When it comes to investing in a condo, securing financing is a crucial consideration. In Singapore, there are various mortgage options available, but it is important to take into account the Total Debt Servicing Ratio (TDSR) framework. This framework sets a limit on the amount of loan a borrower can take based on their income and current debt obligations. To make informed decisions about financing, investors should familiarize themselves with the TDSR and seek guidance from financial advisors or mortgage brokers. This can help prevent over-leveraging and ensure a successful investment in Singapore Projects.
The recent sale of a penthouse at The Trizon, located on Ridgewood Close, has been making waves in the real estate market. This 5,737 sq ft unit on the 23rd floor was sold for a whopping $9.76 million ($1,701 psf) on Feb 27, making it the most profitable resale transaction over the week of Feb 25 to March 4. The seller had initially purchased the unit in March 2016 for $6.55 million ($1,142 psf), earning a handsome profit of $3.2 million (49%) in just a span of nine years. This also makes it the second most profitable resale transaction at The Trizon to date.
The previous record for the most profitable resale transaction at The Trizon was set two years ago when a 7,083 sq ft penthouse was sold for $11 million ($1,553 psf) in August 2023. The unit was originally purchased for $7.1 million ($1,002 psf) in November 2019, earning the seller a whopping profit of $3.9 million (55%) and an annualised gain of 12% over close to four years.
The Trizon, located in prime District 10, is a freehold development with a mix of two- to five-bedroom units. Typical units range 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 a tabulation of resale caveats by EdgeProp Singapore, the average resale price at The Trizon is around $2,017 psf. Nearby developments such as Pandan Valley and the 999-year leasehold Ridgewood condo command average prices of $1,449 psf and $1,728 psf respectively.
Other nearby residential projects that have been making waves in the market include the 520-unit Pinetree Hill and the 552-unit Nava Grove, both of which are 99-year leasehold developments. Pinetree Hill, launched in July 2023, has seen units being sold at an average price of $2,550 psf this year, compared to an average of $2,458 psf from its launch to end 2024. As for Nava Grove, which was launched in November last year, about 75% of the 552 units have been sold at an average selling price of $2,460 psf.
Another notable resale transaction during the week was the sale of a 1,442 sq ft unit at Haig Court on Feb 27. This three-bedroom unit on the third floor was sold for $2.84 million ($1,968 psf), earning the seller a whopping profit of $2.04 million (255%) since it was purchased for just $798,868 ($554 psf) in 2005. This translates to an annualised gain of 6.8% over 19 years. Located in District 15, Haig Court is a freehold development completed in 2004 and is known for its strategic location close to various amenities such as shopping malls and reputable schools in the area.
The most unprofitable resale during the week was recorded at Orchard Scotts, where a 2,228 sq ft unit was sold for $3.78 million ($1,696 psf) on Feb 25. However, the unit had initially been bought for $4.35 million ($1,955 psf) in 2010, causing the seller to incur a loss of $576,000 (13%) on the sale. This translates to an annualised loss of 1% over close to 15 years.
Orchard Scotts, a 99-year leasehold condo located in prime District 9, is a development with 387 units ranging from two- to five-bedroom units of 936 sq ft to 4,435 sq ft. The resale prices at Orchard Scotts have been gradually declining in recent years, from an average of $2,061 psf in March 2010 to $1,747 psf in March 2020. However, there has been a slight increase in average resale prices in recent months, with prices averaging around $1,760 psf last month.