Penthouse at Spring @ Katong reaps $2.06 mil profit
Spring @ Katong is a real estate property development on Ceylon Roadway in District 15. The 52-unit project was finalized in 2006. It has 2 residential blocks consisting of 2- and three-bedroom units from 990 to 1,701 sq ft. The property development is inside walking distance of the Marine Parade MRT Terminal on the Thomson-East Coast Line.
The best profitable apartment resale 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 vendor had already purchased the unit directly from the developer for approximately $865,000 ($515 psf) in January 2005. Hence, they realized of $2.055 million (238%) after holding the unit for 19 years.
The unit marketed on Jan 29 is the very first residence at Robinson Suites to shift hands ever since last September when a 614 sq ft unit brought $1.45 million ($2,363 psf).
Situated in District 9, RiverGate is a freehold plan that was finished in 2009. It offers 545 units across three 43-storey blocks. Units make up a mix of two- to four-bedroom homes figuring between 1,023 and 3,918 sq ft.
Meanwhile, the most unprofitable condo resale transactions during the period in analysis was the sale of a condo at Robinson Suites. The two-bedroom unit spanning 936 sq ft was fetched $1.8 million ($1,922 psf) on Jan 29. It was purchased by the seller in May 2013 for $2.78 million ($2,972 psf). For this reason, they netted a loss of near $984,000 (35%) after storing the condo for just about 11 years.
This is the first resale documented at RiverGate to mark this year. Last year, the condo found 5 units change hands, all of which were efficient sales. The units, measuring in between 1,539 and 2,088 sq ft, were yielded between $4.3 million and $5.75 million, or in between $2,588 and $2,999 on a psf-price basis. The respective vendors created gains reaching from $1.25 million to $2.56 million.
This is the most highly profitable resell proceeding at Spring @ Katong to date. It tops the previous record earnings of $1.24 million set last March when a 1,044 sq ft unit yielded $1.85 million ($1,772 psf).
This is the most unprofitable resale deal that has actually taken place at Robinson Suites to date, based upon records compiled on EdgeProp Study. It surpasses the previous record deficit of $944,000 set up by the dealer of a 990 sq ft unit that fetched $1.83 million ($1,846 psf) in March 2023.
Robinson Suites is a freehold condominium at 50 Robinson Roadway in the CBD in District 1. The property contains an one tower property 167 flats. Units include one- and two-bedroom residences ranging from 484 sq ft to 990 sq ft. There are additionally six penthouse units going from 1,087 to 1,410 sq ft.
The 2nd most rewarding flat reselling deal throughout the time in assessment happened at RiverGate. A four-bedroom unit measuring 1,798 sq ft switched hands for $5.05 million ($2,809 psf) on Jan 29. The seller, that purchased the unit for $3.27 million ($1,820 psf) in February 2010, profited a gain of about $1.78 million (54%) on the dealing after possessing the apartment for 14 years.
