Penthouse at Spring @ Katong reaps $2.06 mil profit
This is the first resell reported at RiverGate to mark this year. in 2023, the condo found five units change hands, each one of which were cost-effective sales. The units, determining 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 sellers generated gains ranging from $1.25 million to $2.56 million.
Found in Area 9, RiverGate is a property project that was completed in 2009. It comes with 545 units across 3 43-storey blocks. Units comprise a mix of 2- to four-bedroom homes estimating in between 1,023 and 3,918 sq ft.
In the meantime, the most unprofitable condominium reselling sale throughout the duration in review was the sale of a flat 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). Hence, they earned a reduction of about $984,000 (35%) after storing the condominium for nearly 11 years.
The most efficient condominium reselling transaction during 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 obtained $2.92 million ($1,739 psf) on Jan 23. The seller had already purchased the unit from the property developer for about $865,000 ($515 psf) in January 2005. Thus, they earned a profit of $2.055 million (238%) after holding the unit for 19 years.
The unit marketed on Jan 29 is the very first apartment at Robinson Suites to replace hands ever since last September when a 614 sq ft unit obtained $1.45 million ($2,363 psf).
The 2nd most profitable condo resale proceeding during the time in review happened at RiverGate. A four-bedroom unit evaluating 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 growth of around $1.78 million (54%) on the transaction after owning the condo for 14 years.
This is the most profitable resale proceeding at Spring @ Katong to date. It beats the prior history revenue of $1.24 million set last March when a 1,044 sq ft unit fetched $1.85 million ($1,772 psf).
Spring @ Katong is a real estate property development on Ceylon Roadway in District 15. The 52-unit project was finalized in 2006. It has two residential blocks containing 2- and three-bedroom units from 990 to 1,701 sq ft. The property development is inside walking distance of the Marine Parade MRT Station on the Thomson-East Coast Line.
This is one of the most unprofitable resale transaction that has actually occurred at Robinson Suites to day, based upon records collected on EdgeProp Research study. It overtakes the previous report deficit of $944,000 made by the seller of a 990 sq ft unit that fetched $1.83 million ($1,846 psf) in March 2023.
Robinson Suites is a freehold apartment at 50 Robinson Roadway in the CBD in District 1. The development consists of a solo tower property 167 units. Units include one- and two-bedroom flats varying from 484 sq ft to 990 sq ft. There are additionally six penthouse units ranging from 1,087 to 1,410 sq ft.
