Penthouse at Spring @ Katong reaps $2.06 mil profit

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

The 2nd most rewarding condo resale deal in the course of the time in assessment occurred 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 acquired the unit for $3.27 million ($1,820 psf) in February 2010, earned a profit of around $1.78 million (54%) on the transaction after possessing the apartment for 14 years.

Meanwhile, one of the most unlucrative apartment reselling operation throughout the time frame in analysis was the transaction of an apartment 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). Thus, they got a decrease of near $984,000 (35%) after storing the condominium for just about 11 years.

This is the first resell reported at RiverGate to date this year. in 2023, the apartment found 5 units change hands, every one of which were profitable operations. The units, sizing up 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 made incomes ranging from $1.25 million to $2.56 million.

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

The most profitable condominium resale sale during 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 obtained $2.92 million ($1,739 psf) on Jan 23. The vendor had acquired the unit from the property developer for approximately $865,000 ($515 psf) in January 2005. Thus, they realized of $2.055 million (238%) after keeping the unit for 19 years.

Midtown Modern condo

Found in District 9, RiverGate is a property venture that was finished in 2009. It offers 545 units across 3 43-storey blocks. Units comprise a mix of two- to four-bedroom flats estimating in between 1,023 and 3,918 sq ft.

This is the most highly profitable resell exchange at Spring @ Katong to date. It defeats the prior record earnings of $1.24 million set last March when a 1,044 sq ft unit yielded $1.85 million ($1,772 psf).

This is the most profitless resale purchase that has actually taken place at Robinson Suites to day, formed on information compiled on EdgeProp Study. It surpasses the previous entry decrease 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.

Robinson Suites is a freehold apartment at 50 Robinson Road in the CBD in District 1. The property contains a single tower property 167 flats. Units include one- and two-bedroom residences ranging from 484 sq ft to 990 sq ft. There are also 6 penthouse units extending from 1,087 to 1,410 sq ft.

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