Four-bedder at Trevose Park achieves record profit of $3.4 mil
Ask Buddy
A four-bedroom apartment at Trevose Park was the most profitable condo 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. Previously, the unit was purchased for $1.82 million ($712 psf) in April 2001. This means the seller reaped a record profit of $3.43 million (187.8%), or an annualised gain of 4.3% over nearly 25 years.
The seller at Trevose Park reaped a record profit of $3.43 million from the sale of a 2,562 sq ft four-bedder on March 3 (Photo: Google Street)
To date, this is the most profitable resale transaction at Trevose Park, beating the previous record gain of $3.41 million, when a 2,788 sq ft four-bedder changed hands for $5.2 million ($1,865 psf) in March 2024. The same unit had been purchased for $1.79 million ($642 psf) in December 2001, translating to an annualised gain of 4.9% after 22 years.
The freehold condo was completed in 1991, with 150 units spread across five blocks. Situated on Trevor Crescent in District 11, it is close to Raffles Town Club, Singapore Chinese Girls’ School and St Joseph’s Institution. Stevens MRT Station on the Thomson-East Coast and Downtown Lines is across the street, while amenities at Chancery Court and Coronation Shopping Plaza are within a six-minute drive.
The second-highest gain during the week in review came from the sale of a four-bedroom unit at Riveredge. The 1,604 sq ft unit on the 10th floor fetched $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, thus recording a profit of $2.07 million (180.1%) and an annualised gain of 6.3% over 17 years.
This is the second most profitable resale transaction for Riveredge. The record currently belongs to a 1,884 sq ft four-bedroom unit that sold for $3.9 million ($2,070 psf) in October 2023. The seller, who purchased the unit for $1.82 million ($965 psf) in April 2008, netted a profit of $2.08 million, or an annualised gain of 5.1% over 15 years.
Sitting along Sampan Place in District 15, Riveredge is a 99-year leasehold condo with 135 units in a single 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 condo fronts the Geylang River and is within walking distance of Mountbatten MRT Station on the Circle Line and Katong Park MRT Station on the Thomson-East Coast Line.
The most unprofitable resale transaction during the week in review was the sale of a two-bedroom unit at Liberte. The 1,324 sq ft unit on the 12th floor 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 about $703,000 (25.1%), or an annualised loss of 2.1% over 13 years for the seller.
Based on caveats lodged, this transaction is the record loss at the development. Prior to this, the most unprofitable deal 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 seller made a loss of about $348,800, translating to an annualised loss of 4.6% in just over five years.
Meanwhile, Reflections at Keppel Bay recorded the second most unprofitable condo resale transaction 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 purchased for $3.58 million ($2,306 psf) in February 2011. Thus, the seller incurred a loss of more than $674,000 (18.9%) and an annualised loss of 1.4% over 15 years.
A three-bedroom unit from Reflections at Keppel Bay, which was sold for $2.8 million on March 6, marks the second most unprofitable condo transaction this week (Photo: Samuel Isaac Chua/EdgeProp Singapore)
Meanwhile, the most unprofitable transaction 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 initial 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 completed in 2011. It has 1,129 units across six high-rise towers and 11 low-rise villa blocks. Telok Blangah MRT Station is a 10-minute walk away, with VivoCity and HarbourFront Centre one stop away via the MRT.
Ask Buddy
Follow Us
Property updates, 24/7.
Subscribe to Newsletter
Market insights, delivered weekly.
Top Articles
Search