Four-bedder at Trevose Park achieves record profit of $3.4 mil

The second-highest gain 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 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 an earnings of $2.07 million (180.1%) and an annualised gain of 6.3% over 17 years.

This is the 2nd most valuable resale deal for Riveredge. The record currently comes from 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, earned an earnings of $2.08 million, or an annualised gain of 5.1% accross 15 years.

Positioning around Sampan Place in District 15, Riveredge is a 99-year leasehold condo with 135 units in a solo 18-storey tower. It offers a mix of two- to four-bedroom apartments and penthouses measuring 980 to 3,208 sq ft. Completed in 2008, the condominium fronts the Geylang River and is inside walking range of Mountbatten MRT Terminal on the Circle Line and Katong Park MRT Stop on the Thomson-East Coast Line.

To date, this is the most lucrative resale purchase at Trevose Park, defeating the previous document growth of $3.41 million, when a 2,788 sq ft four-bedder switched controls for $5.2 million ($1,865 psf) in March 2024. The very same unit had been purchased for $1.79 million ($642 psf) in December 2001, translating to an annualised growth of 4.9% after 22 years.

A four-bedroom flat at Trevose Park was the most profitable condo resale transaction 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 means the vendor gained a record revenue of $3.43 million (187.8%), or an annualised gain of 4.3% over virtually 25 years.

Based on caveats lodged, this transaction is the record loss at the advancement. Prior to this, one of the most unlucrative 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 seller made a deficit of regarding $348,800, translating to an annualised loss of 4.6% in simply over five years.

On the other hand, the most unprofitable purchase 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 deal worked out to a $6.98 million loss, or an annualised loss of 3.4% over 14 years.

On the other hand, Reflections at Keppel Bay documented the 2nd most unprofitable condominium resale purchase 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 acquired for $3.58 million ($2,306 psf) in February 2011. Thus, the vendor suffered a loss of more than $674,000 (18.9%) and an annualised loss of 1.4% on top of 15 years.

The most unlucrative resell purchase during 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 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.

Tembusu Grand City Developments Ltd & MCL Land

Reflections at Keppel Bay is a freehold condominium completed in 2011. It has 1,129 units throughout 6 high-rise towers and 11 low-rise vacation home blocks. Telok Blangah MRT Terminal is a 10-minute walk away, with VivoCity and HarbourFront Facility one stop distant using the MRT.

The freehold condominium was completed 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’ University 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.