Trizon penthouse at Ridgewood Close was sold for a whopping $9.76 million ($1,701 psf) on Feb 27, making it the most profitable resale transaction of the week from Feb 25 to March 4. The spacious 5,737 sq ft unit on the 23rd floor had been previously bought for $6.55 million ($1,142 psf) in March 2016, which means the seller made a profit of $3.2 million (49%) or an annualized gain of 4.5% over nine years.
This sale is also the second-most profitable resale transaction at The Trizon to date. The record was set in August 2023 when a 7,083 sq ft penthouse was sold for $11 million ($1,553 psf). The unit had been purchased for $7.1 million ($1,002 psf) in November 2019, raking in a record profit of $3.9 million (55%) or an annualized gain of 12% over nearly four years.
The Trizon is a freehold development located in prime District 10, near the Mount Sinai landed enclave and private residential estates such as Pandan Valley and Pine Grove. Nearby projects include Pandan Valley and new 99-year leasehold developments Pinetree Hill and Nava Grove.
The Trizon offers a range of two- to five-bedroom units, with typical units ranging from 1,012 sq ft to 5,102 sq ft, while penthouses range from 5,328 sq ft to 7,083 sq ft. According to EdgeProp Singapore, the average resale price at The Trizon is around $2,017 psf. Nearby Pandan Valley has an average price of $1,449 psf, while the 999-year leasehold Ridgewood condo commands an average price of $1,728 psf.
New 99-year leasehold project Pinetree Hill, launched 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 development is about 78% sold.
On the other hand, Nava Grove, a 99-year leasehold project launched in November last year, is about 75% sold at 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 sold for $2.84 million ($1,968 psf) on Feb 27. The three-bedroom unit on the third floor was previously purchased for just $798,868 ($554 psf) in 2005, earning the seller a profit of $2.04 million ($255%) or an annualized gain of 6.8% over 19 years.
Haig Court, a freehold development in District 15, is centrally located in Marine Parade and close to shopping malls such as Katong Shopping Centre, Roxy Square, and I12 Katong. It is also near well-known schools like Chung Cheng High School, Tanjong Katong Girls’ School, Tanjong Katong Secondary School, and the Canadian International School’s Tanjong Katong campus.
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 area include The Continuum, a freehold development with 816 units, and Grand Dunman, a 1,008-unit 99-year leasehold project.
In 2023, Haig Court recorded eight resale transactions with profits ranging from $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 sold for $3.02 million ($2,078 psf) on Jan 17, earning the seller a profit of $2.13 million.
Alternatively, the most unprofitable resale transaction of the week took place at Orchard Scotts when a 2,228 sq ft unit was sold for $3.78 million ($1,696 psf) on Feb 25. The unit had been previously bought for $4.35 million ($1,955 psf) in 2010, resulting in a loss of $576,000 (13%) or an annualized loss of 1% over nearly 15 years.
According to EdgeProp Singapore, the resale price at Orchard Scotts has been decreasing in recent years, with units typically going for around $2,061 psf in 2010 but slipping to $1,747 psf by March 2020. The average resale price has marginally picked up in recent months, reaching around $1,760 psf in February.
Orchard Scotts is a 99-year leasehold condo in prime District 9 with 387 units ranging from two to five bedrooms, with sizes from 936 sq ft to 4,435 sq ft.
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