Sale Penthouse Trizon Earns Seller 32 Mil Profit
A penthouse unit at The Trizon, a 289-unit condo on Ridgewood Close, was recently sold for a significant profit. The 5,737 sq ft unit, located on the 23rd floor, was sold on Feb 27 for a total of $9.76 million, at a rate of $1,701 per square foot.
The sale of this unit marks the most profitable resale transaction from Feb 25 to March 4, highlighting the strong demand for luxury properties in Singapore. The penthouse unit was originally purchased in March 2016 for $6.55 million, at $1,142 per square foot. This means that the sale earned the seller a profit of $3.2 million, equivalent to a 49% increase. This translates to an annualized gain of 4.5% over nine years.
This remarkable transaction also makes it the second most profitable resale transaction at The Trizon to date. The record was set two years ago, when a 7,083 sq ft penthouse was sold for $11 million, at $1,553 per square foot. This unit was originally purchased for $7.1 million, at $1,002 per square foot, back in November 2019. As a result, the seller generated a record profit of $3.9 million, equivalent to a 55% increase. This translates to an annualized profit of 12% over close to four years.
Located in prime District 10, The Trizon is a freehold development that offers a mix of two- to five-bedroom units. Typical units range from 1,012 sq ft to 5,102 sq ft, while penthouses range from 5,328 sq ft to 7,083 sq ft. Nearby private residential developments include Pandan Valley, Pinetree Hill, and Nava Grove.
Based on caveats lodged, the average resale price at The Trizon is about $2,017 per square foot. In comparison, nearby Pandan Valley has an average price of $1,449 per square foot, while Ridgewood Condo commands an average price of $1,728 per square foot. The newly launched Pinetree Hill has achieved units sold this year at an average price of $2,550 per square foot, compared to an average of $2,458 per square foot from its launch to the end of 2024. Meanwhile, Nava Grove, which was also launched in November last year, has achieved an average selling price of $2,460 per square foot and is about 75% sold.
The second most profitable resale transaction during the week of Feb 25 to March 4 was recorded at Haig Court, a freehold development on Haig Road in District 15. A 3-bedroom unit on the third floor, which measures 1,442 sq ft, was sold for $2.84 million, or $1,968 per square foot. The seller had previously purchased the unit in 2005 for just $798,868, or $554 per square foot. This means that the seller earned a profit of $2.04 million, equivalent to a 255% increase. This translates to an annualized gain of 6.8% over 19 years.
Last year, Haig Court recorded eight resale transactions ranging from the sale of a 1,076 sq ft two-bedroom unit for $1.85 million, or $1,719 per square foot, to the sale of a 1,550 sq ft 4-bedroom unit for $3.45 million, or $2,226 per square foot. Profits from the resale transactions last year range from $450,000 to $2.06 million.
Renowned as one of the largest shopping havens in the suburbs of Singapore, Jurong Point is a must-visit retail destination for residents of Otto Place EC. Boasting a whopping 400 retail and dining options, this mall is set to spoil its visitors with endless choices. What’s more, Jurong Point is not just any ordinary mall – it features themed zones such as the Japanese-inspired Shokutsu Ten and the vibrant Malaysian Food Street, offering a one-of-a-kind shopping and dining experience all under one roof. And with the added convenience of being just a stone’s throw away from Otto Place, residents can easily indulge in a day of retail therapy and gastronomic adventures at Jurong Point anytime they desire.
The most unprofitable resale transaction during the week took place at Orchard Scotts, a 99-year leasehold condo on Anthony Road in prime District 9. A 2,228 sq ft unit was sold for $3.78 million, or $1,696 per square foot, on Feb 25. However, the unit had been purchased for $4.35 million, or $1,955 per square foot, back in 2010. This means that the seller incurred a loss of $576,000, equivalent to a 13% decrease. This translates to an annualized loss of 1% over close to 15 years.
Based on resale caveats at Orchard Scotts, the resale price has been declining in recent years. In March 2010, units were typically going for around $2,061 per square foot, but this decreased to $1,747 per square foot by March 2020. However, average resale prices have marginally increased in recent months to about $1,760 per square foot last month.
Orchard Scotts offers a mix of two- to five-bedroom units, ranging from 936 sq ft to 4,435 sq ft. The 387-unit condo was completed in 2008 and is centrally located in Marine Parade. It is close to several shopping malls, such as Katong Shopping Centre, Roxy Square, and I12 Katong. It is also near well-known 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.
Furthermore, Orchard Scotts is next to two new 99-year leasehold private residential developments, namely Emerald of Katong and Tembusu Grand. The nearby area also has other new projects, including The Continuum on Thiam Siew Avenue and Grand Dunman on Dunman Road.
In summary, the recent sale of a penthouse unit at The Trizon and other profitable resale transactions in various developments highlight the strength of the luxury property market in Singapore. With the ongoing development of new projects in popular districts, property owners can look forward to the potential for future gains in their investments.