A remarkable sale at The Tessarina has set a new benchmark for profitability in the luxury real estate market. A four-bedroom unit within this prestigious development was sold for an impressive $3.81 million, yielding a substantial profit of $2.4 million for the seller. This transaction, which stands out as the most profitable resale recorded at The Tessarina to date, encapsulates the lucrative nature of real estate investments in premium locations.
Originally purchased in March 2003 for $1.42 million, the unit achieved a remarkable capital gain of 168.9% over the holding period of approximately 22 years. This impressive gain not only reflects the desirability of the property but also highlights the strategic timing of the seller’s investment.
The Tessarina, completed in 2003, is strategically situated on Wilby Road near Bukit Timah Road, an area known for its affluent demographic and proximity to various amenities, further enhancing its investment appeal.
The annualized profit calculated over the holding period stands at 4.5%, a figure that underscores the unit’s consistent appreciation in value through fluctuating market conditions. Such a return on investment is particularly noteworthy in today’s real estate landscape, where many investors seek opportunities that offer both security and growth potential.
The Tessarina’s solid reputation and well-maintained facilities contribute to its sustained demand, making properties within the development attractive to prospective buyers.
The sale of this unit signifies not only a personal financial success for the seller but also a broader trend in the luxury real estate market where high returns are becoming more commonplace. The Tessarina, with its 443 units, has established itself as a sought-after address, attracting buyers looking for spacious residences in a prime location.
This sale may encourage other property owners in the development to reassess the value of their own units, potentially leading to increased activity in the market.
As the real estate market continues to evolve, sales like this one at The Tessarina serve as a benchmark for both sellers and buyers. Investors are likely to take note of the significant profit margin achieved from this sale, sparking interest in similar properties within the luxury segment.
The transaction also emphasizes the importance of location and property management in maximizing investment returns.
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News Source: Edgeprop
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