Four-bedder at Trevose Park achieves record profit of $3.4 mil
A four-bedroom apartment 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. Previously, 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 profit of 4.3% over almost 25 years.
Sitting along Sampan Place in District 15, Riveredge is a 99-year leasehold apartment with 135 units in an one 18-storey tower. It provides a mix of 2- to four-bedroom residences and penthouses measuring 980 to 3,208 sq ft. Completed 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.
Meanwhile, Reflections at Keppel Bay recorded the second most unprofitable condo resale deal 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 purchased for $3.58 million ($2,306 psf) in February 2011. Thus, the seller incurred a loss of more than $674,000 (18.9%) and an annualised defeat of 1.4% on top of 15 years.
Zyon Grand CDL & Mitsui Fudosan
Based upon cautions lodged, this deal is the record loss at the development. Before this, one of the most unprofitable transaction occurred when a 648 sq ft one-bedroom unit was cost $1.25 million ($1,935 psf) in 2018, after being bought for $1.6 million ($2,475 psf) in January 2013. The vendor made a loss of around $348,800, translating to an annualised loss of 4.6% in simply over five years.
The second-highest achievement throughout 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, hence reporting a profit of $2.07 million (180.1%) and an annualised growth of 6.3% over 17 years.
Meanwhile, the most unprofitable purchase at Reflections at Keppel Bay took place when a 7,050 sq ft penthouse on the 40th floor 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.
This is the 2nd most valuable resale purchase for Riveredge. The record at the moment 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 acquired 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.
The freehold apartment was finalized in 1991, with 150 units spread out across five blocks. Positioned on Trevor Crescent in District 11, it is close to Raffles Town Club, Singapore Chinese Girls’ University and St Joseph’s Institution. Stevens MRT Station on the Thomson-East Coast and Downtown Lines is across the street, while features at Chancery Court and Coronation Shopping Plaza are in just a six-minute drive.
Reflections at Keppel Bay is a freehold condo finished in 2011. It has 1,129 units around six skyscraper towers and 11 low-rise rental property blocks. Telok Blangah MRT Station is a 10-minute walk away, with VivoCity and HarbourFront Center one stop away through the MRT.
To date, this is the most profitable resell deal at Trevose Park, beating the former record increase of $3.41 million, when a 2,788 sq ft four-bedder switched hands for $5.2 million ($1,865 psf) in March 2024. The exact same unit had actually been acquired for $1.79 million ($642 psf) in December 2001, converting to an annualised gain of 4.9% after 22 years.
The most worthless resale transaction during 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 cost $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 concerning $703,000 (25.1%), or an annualised loss of 2.1% over 13 years for the seller.
