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A sale transaction at The Trizon on Ridgewood Close was recorded as the most profitable resale transaction for the week of Feb 25 to March 4. The 289-unit development, located in prime District 10, is a freehold condo that offers units ranging from two- to five-bedroom apartments and penthouses.
Sold on Feb 27 was a 5,737 sq ft penthouse unit on the 23rd floor, which was previously purchased for $6.55 million ($1,142 psf) in March 2016. The recent sale of the unit was at a much higher price of $9.76 million ($1,701 psf), resulting in a profit of $3.2 million (49%) for the seller. This translates to an annualised gain of 4.5% over nine years, making it the most profitable resale transaction at The Trizon to date.
The second most profitable resale transaction at The Trizon was also a penthouse unit, which was sold at $11 million ($1,553 psf) in August 2023. The unit was previously purchased for $7.1 million ($1,002 psf) in November 2019, resulting in a record profit of $3.9 million (55%). This translates to an annualised gain of 12% over close to four years.
The Trizon is a freehold development situated in prime District 10, close to the Mount Sinai landed enclave and the Pandan Valley and Pine Grove private residential estates. It is also near private residential developments such as Pandan Valley and two recently launched 99-year leasehold projects: the 520-unit Pinetree Hill and the 552-unit Nava Grove.
The average resale price at The Trizon is approximately $2,017 psf, based on a tabulation of resale caveats by EdgeProp Singapore. Nearby Pandan Valley has an average price of $1,449 psf, while the Ridgewood condo, a 999-year leasehold development with 425 condo units and 38 landed units, commands an average price of $1,728 psf.
New projects in the vicinity include Pinetree Hill, which has recorded units sold this year at an average price of $2,550 psf, and Nava Grove, which has seen an average selling price of $2,460 psf since its launch in November last year. 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.
Another profitable resale transaction at Haig Court on Feb 27 involved the sale of a 1,442 sq ft three-bedroom unit on the third floor at $2.84 million ($1,968 psf). The unit was 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 annualised gain of 6.8% over 19 years.
Haig Court is a 360-unit freehold development located on Haig Road in District 15. It is situated within the centrally located Marine Parade area, near shopping malls such as Katong Shopping Centre, Roxy Square and I12 Katong. It is also near several prominent 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 close 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.
There have been two resale transactions at Haig Court so far this year. Last year, there were eight resale transactions, with profits ranging from $450,000 to $2.06 million. The sale of Yong An Park penthouse in 2020 yielded a profit of $6.5 million
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Meanwhile, The sale of a 2,228 sq ft unit at Orchard Scotts on Feb 25 was the most unprofitable resale transaction during the week, with a recorded price of $3.78 million ($1,696 psf). This is lower than the previous purchase price of $4.35 million ($1,955 psf) in 2010, resulting in a loss of $576,000 (13%) for the seller. This translates to an annualised loss of 1% over close to 15 years.
Orchard Scotts is a 99-year leasehold development located on Anthony Road, off Clemenceau Avenue North in prime District 9. Completed in 2008, it has 387 units consisting of two- to five-bedroom units, ranging from 936 sq ft to 4,435 sq ft.
Data collected from resale caveats by EdgeProp Singapore indicates that the resale price at Orchard Scotts has declined over the past decade. In March 2010, units were selling at an average price of $2,061 psf, but this has decreased to $1,747 psf by March 2020. The average resale prices have slightly picked up in recent months, reaching $1,760 psf last month.
Overall, the past week has seen a mix of both profitable and unprofitable resale transactions in the prime districts of Singapore.