Four-bedder at Trevose Park achieves record profit of $3.4 mil
The freehold apartment was finished in 1991, with 150 units spread across 5 blocks. Positioned on Trevor Crescent in District 11, it is adjacent 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 across the street, while facilities at Chancery Court and Coronation Shopping Plaza are within a six-minute drive.
On the other hand, Reflections at Keppel Bay documented the 2nd most unlucrative condo resale purchase of the week. A 1,550 sq ft, three-bedroom unit on the 36th flooring altered hands for $2.9 million ($1,871 psf) on March 4, after being acquired for $3.58 million ($2,306 psf) in February 2011. Thus, the seller incurred a deficit of more than $674,000 (18.9%) and an annualised loss of 1.4% on top of 15 years.
Meyer Blue UOL Group Limited & Singapore Land
Settling near Sampan Place in District 15, Riveredge is a 99-year leasehold condo with 135 units in a solitary 18-storey high rise. It gives a mix of 2- to four-bedroom apartments and penthouses evaluating 980 to 3,208 sq ft. Completed in 2008, the apartment fronts the Geylang River and is inside walking proximity of Mountbatten MRT Stop on the Circle Line and Katong Park MRT Station on the Thomson-East Coast Line.
The second-highest gain in the course of 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 recording a profit of $2.07 million (180.1%) and an annualised growth of 6.3% over 17 years.
This is the 2nd most valuable resale deal 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 seller, that bought the unit for $1.82 million ($965 psf) in April 2008, profited a revenue of $2.08 million, or an annualised gain of 5.1% accross 15 years.
To date, this is one of the most rewarding resale purchase at Trevose Park, beating the former document growth of $3.41 million, the minute 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 bought for $1.79 million ($642 psf) in December 2001, converting to an annualised gain of 4.9% after 22 years.
A four-bedroom apartment at Trevose Park was the most rewarding apartment resale purchase 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 purchased for $1.82 million ($712 psf) in April 2001. This suggests the vendor gained a document revenue of $3.43 million (187.8%), or an annualised profit of 4.3% over virtually 25 years.
The most unlucrative resell purchase 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 yielded $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 about $703,000 (25.1%), or an annualised loss of 2.1% over 13 years for the seller.
Based upon caveats lodged, this purchase is the record loss at the growth. Before this, one of the most unlucrative deal happened 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 vendor made a loss of about $348,800, converting to an annualised loss of 4.6% in just over 5 years.
On the other hand, the most unlucrative transaction at Reflections at Keppel Bay took place when a 7,050 sq ft penthouse on the 40th floor fetched $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.
Reflections at Keppel Bay is a freehold apartment finished in 2011. It has 1,129 units around 6 skyscraper towers and 11 low-rise vacation home blocks. Telok Blangah MRT Stop is a 10-minute walking away, with VivoCity and HarbourFront Center one stop away via the MRT.
