The Trizon, a 289-unit condo located on Ridgewood Close, recorded the most profitable resale transaction during the week of February 25 to March 4. The penthouse unit on the 23rd floor, spanning 5,737 sq ft, was sold for $9.76 million, translating to $1,701 per square foot. This is a significant increase from the previous purchase in March 2016, when it was bought for $6.55 million, or $1,142 per square foot. This resulted in a profit of $3.2 million (49%) for the seller, with an annualised gain of 4.5% over nine years.This sale also marks the second most profitable resale transaction at The Trizon to date. The record was set two years ago in August 2023, when a 7,083 sq ft penthouse was sold for $11 million, or $1,553 per square foot. The unit had been bought in November 2019 for $7.1 million, or $1,002 per square foot, resulting in a record profit of $3.9 million (55%), or an annualised gain of 12% over almost four years.The Trizon is a freehold development situated in prime District 10. It is surrounded by the Mount Sinai landed enclave, as well as the private residential estates of Pandan Valley and Pine Grove. Nearby private residential developments include Pandan Valley and two new 99-year leasehold projects: Pinetree Hill, a 520-unit development, and Nava Grove, a 552-unit development.Located at Ridgewood Close, The Trizon offers a variety of two- to five-bedroom units, and penthouses ranging from 1,012 sq ft to 7,083 sq ft. The average resale price at The Trizon is approximately $2,017 per square foot, while the nearby Pandan Valley has an average price of $1,449 per square foot. Ridgewood, a 999-year leasehold development with 425 condo units and 38 landed units, commands an average price of $1,728 per square foot.Pinetree Hill, 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. The 520-unit development is about 78% sold. The 552-unit Nava Grove, launched in November last year, is also approximately 75% sold, with an average selling price of $2,460 psf.The second most profitable resale transaction of the week occurred at Haig Court on Feb 27, where a 1,442 sq ft three-bedroom unit on the third floor was sold for $2.84 million, amounting to $1,968 per square foot. This is a vast increase from the previous purchase price of $798,868 ($554 per square foot) in 2005, resulting in a profit of $2.04 million ($255%) and an annualised gain of 6.8% over 19 years.Haig Court is a freehold development on Haig Road in District 15, completed in 2004. The 360-unit development is situated in the centre of Marine Parade and near shopping malls such as Katong Shopping Centre, Roxy Square, and I12 Katong. It is also close to many reputable schools, including 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 next to two new 99-year leasehold projects: Emerald of Katong, an 846-unit development, and the 638-unit Tembusu Grand. Other new projects in the vicinity include The Continuum, an 816-unit freehold development, and Grand Dunman, a 1,008-unit 99-year leasehold project.Last year, Haig Court recorded eight resale transactions, with prices ranging from $1.85 million ($1,719 per square foot) for a 1,076 sq ft two-bedroom unit on Jan 16 to $3.45 million ($2,226 per square foot) for a 1,550 sq ft four-bedroom unit on Dec 19. These transactions resulted in a profit range of $450,000 to $2.06 million.There have been two resale transactions at Haig Court so far this year, with the other sale being a 1,453 sq ft unit that sold for $3.02 million ($2,078 per square foot) on January 17. The seller earned a profit of $2.13 million.The most unprofitable resale transaction occurred at Orchard Scotts, where a 2,228 sq ft unit was sold for $3.78 million ($1,696 per square foot) on Feb 25. However, the unit was initially purchased for $4.35 million ($1,955 per square foot) in 2010. As a result, the seller incurred a loss of $576,000 (13%), equating to an annualised loss of 1% over almost 15 years.Resale caveats at Orchard Scotts show a downward trend in resale prices in recent years. In March 2010, units were fetching an average of $2,061 per square foot, which dropped to $1,747 per square foot in March 2020. Average resale prices have only marginally increased in recent months, with the current average being $1,760 per square foot.Orchard Scotts is a 99-year leasehold condo located on Anthony Road, off Clemenceau Avenue North, in prime District 9. The 387-unit condo was completed in 2008 and offers a mix of two- to five-bedroom units ranging from 936 sq ft to 4,435 sq ft.
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Investing in a condo in Singapore comes with numerous benefits, one of which is the potential for capital appreciation. The country’s advantageous location as a global business hub, combined with its robust economic foundations, creates a constant demand for real estate. With this, property prices in Singapore have demonstrated a consistent upward trajectory, and condos in prime areas have experienced considerable appreciation. Those who wisely enter the market at opportune times and hold onto their properties for extended periods can reap substantial capital gains. Additionally, exploring various Singapore Projects can provide valuable insights and opportunities for prospective investors.