A 5,737 sq ft penthouse at The Trizon, a luxurious 289-unit condo located on Ridgewood Close, was recently sold for $9.76 million ($1,701 psf) on Feb 27, making it the most profitable resale transaction of the week between Feb 25 to March 4. The unit, situated on the 23rd floor, was originally purchased for $6.55 million ($1,142 psf) in March 2016, earning the seller a profit of $3.2 million (49%). This translates to an annualized gain of 4.5% over a period of nine years.
This sale also marks the second most profitable resale transaction at The Trizon to date. The current record was set two years ago when a 7,083 sq ft penthouse was sold for $11 million ($1,553 psf) in August 2023. The same unit was bought for $7.1 million ($1,002 psf) in November 2019, earning the seller a record profit of $3.9 million (55%), equivalent to an annualized gain of 12% over a period of close to four years.
Strategically located in prime District 10, The Trizon is a freehold development located close to the Mount Sinai landed enclave, as well as the Pandan Valley and Pine Grove private residential estates. Nearby private residential projects include Pandan Valley, Pinetree Hill (a 520-unit 99-year leasehold development), and Nava Grove (a 552-unit 99-year leasehold development).
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. Based on resale caveats by EdgeProp Singapore, the average resale price at The Trizon is around $2,017 psf. In comparison, nearby Pandan Valley (a sprawling 605-unit development) has an average price of $1,449 psf, while Ridgewood condo (a 999-year leasehold development with 425 condo units and 38 landed units) commands an average price of $1,728 psf.
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 end 2024, based on caveats lodged. The project is currently 78% sold. On the other hand, Nava Grove, which was launched in November last year, is about 75% sold, with an average selling price of $2,460 psf.
The second most profitable resale transaction of the week was a 1,442 sq ft unit at Haig Court which sold for $2.84 million ($1,968 psf) on Feb 27. The three-bedroom unit on the third floor was previously bought for just $798,868 ($554 psf) back in 2005. This sale thus earned the seller a profit of $2.04 million ($255%), equivalent to an annualized gain of 6.8% over a period of 19 years.
Haig Court, a freehold development with 360 units, is situated on Haig Road in District 15. Completed in 2004, the condo is located in the central area of Marine Parade and is close to popular shopping malls such as Katong Shopping Centre, Roxy Square, and I12 Katong. It is also in close proximity to renowned schools in the area such as Chung Cheng High School, Tanjong Katong Girls’ School, Tanjong Katong Secondary School, and the Tanjong Katong campus of the Canadian International School.
When it comes to investing in a condominium, financing is a crucial factor to consider. In Singapore, there are various mortgage options available, but it is crucial for investors to be familiar with the Total Debt Servicing Ratio (TDSR) framework. This framework restricts the amount of loan that a borrower can take based on their income and current debt obligations. Hence, it is imperative for investors to understand the TDSR and seek guidance from financial advisors or mortgage brokers to make well-informed financing decisions and avoid over-leveraging. Additionally, check out New Condo Launches for the latest updates on new condo developments.
Haig Court is next to two new 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.
Last year, Haig Court recorded eight resale transactions, with prices ranging from $1.85 million ($1,719 psf) for a 1,076 sq ft two-bedder on Jan 16, to $3.45 million ($2,226 psf) for a 1,550 sq ft four-bedroom unit on Dec 19. Profits from resale transactions last year ranged from $450,000 to $2.06 million.
So far this year, there have been two resale transactions at Haig Court, with the other sale being a 1,453 sq ft unit that was sold for $3.02 million ($2,078 psf) on Jan 17. The seller earned a profit of $2.13 million.
Meanwhile, the most unprofitable resale transaction of the week took place at Orchard Scotts, where a 2,228 sq ft unit was sold for $3.78 million ($1,696 psf) on Feb 25. However, the unit was previously purchased at $4.35 million ($1,955 psf) in 2010, resulting in a loss of $576,000 (13%) for the seller. This translates to an annualized loss of 1% over a period of almost 15 years.
According to a compilation of resale caveats, the resale prices at Orchard Scotts have been decreasing in recent years. In March 2010, units were typically sold at around $2,061 psf, which has since declined to $1,747 psf by March 2020. Average resale prices have marginally picked up 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 development comprises 387 units, with a mix of two- to five-bedroom units ranging from 936 sq ft to 4,435 sq ft.