Penthouse at Spring @ Katong reaps $2.06 mil profit
Robinson Suites is a freehold condo at 50 Robinson Roadway in the CBD in District 1. The property includes a single tower housing 167 units. Units comprise one- and two-bedroom apartments varying from 484 sq ft to 990 sq ft. There are even six penthouse units extending from 1,087 to 1,410 sq ft.
The best efficient condo resell sale in the course of the week of Jan 23 to 30 was the deal of a duplex penthouse at Spring @ Katong. The 1,679 sq ft, three-bedroom unit obtained $2.92 million ($1,739 psf) on Jan 23. The seller had bought the unit from the property 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.
Spring @ Katong is a real estate property development on Ceylon Roadway in District 15. The 52-unit development was finalized in 2006. It has two residential blocks consisting of 2- and three-bedroom units from 990 to 1,701 sq ft. The property development is in just walking proximity of the Marine Parade MRT Terminal on the Thomson-East Coast Line.
This is the most profitless resale purchase that has actually occurred at Robinson Suites to day, formed on records compiled on EdgeProp Study. It exceeds the previous entry losing of $944,000 made by the home seller of a 990 sq ft unit that yielded $1.83 million ($1,846 psf) in March 2023.
The unit sold on Jan 29 is the initial condo at Robinson Suites to shift hands from last September when a 614 sq ft unit yielded $1.45 million ($2,363 psf).
Found in Area 9, RiverGate is a freehold venture that was finished in 2009. It has 545 units around three 43-storey blocks. Units consist of a mix of two- to four-bedroom homes measuring between 1,023 and 3,918 sq ft.
The Landmark Condo Chin Swee Road
This is the first resell filed at RiverGate to mark this year. in 2023, the condo viewed 5 units change hands, all of which were efficient transactions. The units, measuring between 1,539 and 2,088 sq ft, were fetched in between $4.3 million and $5.75 million, or between $2,588 and $2,999 on a psf-price basis. The respective dealers generated returns stretching from $1.25 million to $2.56 million.
The 2nd most profitable condo resale transaction during the period in review happened at RiverGate. A four-bedroom unit computing 1,798 sq ft shifted hands for $5.05 million ($2,809 psf) on Jan 29. The seller, that acquired the unit for $3.27 million ($1,820 psf) in February 2010, earned a profit of near $1.78 million (54%) on the contract after possessing the condo for 14 years.
Meanwhile, the most unsuccessful condo reselling operation during the time frame in analysis was the transaction of an apartment at Robinson Suites. The two-bedroom unit spanning 936 sq ft was sold for $1.8 million ($1,922 psf) on Jan 29. It was bought by the vendor in May 2013 for $2.78 million ($2,972 psf). Thus, they earned a damage of about $984,000 (35%) after maintaining the place for almost 11 years.
This is one of the most highly profitable resale proceeding at Spring @ Katong to stage. It tops the prior log revenue of $1.24 million set last March when a 1,044 sq ft unit got $1.85 million ($1,772 psf).
