Penthouse at Spring @ Katong reaps $2.06 mil profit
The second most successful condo resale deal throughout the duration in assessment took place at RiverGate. A four-bedroom unit estimating 1,798 sq ft switched hands for $5.05 million ($2,809 psf) on Jan 29. The seller, that acquired the unit for $3.27 million ($1,820 psf) in February 2010, profited a growth of close to $1.78 million (54%) on the transfer after possessing the residence for 14 years.
This is one of the most highly profitable resale proceeding at Spring @ Katong to stage. It defeats the past history profit of $1.24 million set last March when a 1,044 sq ft unit yielded $1.85 million ($1,772 psf).
Spring @ Katong is a real estate property development on Ceylon Roadway in District 15. The 52-unit development was finalized in 2006. It has two non commercial blocks including two- and three-bedroom units from 990 to 1,701 sq ft. The development is in just walking distance of the Marine Parade MRT Station on the Thomson-East Coast Line.
This is the very first resale documented at RiverGate to mark this year. Last year, the condominium found five units change hands, every one of which were efficient transactions. The units, sizing up between 1,539 and 2,088 sq ft, were yielded between $4.3 million and $5.75 million, or in between $2,588 and $2,999 on a psf-price basis. The respective sellers generated gains going from $1.25 million to $2.56 million.
In the meantime, the most worthless apartment resale transactions during the time frame in review was the transaction of a condo at Robinson Suites. The two-bedroom unit extending 936 sq ft was cost $1.8 million ($1,922 psf) on Jan 29. It was bought by the vendor in May 2013 for $2.78 million ($2,972 psf). Hence, they got a reduction of about $984,000 (35%) after storing the apartment for almost 11 years.
The unit marketed on Jan 29 is the first condo at Robinson Suites to replace hands from last September when a 614 sq ft unit fetched $1.45 million ($2,363 psf).
Found in Area 9, RiverGate is a property venture that was carried out in 2009. It offers 545 units around three 43-storey blocks. Units consist of a mix of 2- to four-bedroom residences measuring in between 1,023 and 3,918 sq ft.
This is one of the most unprofitable resale transaction that has actually happened at Robinson Suites to day, based on files compiled on EdgeProp Research. It overtakes the previous record losing of $944,000 made by the home seller of a 990 sq ft unit that brought $1.83 million ($1,846 psf) in March 2023.
One of the most successful condo resale deal in the course of the week of Jan 23 to 30 was the transaction of a duplex penthouse at Spring @ Katong. The 1,679 sq ft, three-bedroom unit obtained $2.92 million ($1,739 psf) on Jan 23. The vendor had acquired the unit via the developer for around $865,000 ($515 psf) in January 2005. Hence, they earned a profit of $2.055 million (238%) after keeping the unit for 19 years.
Robinson Suites is a freehold apartment at 50 Robinson Road in the CBD in District 1. The property development contains an one tower real estate 167 condominiums. Units comprise one- and two-bedroom apartments ranging from 484 sq ft to 990 sq ft. There are also six penthouse units going from 1,087 to 1,410 sq ft.
