When it comes to real estate investments, careful consideration must be given, with one crucial aspect being location. This is especially true in Singapore, where the value of properties is greatly influenced by their surroundings. Condos situated in central areas or near important amenities like schools, shopping malls, and public transportation hubs have a tendency to appreciate more in value. Prime locations such as Orchard Road, Marina Bay, and the Central Business District (CBD) have consistently shown strong growth in property values. Families also prioritize condos in these areas due to their proximity to reputable schools and educational institutions, making them an even more attractive investment. With that in mind, it would be a wise decision for aspiring real estate investors to consider purchasing a
The Trizon, a 289-unit condo on Ridgewood Close, made headlines last week with the sale of its penthouse unit for a remarkable profit. The 5,737 sq ft unit on the 23rd floor was sold for $9.76 million, or $1,701 per square foot, on Feb 27. This makes it the most profitable resale transaction for the week of Feb 25 to March 4. The penthouse unit was originally purchased for $6.55 million, or $1,142 psf, in March 2016. This means that the seller earned a whopping profit of $3.2 million, which translates to an impressive gain of 49%, or a 4.5% annualised gain over nine years.This also marks the second highest profitable resale transaction at The Trizon so far, with the highest record being set two years ago when a 7,083 sq ft penthouse unit was sold for $11 million, or $1,553 psf, in August 2023. This unit was bought for $7.1 million, or $1,002 psf, in November 2019, and it has resulted in a record profit of $3.9 million, translating to an annualised profit of 12% over almost four years.The Trizon is a desirable freehold development located in the prime District 10, close to the Mount Sinai landed enclave and the Pandan Valley and Pine Grove private residential estates. It is also surrounded by other prestigious private residential developments such as Pandan Valley and two new 99-year leasehold projects: the 520-unit Pinetree Hill and the 552-unit Nava Grove.Read also: Sale of Yong An Park penthouse rakes in $6.5 mil profitAdvertisementAdvertisementThe Trizon offers a diverse 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 a tabulation of resale caveats by EdgeProp Singapore, the average resale price at The Trizon stands at about $2,017 psf. Comparatively, nearby Pandan Valley, a sprawling 605-unit development, has an average price of $1,449 psf. Meanwhile, 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. This is marginally higher than the average price of $2,458 psf reached from its launch to end 2024, based on caveats lodged. The 520-unit development is about 78% sold. Similarly, the 552-unit Nava Grove, which was launched in November last year, is about 75% sold with an average selling price of $2,460 psf.The sale of the penthouse at The Trizon on Feb 27, which reaped the highest profit during the week, was followed by a $2.84 million transaction for a 1,442 sq ft unit at Haig Court. The three-bedroom unit on the third floor was sold for $1,968 psf on Feb 27 and was previously bought for just $798,868 or $554 psf in 2005. This translates to a whopping profit of $2.04 million, or 255%, over the 15 years since its purchase. On an annualised basis, this equates to a 6.8% gain over 19 years.Haig Court is a freehold development on Haig Road in District 15. Completed in 2004, the project comprises 360 units. Its central location in Marine Parade makes it highly sought after, and it is also situated close to popular shopping malls such as Katong Shopping Centre, Roxy Square and I12 Katong. The condo is also surrounded by several 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. Additionally, Haig Court is within close proximity to two new 99-year leasehold private residential projects, the 846-unit Emerald of Katong and the 638-unit Tembusu Grand. Other nearby new developments include The Continuum, an 816-unit freehold development on Thiam Siew Avenue, and Grand Dunman, a 1,008-unit 99-year leasehold project on Dunman Road.Read also: Four-bedroom unit at Mandarin Gardens reaps $3.83 mil profitAdvertisementAdvertisementLast year, Haig Court recorded a total of eight resale transactions, with prices ranging from $1.85 million, or $1,719 psf, for a 1,076 sq ft two-bedroom unit on Jan 16 to $3.45 million, or $2,226 psf, for a 1,550 sq ft four-bedroom unit on Dec 19. Profits from these transactions ranged from $450,000 to $2.06 million.There have been two resale transactions at Haig Court so far this year, including the $3.02 million transaction for a 1,453 sq ft unit that took place on Jan 17. This means that the seller earned a profit of $2.13 million.A 2,228 sq ft unit at Orchard Scotts was sold for $3.78 million, or $1,696 psf, on Feb 25. (Picture: Samuel Isaac Chua/)On the other hand, the least profitable resale transaction that took place during the week was the sale of a 2,228 sq ft unit at Orchard Scotts, which was sold for $3.78 million, or $1,696 psf, on Feb 25. However, as this unit was originally bought for $4.35 million, or $1,955 psf, back in 2010, the sale has resulted in a loss of $576,000, or 13%, for the seller. On an annualised basis, this equates to a 1% loss over the almost 15 years since its purchase.A compilation of resale caveats at Orchard Scotts indicates that the resale price at the condo has been steadily declining in recent years. In March 2010, units were typically sold at an average of $2,061 psf, but this has since decreased to an average of $1,747 psf in March 2020. However, resale prices have marginally picked up in recent months, with the average price recorded at about $1,760 psf last month.Orchard Scotts is a 99-year leasehold condo that was completed in 2008. Nestled in the prestigious District 9, the development boasts a mix of two- to five-bedroom units ranging from 936 sq ft to 4,435 sq ft.