Penthouse at Spring @ Katong reaps $2.06 mil profit

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

The second most rewarding condominium resale transaction in the course of the duration in evaluation happened at RiverGate. A four-bedroom unit estimating 1,798 sq ft shifted 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 around $1.78 million (54%) on the contract after possessing the apartment for 14 years.

This is the first resell recorded at RiverGate to mark this year. in 2023, the condo observed five units switch hands, every one of which were efficient sales. The units, determining in 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 made returns stretching from $1.25 million to $2.56 million.

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

On the other hand, one of the most unprofitable condominium reselling operation throughout the period in assessment was the transaction of a residence at Robinson Suites. The two-bedroom unit extending 936 sq ft was cost $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). Therefore, they netted a reduction of around $984,000 (35%) after maintaining the apartment for roughly 11 years.

Sky Eden condominium

Robinson Suites is a freehold condo at 50 Robinson Roadway in the CBD in District 1. The property contains a solo tower property 167 condos. Units consist of one- and two-bedroom condos ranging from 484 sq ft to 990 sq ft. There are additionally six penthouse units going from 1,087 to 1,410 sq ft.

The most efficient apartment resale sale over 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 brought $2.92 million ($1,739 psf) on Jan 23. The dealer had already bought the unit via the builder for about $865,000 ($515 psf) in January 2005. As a result, they earned a profit of $2.055 million (238%) after securing the unit for 19 years.

This is one of the most profitless resale purchase that has recently occurred at Robinson Suites to day, formed on files collected on EdgeProp Research study. It overtakes the previous entry loss 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.

Located in Area 9, RiverGate is a freehold property that was carried out in 2009. It has 545 units throughout 3 43-storey blocks. Units make up a mix of two- to four-bedroom residences figuring in between 1,023 and 3,918 sq ft.

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

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