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 consists of an one tower real estate 167 units. Units include one- and two-bedroom residences varying from 484 sq ft to 990 sq ft. There are also 6 penthouse units going from 1,087 to 1,410 sq ft.

This is one of the most profitless resale deal that has recently taken place at Robinson Suites to day, based on records collected on EdgeProp Study. It overtakes the previous report deficit of $944,000 made by the home seller of a 990 sq ft unit that brought $1.83 million ($1,846 psf) in March 2023.

This is the first resell documented at RiverGate to mark this year. in 2023, the apartment saw five units shift hands, each one of which were worthwhile sales. The units, assessing in between 1,539 and 2,088 sq ft, were fetched in between $4.3 million and $5.75 million, or between $2,588 and $2,999 on a psf-price basis. The respective home sellers created incomes ranging from $1.25 million to $2.56 million.

Meanwhile, one of the most unsuccessful apartment resale sale during the period in assessment was the sale of a residence at Robinson Suites. The two-bedroom unit extending 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 got a decrease of close to $984,000 (35%) after holding the place for just about 11 years.

Situated in District 9, RiverGate is a freehold property that was carried out in 2009. It comes with 545 units around three 43-storey blocks. Units comprise a mix of 2- to four-bedroom residences figuring between 1,023 and 3,918 sq ft.

Spring @ Katong is a freehold development on Ceylon Roadway in District 15. The 52-unit development was completed in 2006. It has two housing blocks consisting of two- and three-bedroom units from 990 to 1,701 sq ft. The project is within walking distance of the Marine Parade MRT Terminal on the Thomson-East Coast Line.

Sceneca Residences price

One of the most profitable condominium resale deal over the week of Jan 23 to 30 was the sale of a duplex 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 bought the unit from the builder for around $865,000 ($515 psf) in January 2005. Therefore, they made a profit of $2.055 million (238%) after holding the unit for 19 years.

The 2nd most rewarding condominium resale deal throughout the time in review happened at RiverGate. A four-bedroom unit computing 1,798 sq ft shifted 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, profited a gain of close to $1.78 million (54%) on the contract after owning the residence for 14 years.

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

This is one of the most worthwhile resell proceeding at Spring @ Katong to date. It beats the past log revenue of $1.24 million set last March when a 1,044 sq ft unit yielded $1.85 million ($1,772 psf).

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