Penthouse at Spring @ Katong reaps $2.06 mil profit

Situated in District 9, RiverGate is a freehold venture that was completed in 2009. It has 545 units around three 43-storey blocks. Units comprise a mix of 2- to four-bedroom residences figuring between 1,023 and 3,918 sq ft.

This is the initial resell recorded at RiverGate to mark this year. Last year, the condo viewed five units change hands, every one of which were efficient transactions. The units, sizing up 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 vendors generated incomes stretching from $1.25 million to $2.56 million.

Robinson Suites is a freehold condominium at 50 Robinson Road in the CBD in District 1. The property development includes a single tower real estate 167 condos. Units comprise one- and two-bedroom condos ranging from 484 sq ft to 990 sq ft. There are in addition 6 penthouse units going from 1,087 to 1,410 sq ft.

Lentor Mansion Singapore

On the other hand, one of the most unsuccessful condominium reselling transactions throughout the duration in review was the sale of a condo at Robinson Suites. The two-bedroom unit extending 936 sq ft was yielded $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). Thus, they got a reduction of around $984,000 (35%) after storing the place for roughly 11 years.

The second most rewarding condominium reselling proceeding during the time in review occurred at RiverGate. A four-bedroom unit estimating 1,798 sq ft switched 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, profited a growth of near $1.78 million (54%) on the dealing after possessing the place for 14 years.

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

One of the most efficient condominium resale sale during the week of Jan 23 to 30 was the sale of a double penthouse at Spring @ Katong. The 1,679 sq ft, three-bedroom unit brought $2.92 million ($1,739 psf) on Jan 23. The seller had already bought the unit from the property developer for about $865,000 ($515 psf) in January 2005. Therefore, they made a profit of $2.055 million (238%) after securing the unit for 19 years.

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

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

This is one of the most profitless resale deal that has happened at Robinson Suites to day, based on records compiled on EdgeProp Research study. It surpasses the previous report losing of $944,000 set up by the dealer of a 990 sq ft unit that obtained $1.83 million ($1,846 psf) in March 2023.


error: Content is protected !!