Four-bedder at Trevose Park achieves record profit of $3.4 mil
The freehold condo was finished in 1991, with 150 units spread out across five blocks. Placed on Trevor Crescent in District 11, it is next to Raffles Town Club, Singapore Chinese Girls’ Academy and St Joseph’s Institution. Stevens MRT Station on the Thomson-East Coast and Downtown Lines is across the street, while services at Chancery Court and Coronation Shopping Plaza are in just a six-minute drive.
On the other hand, one of the most unprofitable transaction at Reflections at Keppel Bay occurred when a 7,050 sq ft penthouse on the 40th floor brought $11 million ($1,560 psf) in September 2021, after its initial 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.
A four-bedroom residence at Trevose Park was one of the most profitable apartment resale transaction 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 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 gain of 4.3% over virtually 25 years.
The second-highest achievement during 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 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.
Reflections at Keppel Bay is a freehold apartment finished in 2011. It has 1,129 units across 6 high-rise towers and 11 low-rise villa blocks. Telok Blangah MRT Station is a 10-minute walk away, with VivoCity and HarbourFront Center one stop distant through the MRT.
On the other hand, Reflections at Keppel Bay recorded the 2nd most unlucrative condominium resale transaction 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 purchased for $3.58 million ($2,306 psf) in February 2011. Hence, the seller incurred a deficit of greater than $674,000 (18.9%) and an annualised losses of 1.4% over 15 years.
To day, this is the most successful resell purchase at Trevose Park, defeating the previous record gain of $3.41 million, the minute a 2,788 sq ft four-bedder shifted controls 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 growth of 4.9% after 22 years.
This is the 2nd most rewarding resale transaction for Riveredge. The record currently belongs to a 1,884 sq ft four-bedroom unit that cost $3.9 million ($2,070 psf) in October 2023. The vendor, that acquired the unit for $1.82 million ($965 psf) in April 2008, realized a profit of $2.08 million, or an annualised profit of 5.1% over 15 years.
Based on cautions lodged, this purchase is the record loss at the growth. Prior to this, one of the most unprofitable deal 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 vendor made a loss of regarding $348,800, converting to an annualised loss of 4.6% in just over five years.
Settling along Sampan Place in District 15, Riveredge is a 99-year leasehold apartment with 135 units in a single 18-storey tower. It provides a mix of 2- to four-bedroom apartments and penthouses measuring 980 to 3,208 sq ft. Finished in 2008, the condominium fronts the Geylang River and is inside walking distance of Mountbatten MRT Stop on the Circle Line and Katong Park MRT Terminal on the Thomson-East Coast Line.
One of the most unlucrative resale transaction throughout the week in evaluation was the sale of a two-bedroom unit at Liberte. The 1,324 sq ft unit on the 12th ground was yielded $2.1 million ($1,586 psf) on March 4, after formerly 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 seller.
