Penthouse at Spring @ Katong reaps $2.06 mil profit

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

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

Robinson Suites is a freehold condominium at 50 Robinson Roadway in the CBD in District 1. The property development contains a single tower property 167 units. Units consist of one- and two-bedroom flats ranging from 484 sq ft to 990 sq ft. There are also 6 penthouse units ranging from 1,087 to 1,410 sq ft.

This is the most unprofitable resale transaction that has taken place at Robinson Suites to day, based on records collected on EdgeProp Research. It surpasses the previous entry deficit of $944,000 gotten by the dealer of a 990 sq ft unit that fetched $1.83 million ($1,846 psf) in March 2023.

The unit sold on Jan 29 is the very first condo at Robinson Suites to change hands ever since last September when a 614 sq ft unit obtained $1.45 million ($2,363 psf).

TMW Maxwell condo

This is the very first resell reported at RiverGate to mark this year. Last year, the condominium observed 5 units turn hands, all of which were efficient transactions. The units, assessing in between 1,539 and 2,088 sq ft, were yielded in between $4.3 million and $5.75 million, or in between $2,588 and $2,999 on a psf-price basis. The respective sellers made incomes stretching from $1.25 million to $2.56 million.

The best valuable condominium resale sale in the course of the week of Jan 23 to 30 was the sale 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 bought the unit directly from the builder for about $865,000 ($515 psf) in January 2005. Hence, they earned a profit of $2.055 million (238%) after securing the unit for 19 years.

Meanwhile, the most unlucrative condo resale transactions during the duration in review was the transaction of an apartment at Robinson Suites. The two-bedroom unit spanning 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 earned a reduction of around $984,000 (35%) after maintaining the place for roughly 11 years.

The second most rewarding flat reselling transaction during the time in evaluation took place at RiverGate. A four-bedroom unit evaluating 1,798 sq ft changed hands for $5.05 million ($2,809 psf) on Jan 29. The seller, that purchased the unit for $3.27 million ($1,820 psf) in February 2010, accumulated a profit of about $1.78 million (54%) on the transfer after having the residence for 14 years.

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

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