Penthouse at Spring @ Katong reaps $2.06 mil profit
The most efficient condominium reselling transaction over the week of Jan 23 to 30 was the transaction of a twin penthouse at Spring @ Katong. The 1,679 sq ft, three-bedroom unit yielded $2.92 million ($1,739 psf) on Jan 23. The seller had bought the unit directly from the property developer for around $865,000 ($515 psf) in January 2005. Therefore, they realized of $2.055 million (238%) after holding the unit for 19 years.
This is the most profitable resale proceeding at Spring @ Katong to date. It defeats the prior history earnings of $1.24 million set last March when a 1,044 sq ft unit yielded $1.85 million ($1,772 psf).
The second most profitable condominium reselling transaction in the course of the time in evaluation took place at RiverGate. A four-bedroom unit estimating 1,798 sq ft shifted hands for $5.05 million ($2,809 psf) on Jan 29. The seller, who bought the unit for $3.27 million ($1,820 psf) in February 2010, accumulated a profit of near $1.78 million (54%) on the transaction after having the place for 14 years.
In the meantime, the most worthless condominium reselling transaction throughout the duration in review was the deal of a condo at Robinson Suites. The two-bedroom unit covering 936 sq ft was fetched $1.8 million ($1,922 psf) on Jan 29. It was bought by the vendor in May 2013 for $2.78 million ($2,972 psf). Hence, they got a loss of about $984,000 (35%) after holding the condo for almost 11 years.
This is the most profitless resale transaction that has recently taken place at Robinson Suites to day, formed on data compiled on EdgeProp Research. It beats the previous entry decrease of $944,000 made by the home seller of a 990 sq ft unit that fetched $1.83 million ($1,846 psf) in March 2023.
Robinson Suites is a freehold apartment at 50 Robinson Roadway in the CBD in District 1. The development contains a single high rise property 167 apartments. Units include one- and two-bedroom residences varying from 484 sq ft to 990 sq ft. There are also six penthouse units going from 1,087 to 1,410 sq ft.
Pinetree Hill showflat location
Spring @ Katong is a freehold development on Ceylon Roadway in District 15. The 52-unit property was finished in 2006. It has two residential blocks including two- and three-bedroom units from 990 to 1,701 sq ft. The project is within walking proximity of the Marine Parade MRT Station on the Thomson-East Coast Line.
Located in District 9, RiverGate is a property venture that was completed in 2009. It comes with 545 units around 3 43-storey blocks. Units consist of a mix of 2- to four-bedroom homes figuring in between 1,023 and 3,918 sq ft.
This is the very first resale recorded at RiverGate to date this year. Last year, the condo saw five units turn hands, all of which were cost-effective transactions. The units, assessing between 1,539 and 2,088 sq ft, were cost between $4.3 million and $5.75 million, or in between $2,588 and $2,999 on a psf-price basis. The respective sellers created profits reaching from $1.25 million to $2.56 million.
The unit sold on Jan 29 is the very first residence at Robinson Suites to change hands since last September when a 614 sq ft unit yielded $1.45 million ($2,363 psf).
