Penthouse at Spring @ Katong reaps $2.06 mil profit

This is the most unprofitable resale purchase that has actually occurred at Robinson Suites to date, based on files compiled on EdgeProp Research study. It surpasses the previous track record losing of $944,000 set up by the seller of a 990 sq ft unit that yielded $1.83 million ($1,846 psf) in March 2023.

The unit offered on Jan 29 is the first apartment at Robinson Suites to switch hands from last September when a 614 sq ft unit obtained $1.45 million ($2,363 psf).

Robinson Suites is a freehold apartment at 50 Robinson Road in the CBD in District 1. The property development consists of an one tower housing 167 apartments. Units comprise one- and two-bedroom condos varying from 484 sq ft to 990 sq ft. There are in addition six penthouse units extending from 1,087 to 1,410 sq ft.

Tembusu Grand condominium

Spring @ Katong is a real estate property development on Ceylon Roadway in District 15. The 52-unit development was finished in 2006. It has two residential blocks containing 2- and three-bedroom units from 990 to 1,701 sq ft. The development is in just walking range of the Marine Parade MRT Station on the Thomson-East Coast Line.

Meanwhile, one of the most unlucrative apartment reselling sale during the period in review 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 seller in May 2013 for $2.78 million ($2,972 psf). Therefore, they brought in a reduction of close to $984,000 (35%) after storing the apartment for nearly 11 years.

The best efficient condo resell deal 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 yielded $2.92 million ($1,739 psf) on Jan 23. The seller had already bought the unit directly from the property developer for about $865,000 ($515 psf) in January 2005. Hence, they realized of $2.055 million (238%) after holding the unit for 19 years.

The 2nd most profitable condominium resale transaction throughout the period in evaluation occurred at RiverGate. A four-bedroom unit measuring 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, netted a profit of about $1.78 million (54%) on the dealing after having the residence for 14 years.

Located in Area 9, RiverGate is a freehold plan that was carried out in 2009. It has 545 units around three 43-storey blocks. Units comprise a mix of two- to four-bedroom residences figuring in between 1,023 and 3,918 sq ft.

This is the initial resell filed at RiverGate to date this year. in 2023, the condominium found 5 units switch hands, each one of which were cost-effective operations. The units, measuring in between 1,539 and 2,088 sq ft, were fetched between $4.3 million and $5.75 million, or in between $2,588 and $2,999 on a psf-price basis. The respective home sellers made incomes stretching from $1.25 million to $2.56 million.

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

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