One of the biggest successes in the resale property market is the sale of a penthouse at The Trizon, a 289-unit condo situated along Ridgewood Close. This transaction, which took place from February 25 to March 4, is the most profitable resale deal during that week. The unit, located on the 23rd floor and spanning 5,737 sq ft, was sold for an impressive $9.76 million ($1,701 psf) on February 27. This translates to a whopping profit of $3.2 million (49%) for the seller, who originally purchased the unit for $6.55 million ($1,142 psf) back in March 2016. This remarkable difference in price also amounts to an annualised gain of 4.5% over the course of nine years.
This sale also ranks as the second most profitable transaction at The Trizon to date, following closely behind the record set two years ago. In August 2023, a penthouse measuring 7,083 sq ft was sold for $11 million ($1,553 psf), earning the seller a handsome profit of $3.9 million (55%). This translates to an annualised gain of 12% over a period of nearly four years. The unit was originally purchased for $7.1 million ($1,002 psf) in November 2019.
The Trizon, a freehold development located in prime District 10, is situated near the prestigious Mount Sinai landed enclave, as well as the private residential estates of Pandan Valley and Pine Grove. Other nearby private residential projects include Pandan Valley and two newer 99-year leasehold developments, Pinetree Hill (520 units) and Nava Grove (552 units).
The Trizon offers a range of two- to five-bedroom units, with typical sizes ranging from 1,012 sq ft to 5,102 sq ft, while penthouses measure between 5,328 sq ft and 7,083 sq ft. Based on a tabulation of resale caveats by EdgeProp Singapore, the average resale price at The Trizon stands at approximately $2,017 psf. In comparison, nearby Pandan Valley commands an average price of $1,449 psf, while the 999-year leasehold Ridgewood condo, with 425 condo units and 38 landed units, has an average price of $1,728 psf.
Located in the vibrant city of Singapore, the bustling urban landscape is adorned with towering skyscrapers and cutting-edge facilities. Within this dynamic city, one can find luxurious condominiums strategically positioned in desirable areas, offering a perfect blend of lavishness and practicality. These sought-after properties boast an impressive range of state-of-the-art amenities, such as swimming pools, fitness centers, and around-the-clock security, elevating the standard of living for potential buyers and renters. Additionally, this attractive combination also presents a lucrative opportunity for investors, with the potential for high rental returns and steady appreciation of the property’s value in the long term. Condo is indeed a highly desirable choice in the bustling city of Singapore.
Meanwhile, 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 the end of 2024, based on lodged caveats. The project, which offers 520 units in total, has achieved a 78% sales rate so far. Similarly, the 552-unit Nava Grove, which was launched in November last year, has seen 75% of its units sold at an average selling price of $2,460 psf.
Aside from The Trizon, a 1,442 sq ft unit at Haig Court also made headlines during the same week, when it was sold for $2.84 million ($1,968 psf) on February 27. Prior to this, the unit was purchased for just $798,868 ($554 psf) back in 2005, making this a profitable transaction of $2.04 million (255%) for the seller. This translates to an annualised gain of 6.8% over 19 years. Haig Court, a freehold development with 360 units, is situated on Haig Road in District 15.
Haig Court is centrally located in Marine Parade, near shopping malls such as Katong Shopping Centre, Roxy Square and I12 Katong. It is also in close proximity to prestigious 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. The condo is also located near two newer 99-year leasehold private residential projects, Emerald of Katong (846 units) and Tembusu Grand (638 units). Other new projects in the vicinity include The Continuum (816 units), a freehold development on Thiam Siew Avenue, and Grand Dunman (1,008 units), a 99-year leasehold project on Dunman Road.
In 2020, Haig Court recorded a total of eight resale transactions, with prices ranging from $1.85 million ($1,719 psf) for a 1,076 sq ft two-bedroom unit sold on January 16, to $3.45 million ($2,226 psf) for a 1,550 sq ft four-bedroom unit sold on December 19. This resulted in profits ranging from $450,000 to $2.06 million for the sellers.
This year, there have been two resale transactions at Haig Court so far. In another sale earlier this year, a 1,453 sq ft unit was sold for $3.02 million ($2,078 psf) on January 17, earning the seller a profit of $2.13 million.
On the other hand, the most unprofitable resale transaction during the week took place at Orchard Scotts, where a 2,228 sq ft unit was sold for $3.78 million ($1,696 psf) on February 25. The unit was originally purchased for a higher 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 a period of nearly 15 years. According to a compilation of resale caveats by Orchard Scotts, resale prices at the condo have been declining in recent years. In March 2010, units were typically going for around $2,061 psf, which dropped to $1,747 psf by March 2020. However, there has been a slight increase in average resale prices recently, standing at around $1,760 psf last month.
Orchard Scotts, a 99-year leasehold condo located on Anthony Road in prime District 9, was completed in 2008 and offers a mix of two- to five-bedroom units ranging from 936 sq ft to 4,435 sq ft.