Four-bedder at Trevose Park achieves record profit of $3.4 mil
Settling near Sampan Place in District 15, Riveredge is a 99-year leasehold apartment with 135 units in an one 18-storey high rise. It gives a mix of 2- to four-bedroom residences and penthouses measuring 980 to 3,208 sq ft. Completed in 2008, the condominium fronts the Geylang River and is inside walking distance of Mountbatten MRT Terminal on the Circle Line and Katong Park MRT Terminal on the Thomson-East Coast Line.
Reflections at Keppel Bay is a freehold condo completed in 2011. It has 1,129 units around 6 high-rise towers and 11 low-rise villa blocks. Telok Blangah MRT Terminal is a 10-minute walking away, with VivoCity and HarbourFront Center one stop distant via the MRT.
The freehold apartment was finished in 1991, with 150 units spread out across 5 blocks. Placed on Trevor Crescent in District 11, it is close to Raffles Town Club, Singapore Chinese Girls’ University and St Joseph’s Institution. Stevens MRT Stop on the Thomson-East Coast and Downtown Lines is nearby, while amenities at Chancery Court and Coronation Shopping Plaza are in just a six-minute drive.
To day, this is the most lucrative resell transaction at Trevose Park, beating the previous document growth of $3.41 million, the moment a 2,788 sq ft four-bedder changed controls for $5.2 million ($1,865 psf) in March 2024. The same unit had been bought for $1.79 million ($642 psf) in December 2001, translating to an annualised growth of 4.9% after 22 years.
On the other hand, one of the most unlucrative transaction at Reflections at Keppel Bay occurred 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.
Based on cautions lodged, this deal is the record loss at the growth. Prior to this, one of the most unprofitable deal happened 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 vendor made a loss of regarding $348,800, translating to an annualised loss of 4.6% in simply over five years.
Meanwhile, Reflections at Keppel Bay documented the 2nd most unlucrative condominium resale deal of the week. A 1,550 sq ft, three-bedroom unit on the 36th flooring transformed hands for $2.9 million ($1,871 psf) on March 4, after being acquired for $3.58 million ($2,306 psf) in February 2011. Hence, the vendor suffered a loss of greater than $674,000 (18.9%) and an annualised loss of 1.4% over 15 years.
A four-bedroom house at Trevose Park was one of the most rewarding apartment resale purchase 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. In the past, the unit was bought for $1.82 million ($712 psf) in April 2001. This means the seller enjoyed a record earnings of $3.43 million (187.8%), or an annualised gain of 4.3% over virtually 25 years.
The second-highest gain during the week in evaluation came 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 documenting a profit of $2.07 million (180.1%) and an annualised gain of 6.3% over 17 years.
One of the most unlucrative resale 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 level was sold for $2.1 million ($1,586 psf) on March 4, after previously being bought 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 vendor.
This is the second 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 vendor, who acquired the unit for $1.82 million ($965 psf) in April 2008, netted a profit of $2.08 million, or an annualised return of 5.1% around 15 years.
