Penthouse at Spring @ Katong reaps $2.06 mil profit

This is the very first resale recorded at RiverGate to date this year. in 2023, the apartment viewed five units shift hands, each one of which were efficient operations. The units, assessing 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 vendors generated gains ranging from $1.25 million to $2.56 million.

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

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

Kassia Condo Tripartite Developers Pte Ltd

Meanwhile, the most worthless condominium resale transaction during the duration in review was the deal of an apartment at Robinson Suites. The two-bedroom unit extending 936 sq ft was yielded $1.8 million ($1,922 psf) on Jan 29. It was purchased by the vendor in May 2013 for $2.78 million ($2,972 psf). Thus, they earned a decrease of about $984,000 (35%) after storing the apartment for almost 11 years.

The 2nd most successful condo reselling transaction throughout the duration in review occurred at RiverGate. A four-bedroom unit estimating 1,798 sq ft changed hands for $5.05 million ($2,809 psf) on Jan 29. The seller, who purchased the unit for $3.27 million ($1,820 psf) in February 2010, earned a profit of about $1.78 million (54%) on the dealing after having the residence for 14 years.

Situated in Area 9, RiverGate is a freehold venture that was carried out in 2009. It offers 545 units throughout 3 43-storey blocks. Units comprise a mix of 2- to four-bedroom apartments measuring in between 1,023 and 3,918 sq ft.

Spring @ Katong is a real estate development on Ceylon Road in District 15. The 52-unit project was finished in 2006. It has 2 housing blocks consisting of 2- and three-bedroom units from 990 to 1,701 sq ft. The property development is within walking proximity of the Marine Parade MRT Terminal on the Thomson-East Coast Line.

Robinson Suites is a freehold condominium at 50 Robinson Road in the CBD in District 1. The project consists of a solo tower real estate 167 apartments. Units consist of one- and two-bedroom condos ranging from 484 sq ft to 990 sq ft. There are even six penthouse units ranging from 1,087 to 1,410 sq ft.

The best profitable apartment reselling transaction over 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 obtained $2.92 million ($1,739 psf) on Jan 23. The vendor had purchased the unit from the developer for approximately $865,000 ($515 psf) in January 2005. Thus, they realized of $2.055 million (238%) after holding the unit for 19 years.

This is one of the most profitless resale deal that has recently occurred at Robinson Suites to day, based upon information gathered on EdgeProp Study. It overtakes the previous report deficit of $944,000 made by the home seller of a 990 sq ft unit that brought $1.83 million ($1,846 psf) in March 2023.

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