Four-bedder at Trevose Park achieves record profit of $3.4 mil
A four-bedroom flat at Trevose Park was one of the most profitable condo resale deal 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 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 growth of 4.3% over nearly 25 years.
The freehold condo was completed in 1991, with 150 units spread out across five blocks. Positioned on Trevor Crescent in District 11, it is adjacent to Raffles Town Club, Singapore Chinese Girls’ University 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.
One of the most unlucrative 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 ground was yielded $2.1 million ($1,586 psf) on March 4, after previously 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.
Based upon cautions lodged, this deal is the record loss at the advancement. Before this, one of the most unprofitable arrangement happened when a 648 sq ft one-bedroom unit was sold for $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 loss of regarding $348,800, translating to an annualised loss of 4.6% in simply over five years.
Meanwhile, one of the most unprofitable purchase 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 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.
Sitting around Sampan Place in District 15, Riveredge is a 99-year leasehold condo with 135 units in a solitary 18-storey tower. It provides a mix of two- to four-bedroom residences and penthouses evaluating 980 to 3,208 sq ft. Finished in 2008, the apartment fronts the Geylang River and is inside walking distance of Mountbatten MRT Station on the Circle Line and Katong Park MRT Stop on the Thomson-East Coast Line.
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 Station is a 10-minute walking away, with VivoCity and HarbourFront Center one stop afar via the MRT.
The second-highest achievement in the course of 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 brought $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, thus reporting a revenue of $2.07 million (180.1%) and an annualised gain of 6.3% over 17 years.
To date, this is the most successful resell transaction at Trevose Park, beating the previous record growth of $3.41 million, the minute a 2,788 sq ft four-bedder shifted hands for $5.2 million ($1,865 psf) in March 2024. The same unit had been bought for $1.79 million ($642 psf) in December 2001, translating to an annualised gain of 4.9% after 22 years.
In the mean time, Reflections at Keppel Bay documented the 2nd most unsuccessful condominium resale deal 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 purchased 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% more than 15 years.
Rivelle Tampines EC floor plan
This is the second most rewarding resale purchase 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 seller, that bought the unit for $1.82 million ($965 psf) in April 2008, profited a profit of $2.08 million, or an annualised gain of 5.1% accross 15 years.
