Three Bedder Pebble Bay Sold 22 Mil Profit

During the week of May 14 to 21, the most profitable condo resale transaction took place at Pebble Bay with the sale of a three-bedroom apartment. Located on the fourth floor, the 2,336 sq ft unit was sold for $3.75 million ($1,605 psf) on May 16. The seller had previously purchased the unit in August 1999 for $1.56 million ($667 psf), resulting in a profit of $2.19 million or a capital gain of 141% after owning the unit for almost 25 years.

According to data compiled by EdgeProp Research, this is the 10th-highest profit ever made on a unit at Pebble Bay. The top spot belongs to a 6,114 sq ft, four-bedroom penthouse that was sold in July 2023 for $9 million ($1,472 psf). The seller, who bought the unit in September 2001 for $4.3 million ($703 psf), made a profit of $4.7 million.

Pebble Bay is a 510-unit waterfront condo located on Tanjong Rhu Road in District 15. The 99-year leasehold development was completed in 2000 and offers one- to four-bedroom units ranging from 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 the upcoming Tanjong Rhu MRT Station on the Thomson-East Coast Line, set to open on June 23.

Apart from the unit sold on May 16, there have been 10 other transactions at Pebble Bay this year. Of these, eight were profitable deals. The units sold ranged from 947 to 2,766 sq ft and fetched between $1.47 million and $4.22 million, or between $1,522 psf and $1,978 psf. The sellers made gains ranging from $620,000 to $2.56 million.

Mandarin Gardens saw the second most profitable condo resale transaction during the same week. A three-bedroom unit on the 16th floor measuring 2,034 sq ft was sold for $2.82 million ($1,386 psf) on May 21. The seller had last bought the unit in July 2006 for $910,000 ($447 psf), making a profit of $1.91 million (210%) after owning the unit for almost 18 years.

This is the third most profitable resale deal recorded at Mandarin Gardens so far. The top spot belongs to a 3,068 sq ft, four-bedroom unit sold in September 2021 for $4.1 million ($1,336 psf). The seller had bought the unit in August 2001 for $1.4 million ($456 psf), making a profit of $2.7 million.

Mandarin Gardens is a 99-year leasehold condo located on Siglap Road in District 15’s Marine Parade area. Completed in 1986, the development features 1,006 units spread across multiple blocks on a sprawling 1.08 million sq ft site. Units range from one- to four-bedders measuring between 732 and 3,800 sq ft. The condo is within walking distance to the upcoming Siglap MRT Station (Thomson-East Coast Line) set to open in June.

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The most unprofitable condo resale transaction during the week in review was recorded at Helios Residences. A two-bedroom-plus-study unit on the 11th floor measuring 1,281 sq ft was sold for $3.2 million ($2,498 psf) on May 17. The seller, who had bought the unit in August 2007 for $3.81 million ($2,976 psf), incurred a loss of about $612,000 or a capital loss of 16% after owning the unit for just under 17 years.

Helios Residences is a 140-unit freehold condo that was completed in 2011. Located along Cairnhill Circle in prime District 9, it is close to the Orchard Road shopping belt. The development features two- to three-bedroom units measuring 1,281 to 2,002 sq ft, as well as four-bedroom penthouses spanning 3,993 to 4,629 sq ft.

Apart from the transaction on May 17, there have been two other deals at Helios Residences this year. On Jan 10, a 1,916 sq ft, two-bedroom unit was sold for $4.6 million ($2,401 psf). The seller had bought the unit from the developer in July 2007 for $6.3 million ($3,290 psf), resulting in a loss of $1.7 million. On Feb 20, a 1,313 sq ft, two-bedroom unit was sold for $3.3 million ($2,513 psf). The seller had bought the unit in February 2021 for $2.75 million ($2,094 psf), making a gain of $550,000.

Overall, these transactions showcase the potential of profitable resale deals in Singapore’s property market. With strategic locations and strong demand for properties, buyers have the opportunity to make substantial profits in the long run.