Penthouse at Spring @ Katong reaps $2.06 mil profit
The best valuable condo resell sale over the week of Jan 23 to 30 was the sale of a double penthouse at Spring @ Katong. The 1,679 sq ft, three-bedroom unit fetched $2.92 million ($1,739 psf) on Jan 23. The dealer had already purchased the unit from the developer for approximately $865,000 ($515 psf) in January 2005. Thus, they earned a profit of $2.055 million (238%) after securing the unit for 19 years.
Robinson Suites is a freehold condo at 50 Robinson Roadway in the CBD in District 1. The property includes an one high rise property 167 condos. Units include one- and two-bedroom flats varying from 484 sq ft to 990 sq ft. There are additionally six penthouse units extending from 1,087 to 1,410 sq ft.
This is the initial resale filed at RiverGate to mark this year. in 2023, the condominium viewed five units turn hands, each one of which were cost-effective sales. The units, determining between 1,539 and 2,088 sq ft, were yielded in between $4.3 million and $5.75 million, or between $2,588 and $2,999 on a psf-price basis. The respective dealers made gains ranging from $1.25 million to $2.56 million.
This is one of the most profitless resale deal that has recently occurred at Robinson Suites to day, based on data gathered on EdgeProp Research study. It overtakes the previous record deficit of $944,000 gotten by the seller of a 990 sq ft unit that brought $1.83 million ($1,846 psf) in March 2023.
Marina View Residences IOI Properties
Spring @ Katong is a freehold property development on Ceylon Roadway in District 15. The 52-unit property was completed in 2006. It has 2 residence blocks including 2- and three-bedroom units from 990 to 1,701 sq ft. The property development is within walking proximity of the Marine Parade MRT Terminal on the Thomson-East Coast Line.
The second most rewarding condominium resale deal during the duration in assessment took place at RiverGate. A four-bedroom unit evaluating 1,798 sq ft shifted hands for $5.05 million ($2,809 psf) on Jan 29. The seller, who purchased the unit for $3.27 million ($1,820 psf) in February 2010, earned a growth of close to $1.78 million (54%) on the dealing after having the residence for 14 years.
The unit marketed on Jan 29 is the first condo at Robinson Suites to shift hands since last September when a 614 sq ft unit yielded $1.45 million ($2,363 psf).
On the other hand, the most unprofitable condominium resale transactions during the period in analysis was the sale of a condo at Robinson Suites. The two-bedroom unit covering 936 sq ft was cost $1.8 million ($1,922 psf) on Jan 29. It was acquired by the vendor in May 2013 for $2.78 million ($2,972 psf). Hence, they got a decrease of near $984,000 (35%) after maintaining the condominium for just about 11 years.
Found in District 9, RiverGate is a freehold project that was finished in 2009. It has 545 units around 3 43-storey blocks. Units consist of a mix of two- to four-bedroom residences measuring between 1,023 and 3,918 sq ft.
This is the most highly profitable resale exchange at Spring @ Katong to date. It surpasses the prior record revenue of $1.24 million set last March when a 1,044 sq ft unit got $1.85 million ($1,772 psf).
