Penthouse at Spring @ Katong reaps $2.06 mil profit

This is the first resell documented at RiverGate to date this year. Last year, the condominium saw five units switch hands, every one of which were profitable sales. The units, measuring between 1,539 and 2,088 sq ft, were sold for in between $4.3 million and $5.75 million, or in between $2,588 and $2,999 on a psf-price basis. The respective sellers made returns reaching from $1.25 million to $2.56 million.

The second most successful flat reselling transaction throughout the time in review took place at RiverGate. A four-bedroom unit measuring 1,798 sq ft switched hands for $5.05 million ($2,809 psf) on Jan 29. The seller, that purchased the unit for $3.27 million ($1,820 psf) in February 2010, accumulated a growth of close to $1.78 million (54%) on the contract after owning the apartment for 14 years.

Newport Residences Anson Road

The most efficient condominium resell transaction in the course of the week of Jan 23 to 30 was the deal of a twin penthouse at Spring @ Katong. The 1,679 sq ft, three-bedroom unit fetched $2.92 million ($1,739 psf) on Jan 23. The vendor had already purchased the unit directly from the developer for about $865,000 ($515 psf) in January 2005. Thus, they realized of $2.055 million (238%) after holding the unit for 19 years.

Robinson Suites is a freehold apartment at 50 Robinson Road in the CBD in District 1. The project includes a solo tower real estate 167 flats. Units comprise one- and two-bedroom residences varying from 484 sq ft to 990 sq ft. There are even 6 penthouse units going from 1,087 to 1,410 sq ft.

The unit offered on Jan 29 is the very first residence at Robinson Suites to change hands since last September when a 614 sq ft unit yielded $1.45 million ($2,363 psf).

Located in Area 9, RiverGate is an estate plan that was finished in 2009. It has 545 units across 3 43-storey blocks. Units comprise a mix of two- to four-bedroom flats figuring in between 1,023 and 3,918 sq ft.

This is the most highly profitable resale transaction at Spring @ Katong to stage. It beats the prior history profit of $1.24 million set last March when a 1,044 sq ft unit brought $1.85 million ($1,772 psf).

Spring @ Katong is a real estate development on Ceylon Road in District 15. The 52-unit development was completed in 2006. It has 2 residence blocks containing 2- and three-bedroom units from 990 to 1,701 sq ft. The development is in just walking proximity of the Marine Parade MRT Terminal on the Thomson-East Coast Line.

This is the most profitless resale deal that has happened at Robinson Suites to day, based upon data collected on EdgeProp Research. It overtakes the previous report loss of $944,000 made by the home seller of a 990 sq ft unit that obtained $1.83 million ($1,846 psf) in March 2023.

Meanwhile, the most unsuccessful condo resale transactions during the period in evaluation was the deal of an apartment at Robinson Suites. The two-bedroom unit extending 936 sq ft was yielded $1.8 million ($1,922 psf) on Jan 29. It was purchased by the vendor in May 2013 for $2.78 million ($2,972 psf). For this reason, they got a decrease of about $984,000 (35%) after storing the apartment for nearly 11 years.

error: Content is protected !!