Archive for category: Misc

in resale

The most profitable condo resale transaction of the week of July 25 to August 1 took place at Beverly Hill, where a duplex penthouse of 7,556 sq ft was sold for $18 million ($2,382 psf). The five-bedroom unit had been purchased in January 2007 for $11 million ($1,456 psf), resulting in a capital gain of 64% after a holding period of 16½ years. This profit of $7 million is the highest recorded at Beverly Hill to date, beating the previous record of $5.3 million made in January 2007.

Set in District 10 along Grange Road, Beverly Hill is an iconic 23-storey condo built in 1983 with 86 units, of which only four-bedroom units and two penthouses are available for purchase. The last resale transaction prior to the record-breaking one was for a 3,778 sq ft unit sold for $8.94 million ($2,367 psf) in July 2022. The seller had purchased the unit in June 2016 for $6.1 million ($1,615 psf), making a total profit of $2.84 million.

The second most profitable transaction for the week was at Pebble Bay, a 510-unit development located in Kallang with a facade that overlooks the Kallang Basin. A duplex penthouse of 6,114 sq ft sold for $9 million ($1,472 psf) on July 26 – a 109% increase after holding it for just under 22 years since the purchase price of $4.3 million ($703 psf). This is the most profitable transaction on record at Pebble Bay, surpassing the previous record of $3.07 million made by the seller of a 2,626 sq ft unit in July 2022.

Sited at Tampines Ave 11 Condo UOL Group, the area is studded with plenty of amenities ideal for the modern family. From well-known shopping malls to many renowned schools, a myriad of recreational and leisure spaces, these are all within reach for the fortunate residents of the estate. Families with younger children will certainly have no worry about providing a good quality lifestyle and education.

The estate also has great navigability access, with many expressways and MRT lines connecting to the city. This offers great convenience for commuters as they don’t have to worry about long travel times. In addition, with major business hubs such as Changi Business Park, Tampines Regional Centre and Changi Airport just minutes away, the potential for career advancement or moving up the corporate ladder looks great.

The most unprofitable transaction for this same period of July 25 to August 1 occurred at 26 Newton, a freehold apartment on Newton Road in District 11. A 484 sq ft unit changed hands for $1.05 million ($2,168 psf) on July 28 and the seller had bought it in March 2017 for $1.1 million ($2,271 psf). A 5% loss took place over a holding period of nearly 6½ years, making this the first transaction at 26 Newton since June 2022.

Beverly Hill, Pebble Bay and 26 Newton are all prime locations in Singapore, offering residents a unique and enjoyable lifestyle. Potential home buyers should check out the latest listings for these properties to experience all they have to offer.