Four-bedder at Trevose Park achieves record profit of $3.4 mil
The second-highest return in the course of the week in evaluation originated 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 reporting an earnings of $2.07 million (180.1%) and an annualised gain of 6.3% over 17 years.
The freehold apartment was finished in 1991, with 150 units spread across five blocks. Situated on Trevor Crescent in District 11, it is nearby to Raffles Town Club, Singapore Chinese Girls’ Academy and St Joseph’s Institution. Stevens MRT Stop on the Thomson-East Coast and Downtown Lines is close, while services at Chancery Court and Coronation Shopping Plaza are within a six-minute drive.
A four-bedroom house at Trevose Park was one of the most rewarding condominium resale purchase 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 means the seller gained a document revenue of $3.43 million (187.8%), or an annualised profit of 4.3% over almost 25 years.
On the other hand, one of the most unprofitable purchase at Reflections at Keppel Bay occurred when a 7,050 sq ft penthouse on the 40th level brought $11 million ($1,560 psf) in September 2021, after its preliminary acquisition 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.
To day, this is one of the most lucrative resale purchase at Trevose Park, beating the former record increase 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 same unit had been acquired for $1.79 million ($642 psf) in December 2001, converting to an annualised growth of 4.9% after 22 years.
Reflections at Keppel Bay is a freehold apartment completed in 2011. It has 1,129 units throughout 6 high-rise towers and 11 low-rise rental property blocks. Telok Blangah MRT Stop is a 10-minute walk away, with VivoCity and HarbourFront Centre one stop afar via the MRT.
The most worthless resell deal throughout the week in assessment was the sale of a two-bedroom unit at Liberte. The 1,324 sq ft unit on the 12th level was sold for $2.1 million ($1,586 psf) on March 4, after previously being purchased 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.
Based on caveats lodged, this deal is the record loss at the advancement. Before this, the most unlucrative deal happened 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 seller made a deficit of regarding $348,800, converting to an annualised loss of 4.6% in just over five years.
Positioning along Sampan Place in District 15, Riveredge is a 99-year leasehold apartment with 135 units in a solo 18-storey tower. It provides a mix of two- to four-bedroom flats and penthouses evaluating 980 to 3,208 sq ft. Finished in 2008, the condominium fronts the Geylang River and is within walking proximity of Mountbatten MRT Station on the Circle Line and Katong Park MRT Station on the Thomson-East Coast Line.
On the other hand, Reflections at Keppel Bay recorded the 2nd most unprofitable condo resale purchase 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 acquired for $3.58 million ($2,306 psf) in February 2011. Therefore, the vendor accumulated a loss of greater than $674,000 (18.9%) and an annualised loss of 1.4% over 15 years.
This is the second 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 purchased the unit for $1.82 million ($965 psf) in April 2008, earned a profit of $2.08 million, or an annualised gain of 5.1% over 15 years.
