Penthouse at Spring @ Katong reaps $2.06 mil profit

This is the most worthwhile resell exchange at Spring @ Katong to stage. It beats the prior record revenue of $1.24 million set last March when a 1,044 sq ft unit got $1.85 million ($1,772 psf).

Spring @ Katong is an estate development on Ceylon Road in District 15. The 52-unit property was finalized in 2006. It has 2 residence blocks containing 2- and three-bedroom units from 990 to 1,701 sq ft. The property development is within walking distance of the Marine Parade MRT Station on the Thomson-East Coast Line.

The 2nd most profitable flat resale deal during the duration in assessment occurred at RiverGate. A four-bedroom unit evaluating 1,798 sq ft switched 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, profited a profit of about $1.78 million (54%) on the contract after owning the residence for 14 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 fetched $1.45 million ($2,363 psf).

Located in District 9, RiverGate is a freehold property that was finished in 2009. It has 545 units around 3 43-storey blocks. Units consist of a mix of 2- to four-bedroom residences estimating in between 1,023 and 3,918 sq ft.

Reserve Residences showflat location

One of the most valuable apartment resale transaction during 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 brought $2.92 million ($1,739 psf) on Jan 23. The dealer had bought the unit from the developer for about $865,000 ($515 psf) in January 2005. Therefore, they earned a profit of $2.055 million (238%) after keeping the unit for 19 years.

Robinson Suites is a freehold condominium at 50 Robinson Road in the CBD in District 1. The property contains a solo high rise housing 167 units. Units comprise one- and two-bedroom apartments ranging from 484 sq ft to 990 sq ft. There are in addition six penthouse units extending from 1,087 to 1,410 sq ft.

Meanwhile, the most unprofitable apartment resale operation throughout the duration in analysis was the sale of a residence at Robinson Suites. The two-bedroom unit extending 936 sq ft was cost $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). Thus, they netted a reduction of near $984,000 (35%) after storing the apartment for nearly 11 years.

This is the most profitless resale transaction that has actually taken place at Robinson Suites to day, based on files gathered on EdgeProp Research study. It exceeds the previous report decrease of $944,000 set up by the home seller of a 990 sq ft unit that obtained $1.83 million ($1,846 psf) in March 2023.

This is the very first resell documented at RiverGate to mark this year. Last year, the apartment viewed five units turn hands, each one of which were cost-effective sales. The units, sizing up in between 1,539 and 2,088 sq ft, were fetched in between $4.3 million and $5.75 million, or in between $2,588 and $2,999 on a psf-price basis. The respective dealers created incomes stretching from $1.25 million to $2.56 million.


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