The most profitable resale transaction for the week of Feb 25 to March 4 was the sale of a penthouse at The Trizon, a 289-unit condo located at Ridgewood Close. The unit, occupying the 23rd floor and measuring 5,737 sq ft, fetched $9.76 million ($1,701 psf) on Feb 27. This translated to a profit of $3.2 million (49%) for the seller, who had originally purchased the unit in March 2016 for $6.55 million ($1,142 psf). This gain also represents an annualised profit of 4.5% over nine years, making it the second most profitable resale transaction at The Trizon to date.
The record for The Trizon’s most profitable resale transaction so far was set in August 2023, when a 7,083 sq ft penthouse was sold for $11 million ($1,553 psf). The unit had been bought for $7.1 million ($1,002 psf) in November 2019, earning the seller a record profit of $3.9 million (55%). This equates to an annualised profit of 12% over almost four years.
The Trizon, a freehold development in prime District 10, is located near the Mount Sinai landed enclave and the Pandan Valley and Pine Grove private residential estates. Other surrounding private residential developments include Pandan Valley and two new 99-year leasehold projects: Pinetree Hill and Nava Grove.
The Trizon offers a range of two- to five-bedroom units, with typical units measuring 1,012 sq ft to 5,102 sq ft, and penthouses measuring 5,328 sq ft to 7,083 sq ft. Based on EdgeProp Singapore’s analysis of resale caveats, the average resale price at The Trizon is around $2,017 psf. Nearby Pandan Valley, a sprawling 605-unit development, has an average price of $1,449 psf, while the 999-year leasehold Ridgewood condo, with 425 condo units and 38 landed units, commands an average price of $1,728 psf.
Pinetree Hill, a 520-unit development 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 until the end of 2024, based on lodged caveats. The project is currently 78% sold. The 552-unit Nava Grove, launched in November 2023, is about 75% sold, with an average selling price of $2,460 psf.
The second most profitable resale transaction for the week was the sale of a 1,442 sq ft unit at Haig Court on Feb 27. The three-bedroom unit on the third floor was sold for $2.84 million ($1,968 psf), having previously been bought for just $798,868 ($554 psf) in 2005. This translated to a profit of $2.04 million (255%) for the seller, with an annualised gain of 6.8% over 19 years.
When considering investing in a Singapore condominium, one must also take into account the government’s implemented property cooling measures. Over time, the Singaporean government has implemented various measures aimed at controlling speculative buying and promoting a steady real estate market. One of these measures is the Additional Buyer’s Stamp Duty (ABSD), which enforces higher taxes on foreign buyers and individuals purchasing multiple properties. While these measures may have a short-term effect on the profitability of condo investments, they ultimately contribute to the long-term stability of the market, making it a secure investment environment. To learn more about condo investment opportunities in Singapore, visit Singapore Projects.
Haig Court is a freehold development with 360 units, located on Haig Road in District 15. Completed in 2004, it is centrally located in Marine Parade and near shopping malls such as Katong Shopping Centre, Roxy Square, and I12 Katong. It is also close to several 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: Emerald of Katong and Tembusu Grand, which have 846 and 638 units respectively. The vicinity also has other new projects such as The Continuum, an 816-unit freehold development, and Grand Dunman, a 1,008-unit 99-year leasehold project.
In 2020, Haig Court recorded eight resale transactions ranging from $1,850,000 ($1,719 psf) for a 1,076 sq ft two-bedroom unit on Jan 16, to $3,450,000 ($2,226 psf) for a 1,550 sq ft four-bedroom unit on Dec 19. Profits from these resale transactions ranged from $450,000 to $2,060,000.
There have been two resale transactions at Haig Court so far this year. The other sale, earlier in the year on Jan 17, was for a 1,453 sq ft unit that was sold for $3.02 million ($2,078 psf), earning the seller a profit of $2.13 million.
The most unprofitable resale transaction of 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 seller had bought the unit for $4.35 million ($1,955 psf) in 2010, resulting in a loss of $576,000 (13%). This equates to an annualised loss of 1% over close to 15 years.
Average resale prices at Orchard Scotts have been on a downward trend in recent years according to a compilation of resale caveats. In March 2010, units typically sold for around $2,061 psf, but this figure has since fallen to $1,747 psf as of March 2020. However, average resale prices have risen slightly in recent months, reaching around $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. Completed in 2008, the 387-unit condo offers a mix of two- to five-bedroom units, with sizes ranging from 936 sq ft to 4,435 sq ft.