selling price for Leedon Green has hovered around $2,946 psf, indicating strong demand and interest in the development. This average suggests that while the recent sale was exceptional, the property has consistently attracted buyers willing to invest at a premium, thereby solidifying its status in the luxury real estate segment.
The upward trend in selling prices can be attributed to a combination of factors, including limited supply, desirable location, and the high-quality living environment that Leedon Green offers. As the luxury real estate market continues to evolve, the success of Leedon Green signals a growing appetite among buyers for high-end properties.
The record-breaking sale not only exemplifies the potential for significant returns in the luxury market but also sets a high standard for future transactions. Investors and homeowners alike are likely to take note of this achievement, as it highlights the lucrative opportunities that exist in premium developments. As demand for quality real estate remains robust, Leedon Green stands as a testament to the possibilities within the luxury property market, paving the way for ongoing growth and investment in similar developments across the region.
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News Source: Edgeprop
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