Sale Penthouse Trizon Earns Seller 32 Mil Profit
The recent sale of a penthouse at The Trizon, a freehold condo located on Ridgewood Close, has been the talk of the town. The 5,737 sq ft unit on the 23rd floor was sold for a jaw-dropping $9.76 million ($1,701 psf) on Feb 27, making it the most profitable resale transaction for the week of Feb 25 to March 4. This translates to a whopping profit of $3.2 million (49%) for the seller, who had purchased the unit for $6.55 million ($1,142 psf) back in March 2016. The seller’s lucky streak did not end there as this sale also marked the second most profitable resale transaction at The Trizon to date, coming in second to a 7,083 sq ft penthouse which was sold for a record $11 million ($1,553 psf) in August 2023. This impressive gain of $3.9 million (55%) resulted in an annualised profit of 12% over close to four years for the seller.
The Trizon is a highly sought-after development situated in prime District 10, surrounded by prestigious landed enclaves and private residential estates such as Pandan Valley and Pine Grove. Other new leasehold developments in the area include the 520-unit Pinetree Hill and the 552-unit Nava Grove.
The average resale price at The Trizon currently stands at about $2,017 psf, based on a tabulation of resale caveats by EdgeProp Singapore. In comparison, nearby Pandan Valley 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.
Meanwhile, in the bustling District 15, a resale transaction at Haig Court on Feb 27 also caught attention. The 1,442 sq ft three-bedroom unit on the third floor was sold for $2.84 million ($1,968 psf), earning the seller a profit of $2.04 million (255%), based on the purchase price of $798,868 ($554 psf) back in 2005. This translates to an annualised gain of 6.8% over 19 years.
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Haig Court, a 360-unit freehold development completed in 2004, is conveniently located in Marine Parade and close to popular shopping malls such as Katong Shopping Centre, Roxy Square and I12 Katong. It is also surrounded by renowned schools such as Chung Cheng High School and Tanjong Katong Girls’ School.
Last year, there were eight resale transactions at Haig Court, with profits ranging from $450,000 to $2.06 million. This year, there have been two such transactions, with the most recent sale being a 1,453 sq ft unit that fetched $3.02 million ($2,078 psf) on Jan 17, earning the seller a profit of $2.13 million.
On the other hand, a 2,228 sq ft unit at Orchard Scotts was sold for $3.78 million ($1,696 psf) on Feb 25, resulting in a loss of $576,000 (13%) for the seller who had bought the unit for $4.35 million ($1,955 psf) in 2010. This translates to an annualised loss of 1% over close to 15 years.
Orchard Scotts, a 99-year leasehold condo in prime District 9, has recorded a downward trend in resale prices in recent years, with average prices slipping from $2,061 psf in March 2010 to $1,747 psf in March 2020. However, there has been a slight uptick in average resale prices in recent months to about $1,760 psf.
Completed in 2008, Orchard Scotts has a mix of two- to five-bedroom units ranging from 936 sq ft to 4,435 sq ft. The 387-unit condo is located on Anthony Road, off Clemenceau Avenue North, and is in close proximity to popular shopping malls and renowned schools.