Sale Penthouse Trizon Earns Seller 32 Mil Profit
A penthouse at The Trizon, a 289-unit condo on Ridgewood Close, has achieved the highest resale profit during the week of Feb 25 to March 4. The 5,737 sq ft unit located on the 23rd floor was sold for $9.76 million ($1,701 psf) on Feb 27. The seller had previously purchased the penthouse for $6.55 million ($1,142 psf) in March 2016, which resulted in a profit of $3.2 million (49%) and an annualised gain of 4.5% over nine years. This also marks the second most profitable resale transaction at The Trizon to date.
The Trizon is a freehold development situated in prime District 10, and is close to the Mount Sinai landed enclave, Pandan Valley and Pine Grove private residential estates. It offers a mix of two- to five-bedroom units, with typical units ranging from 1,012 sq ft to 5,102 sq ft, and penthouses ranging from 5,328 sq ft to 7,083 sq ft. According to resale caveats compiled by EdgeProp Singapore, the average resale price at The Trizon is approximately $2,017 psf.
Nearby developments in the area include Pandan Valley, a sprawling 605-unit development with an average price of $1,449 psf, and Ridgewood condo, a 999-year leasehold development with 425 condo units and 38 landed units, commanding an average price of $1,728 psf.
Newly launched projects in the vicinity include Pinetree Hill, a 520-unit development that has seen units sold at an average price of $2,550 psf since its launch in July 2023, and Nava Grove, a 552-unit development that has achieved an average selling price of $2,460 psf since its launch in November 2020. Pinetree Hill is currently 78% sold, while Nava Grove is at 75%.
The sale of the penthouse at The Trizon is the second most profitable resale transaction to date, following a record set two years ago when a 7,083 sq ft penthouse fetched $11 million ($1,553 psf) when it was sold in August 2023. The unit had previously been purchased for $7.1 million ($1,002 psf) in November 2019, resulting in a record profit of $3.9 million (55%), and an annualised gain of 12% over close to four years.
The second most profitable resale transaction that took place during the week was at Haig Court, where a 1,442 sq ft unit was sold for $2.84 million ($1,968 psf) on Feb 27. The three-bedroom unit on the third floor, previously purchased for $798,868 ($554 psf) in 2005, resulted in a profit of $2.04 million (255%), and an annualised gain of 6.8% over 19 years.
Haig Court is a freehold development with 360 units and is located on Haig Road in District 15. Completed in 2004, it is centrally located in Marine Parade, close to shopping malls such as Katong Shopping Centre, Roxy Square and I12 Katong. It is also surrounded by well-known schools including Chung Cheng High School, Tanjong Katong Girls’ School, Tanjong Katong Secondary School, and the Tanjong Katong campus of the Canadian International School.
Haig Court is next to two new 99-year leasehold private residential projects – the 846-unit Emerald of Katong and the 638-unit Tembusu Grand. Other new developments in the vicinity include The Continuum, an 816-unit freehold development on Thiam Siew Avenue, and Grand Dunman, a 1,008-unit 99-year leasehold project on Dunman Road.
Haig Court registered eight resale transactions last year, with profits ranging from $450,000 to $2.06 million. There have been two resale transactions this year, with the more recent one being the sale of a 1,453 sq ft unit for $3.02 million ($2,078 psf) on Jan 17. The seller earned a profit of $2.13 million.
The most unprofitable resale transaction during the week occurred at Orchard Scotts, where a 2,228 sq ft unit was sold for $3.78 million ($1,696 psf) on Feb 25. The unit had been previously purchased for $4.35 million ($1,955 psf) in 2010, resulting in a loss of $576,000 (13%) and an annualised loss of 1% over close to 15 years.
Orchard Scotts is a 99-year leasehold condo located on Anthony Road, off Clemenceau Avenue North in prime District 9. The 387-unit development was completed in 2008 and has a mix of two- to five-bedroom units ranging from 936 sq ft to 4,435 sq ft. According to resale caveats, the average resale price at Orchard Scotts has been gradually decreasing in recent years, from $2,061 psf in March 2010 to $1,747 psf in March 2020. However, average resale prices have marginally picked up to approximately $1,760 psf last month.
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