Penthouse at Spring @ Katong reaps $2.06 mil profit

The most profitable apartment resale sale in the course of 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 yielded $2.92 million ($1,739 psf) on Jan 23. The seller had already purchased the unit directly from the developer for around $865,000 ($515 psf) in January 2005. As a result, they earned a profit of $2.055 million (238%) after holding the unit for 19 years.

Robinson Suites is a freehold condo at 50 Robinson Road in the CBD in District 1. The development consists of an one high rise housing 167 condos. Units consist of one- and two-bedroom condos varying from 484 sq ft to 990 sq ft. There are additionally six penthouse units ranging from 1,087 to 1,410 sq ft.

In the meantime, the most unsuccessful condo reselling transactions during the period in analysis was the sale of a condo at Robinson Suites. The two-bedroom unit covering 936 sq ft was fetched $1.8 million ($1,922 psf) on Jan 29. It was bought by the seller in May 2013 for $2.78 million ($2,972 psf). Thus, they netted a damage of close to $984,000 (35%) after maintaining the place for just about 11 years.

This is the initial resale reported at RiverGate to date this year. in 2023, the apartment observed 5 units turn hands, all of which were worthwhile transactions. The units, assessing in between 1,539 and 2,088 sq ft, were yielded between $4.3 million and $5.75 million, or between $2,588 and $2,999 on a psf-price basis. The respective dealers created incomes going from $1.25 million to $2.56 million.

The Hill @ One North Singapore

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

Spring @ Katong is a real estate development on Ceylon Roadway in District 15. The 52-unit development was finalized in 2006. It has two non commercial blocks including 2- and three-bedroom units from 990 to 1,701 sq ft. The development is inside walking distance of the Marine Parade MRT Terminal on the Thomson-East Coast Line.

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

This is one of the most unprofitable resale deal that has occurred at Robinson Suites to date, based on data collected on EdgeProp Research study. It overtakes the previous report losing of $944,000 made by the dealer of a 990 sq ft unit that brought $1.83 million ($1,846 psf) in March 2023.

Situated in District 9, RiverGate is an estate property that was completed in 2009. It offers 545 units around three 43-storey blocks. Units comprise a mix of two- to four-bedroom apartments figuring in between 1,023 and 3,918 sq ft.

The 2nd most profitable condo resale proceeding in the course of the time in evaluation happened 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, who acquired the unit for $3.27 million ($1,820 psf) in February 2010, netted a gain of about $1.78 million (54%) on the dealing after having the residence for 14 years.

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