over the week of Feb 25 to March 4, a penthouse at The Trizon, a 289-unit condo on Ridgewood Close, was sold for a record profit of $3.2 million. The 5,737 sq ft unit on the 23rd floor fetched $9.76 million ($1,701 psf) whereas it was bought in March 2016 for $6.55 million ($1,142 psf). This resulted in an annualised gain of 4.5% over nine years, making it the most profitable resale transaction at The Trizon to date. The previous record was set in August 2023 when another penthouse unit at The Trizon fetched $11 million ($1,553 psf). The unit had been bought for $7.1 million ($1,002 psf) in November 2019, thus earning the seller a whopping $3.9 million profit (55%), translating to an annualised profit of 12% over close to four years.The Trizon is a popular freehold development in prime District 10, and its prime location near the Mount Sinai landed enclave and the Pandan Valley and Pine Grove private residential estates makes it a highly sought-after property. The average resale price at The Trizon is around $2,017 psf, which makes it a profitable investment for buyers. Nearby private residential developments such as Pandan Valley, which has an average price of $1,449 psf, and Ridgewood condo, which commands an average price of $1,728 psf, are also popular among buyers.Pinetree Hill, a 520-unit development, was launched for sale in July 2023 and 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 in 2024 to the end of 2023. Meanwhile, the 552-unit Nava Grove, which was launched in November 2023, is about 75% sold with an average selling price of $2,460 psf.The sale that reaped the second-highest profit during the week was a 1,442 sq ft unit at Haig Court, a 360-unit development on Haig Road in District 15. The unit, which had not been sold since it was purchased in 2005 for just $798,868, was transacted at $2.84 million ($1,968 psf). This resulted in a gain of $2.04 million (255%) for the seller, which translates to an annualised gain of 6.8% over 19 years. Haig Court is a freehold development centrally located in Marine Parade, close to amenities such as shopping malls and well-known schools in the area. The average price for Haig Court units in 2020 was $1,795 psf, but there have been eight resale transactions last year with profits ranging from $450,000 to $2.06 million so far this year.Also on the list of profitable transactions for the week was a 2,228 sq ft unit at Orchard Scotts, a 387-unit 99-year leasehold condo on Anthony Road in prime District 9. The unit was sold for $3.78 million ($1,696 sf) but had been bought in 2010 for $4.35 million ($1,955 psf). This resulted in a loss of $576,000 (13%) for the seller, which translates to an annualised loss of 1% over close to 15 years. The resale price for Orchard Scotts units has been declining in recent years, with an average price of $1,747 psf in March 2020. However, there has been a slight pick-up in recent months, with average resale prices reaching $1,760 psf last month. Despite this, the condo remains popular among buyers due to its prime location and the variety of unit sizes it offers, ranging from two- to five-bedroom units between 936 sq ft and 4,435 sq ft.
