Penthouse at Spring @ Katong reaps $2.06 mil profit

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

This is the very first resale filed at RiverGate to mark this year. in 2023, the condo found 5 units switch hands, every one of which were profitable transactions. The units, measuring 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 dealers generated incomes ranging from $1.25 million to $2.56 million.

This is the most unprofitable resale transaction that has recently occurred at Robinson Suites to date, based on files gathered on EdgeProp Study. It overtakes the previous record decrease of $944,000 made by the dealer of a 990 sq ft unit that brought $1.83 million ($1,846 psf) in March 2023.

Located in Area 9, RiverGate is an estate project that was carried out in 2009. It offers 545 units throughout 3 43-storey blocks. Units consist of a mix of two- to four-bedroom residences estimating in between 1,023 and 3,918 sq ft.

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

One of the most successful apartment reselling deal during the week of Jan 23 to 30 was the deal 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 seller had purchased the unit via the property 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.

Meanwhile, one of the most worthless apartment reselling sale throughout the period in evaluation was the sale of a condo at Robinson Suites. The two-bedroom unit extending 936 sq ft was fetched $1.8 million ($1,922 psf) on Jan 29. It was acquired by the seller in May 2013 for $2.78 million ($2,972 psf). For this reason, they earned a decrease of close to $984,000 (35%) after holding the apartment for just about 11 years.

Residence at W price

Spring @ Katong is a freehold property development on Ceylon Roadway in District 15. The 52-unit property was completed in 2006. It has two residential blocks consisting of 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.

This is one of the most profitable resell transaction at Spring @ Katong to stage. It defeats the prior history revenue of $1.24 million set last March when a 1,044 sq ft unit brought $1.85 million ($1,772 psf).

The second most profitable condo resale deal during the duration in review occurred at RiverGate. A four-bedroom unit measuring 1,798 sq ft changed 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, earned a profit of close to $1.78 million (54%) on the transaction after possessing the apartment for 14 years.


error: Content is protected !!