Trizon penthouse sale sets new record in profitable resale transactions during Feb 25 to March 4
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The week of Feb 25 to March 4 saw a number of profitable resale transactions at various condominium projects, but the sale of a 5,737 sq ft penthouse at The Trizon on Ridgewood Close in prime District 10 set a new record. The unit was sold for $9.76 million ($1,701 psf) on Feb 27, earning the seller a $3.2 million profit (49%) compared to when the unit was bought for $6.55 million ($1,142 psf) in March 2016. This translates to an annualized gain of 4.5% over nine years. This also makes it the second most profitable resale transaction at The Trizon to date, behind a 7,083 sq ft penthouse that was sold for $11 million ($1,553 psf) in August 2023. This unit was purchased for $7.1 million ($1,002 psf) back in November 2019, resulting in a record profit of $3.9million (55%), or an annualized gain of 12% over nearly four years. Developed by Ideal Homes, The Trizon is a freehold development offering two- to five-bedroom units, as well as penthouses ranging from 1,012 sq ft to 7,083 sq ft. It was completed in 2013 and is close to the Mount Sinai landed enclave and private residential estates such as Pandan Valley and Pine Grove. The average resale price at The Trizon is $2,017 psf, while neighbouring Pandan Valley, a sprawling 605-unit development, has an average price of $1,449 psf. Nearby 999-year leasehold Ridgewood condo has an average price of $1,728 psf. Two new 99-year leasehold projects in the area are Pinetree Hill, with 520 units, and Nava Grove, with 552 units. Launched in July 2023, Pinetree Hill 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. It is about 78% sold. The 552-unit Nava Grove, launched in November last year, is about 75% sold, with an average selling price of $2,460 psf. A 1,442 sq ft unit at Haig Court was sold for $2.84 million ($1,968 psf) on Feb 27. (Picture: Samuel Isaac Chua/The Edge Singapore)The week also saw the sale of a 1,442 sq ft unit at Haig Court for $2.84 million ($1,968 psf) on Feb 27. This three-bedroom unit on the third floor fetched just $798,868 ($554 psf) when it was purchased in 2015, resulting in a profit of $2.04 million (255%) for the seller. This translates to an annualised gain of 6.8% over 20 years. Located on Haig Road in District 15, Haig Court was completed in 2004 and comprises 360 units. It is opposite Tanjong Katong Secondary School and close to Tanjong Katong Girls’ School and the Tanjong Katong campus of the Canadian International School. Schools in the vicinity also include Chung Cheng High School. Neighbouring Emerald at Katong and Tembusu Grand are two new 99-year leasehold projects. A 2,228 sq ft unit at Orchard Scotts was sold for $3.78 million ($1,696 psf) on Feb 25. (Picture: Samuel Isaac Chua/The Edge Singapore)For the week of Feb 25 to March 4, a 2,228 sq ft unit at Orchard Scotts was also sold for $3.78 million ($1,696 psf) on Feb 25. This unit had been bought for $4.35 million ($1,955 psf) back in 2010, resulting in a loss of $576,000 (13%) for the seller. This translates into an annualised loss of 1% over nearly 15 years. Average resale prices at Orchard Scotts have been declining in recent years, falling from $2,061 psf in March 2023 to $1,747 in March 2024. However, average resale prices have picked up marginally in recent months to $1,760 psf in February 2024. Located on Anthony Road off Clemenceau Avenue North, Orchard Scotts is a 99-year leasehold condo comprising 387 units. It is close to shopping malls such as Far East Plaza and Great World City, and popular eateries such as Newton Food Centre.
In conclusion, the sale of a penthouse at The Trizon on Ridgewood Close in prime District 10 set a new record for profitable resale transactions during the week of Feb 25 to March 4. The unit was sold for $9.76 million ($1,701 psf) on Feb 27, earning the seller a profit of $3.2 million (49%). This also makes it the second most profitable resale transaction at The Trizon to date. In addition, a 1,442 sq ft unit at Haig Court was also sold for $2.84 million ($1,968 psf) on Feb 27, resulting in a profit of $2.04 million (255%) for the seller. 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. However, average resale prices at Orchard Scotts have picked up marginally in recent months to $1,760 psf in February 2024.