Four-bedder at Trevose Park achieves record profit of $3.4 mil
Sitting along Sampan Place in District 15, Riveredge is a 99-year leasehold condo with 135 units in a solo 18-storey high rise. It provides a mix of 2- to four-bedroom residences and penthouses measuring 980 to 3,208 sq ft. Finished in 2008, the condo fronts the Geylang River and is inside walking distance of Mountbatten MRT Terminal on the Circle Line and Katong Park MRT Terminal on the Thomson-East Coast Line.
The second-highest achievement during 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 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, thus recording a profit of $2.07 million (180.1%) and an annualised growth of 6.3% over 17 years.
A four-bedroom apartment at Trevose Park was the most profitable condo 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. In the past, the unit was bought for $1.82 million ($712 psf) in April 2001. This means the seller enjoyed a document profit of $3.43 million (187.8%), or an annualised profit of 4.3% over almost 25 years.
The most worthless resell purchase throughout the week in evaluation was the sale of a two-bedroom unit at Liberte. The 1,324 sq ft unit on the 12th ground was sold for $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 concerning $703,000 (25.1%), or an annualised loss of 2.1% over 13 years for the seller.
To date, this is one of the most profitable resell purchase at Trevose Park, defeating the former record growth of $3.41 million, when a 2,788 sq ft four-bedder switched hands for $5.2 million ($1,865 psf) in March 2024. The 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.
This is the second most rewarding resale deal 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 seller, who acquired the unit for $1.82 million ($965 psf) in April 2008, earned an earnings of $2.08 million, or an annualised yield of 5.1% accross 15 years.
Reflections at Keppel Bay is a freehold condominium completed in 2011. It has 1,129 units around 6 high-rise towers and 11 low-rise villa blocks. Telok Blangah MRT Stop is a 10-minute walk away, with VivoCity and HarbourFront Center one stop distant via the MRT.
On the other hand, one of the most unprofitable 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 preliminary 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.
Based on cautions lodged, this deal is the record loss at the advancement. Before this, the most unprofitable arrangement took place when a 648 sq ft one-bedroom unit was fetched $1.25 million ($1,935 psf) in 2018, after being purchased for $1.6 million ($2,475 psf) in January 2013. The vendor made a deficit of around $348,800, equating to an annualised loss of 4.6% in simply over five years.
On the other hand, Reflections at Keppel Bay documented the second most unprofitable condo unit resale deal 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. Thus, the seller accumulated a deficit of more than $674,000 (18.9%) and an annualised defeat of 1.4% more than 15 years.
The freehold apartment was finalized in 1991, with 150 units spread across five blocks. Positioned on Trevor Crescent in District 11, it is next to Raffles Town Club, Singapore Chinese Girls’ Academy and St Joseph’s Institution. Stevens MRT Station on the Thomson-East Coast and Downtown Lines is close, while amenities at Chancery Court and Coronation Shopping Plaza are in just a six-minute drive.
