Four-bedder at Trevose Park achieves record profit of $3.4 mil
Sitting near Sampan Place in District 15, Riveredge is a 99-year leasehold condominium with 135 units in a single 18-storey tower. It offers a mix of two- to four-bedroom residences and penthouses evaluating 980 to 3,208 sq ft. Finished in 2008, the condo fronts the Geylang River and is inside walking distance of Mountbatten MRT Stop on the Circle Line and Katong Park MRT Stop on the Thomson-East Coast Line.
Reflections at Keppel Bay is a freehold condo completed in 2011. It has 1,129 units across 6 high-rise towers and 11 low-rise suite blocks. Telok Blangah MRT Stop is a 10-minute walking away, with VivoCity and HarbourFront Facility one stop away via the MRT.
A four-bedroom apartment at Trevose Park was one of the most rewarding condo resale transaction during 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. Formerly, the unit was purchased for $1.82 million ($712 psf) in April 2001. This indicates the vendor reaped a document revenue of $3.43 million (187.8%), or an annualised growth of 4.3% over nearly 25 years.
This is the 2nd most rewarding resale purchase for Riveredge. The record at the moment belongs to a 1,884 sq ft four-bedroom unit that sold for $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 profit of $2.08 million, or an annualised income of 5.1% over 15 years.
To date, this is one of the most rewarding resell transaction at Trevose Park, defeating the former document increase 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 exact same unit had actually been purchased for $1.79 million ($642 psf) in December 2001, translating to an annualised gain of 4.9% after 22 years.
On the other hand, Reflections at Keppel Bay documented the 2nd most unlucrative condo unit resale purchase of the week. A 1,550 sq ft, three-bedroom unit on the 36th floor altered hands for $2.9 million ($1,871 psf) on March 4, after being bought for $3.58 million ($2,306 psf) in February 2011. Hence, the seller accumulated a deficit of greater than $674,000 (18.9%) and an annualised defeat of 1.4% on top of 15 years.
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 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 reporting a profit of $2.07 million (180.1%) and an annualised growth of 6.3% over 17 years.
The freehold condominium was finalized in 1991, with 150 units spread across 5 blocks. Placed on Trevor Crescent in District 11, it is next 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 facilities at Chancery Court and Coronation Shopping Plaza are within a six-minute drive.
Meanwhile, the most unprofitable transaction at Reflections at Keppel Bay happened when a 7,050 sq ft penthouse on the 40th floor fetched $11 million ($1,560 psf) in September 2021, after its initial 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 caveats lodged, this transaction is the record loss at the development. Prior to this, one of the most unlucrative transaction occurred 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 seller made a deficit of about $348,800, converting to an annualised loss of 4.6% in just over five years.
One of the most unprofitable resell purchase throughout the week in review 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 purchased for $2.8 million ($2,117 psf) in March 2013. This marks a loss of about $703,000 (25.1%), or an annualised loss of 2.1% over 13 years for the vendor.
