Penthouse at Spring @ Katong reaps $2.06 mil profit

The best valuable apartment reselling transaction during the week of Jan 23 to 30 was the deal of a twin penthouse at Spring @ Katong. The 1,679 sq ft, three-bedroom unit brought $2.92 million ($1,739 psf) on Jan 23. The vendor had already acquired the unit directly from the developer for approximately $865,000 ($515 psf) in January 2005. Thus, they made a profit of $2.055 million (238%) after holding the unit for 19 years.

This is the most highly profitable resale exchange at Spring @ Katong to day. It defeats the previous history revenue of $1.24 million set last March when a 1,044 sq ft unit brought $1.85 million ($1,772 psf).

Robinson Suites is a freehold apartment at 50 Robinson Roadway in the CBD in District 1. The property includes an one high rise real estate 167 units. Units include one- and two-bedroom apartments varying from 484 sq ft to 990 sq ft. There are in addition six penthouse units ranging from 1,087 to 1,410 sq ft.

The second most rewarding condo resale transaction in the course of the time in evaluation took place at RiverGate. A four-bedroom unit computing 1,798 sq ft shifted hands for $5.05 million ($2,809 psf) on Jan 29. The seller, that bought the unit for $3.27 million ($1,820 psf) in February 2010, accumulated a profit of close to $1.78 million (54%) on the dealing after possessing the place for 14 years.

Situated in District 9, RiverGate is an estate property that was carried out in 2009. It comes with 545 units across three 43-storey blocks. Units comprise a mix of two- to four-bedroom flats measuring in between 1,023 and 3,918 sq ft.

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This is the first resell documented at RiverGate to mark this year. in 2023, the apartment viewed five units change hands, all of which were efficient transactions. The units, sizing up in between 1,539 and 2,088 sq ft, were cost between $4.3 million and $5.75 million, or in between $2,588 and $2,999 on a psf-price basis. The respective home sellers created returns going from $1.25 million to $2.56 million.

On the other hand, the most unlucrative condo resale operation throughout the duration in analysis was the deal of a residence at Robinson Suites. The two-bedroom unit extending 936 sq ft was fetched $1.8 million ($1,922 psf) on Jan 29. It was bought by the seller in May 2013 for $2.78 million ($2,972 psf). For this reason, they netted a decrease of near $984,000 (35%) after maintaining the condominium for almost 11 years.

This is one of the most unlucrative resale deal that has recently occurred at Robinson Suites to day, formed on files compiled on EdgeProp Study. It beats the previous entry decrease of $944,000 set up by the dealer of a 990 sq ft unit that yielded $1.83 million ($1,846 psf) in March 2023.

Spring @ Katong is a freehold property development on Ceylon Roadway in District 15. The 52-unit project was completed in 2006. It has two non commercial blocks containing two- and three-bedroom units from 990 to 1,701 sq ft. The project is within walking proximity of the Marine Parade MRT Station on the Thomson-East Coast Line.

The unit marketed on Jan 29 is the first condo at Robinson Suites to change hands since last September when a 614 sq ft unit brought $1.45 million ($2,363 psf).

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