An impressive penthouse at the Trizon condo on Ridgewood Close was sold for the highest resale profit during the week of Feb 25 to March 4. The 5,737 sq ft unit on the 23rd floor was sold for $9.76 million ($1,701 psf) on Feb 27, making it the most profitable resale transaction at the development to date. The seller, who had bought the unit for $6.55 million ($1,142 psf) in March 2016, earned a profit of $3.2 million (49%) from the sale. This translates to an annualized gain of 4.5% over nine years.
The Trizon is a freehold development in prime District 10, situated close to the exclusive Mount Sinai landed enclave and the private residential estates of Pandan Valley and Pine Grove. Other nearby new 99-year-leasehold projects include the 520-unit Pinetree Hill and the 552-unit Nava Grove. The Trizon offers a 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.
The second most profitable resale transaction during the week took place at Haig Court in District 15 on Feb 27. A 1,442 sq ft three-bedroom unit on the third floor was sold for $2.84 million ($1,968 psf), earning the seller a profit of $2.04 million ($255%) over the 19-year period that they had owned the unit. This translates to an annualized gain of 6.8%. Haig Court is a freehold development completed in 2004, comprising a total of 360 units.
The most unprofitable resale transaction during the week occurred 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 ($1,696 psf) on Feb 25. The seller had bought the unit for $4.35 million ($1,955 psf) back in 2010, incurring a loss of $576,000 (13%) on the sale. This translates to an annualized loss of 1% over close to 15 years. The condo offers units ranging from two- to five-bedrooms, with sizes from 936 sq ft to 4,435 sq ft.