Four-bedder at Trevose Park achieves record profit of $3.4 mil
One of the most unlucrative resell deal during the week in assessment 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 concerning $703,000 (25.1%), or an annualised loss of 2.1% over 13 years for the seller.
Sitting along Sampan Place in District 15, Riveredge is a 99-year leasehold condo with 135 units in a solitary 18-storey tower. It offers a mix of 2- to four-bedroom apartments and penthouses evaluating 980 to 3,208 sq ft. Completed in 2008, the condominium fronts the Geylang River and is within walking distance of Mountbatten MRT Terminal on the Circle Line and Katong Park MRT Stop on the Thomson-East Coast Line.
Reflections at Keppel Bay is a freehold condominium finished in 2011. It has 1,129 units throughout six skyscraper towers and 11 low-rise vacation home blocks. Telok Blangah MRT Terminal is a 10-minute walk away, with VivoCity and HarbourFront Centre one stop distant using the MRT.
On the other hand, the most unprofitable deal at Reflections at Keppel Bay took place when a 7,050 sq ft penthouse on the 40th level 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.
The second-highest gain 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, hence recording a revenue of $2.07 million (180.1%) and an annualised gain of 6.3% over 17 years.
This is the 2nd most profitable resale deal for Riveredge. The record presently comes from a 1,884 sq ft four-bedroom unit that sold for $3.9 million ($2,070 psf) in October 2023. The vendor, that bought the unit for $1.82 million ($965 psf) in April 2008, netted an earnings of $2.08 million, or an annualised gain of 5.1% accross 15 years.
To date, this is the most profitable resale deal at Trevose Park, surpassing the previous document growth of $3.41 million, the moment a 2,788 sq ft four-bedder switched hands for $5.2 million ($1,865 psf) in March 2024. The very same unit had been purchased for $1.79 million ($642 psf) in December 2001, converting to an annualised gain of 4.9% after 22 years.
On the other hand, Reflections at Keppel Bay recorded the second most unprofitable residence resale purchase of the week. A 1,550 sq ft, three-bedroom unit on the 36th floor altered hands for $2.9 million ($1,871 psf) on March 4, after being bought for $3.58 million ($2,306 psf) in February 2011. Thus, the vendor incurred a deficit of greater than $674,000 (18.9%) and an annualised losses of 1.4% on top of 15 years.
A four-bedroom flat at Trevose Park was the most rewarding condo 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. Formerly, the unit was acquired for $1.82 million ($712 psf) in April 2001. This implies the seller gained a document revenue of $3.43 million (187.8%), or an annualised profit of 4.3% over almost 25 years.
The freehold condominium was finalized in 1991, with 150 units spread out across five blocks. Situated on Trevor Crescent in District 11, it is adjacent 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 nearby, while services at Chancery Court and Coronation Shopping Plaza are within a six-minute drive.
Based upon cautions lodged, this transaction is the record loss at the development. Prior to this, the most unlucrative arrangement occurred 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 vendor made a deficit of regarding $348,800, converting to an annualised loss of 4.6% in just over 5 years.
