Four-bedder at Trevose Park achieves record profit of $3.4 mil
The second-highest return in the course of the week in review 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, thus documenting an earnings of $2.07 million (180.1%) and an annualised growth of 6.3% over 17 years.
Reflections at Keppel Bay is a freehold apartment completed in 2011. It has 1,129 units across six 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 afar through the MRT.
To date, this is one of the most profitable resell purchase at Trevose Park, defeating the previous document gain of $3.41 million, when a 2,788 sq ft four-bedder changed 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, translating to an annualised growth of 4.9% after 22 years.
A four-bedroom flat 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 brought $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 seller reaped a record earnings of $3.43 million (187.8%), or an annualised gain of 4.3% over virtually 25 years.
Based upon cautions lodged, this deal is the record loss at the advancement. Before this, the most unlucrative deal occurred when a 648 sq ft one-bedroom unit was fetched $1.25 million ($1,935 psf) in 2018, after being bought for $1.6 million ($2,475 psf) in January 2013. The seller made a deficit of regarding $348,800, translating to an annualised loss of 4.6% in just over 5 years.
On the other hand, one of the most unprofitable transaction at Reflections at Keppel Bay happened when a 7,050 sq ft penthouse on the 40th level brought $11 million ($1,560 psf) in September 2021, after its initial acquisition 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.
This is the 2nd most rewarding resale transaction for Riveredge. The record at the moment belongs to a 1,884 sq ft four-bedroom unit that cost $3.9 million ($2,070 psf) in October 2023. The seller, who bought the unit for $1.82 million ($965 psf) in April 2008, realized a revenue of $2.08 million, or an annualised yield of 5.1% accross 15 years.
Tengah Garden Residences condominium
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 flooring was sold for $2.1 million ($1,586 psf) on March 4, after formerly 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.
Meanwhile, Reflections at Keppel Bay recorded the 2nd most unsuccessful condominium resale transaction of the week. A 1,550 sq ft, three-bedroom unit on the 36th floor transformed hands for $2.9 million ($1,871 psf) on March 4, after being bought for $3.58 million ($2,306 psf) in February 2011. Therefore, the seller accumulated a deficit of greater than $674,000 (18.9%) and an annualised losses of 1.4% more than 15 years.
The freehold condo was finalized in 1991, with 150 units spread out across five blocks. Placed on Trevor Crescent in District 11, it is close to Raffles Town Club, Singapore Chinese Girls’ School and St Joseph’s Institution. Stevens MRT Terminal on the Thomson-East Coast and Downtown Lines is close, while facilities at Chancery Court and Coronation Shopping Plaza are within a six-minute drive.
Positioning near Sampan Place in District 15, Riveredge is a 99-year leasehold apartment with 135 units in a solo 18-storey high rise. It gives a mix of two- to four-bedroom apartments and penthouses measuring 980 to 3,208 sq ft. Finished in 2008, the condominium fronts the Geylang River and is within walking range of Mountbatten MRT Station on the Circle Line and Katong Park MRT Terminal on the Thomson-East Coast Line.
