Penthouse at Spring @ Katong reaps $2.06 mil profit

Spring @ Katong is a freehold property development on Ceylon Roadway in District 15. The 52-unit development was finished in 2006. It has two residential blocks including 2- and three-bedroom units from 990 to 1,701 sq ft. The project is within walking range of the Marine Parade MRT Station on the Thomson-East Coast Line.

This is one of the most unlucrative resale deal that has actually happened at Robinson Suites to day, formed on records collected on EdgeProp Research study. It beats the previous record loss of $944,000 made by the seller of a 990 sq ft unit that obtained $1.83 million ($1,846 psf) in March 2023.

The most valuable apartment resell transaction in the course of 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 fetched $2.92 million ($1,739 psf) on Jan 23. The dealer had already acquired the unit from the developer for about $865,000 ($515 psf) in January 2005. As a result, they made a profit of $2.055 million (238%) after keeping the unit for 19 years.

Blossoms By The Park floor plan

Robinson Suites is a freehold condominium at 50 Robinson Roadway in the CBD in District 1. The development contains an one high rise property 167 condominiums. Units consist of one- and two-bedroom residences varying from 484 sq ft to 990 sq ft. There are in addition six penthouse units ranging from 1,087 to 1,410 sq ft.

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

Meanwhile, one of the most unprofitable condo resale transactions during the period in analysis was the transaction of a condo 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 bought by the seller in May 2013 for $2.78 million ($2,972 psf). Hence, they brought in a reduction of around $984,000 (35%) after storing the place for almost 11 years.

The 2nd most successful condominium reselling proceeding throughout the period in review occurred 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 bought the unit for $3.27 million ($1,820 psf) in February 2010, netted a growth of near $1.78 million (54%) on the dealing after possessing the condo for 14 years.

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

This is the first resale reported at RiverGate to date this year. Last year, the apartment saw five units switch hands, every one of which were efficient sales. The units, measuring in between 1,539 and 2,088 sq ft, were fetched in between $4.3 million and $5.75 million, or in between $2,588 and $2,999 on a psf-price basis. The respective vendors created gains going from $1.25 million to $2.56 million.

Located in District 9, RiverGate is a freehold plan that was carried out in 2009. It has 545 units across 3 43-storey blocks. Units comprise a mix of two- to four-bedroom residences measuring between 1,023 and 3,918 sq ft.


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