Four-bedder at Trevose Park achieves record profit of $3.4 mil
The freehold condominium was completed in 1991, with 150 units spread across five blocks. Positioned on Trevor Crescent in District 11, it is close to Raffles Town Club, Singapore Chinese Girls’ Academy and St Joseph’s Institution. Stevens MRT Terminal on the Thomson-East Coast and Downtown Lines is across the street, while services at Chancery Court and Coronation Shopping Plaza are in just a six-minute drive.
Based on cautions lodged, this deal is the record loss at the development. Prior to this, one of the most unprofitable transaction occurred 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 dealer made a loss of about $348,800, equating to an annualised loss of 4.6% in just over 5 years.
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.
Meanwhile, Reflections at Keppel Bay documented the 2nd most unlucrative condo resale purchase 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. Hence, the vendor accumulated a deficit of more than $674,000 (18.9%) and an annualised loss of 1.4% over 15 years.
A four-bedroom flat at Trevose Park was the most profitable condominium 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. Formerly, the unit was bought for $1.82 million ($712 psf) in April 2001. This implies the seller reaped a record revenue of $3.43 million (187.8%), or an annualised gain of 4.3% over almost 25 years.
This is the 2nd most rewarding resale transaction for Riveredge. The record presently comes from a 1,884 sq ft four-bedroom unit that cost $3.9 million ($2,070 psf) in October 2023. The seller, who bought the unit for $1.82 million ($965 psf) in April 2008, netted an earnings of $2.08 million, or an annualised gain of 5.1% accross 15 years.
Meanwhile, the most unlucrative deal at Reflections at Keppel Bay occurred 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.
Reflections at Keppel Bay is a freehold condo finished in 2011. It has 1,129 units throughout six high-rise towers and 11 low-rise vacation home blocks. Telok Blangah MRT Stop is a 10-minute walking away, with VivoCity and HarbourFront Facility one stop away via the MRT.
To date, this is the most rewarding resale deal at Trevose Park, surpassing the previous document increase of $3.41 million, when a 2,788 sq ft four-bedder shifted hands for $5.2 million ($1,865 psf) in March 2024. The same unit had been bought for $1.79 million ($642 psf) in December 2001, translating to an annualised growth of 4.9% after 22 years.
One of 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 floor was yielded $2.1 million ($1,586 psf) on March 4, after formerly being purchased for $2.8 million ($2,117 psf) in March 2013. This marks a loss of about $703,000 (25.1%), or an annualised loss of 2.1% over 13 years for the vendor.
Positioning around Sampan Place in District 15, Riveredge is a 99-year leasehold apartment with 135 units in an one 18-storey high rise. It offers a mix of two- to four-bedroom apartments and penthouses measuring 980 to 3,208 sq ft. Completed in 2008, the condo fronts the Geylang River and is within walking proximity of Mountbatten MRT Terminal on the Circle Line and Katong Park MRT Terminal on the Thomson-East Coast Line.
