Four-bedder at Trevose Park achieves record profit of $3.4 mil
The second-highest gain throughout the week in evaluation 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, therefore recording an earnings of $2.07 million (180.1%) and an annualised gain of 6.3% over 17 years.
A four-bedroom house at Trevose Park was the most profitable condominium 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. Previously, the unit was bought for $1.82 million ($712 psf) in April 2001. This means the vendor gained a record profit of $3.43 million (187.8%), or an annualised gain of 4.3% over almost 25 years.
To date, this is one of the most profitable resale deal at Trevose Park, surpassing the previous document growth of $3.41 million, when a 2,788 sq ft four-bedder changed controls for $5.2 million ($1,865 psf) in March 2024. The exact same unit had actually been purchased for $1.79 million ($642 psf) in December 2001, converting to an annualised growth of 4.9% after 22 years.
The freehold apartment was completed in 1991, with 150 units spread out across five blocks. Positioned on Trevor Crescent in District 11, it is next to Raffles Town Club, Singapore Chinese Girls’ Academy and St Joseph’s Institution. Stevens MRT Terminal on the Thomson-East Coast and Downtown Lines is nearby, while services at Chancery Court and Coronation Shopping Plaza are in just a six-minute drive.
Positioning 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 flats and penthouses evaluating 980 to 3,208 sq ft. Finished in 2008, the apartment fronts the Geylang River and is within walking distance of Mountbatten MRT Stop on the Circle Line and Katong Park MRT Terminal on the Thomson-East Coast Line.
Meanwhile, 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 preliminary purchase at $17.98 million ($2,550 psf) in May 2007. The deal worked out to a $6.98 million loss, or an annualised loss of 3.4% over 14 years.
Based upon cautions lodged, this deal is the record loss at the growth. Before this, one of the most unlucrative 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 dealer made a deficit of around $348,800, translating to an annualised loss of 4.6% in simply over 5 years.
One of the most unprofitable resale purchase during the week in evaluation was the sale of a two-bedroom unit at Liberte. The 1,324 sq ft unit on the 12th level was brought $2.1 million ($1,586 psf) on March 4, after formerly being bought 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 vendor.
This is the second most rewarding resale purchase for Riveredge. The record currently belongs to a 1,884 sq ft four-bedroom unit that sold for $3.9 million ($2,070 psf) in October 2023. The seller, that acquired the unit for $1.82 million ($965 psf) in April 2008, profited a revenue of $2.08 million, or an annualised yield of 5.1% accross 15 years.
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 Center one stop distant via the MRT.
On the other hand, Reflections at Keppel Bay documented the 2nd most unlucrative residence resale deal 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 vendor incurred a loss of greater than $674,000 (18.9%) and an annualised losses of 1.4% more than 15 years.
