Penthouse at Spring @ Katong reaps $2.06 mil profit

Robinson Suites is a freehold condominium at 50 Robinson Roadway in the CBD in District 1. The project contains an one high rise real estate 167 flats. Units include one- and two-bedroom residences ranging from 484 sq ft to 990 sq ft. There are even 6 penthouse units ranging from 1,087 to 1,410 sq ft.

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

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

This is the initial resell documented at RiverGate to mark this year. Last year, the condo viewed 5 units switch hands, all of which were profitable sales. The units, sizing up between 1,539 and 2,088 sq ft, were sold for between $4.3 million and $5.75 million, or in between $2,588 and $2,999 on a psf-price basis. The respective sellers made returns going from $1.25 million to $2.56 million.

The second most profitable condominium reselling transaction in the course of the time in evaluation occurred 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 bought the unit for $3.27 million ($1,820 psf) in February 2010, netted a growth of around $1.78 million (54%) on the dealing after possessing the condo for 14 years.

This is the most unprofitable resale deal that has actually occurred at Robinson Suites to day, based on information collected on EdgeProp Study. It exceeds the previous record loss of $944,000 set up by the dealer of a 990 sq ft unit that fetched $1.83 million ($1,846 psf) in March 2023.

This is one of the most worthwhile resale proceeding at Spring @ Katong to date. It tops 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).

On the other hand, one of the most unprofitable apartment reselling transactions during the duration in assessment was the transaction of a residence at Robinson Suites. The two-bedroom unit spanning 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). Hence, they brought in a reduction of around $984,000 (35%) after storing the condominium for nearly 11 years.

Klimt Cairnhill condominium

Found in District 9, RiverGate is a freehold project that was completed in 2009. It comes with 545 units around three 43-storey blocks. Units comprise a mix of two- to four-bedroom apartments measuring in between 1,023 and 3,918 sq ft.

The best valuable apartment resell sale over the week of Jan 23 to 30 was the transaction of a double 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 acquired the unit from the property developer for around $865,000 ($515 psf) in January 2005. Therefore, they made a profit of $2.055 million (238%) after keeping the unit for 19 years.

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