Morningside three-bedroom flat made $3.6 million

Morningside three-bedroom flat made $3.6 million

The most lucrative condo Grand Dunman resale deal from November 14th to the 21st, according to caveats recorded with URA, was a three-bedroom unit at The Morningside near Grand Dunman Virtual Tour. This 2,411-square-foot unit was sold on November 16th for $5.2 million, or $2,157 per square foot. The owner made $3.64 million after purchasing the unit in November 2002 for around $1.57 million ($649 psf). After 21 years of keeping, this amounts to a 232% gain in capital.

So far, this sell has been the most lucrative one for The Morningside. A 2,411 sq ft unit sold for $3.6 million ($1,493 psf) in May 2007, breaking the previous record. A gain of $2.07 million was realized by the Grand Dunman Developer, who had paid $1.53 million ($635 psf) for the unit in February 1999.

Jalan Kuala, just off River Valley Road in District 9, is home to The Morningside, a freehold apartment complex. The completion of the 79-unit condominium occurred in 1992. Three- and four-bedroom units ranging in size from 1,270 to 3,520 sq ft are available. Only one other unit at The Morningside has been sold so far this year, and that was on November 16th. About $6.3 million ($1,784 psf) was the price of a 3,520 sq ft condominium in April.

A three-bedroom unit at Duet was the second most lucrative resale transaction of the reviewed week. On November 20th, the 1,744 sq ft top-floor unit was sold for $3.68 million, or $2,110 per square foot. The developer had sold the unit to the seller in February 2005 for $1.36 million, or $780 per square foot. In the end, they made $2.3 million, or 170%, during their roughly 19-year holding period.

From the looks of the caveats, this is the most lucrative resale deal that Duet has ever seen. It outperforms the most recent record-breaking sale, which was a 1,744 sq ft unit sold in October 2019 for $2.8 million ($1,606 psf). At $1.42 million ($814 psf), the seller generated a profit of almost $1.4 million after buying the unit from the developer.

Duet is a 2005 freehold condo situated on Holland Road in desirable District 10. The two 12-story towers include a total of 42 apartments. There are 1,701–3,541 square foot units available, with three or four bedrooms.

South Beach Residence Showflat is open for online booking. You can now register online to receive direct developer discount offers and prices.