Penthouse at Spring @ Katong reaps $2.06 mil profit

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

This is one of the most worthwhile resale transaction at Spring @ Katong to day. It tops the past history earnings of $1.24 million set last March when a 1,044 sq ft unit got $1.85 million ($1,772 psf).

This is the initial resale filed at RiverGate to mark this year. in 2023, the apartment found 5 units change hands, each one of which were efficient sales. The units, assessing 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 vendors made gains going from $1.25 million to $2.56 million.

Altura EC condo

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

The second most profitable condo reselling proceeding throughout the period in evaluation happened 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, accumulated a growth of close to $1.78 million (54%) on the dealing after owning the residence for 14 years.

The best valuable apartment reselling deal over the week of Jan 23 to 30 was the sale of a double penthouse at Spring @ Katong. The 1,679 sq ft, three-bedroom unit obtained $2.92 million ($1,739 psf) on Jan 23. The dealer had purchased the unit via the property developer for about $865,000 ($515 psf) in January 2005. Hence, they realized of $2.055 million (238%) after securing the unit for 19 years.

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

In the meantime, one of the most unsuccessful apartment resale transaction throughout the period in evaluation was the deal of a residence at Robinson Suites. The two-bedroom unit covering 936 sq ft was sold for $1.8 million ($1,922 psf) on Jan 29. It was acquired by the vendor in May 2013 for $2.78 million ($2,972 psf). Therefore, they earned a reduction of close to $984,000 (35%) after storing the condo for almost 11 years.

This is the most unprofitable resale purchase that has recently occurred at Robinson Suites to date, based upon records collected on EdgeProp Research study. It beats the previous entry losing of $944,000 gotten by the seller of a 990 sq ft unit that yielded $1.83 million ($1,846 psf) in March 2023.

Located in Area 9, RiverGate is a freehold plan that was finished in 2009. It offers 545 units around three 43-storey blocks. Units comprise a mix of two- to four-bedroom homes estimating between 1,023 and 3,918 sq ft.