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A 4,230 square foot (sq ft) unit at Jadescape in Bishan was sold for S$10.2 million in December 2024, earning the seller a tidy profit of S$4.4 million – making it the most profitable transaction by quantum in the fourth quarter of 2024.

The penthouse unit at the 99-year leasehold condominium in District 20 was bought for nearly half that, at S$5.8 million or S$1,371 per square foot (psf), back in December 2019. This is according to data crunched for The Business Times by real estate consultancy Cushman & Wakefield.

On a psf basis, the unit was sold for S$2,399 psf in December 2024.

This made for the highest transaction price for the project as at Jan 20 and the second highest price on a psf basis, noted Cushman & Wakefield research head Wong Xian Yang. Overall median prices at Jadescape was S$2,184 psf in 2024, up around 25 per cent from S$1,739 in 2020.

With a holding period of five years, the annualised profit works out to 11.9 per cent. The seller’s gross gain amounted to about 75 per cent, more than double the 33 per cent rise in the overall private residential price index between Q4 2019 and Q3 2024.