Four-bedder at Trevose Park achieves record profit of $3.4 mil
The most worthless resell deal during the week in review was the sale of a two-bedroom unit at Liberte. The 1,324 sq ft unit on the 12th level was yielded $2.1 million ($1,586 psf) on March 4, after formerly being acquired 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.
A four-bedroom residence at Trevose Park was the most rewarding condominium resale transaction during 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. In the past, the unit was bought for $1.82 million ($712 psf) in April 2001. This implies the vendor enjoyed a record earnings of $3.43 million (187.8%), or an annualised growth of 4.3% over almost 25 years.
Meanwhile, one of the most unprofitable purchase at Reflections at Keppel Bay happened when a 7,050 sq ft penthouse on the 40th level fetched $11 million ($1,560 psf) in September 2021, after its preliminary purchase 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.
Based upon cautions lodged, this purchase is the record loss at the advancement. Prior to this, one of the most unlucrative offer happened when a 648 sq ft one-bedroom unit was sold for $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 five years.
Sitting near Sampan Place in District 15, Riveredge is a 99-year leasehold condominium 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. Completed in 2008, the condo fronts the Geylang River and is inside walking range of Mountbatten MRT Station on the Circle Line and Katong Park MRT Terminal on the Thomson-East Coast Line.
The second-highest return 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 a revenue of $2.07 million (180.1%) and an annualised gain of 6.3% over 17 years.
To date, this is one of the most rewarding resell transaction at Trevose Park, defeating the last document gain of $3.41 million, the moment a 2,788 sq ft four-bedder shifted controls for $5.2 million ($1,865 psf) in March 2024. The very same unit had actually been acquired for $1.79 million ($642 psf) in December 2001, converting to an annualised gain of 4.9% after 22 years.
The freehold condo was completed in 1991, with 150 units spread out across 5 blocks. Situated on Trevor Crescent in District 11, it is nearby to Raffles Town Club, Singapore Chinese Girls’ School and St Joseph’s Institution. Stevens MRT Stop on the Thomson-East Coast and Downtown Lines is across the street, while amenities at Chancery Court and Coronation Shopping Plaza are in just a six-minute drive.
Reflections at Keppel Bay is a freehold apartment finished in 2011. It has 1,129 units across 6 skyscraper towers and 11 low-rise suite blocks. Telok Blangah MRT Stop is a 10-minute walk away, with VivoCity and HarbourFront Facility one stop distant using the MRT.
On the other hand, Reflections at Keppel Bay recorded the second most unlucrative residence resale transaction of the week. A 1,550 sq ft, three-bedroom unit on the 36th flooring altered hands for $2.9 million ($1,871 psf) on March 4, after being acquired for $3.58 million ($2,306 psf) in February 2011. Therefore, the vendor incurred a loss of greater than $674,000 (18.9%) and an annualised losses of 1.4% over 15 years.
This is the second most rewarding resale purchase for Riveredge. The record presently comes from a 1,884 sq ft four-bedroom unit that cost $3.9 million ($2,070 psf) in October 2023. The seller, who acquired the unit for $1.82 million ($965 psf) in April 2008, netted an earnings of $2.08 million, or an annualised profit of 5.1% around 15 years.
