Within the realm of high-stakes real estate, Pebble Bay has once more taken the stage. On July 4, a three-bedroom apartment in Pebble Bay sold for a stunning $3.5 million ($1,498 psf), being the most profitable condo transaction for the week of July 2 through 9. Having bought the flat for $1.88 million ($805 psf) in May 2007, this sale brought the seller a lovely profit of $1.62 million. Over 17 years, this comes to an amazing 86% capital gain.
Amazingly, just under two months earlier, on May 16 another 2,336 square foot unit in Pebble Bay sold for $3.75 million ($1,605 psf). For the seller, who had paid $1.56 million ($667 psf) in August 1999, this sale produced an amazing profit of $2.19 million. After over 25 years, they thereby accomplished an amazing 141% capital gain.
Nestled near Tanjong Rhu Road in District 15, 510-unit beachfront condo Pebble Bay presents a stunning view of the Kallang Basin waterfront. Finished in 2000, this 99-year leasehold property has a range of one to four bedroom flats spanning 850 to 3,154 sq ft. It also features opulent four-bedroom penthouses spanning 6, 114 to 6, 497 sq ft. Just five minutes’ walk from Tanjong Rhu MRT Station on the Thomson-East Coast Line will get you to the property.
Resale deals at this prime site have surged in profitability. Fourteen of sixteen transactions in 2023 went over the initial purchase price; sellers kept gains ranging from $373,000 to $4.7 million. With 12 resale transactions recorded thus far in 2024, 10 of them have been profitable with earnings ranging from $620,000 to $2.56 million, the trend persisted.
Read: Norwood Grand condo at Champions Way
Close behind, Trevista noted the second most lucrative condo resale of the week. On July 3, bringing the seller a sizable profit of $1.59 million (111%), a four-bedroom, 1,561 square foot unit sold for $3.03 million ($1,939 psf). Originally paying $1.43 million ($919 psf) in September 2009, the seller had owned the flat for approximately 15 years.
A 1,533 square foot property sold for $3.22 million ($1,858 psf) on May 9 marked Trevista’s record resale profit. Having paid $1.57 million ($903 psf) for the flat in April 2010, the seller made a tidy $1.65 million profit.
Comprising a 99-year leasehold condo finished in 2012, Trevista is situated along Lorong 3 Toa Payoh in District 12. Comprising three 39-story buildings totaling 590 units, this construction represents From studios and one-bedrooms (463 to 721 sq ft) to roomy four-bedroom-plus-study properties (1,776 to 1,509 sq ft), it presents a range of flats. Trevista appeals even more because it is within five minutes’ walk from Braddell MRT Station on the North-South Line.
By comparison, the most unappealing condo resale of the week came from The Coast at Sentosa Cove. On July 4, a three-bedroom, 1,516 square foot flat sold for $3.06 million ($1,597 psf), resulting in a notable loss of almost $868,000 (22%), for the seller, who had paid $3.93 million ($2,050 psf) in July 2007.
Finished in 2009, the 99-year leasehold condo known as The Coast at Sentosa Cove is situated along Ocean Drive. Comprising 249 units, this luxurious low-rise project front Sentosa Cove’s longest coastal strip. Designed between 3,477 and 4,855 sq ft, it boasts roomy three- to five-bedroom penthouses.
Though recently lost, the apartment had profitable sales earlier in the year. Selling for $3.95 million ($1,676 psf), a 2,357 sq ft apartment sold on 5 April making a $400,000 profit. Likewise, on May 3 a 2,024 square foot flat sold for $3.25 million ($1,606 psf), generating a $81,500 profit. On May 30, another 2,357 square feet ($1,485 psf) brought $3.5 million ($1,485 psf), therefore turning a $170,000 profit for the seller.
Within the ever-changing world of condo resales, Pebble Bay, Trevista, and The Coast at Sentosa Cove highlight the highs and lows of real estate. The profitability of these high-value transactions is significantly influenced by strategic buying and holding times.
