Penthouse at Spring @ Katong reaps $2.06 mil profit

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

Situated in Area 9, RiverGate is a freehold property that was finished in 2009. It has 545 units around three 43-storey blocks. Units comprise a mix of 2- to four-bedroom residences figuring in between 1,023 and 3,918 sq ft.

This is the very first resell reported at RiverGate to mark this year. in 2023, the condominium observed five units shift hands, all of which were worthwhile transactions. The units, sizing up in between 1,539 and 2,088 sq ft, were sold for in between $4.3 million and $5.75 million, or in between $2,588 and $2,999 on a psf-price basis. The respective sellers made gains reaching from $1.25 million to $2.56 million.

In the meantime, one of the most worthless apartment reselling operation throughout the time frame in assessment was the sale of a condo at Robinson Suites. The two-bedroom unit extending 936 sq ft was yielded $1.8 million ($1,922 psf) on Jan 29. It was bought by the vendor in May 2013 for $2.78 million ($2,972 psf). Hence, they earned a reduction of about $984,000 (35%) after holding the condo for nearly 11 years.

The most profitable apartment reselling deal during the week of Jan 23 to 30 was the sale of a duplex 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 already acquired the unit directly from the property developer for about $865,000 ($515 psf) in January 2005. Thus, they earned a profit of $2.055 million (238%) after keeping the unit for 19 years.

The second most successful condo reselling transaction in the course of the period in review occurred at RiverGate. A four-bedroom unit computing 1,798 sq ft switched hands for $5.05 million ($2,809 psf) on Jan 29. The seller, that bought the unit for $3.27 million ($1,820 psf) in February 2010, profited a gain of close to $1.78 million (54%) on the transfer after possessing the apartment for 14 years.

This is the most unlucrative resale purchase that has happened at Robinson Suites to day, based upon information gathered on EdgeProp Research study. It surpasses the previous report loss of $944,000 gotten 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 Roadway in the CBD in District 1. The development contains a single high rise property 167 condos. Units comprise one- and two-bedroom residences varying from 484 sq ft to 990 sq ft. There are even 6 penthouse units going from 1,087 to 1,410 sq ft.

North Gaia price

This is the most worthwhile resale transaction at Spring @ Katong to stage. It beats the previous log earnings of $1.24 million set last March when a 1,044 sq ft unit fetched $1.85 million ($1,772 psf).

Spring @ Katong is an estate property development on Ceylon Roadway in District 15. The 52-unit property was finalized in 2006. It has 2 housing blocks consisting of 2- 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.

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