Penthouse at Spring @ Katong reaps $2.06 mil profit

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

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

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

Found in Area 9, RiverGate is a freehold venture that was finished in 2009. It has 545 units across 3 43-storey blocks. Units comprise a mix of two- to four-bedroom homes figuring in between 1,023 and 3,918 sq ft.

Meanwhile, the most worthless condo reselling transactions during the period in assessment was the sale 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 acquired by the seller in May 2013 for $2.78 million ($2,972 psf). Hence, they brought in a reduction of around $984,000 (35%) after storing the condominium for nearly 11 years.

The second most profitable condominium resale deal during the period in evaluation occurred at RiverGate. A four-bedroom unit estimating 1,798 sq ft changed 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, earned a growth of around $1.78 million (54%) on the contract after owning the place for 14 years.

This is one of the most highly profitable resell exchange at Spring @ Katong to date. It surpasses the past history revenue of $1.24 million set last March when a 1,044 sq ft unit got $1.85 million ($1,772 psf).

The Arcady @ Boon Keng floor plan

The best efficient condominium resell transaction over the week of Jan 23 to 30 was the sale of a twin 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 purchased the unit from the developer for about $865,000 ($515 psf) in January 2005. Therefore, they earned a profit of $2.055 million (238%) after holding the unit for 19 years.

This is the initial resale recorded at RiverGate to date this year. Last year, the condominium saw 5 units shift hands, every one of which were worthwhile operations. The units, determining in between 1,539 and 2,088 sq ft, were fetched 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.

This is the most profitless resale purchase that has recently taken place at Robinson Suites to date, based upon data gathered on EdgeProp Research. It exceeds the previous entry deficit of $944,000 gotten by the seller of a 990 sq ft unit that yielded $1.83 million ($1,846 psf) in March 2023.

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