Four-bedder at Trevose Park achieves record profit of $3.4 mil
Based upon caveats lodged, this deal is the record loss at the development. Prior to this, one of the most unprofitable arrangement happened when a 648 sq ft one-bedroom unit was cost $1.25 million ($1,935 psf) in 2018, after being purchased for $1.6 million ($2,475 psf) in January 2013. The seller made a loss of around $348,800, translating to an annualised loss of 4.6% in just over 5 years.
The second-highest return in the course of the week in review 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 revenue of $2.07 million (180.1%) and an annualised gain of 6.3% over 17 years.
Settling around Sampan Place in District 15, Riveredge is a 99-year leasehold apartment with 135 units in an one 18-storey high rise. It offers a mix of 2- to four-bedroom apartments and penthouses measuring 980 to 3,208 sq ft. Completed in 2008, the condo fronts the Geylang River and is within walking distance of Mountbatten MRT Terminal on the Circle Line and Katong Park MRT Terminal on the Thomson-East Coast Line.
Reflections at Keppel Bay is a freehold apartment finished in 2011. It has 1,129 units throughout 6 high-rise towers and 11 low-rise rental property blocks. Telok Blangah MRT Station is a 10-minute walking away, with VivoCity and HarbourFront Centre one stop distant via the MRT.
A four-bedroom flat at Trevose Park was the most rewarding condo resale deal 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. Previously, the unit was bought for $1.82 million ($712 psf) in April 2001. This indicates the vendor gained a document profit of $3.43 million (187.8%), or an annualised gain of 4.3% over nearly 25 years.
This is the 2nd most rewarding resale purchase 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, netted a profit of $2.08 million, or an annualised gain of 5.1% accross 15 years.
One of the most unprofitable resale deal throughout the week in review was the sale of a two-bedroom unit at Liberte. The 1,324 sq ft unit on the 12th flooring was brought $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.
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 brought $11 million ($1,560 psf) in September 2021, after its initial 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.
On the other hand, Reflections at Keppel Bay documented the 2nd most unprofitable 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. Hence, the vendor incurred a loss of more than $674,000 (18.9%) and an annualised loss of 1.4% more than 15 years.
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’ University and St Joseph’s Institution. Stevens MRT Terminal on the Thomson-East Coast and Downtown Lines is close, while amenities at Chancery Court and Coronation Shopping Plaza are in just a six-minute drive.
To day, this is the most successful resale purchase at Trevose Park, defeating the previous document increase of $3.41 million, the minute a 2,788 sq ft four-bedder shifted 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, converting to an annualised growth of 4.9% after 22 years.
