Four-bedder at Trevose Park achieves record profit of $3.4 mil

A four-bedroom flat at Trevose Park was one of the most profitable condo resale deal throughout 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 bought for $1.82 million ($712 psf) in April 2001. This implies the vendor gained a record profit of $3.43 million (187.8%), or an annualised profit of 4.3% over virtually 25 years.

Based upon caveats lodged, this transaction is the record loss at the growth. Prior to this, one of the most unlucrative offer took place when a 648 sq ft one-bedroom unit was fetched $1.25 million ($1,935 psf) in 2018, after being bought for $1.6 million ($2,475 psf) in January 2013. The dealer made a loss of about $348,800, translating to an annualised loss of 4.6% in simply over 5 years.

Bloomsbury Residences Singapore

This is the 2nd most rewarding resale deal 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 seller, who bought the unit for $1.82 million ($965 psf) in April 2008, earned an earnings of $2.08 million, or an annualised gain of 5.1% over 15 years.

Reflections at Keppel Bay is a freehold apartment completed in 2011. It has 1,129 units around 6 skyscraper towers and 11 low-rise suite blocks. Telok Blangah MRT Terminal is a 10-minute walking away, with VivoCity and HarbourFront Center one stop away via the MRT.

To date, this is one of the most lucrative resell purchase at Trevose Park, surpassing the previous document gain of $3.41 million, when a 2,788 sq ft four-bedder switched controls for $5.2 million ($1,865 psf) in March 2024. The exact same unit had been purchased for $1.79 million ($642 psf) in December 2001, translating to an annualised gain of 4.9% after 22 years.

Sitting along Sampan Place in District 15, Riveredge is a 99-year leasehold condo with 135 units in a solitary 18-storey tower. It provides a mix of 2- to four-bedroom apartments and penthouses evaluating 980 to 3,208 sq ft. Completed in 2008, the condominium fronts the Geylang River and is inside walking range of Mountbatten MRT Station on the Circle Line and Katong Park MRT Terminal on the Thomson-East Coast Line.

The freehold condominium was finalized in 1991, with 150 units spread out across 5 blocks. Placed on Trevor Crescent in District 11, it is next 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 services at Chancery Court and Coronation Shopping Plaza are within a six-minute drive.

The second-highest achievement 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, therefore reporting a profit of $2.07 million (180.1%) and an annualised growth of 6.3% over 17 years.

One of the most worthless resale deal during 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 formerly 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.

On the other hand, 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 transformed hands for $2.9 million ($1,871 psf) on March 4, after being bought for $3.58 million ($2,306 psf) in February 2011. Therefore, the vendor accumulated a deficit of more than $674,000 (18.9%) and an annualised defeat of 1.4% on top of 15 years.

Meanwhile, one of the most unprofitable purchase at Reflections at Keppel Bay happened when a 7,050 sq ft penthouse on the 40th floor brought $11 million ($1,560 psf) in September 2021, after its first 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.