Four-bedder at Trevose Park achieves record profit of $3.4 mil
The second-highest return throughout the week in review came 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, thus recording a revenue of $2.07 million (180.1%) and an annualised growth of 6.3% over 17 years.
Meanwhile, Reflections at Keppel Bay recorded the 2nd most unprofitable condo resale transaction of the week. A 1,550 sq ft, three-bedroom unit on the 36th floor transformed hands for $2.9 million ($1,871 psf) on March 4, after being purchased for $3.58 million ($2,306 psf) in February 2011. Hence, the seller suffered a deficit of more than $674,000 (18.9%) and an annualised loss of 1.4% on top of 15 years.
A four-bedroom flat at Trevose Park was one of the most rewarding condo resale transaction throughout 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. Formerly, the unit was purchased for $1.82 million ($712 psf) in April 2001. This indicates the seller gained a document profit of $3.43 million (187.8%), or an annualised growth of 4.3% over almost 25 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 fetched $11 million ($1,560 psf) in September 2021, after its first 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.
To date, this is the most lucrative resale transaction at Trevose Park, defeating the last document growth of $3.41 million, when a 2,788 sq ft four-bedder switched hands for $5.2 million ($1,865 psf) in March 2024. The exact same unit had actually been bought for $1.79 million ($642 psf) in December 2001, translating to an annualised gain of 4.9% after 22 years.
Reflections at Keppel Bay is a freehold apartment finished in 2011. It has 1,129 units across six skyscraper towers and 11 low-rise suite blocks. Telok Blangah MRT Terminal is a 10-minute walking away, with VivoCity and HarbourFront Centre one stop away using the MRT.
The most unlucrative resale deal throughout the week in evaluation was the sale of a two-bedroom unit at Liberte. The 1,324 sq ft unit on the 12th flooring was cost $2.1 million ($1,586 psf) on March 4, after formerly being purchased for $2.8 million ($2,117 psf) in March 2013. This notes a loss of regarding $703,000 (25.1%), or an annualised loss of 2.1% over 13 years for the vendor.
The freehold condo was completed in 1991, with 150 units spread across five blocks. Situated on Trevor Crescent in District 11, it is adjacent 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 nearby, while amenities at Chancery Court and Coronation Shopping Plaza are in just a six-minute drive.
This is the second most rewarding resale transaction for Riveredge. The record at the moment belongs to a 1,884 sq ft four-bedroom unit that sold for $3.9 million ($2,070 psf) in October 2023. The vendor, that purchased the unit for $1.82 million ($965 psf) in April 2008, profited a profit of $2.08 million, or an annualised gain of 5.1% accross 15 years.
Positioning near Sampan Place in District 15, Riveredge is a 99-year leasehold condominium with 135 units in a solo 18-storey tower. It gives a mix of two- to four-bedroom flats and penthouses evaluating 980 to 3,208 sq ft. Completed in 2008, the condominium fronts the Geylang River and is within walking proximity of Mountbatten MRT Station on the Circle Line and Katong Park MRT Terminal on the Thomson-East Coast Line.
Based on caveats lodged, this transaction is the record loss at the development. Prior to this, one of the most unprofitable transaction took place 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 dealer made a deficit of regarding $348,800, translating to an annualised loss of 4.6% in simply over five years.
