Three-bedder at Pebble Bay sold at $2.1 mil profit

November 17, 2022

The sale of a 1,894 sq ft unit at Pebble Bay, a 99-year leasehold development on Tanjong Rhu in District 15, was the most profitable transaction recorded during the week of Nov 1 to 8. The three-bedroom unit, which changed hands for $3.6 million ($1,900 psf) on Nov 7, had been purchased by the seller for $1.48 million ($781 psf) in November 2006, translating to a gain of $2.12 million, or 143%, over the 16-year holding period.

Pebble Bay is a 510-unit development located in Kallang, fronting the Kallang Basin. Built in 1997, the condominium developed by CapitaLand is close to the Singapore Sports Hub, Kallang Wave Mall, Bay East Garden and East Coast Park. It is a five-minute walk to the upcoming Tanjong Rhu MRT Station on the Thomson-East Coast Line.

The unit sold on Nov 7 clocked the highest psf price transacted at the development. The most profitable deal at Pebble Bay occurred in July, when a 2,626 sq ft unit on the 13th floor was transacted for $4.89 million ($1,862 psf). The unit was previously purchased for $1.82 million ($693 psf) in July 2002. Thus, the seller earned a profit of 3.07 million (169%), which works out to an annualised profit of 5.1% over a holding period of around 20 years.

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