Three-bedder at Pebble Bay sold for $1.6 mil profit
/ EdgeProp Singapore |
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The most profitable condo resale transaction during the week of July 2 to 9 was the sale of a three-bedroom apartment at Pebble Bay. The 2,336 sq ft apartment fetched $3.5 million ($1,498 psf) on July 4, with the seller netting a gain of $1.62 million. They had purchased the unit for $1.88 million ($805 psf) in May 2007. This means they made a capital gain of 86% after owning the unit for around 17 years.
The transaction comes less than two months after the seller of another 2,336 sq ft unit at Pebble Bay reaped a profit of $2.19 million when it changed hands for $3.75 million ($1,605 psf) on May 16. The unit had been last transacted in August 1999 at $1.56 million ($667 psf), which means the seller made a capital gain of 141% after a holding period of nearly 25 years.
The 2,336 sq ft unit at Pebble Bay fetched $3.5 million ($1,498 psf) on July 4 (Picture: Albert Chua/The Edge Singapore)
Pebble Bay is a 510-unit waterfront condo located on Tanjong Rhu Road, along the Kallang Basin waterfront in District 15. Completed in 2000, the 99-year leasehold development has one- to four-bedroom units of 850 to 3,154 sq ft. There are also four-bedroom penthouses spanning between 6,114 and 6,469 sq ft. The condo is a five-minute walk to Tanjong Rhu MRT Station on the Thomson-East Coast Line.
The condo has seen a high proportion of profitable resale deals in recent years. Caveats lodged show that in 2023, 14 of the 16 transactions that took place above the purchase price, with sellers registering profits from $373,000 to $4.7 million. In 2024, 12 resale transactions have been logged to date, of which 10 have been profitable. The sellers made gains between $620,000 and $2.56 million.
Trevista saw the second most profitable condo resale transaction during the week in review. This comes with the sale of a 1,561 sq ft, four-bedroom unit for $3.03 million ($1,939 psf) on July 3. The seller bought the unit in September 2009 for $1.43 million ($919 psf). As such, they netted a gain of $1.59 million (111%), after owning the unit for almost 15 years.
This is the second-highest gain made on a unit at Trevista thus far. The record belongs to a 1,733 sq ft unit that fetched $3.22 million ($1,858 psf) on May 9. The seller, who bought the unit from the developer in April 2010 for $1.57 million ($903 psf), netted a profit of $1.65 million.
A 1,561 sq ft unit at Trevista was sold for $3.03 million ($1,939 psf) on July 3, netting a gain of $1.59 million (Picture: Samuel Isaac Chua/The Edge Singapore)
Trevista is a 99-year leasehold condo along Lorong 3 Toa Payoh in District 12. Completed in 2012, the development has three 39-storey blocks with 590 units in total. Apartments include studio and one-bedroom units of 463 to 721 sq ft; two-bedroom and two-bedroom-plus-study units of 861 to 1,442 sq ft; three-bedroom units of 1,098 to 1,507 sq ft; and four-bedders of 1,560 to 1,630 sq ft. The largest units are four-bedroom-plus-study apartments of 1,776 to 1,809 sq ft.
The condo is a five-minute walk to Braddell MRT Station on the NorthSouth Line.
Meanwhile, The Coast At Sentosa Cove saw the most unprofitable condo resale transaction during the week in review. A three-bedroom unit spanning 1,916 sq ft changed hands for $3.06 million ($1,597 psf) on July 4. It was purchased by the seller in a sub-sale for $3.93 million ($2,050 psf) in July 2007. Thus, they incurred a loss of about $868,000 (22%) after holding the unit for 17 years.
The seller of a 1,916 sq ft at The Coast At Sentosa Cove incurred a loss of about $868,000 when it changed hands for $3.06 million ($1,597 psf) on July 4 (Picture: Samuel Isaac Chua/The Edge Singapore)
The Coast At Sentosa Cove is a 99-year leasehold condo along Ocean Drive that was completed in 2009. Comprising 249 units, the low-rise luxury condo fronts the longest coastal stretch in Sentosa Cove. Units include three-bedders of 1,916 to 2,121 sq ft and four-bedders of 2,303 to 3,122 sq ft. There are also three- and five-bedroom penthouses of 3,477 to 4,855 sq ft.
The condo has seen three other transactions since the start of the year, all of which were profitable. On April 5, a 2,357 sq ft unit was sold for $3.95 million ($1,676 psf), netting a gain of $400,000. On May 3, a 2,024 sq ft unit changed hands for $3.25 million ($1,606 psf), with the seller making a gain of about $81,500. On May 30, the seller of a 2,357 sq ft unit clocked a profit of $170,000 when it fetched $3.5 million ($1,485 psf).
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