Four-bedder at Trevose Park achieves record profit of $3.4 mil
The most unprofitable resell transaction throughout the week in evaluation was the sale of a two-bedroom unit at Liberte. The 1,324 sq ft unit on the 12th floor was brought $2.1 million ($1,586 psf) on March 4, after formerly 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 seller.
Reflections at Keppel Bay is a freehold apartment finished in 2011. It has 1,129 units throughout 6 high-rise towers and 11 low-rise suite blocks. Telok Blangah MRT Terminal is a 10-minute walk away, with VivoCity and HarbourFront Center one stop distant via the MRT.
In the mean time, Reflections at Keppel Bay documented the 2nd most unsuccessful condominium resale purchase of the week. A 1,550 sq ft, three-bedroom unit on the 36th flooring changed 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 suffered a loss of more than $674,000 (18.9%) and an annualised losses of 1.4% over 15 years.
Based upon cautions lodged, this transaction is the record loss at the development. Prior to this, one of the most unlucrative deal took place when a 648 sq ft one-bedroom unit was cost $1.25 million ($1,935 psf) in 2018, after being purchased for $1.6 million ($2,475 psf) in January 2013. The dealer made a deficit of around $348,800, converting to an annualised loss of 4.6% in simply over 5 years.
Meanwhile, the most unprofitable transaction 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 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.
A four-bedroom house at Trevose Park was the most rewarding condominium 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. Previously, the unit was bought for $1.82 million ($712 psf) in April 2001. This suggests the seller enjoyed a document profit of $3.43 million (187.8%), or an annualised growth of 4.3% over nearly 25 years.
This is the second most valuable resale transaction for Riveredge. The record presently belongs to a 1,884 sq ft four-bedroom unit that sold for $3.9 million ($2,070 psf) in October 2023. The vendor, that purchased the unit for $1.82 million ($965 psf) in April 2008, netted an earnings of $2.08 million, or an annualised return of 5.1% accross 15 years.
The second-highest return during 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 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, hence reporting an earnings of $2.07 million (180.1%) and an annualised growth of 6.3% over 17 years.
Positioning around Sampan Place in District 15, Riveredge is a 99-year leasehold condo with 135 units in an one 18-storey high rise. It provides a mix of 2- to four-bedroom residences and penthouses measuring 980 to 3,208 sq ft. Finished in 2008, the apartment fronts the Geylang River and is inside walking range of Mountbatten MRT Terminal on the Circle Line and Katong Park MRT Station on the Thomson-East Coast Line.
To date, this is the most lucrative resale purchase at Trevose Park, defeating the previous record gain of $3.41 million, the minute 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 bought for $1.79 million ($642 psf) in December 2001, converting to an annualised gain of 4.9% after 22 years.
The freehold condominium 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’ Academy 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 in just a six-minute drive.
