Leedon Green has set a new benchmark in the real estate market by achieving a record high price per square foot (psf) of $3,475 between March 7 and 14, 2024. This impressive figure was reached through the sale of a 1,496 square foot, four-bedroom unit that commanded a staggering price of $5.2 million. The achievement surpassed the previous psf high of $3,471, which had only been established in January 2024. This upward trend reflects not only the desirability of the Leedon Green development but also the broader dynamics of the real estate market in the area.
The unit's recent sale is significant not only for its price but also for the financial outcome it provided to the seller. Originally purchased for $3.99 million in June 2020, the seller now realizes a profit of approximately $1.21 million from the transaction. This profit illustrates the potential for substantial returns in the property market, particularly in developments like Leedon Green, which have been strategically positioned to attract discerning buyers.
Completed in 2023, Leedon Green is a well-designed residential project that comprises seven 12-storey blocks housing a total of 638 units. The development offers a diverse range of apartment sizes, accommodating various preferences and needs, with units ranging from 474 square feet to a generous 2,680 square feet. Such variety makes Leedon Green an attractive option for both individual homeowners and investors seeking lucrative opportunities in real estate.
Situated along Leedon Heights in District 10, the development's location further enhances its appeal. The surrounding area is well-equipped with numerous amenities, including shopping centers, dining options, and recreational facilities, all of which contribute to the overall lifestyle offered to residents. Additionally, the proximity to public transportation options ensures that commuting is convenient, making it a desirable choice for professionals and families alike.
The record-setting psf price at Leedon Green not only signifies the quality and desirability of the development itself but also showcases the growing demand for luxury residences in Singapore. As the city-state continues to attract both local and international buyers, properties like Leedon Green are likely to remain at the forefront of market interest.
In the context of the current real estate landscape, the milestone achieved by Leedon Green serves as a reflection of the evolving market conditions and the appetite for high-end living spaces. The achievement of a record high price per square foot underscores the potential for continued growth and profitability in the sector, establishing a noteworthy case study for future developments.
As the market evolves, it will be interesting to see how other projects respond to this benchmark, and whether they can replicate or surpass this significant achievement in the luxury segment of real estate in Singapore.
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News Source: Edgeprop
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