Four-bedder at Trevose Park achieves record profit of $3.4 mil
A four-bedroom residence at Trevose Park was the most profitable condominium resale transaction during the week of March 3 to 10. The ground floor, 2,562 sq ft unit fetched $5.25 million, or $2,049 psf, on March 3. Previously, the unit was bought for $1.82 million ($712 psf) in April 2001. This means the vendor enjoyed a record profit of $3.43 million (187.8%), or an annualised gain of 4.3% over nearly 25 years.
The second-highest return 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 fetched $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 gain of 6.3% over 17 years.
The freehold condo was finalized in 1991, with 150 units spread across five blocks. Placed on Trevor Crescent in District 11, it is close to Raffles Town Club, Singapore Chinese Girls’ School and St Joseph’s Institution. Stevens MRT Station on the Thomson-East Coast and Downtown Lines is across the street, while features at Chancery Court and Coronation Shopping Plaza are in just a six-minute drive.
Lentor Gardens Residences price
In the mean time, Reflections at Keppel Bay documented the second most unsuccessful condo resale deal 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 bought 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% over 15 years.
This is the 2nd 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, that bought the unit for $1.82 million ($965 psf) in April 2008, profited a revenue of $2.08 million, or an annualised return of 5.1% around 15 years.
Reflections at Keppel Bay is a freehold apartment finished in 2011. It has 1,129 units across six high-rise towers and 11 low-rise suite blocks. Telok Blangah MRT Stop is a 10-minute walking away, with VivoCity and HarbourFront Center one stop away via the MRT.
Settling along Sampan Place in District 15, Riveredge is a 99-year leasehold condo with 135 units in a solitary 18-storey high rise. It provides a mix of 2- to four-bedroom residences and penthouses measuring 980 to 3,208 sq ft. Completed in 2008, the apartment fronts the Geylang River and is within walking distance of Mountbatten MRT Station on the Circle Line and Katong Park MRT Terminal on the Thomson-East Coast Line.
Based upon cautions lodged, this transaction is the record loss at the development. Before this, one of the most unprofitable transaction occurred 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 around $348,800, converting to an annualised loss of 4.6% in simply over five years.
To day, this is the most profitable resell transaction at Trevose Park, beating the last document growth of $3.41 million, when a 2,788 sq ft four-bedder changed controls for $5.2 million ($1,865 psf) in March 2024. The very same unit had actually been bought for $1.79 million ($642 psf) in December 2001, translating to an annualised growth of 4.9% after 22 years.
Meanwhile, the most unlucrative transaction at Reflections at Keppel Bay happened when a 7,050 sq ft penthouse on the 40th floor fetched $11 million ($1,560 psf) in September 2021, after its initial purchase 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.
One of the most unlucrative resale transaction during the week in evaluation was the sale of a two-bedroom unit at Liberte. The 1,324 sq ft unit on the 12th floor was yielded $2.1 million ($1,586 psf) on March 4, after previously being acquired 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.
