Four-bedder at Trevose Park achieves record profit of $3.4 mil
Based upon cautions lodged, this deal is the record loss at the advancement. Before this, the most unprofitable deal occurred 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 deficit of around $348,800, equating to an annualised loss of 4.6% in simply over 5 years.
Sitting near Sampan Place in District 15, Riveredge is a 99-year leasehold condominium with 135 units in a solitary 18-storey high rise. It offers a mix of two- to four-bedroom residences and penthouses measuring 980 to 3,208 sq ft. Finished in 2008, the condo fronts the Geylang River and is inside walking proximity of Mountbatten MRT Terminal on the Circle Line and Katong Park MRT Terminal on the Thomson-East Coast Line.
One of the most unlucrative resell deal 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 sold for $2.1 million ($1,586 psf) on March 4, after formerly being acquired for $2.8 million ($2,117 psf) in March 2013. This marks a loss of concerning $703,000 (25.1%), or an annualised loss of 2.1% over 13 years for the seller.
To day, this is one of the most rewarding resale deal at Trevose Park, surpassing the last record increase of $3.41 million, the minute a 2,788 sq ft four-bedder changed hands for $5.2 million ($1,865 psf) in March 2024. The same unit had been acquired for $1.79 million ($642 psf) in December 2001, translating to an annualised growth of 4.9% after 22 years.
Meanwhile, Reflections at Keppel Bay documented the 2nd most unlucrative condo resale purchase of the week. A 1,550 sq ft, three-bedroom unit on the 36th floor changed hands for $2.9 million ($1,871 psf) on March 4, after being bought for $3.58 million ($2,306 psf) in February 2011. Therefore, the seller accumulated a loss of more than $674,000 (18.9%) and an annualised loss of 1.4% on top of 15 years.
The second-highest gain during 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 brought $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, therefore recording a profit of $2.07 million (180.1%) and an annualised gain of 6.3% over 17 years.
The freehold condominium was completed in 1991, with 150 units spread across 5 blocks. Positioned on Trevor Crescent in District 11, it is adjacent to Raffles Town Club, Singapore Chinese Girls’ University and St Joseph’s Institution. Stevens MRT Station 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.
This is the second most profitable resale deal for Riveredge. The record presently comes from a 1,884 sq ft four-bedroom unit that cost $3.9 million ($2,070 psf) in October 2023. The vendor, that purchased the unit for $1.82 million ($965 psf) in April 2008, netted a revenue of $2.08 million, or an annualised income of 5.1% over 15 years.
On the other hand, one of the most unprofitable transaction at Reflections at Keppel Bay happened when a 7,050 sq ft penthouse on the 40th floor fetched $11 million ($1,560 psf) in September 2021, after its preliminary purchase 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.
Reflections at Keppel Bay is a freehold condominium finished in 2011. It has 1,129 units across six high-rise towers and 11 low-rise rental property blocks. Telok Blangah MRT Station is a 10-minute walking away, with VivoCity and HarbourFront Facility one stop away through the MRT.
A four-bedroom house at Trevose Park was the most profitable condo resale purchase throughout the week of March 3 to 10. The ground floor, 2,562 sq ft unit fetched $5.25 million, or $2,049 psf, on March 3. In the past, the unit was purchased for $1.82 million ($712 psf) in April 2001. This implies the vendor enjoyed a document earnings of $3.43 million (187.8%), or an annualised gain of 4.3% over nearly 25 years.
