Four-bedder at Trevose Park achieves record profit of $3.4 mil
A four-bedroom house at Trevose Park was one of the most profitable condominium 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. In the past, the unit was acquired for $1.82 million ($712 psf) in April 2001. This suggests the seller reaped a document revenue of $3.43 million (187.8%), or an annualised gain of 4.3% over almost 25 years.
The freehold condo was finalized in 1991, with 150 units spread across 5 blocks. Situated on Trevor Crescent in District 11, it is adjacent 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 nearby, while features at Chancery Court and Coronation Shopping Plaza are within a six-minute drive.
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 vendor, that purchased the unit for $1.82 million ($965 psf) in April 2008, earned a revenue of $2.08 million, or an annualised profit of 5.1% around 15 years.
The second-highest return in the course of 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 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, hence reporting a revenue of $2.07 million (180.1%) and an annualised gain of 6.3% over 17 years.
Reflections at Keppel Bay is a freehold condo completed in 2011. It has 1,129 units across six skyscraper towers and 11 low-rise villa blocks. Telok Blangah MRT Terminal is a 10-minute walking away, with VivoCity and HarbourFront Center one stop away through the MRT.
To date, this is the most profitable resell purchase at Trevose Park, defeating the last record increase 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 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.
Positioning near Sampan Place in District 15, Riveredge is a 99-year leasehold condominium with 135 units in a solo 18-storey tower. It provides a mix of 2- to four-bedroom residences and penthouses evaluating 980 to 3,208 sq ft. Completed in 2008, the condo fronts the Geylang River and is within walking proximity of Mountbatten MRT Terminal on the Circle Line and Katong Park MRT Terminal on the Thomson-East Coast Line.
Based upon cautions lodged, this deal is the record loss at the advancement. Prior to this, the most unprofitable deal took place when a 648 sq ft one-bedroom unit was sold for $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 deficit of around $348,800, converting to an annualised loss of 4.6% in simply over 5 years.
On the other hand, the most unprofitable transaction at Reflections at Keppel Bay occurred when a 7,050 sq ft penthouse on the 40th level brought $11 million ($1,560 psf) in September 2021, after its preliminary 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.
The most worthless resale purchase throughout the week in assessment was the sale of a two-bedroom unit at Liberte. The 1,324 sq ft unit on the 12th flooring 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 notes a loss of about $703,000 (25.1%), or an annualised loss of 2.1% over 13 years for the vendor.
In the mean time, Reflections at Keppel Bay documented the 2nd most unprofitable condo 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 purchased for $3.58 million ($2,306 psf) in February 2011. Hence, the seller incurred a deficit of more than $674,000 (18.9%) and an annualised defeat of 1.4% more than 15 years.
