Four-bedder at Trevose Park achieves record profit of $3.4 mil
The second-highest achievement in the course of the week in evaluation originated from the sale of a four-bedroom unit at Riveredge. The 1,604 sq ft unit on the 10th floor fetched $3.22 million, or $2,008 psf, on March 9. The seller had purchased the unit for $1.15 million ($717 psf) in March 2009, thus reporting a profit of $2.07 million (180.1%) and an annualised growth of 6.3% over 17 years.
The most unprofitable resale purchase during the week in review was the sale of a two-bedroom unit at Liberte. The 1,324 sq ft unit on the 12th floor was brought $2.1 million ($1,586 psf) on March 4, after previously being bought for $2.8 million ($2,117 psf) in March 2013. This notes a loss of about $703,000 (25.1%), or an annualised loss of 2.1% over 13 years for the vendor.
Settling around Sampan Place in District 15, Riveredge is a 99-year leasehold condo with 135 units in a single 18-storey high rise. It offers a mix of 2- to four-bedroom residences and penthouses evaluating 980 to 3,208 sq ft. Finished in 2008, the apartment fronts the Geylang River and is within walking distance of Mountbatten MRT Station on the Circle Line and Katong Park MRT Terminal on the Thomson-East Coast Line.
The freehold apartment was completed in 1991, with 150 units spread out across five blocks. Situated on Trevor Crescent in District 11, it is next to Raffles Town Club, Singapore Chinese Girls’ School and St Joseph’s Institution. Stevens MRT Terminal on the Thomson-East Coast and Downtown Lines is close, while services at Chancery Court and Coronation Shopping Plaza are within a six-minute drive.
Union Square Residences City Developments Limited
Reflections at Keppel Bay is a freehold condo completed in 2011. It has 1,129 units across six skyscraper towers and 11 low-rise vacation home blocks. Telok Blangah MRT Station is a 10-minute walking away, with VivoCity and HarbourFront Center one stop away using the MRT.
A four-bedroom house at Trevose Park was the most rewarding condominium resale deal during the week of March 3 to 10. The ground floor, 2,562 sq ft unit brought $5.25 million, or $2,049 psf, on March 3. In the past, the unit was acquired for $1.82 million ($712 psf) in April 2001. This implies the seller reaped a document earnings of $3.43 million (187.8%), or an annualised growth of 4.3% over almost 25 years.
This is the second most profitable resale transaction for Riveredge. The record at the moment comes from a 1,884 sq ft four-bedroom unit that sold for $3.9 million ($2,070 psf) in October 2023. The seller, that purchased the unit for $1.82 million ($965 psf) in April 2008, earned a revenue of $2.08 million, or an annualised return of 5.1% over 15 years.
Meanwhile, Reflections at Keppel Bay documented the 2nd most unsuccessful condo resale deal of the week. A 1,550 sq ft, three-bedroom unit on the 36th floor altered hands for $2.9 million ($1,871 psf) on March 4, after being acquired for $3.58 million ($2,306 psf) in February 2011. Hence, the seller suffered a loss of more than $674,000 (18.9%) and an annualised losses of 1.4% on top of 15 years.
To date, this is one of the most lucrative resale purchase at Trevose Park, beating the previous document gain of $3.41 million, when a 2,788 sq ft four-bedder shifted hands for $5.2 million ($1,865 psf) in March 2024. The very same unit had been acquired for $1.79 million ($642 psf) in December 2001, converting to an annualised gain of 4.9% after 22 years.
Based upon caveats lodged, this transaction is the record loss at the growth. Before this, one of the most unlucrative transaction took place when a 648 sq ft one-bedroom unit was cost $1.25 million ($1,935 psf) in 2018, after being bought for $1.6 million ($2,475 psf) in January 2013. The seller made a loss of regarding $348,800, equating to an annualised loss of 4.6% in simply over 5 years.
On the other hand, the most unprofitable purchase at Reflections at Keppel Bay occurred when a 7,050 sq ft penthouse on the 40th level brought $11 million ($1,560 psf) in September 2021, after its preliminary acquisition at $17.98 million ($2,550 psf) in May 2007. The offer worked out to a $6.98 million loss, or an annualised loss of 3.4% over 14 years.
