The recent resale of a penthouse unit at The Trizon, a 289-unit condominium located on Ridgewood Close, proved to be the most lucrative transaction between Feb 25 and March 4. The 5,737 sq ft unit, situated on the 23rd floor, was sold for a whopping $9.76 million, which translates to $1,701 psf. The sale, which took place on Feb 27, also marked a profit of $3.2 million (49%) for the seller who had previously purchased the unit for $6.55 million ($1,142 psf) back in March 2016. This translates to an annualized gain of 4.5% over a period of nine years.
This sale also becomes the second most profitable transaction at The Trizon to date, following a record-breaking sale in 2023 where a 7,083 sq ft penthouse was sold for $11 million ($1,553 psf). The seller of this unit had originally bought it for $7.1 million ($1,002 psf) in November 2019, earning a profit of $3.9 million (55%) and an annualized gain of 12% over close to four years.
The Trizon, a freehold development situated in the prime District 10, is in close proximity to the Mount Sinai landed enclave, as well as private residential estates such as Pandan Valley and Pine Grove. Other nearby developments include Pandan Valley and two new 99-year leasehold projects – the 520-unit Pinetree Hill and the 552-unit Nava Grove.
The Trizon 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 EdgeProp Singapore, the average resale price at The Trizon is around $2,017 psf. In comparison, nearby developments such as Pandan Valley have an average price of $1,449 psf, while the nearby 999-year leasehold Ridgewood condo commands an average price of $1,728 psf.
Pinetree Hill, which was launched for sale in July 2023, has seen units sold this year at an average price of $2,550 psf, compared to an average of $2,458 psf from its launch to end 2024, based on caveats lodged. The 520-unit development is about 78% sold. On the other hand, the 552-unit Nava Grove, which was launched in November last year, is about 75% sold, with an average selling price of $2,460 psf.
The second most profitable resale transaction of the week was recorded at Haig Court on Feb 27, where a 1,442 sq ft unit was sold for $2.84 million ($1,968 psf). The three-bedroom unit, located on the third floor, had been previously purchased for just $798,868 ($554 psf) in 2005, resulting in a profit of $2.04 million ($255%) for the seller. This translates to an annualized gain of 6.8% over a period of 19 years.
Located in District 15, Haig Court is a freehold development completed in 2004, with a total of 360 units. The condo is centrally located in Marine Parade, with easy access to shopping malls such as Katong Shopping Centre, Roxy Square and I12 Katong. It is also within close proximity to various renowned schools such as 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 also situated next to two new 99-year leasehold private residential projects – the 846-unit Emerald of Katong and the 638-unit Tembusu Grand. Other new projects 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.
Last year, Haig Court recorded eight resale transactions, with profits ranging from $450,000 to $2.06 million. Two resale transactions have taken place at Haig Court so far this year, with the most recent sale being a 1,453 sq ft unit that fetched $3.02 million ($2,078 psf). This transaction resulted in a profit of $2.13 million for the seller.
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On the other hand, the most unprofitable resale transaction was recorded at Orchard Scotts, where a 2,228 sq ft unit was sold for $3.78 million ($1,696 psf) on Feb 25. However, this unit had been previously purchased for $4.35 million ($1,955 psf) in 2010, resulting in a loss of $576,000 (13%) for the seller. This translates to an annualized loss of 1% over a period of 15 years.
According to a compilation of resale caveats at Orchard Scotts, the resale price at the condo has been declining in recent years. In 2010, units were typically sold at about $2,061 psf, but this figure has since dropped to $1,747 psf as of March 2020. The average resale price at Orchard Scotts has slightly picked up in recent months to about $1,760 psf last month.
Orchard Scotts is a 99-year leasehold condo located on Anthony Road, off Clemenceau Avenue North in prime District 9. With a total of 387 units, the development features a mix of two- to five-bedroom units ranging from 936 sq ft to 4,435 sq ft.