Four-bedder at Trevose Park achieves record profit of $3.4 mil
The freehold condominium was completed in 1991, with 150 units spread out across five blocks. Placed on Trevor Crescent in District 11, it is adjacent to Raffles Town Club, Singapore Chinese Girls’ University and St Joseph’s Institution. Stevens MRT Terminal on the Thomson-East Coast and Downtown Lines is close, while services at Chancery Court and Coronation Shopping Plaza are in just a six-minute drive.
The second-highest achievement throughout the week in evaluation 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.
Sitting near Sampan Place in District 15, Riveredge is a 99-year leasehold apartment with 135 units in an one 18-storey high rise. It provides a mix of two- to four-bedroom flats and penthouses evaluating 980 to 3,208 sq ft. Finished in 2008, the apartment fronts the Geylang River and is within walking proximity of Mountbatten MRT Stop on the Circle Line and Katong Park MRT Stop on the Thomson-East Coast Line.
To day, this is one of the most successful resell transaction at Trevose Park, defeating the last record 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 gain of 4.9% after 22 years.
A four-bedroom flat at Trevose Park was one of the most profitable 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 bought for $1.82 million ($712 psf) in April 2001. This indicates the vendor enjoyed a record profit of $3.43 million (187.8%), or an annualised profit of 4.3% over nearly 25 years.
Reflections at Keppel Bay is a freehold condo completed in 2011. It has 1,129 units throughout 6 skyscraper towers and 11 low-rise villa blocks. Telok Blangah MRT Terminal is a 10-minute walking away, with VivoCity and HarbourFront Centre one stop afar using the MRT.
In the mean time, Reflections at Keppel Bay documented the 2nd most unsuccessful residence resale transaction of the week. A 1,550 sq ft, three-bedroom unit on the 36th floor changed hands for $2.9 million ($1,871 psf) on March 4, after being bought for $3.58 million ($2,306 psf) in February 2011. Hence, the seller accumulated a deficit of more than $674,000 (18.9%) and an annualised defeat of 1.4% more than 15 years.
Meanwhile, the most unlucrative transaction at Reflections at Keppel Bay happened when a 7,050 sq ft penthouse on the 40th level fetched $11 million ($1,560 psf) in September 2021, after its initial purchase 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.
One of the most worthless 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 floor was brought $2.1 million ($1,586 psf) on March 4, after formerly being bought for $2.8 million ($2,117 psf) in March 2013. This notes a loss of concerning $703,000 (25.1%), or an annualised loss of 2.1% over 13 years for the seller.
Based upon cautions lodged, this deal is the record loss at the advancement. Before this, the most unprofitable arrangement 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 seller made a deficit of around $348,800, translating to an annualised loss of 4.6% in just over five years.
This is the 2nd most rewarding resale transaction for Riveredge. The record currently 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, profited a profit of $2.08 million, or an annualised return of 5.1% accross 15 years.
