Penthouse at Spring @ Katong reaps $2.06 mil profit
Robinson Suites is a freehold condo at 50 Robinson Roadway in the CBD in District 1. The property contains a solo tower property 167 flats. Units consist of one- and two-bedroom condos varying from 484 sq ft to 990 sq ft. There are additionally 6 penthouse units ranging from 1,087 to 1,410 sq ft.
The 2nd most rewarding flat reselling deal in the course of the time in assessment 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 bought the unit for $3.27 million ($1,820 psf) in February 2010, netted a growth of about $1.78 million (54%) on the transaction after having the place for 14 years.
Spring @ Katong is a real estate property development on Ceylon Road in District 15. The 52-unit project was completed in 2006. It has 2 residential blocks including 2- and three-bedroom units from 990 to 1,701 sq ft. The project is in just walking range of the Marine Parade MRT Terminal on the Thomson-East Coast Line.
This is the most unprofitable resale transaction that has recently happened at Robinson Suites to day, based on information collected on EdgeProp Study. It overtakes the previous record deficit of $944,000 made by the dealer of a 990 sq ft unit that yielded $1.83 million ($1,846 psf) in March 2023.
This is the very first resell filed at RiverGate to mark this year. Last year, the apartment viewed five units turn hands, all of which were worthwhile operations. The units, sizing up in between 1,539 and 2,088 sq ft, were cost 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 created gains reaching from $1.25 million to $2.56 million.
The unit sold on Jan 29 is the initial condo at Robinson Suites to change hands ever since last September when a 614 sq ft unit brought $1.45 million ($2,363 psf).
This is one of the most profitable resell proceeding at Spring @ Katong to date. It beats the prior log profit of $1.24 million set last March when a 1,044 sq ft unit yielded $1.85 million ($1,772 psf).
On the other hand, one of the most unprofitable condominium reselling operation during the time frame in analysis was the deal of a residence at Robinson Suites. The two-bedroom unit spanning 936 sq ft was cost $1.8 million ($1,922 psf) on Jan 29. It was bought by the vendor in May 2013 for $2.78 million ($2,972 psf). Hence, they netted a damage of near $984,000 (35%) after maintaining the condominium for roughly 11 years.
Situated in Area 9, RiverGate is a freehold property that was carried out in 2009. It offers 545 units across three 43-storey blocks. Units make up a mix of 2- to four-bedroom flats figuring between 1,023 and 3,918 sq ft.
The best efficient condo resale sale during the week of Jan 23 to 30 was the transaction 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 dealer had already acquired the unit directly 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.
