Penthouse at Spring @ Katong reaps $2.06 mil profit
The unit sold on Jan 29 is the very first flat at Robinson Suites to shift hands ever since last September when a 614 sq ft unit yielded $1.45 million ($2,363 psf).
The best profitable condo resale sale over the week of Jan 23 to 30 was the deal of a twin 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 acquired the unit via the builder for approximately $865,000 ($515 psf) in January 2005. As a result, they made a profit of $2.055 million (238%) after securing the unit for 19 years.
Spring @ Katong is an estate development on Ceylon Road in District 15. The 52-unit project was finished in 2006. It has 2 residential blocks containing two- and three-bedroom units from 990 to 1,701 sq ft. The property development is inside walking range of the Marine Parade MRT Station on the Thomson-East Coast Line.
The second most successful condo reselling transaction during the duration in review took place at RiverGate. A four-bedroom unit measuring 1,798 sq ft switched 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, earned a gain of near $1.78 million (54%) on the contract after owning the condo for 14 years.
This is the most unlucrative resale purchase that has happened at Robinson Suites to date, based on files compiled on EdgeProp Research study. It exceeds the previous entry loss of $944,000 made by the dealer of a 990 sq ft unit that obtained $1.83 million ($1,846 psf) in March 2023.
This is the first resale reported at RiverGate to mark this year. in 2023, the condominium saw five units shift hands, every one of which were profitable sales. The units, determining between 1,539 and 2,088 sq ft, were yielded 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 reaching from $1.25 million to $2.56 million.
This is one of the most highly profitable resale exchange at Spring @ Katong to stage. It defeats the prior log earnings of $1.24 million set last March when a 1,044 sq ft unit yielded $1.85 million ($1,772 psf).
Robinson Suites is a freehold apartment at 50 Robinson Roadway in the CBD in District 1. The development consists of an one high rise real estate 167 condos. Units comprise one- and two-bedroom flats ranging from 484 sq ft to 990 sq ft. There are even 6 penthouse units ranging from 1,087 to 1,410 sq ft.
Found in Area 9, RiverGate is an estate project that was carried out in 2009. It offers 545 units around 3 43-storey blocks. Units comprise a mix of 2- to four-bedroom apartments measuring in between 1,023 and 3,918 sq ft.
Meanwhile, one of the most unprofitable condo reselling transactions throughout the period in evaluation was the deal of a flat at Robinson Suites. The two-bedroom unit extending 936 sq ft was sold for $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). Hence, they earned a reduction of about $984,000 (35%) after storing the place for almost 11 years.