DEAL WATCH: Two-bedder at Pebble Bay going for $2 mil

/ EdgeProp
June 9, 2018 3:00 PM SGT
Pebble Bay is a 510-unit, 99-year leasehold condominium that was developed by CapitaLand (Credit: Samuel Isaac Chua/The Edge Singapore)
A 1,733 sq ft, two-bedroom unit at Pebble Bay in District 15 is up for sale at $2 million ($1,154 psf). The 99-year leasehold unit, located on the ground floor and overlooking the pool, is fully furnished and comes with an existing tenancy at $3,800 a month until August.
Pebble Bay, on Tanjong Rhu Road, is a 510-unit condominium that was developed by CapitaLand. It is a 10-minute walk to the Stadium MRT station. The upcoming Tanjong Rhu MRT station on the Thomson-East Coast line, which is slated for completion in 2023, will be right next to the condo.
The owner of the unit that has been put on the market is looking to sell it for investment purposes, says Leonard Tan, group director at Orange Tee & Tie, who is marketing the unit. Pebble Bay provides a respite from the hustle and bustle of city life, as the neighbourhood is surrounded by greenery and fronts the Marina Reservoir, he adds.
The condo is a short drive to several malls, such as Kallang Wave Mall, Leisure Park Kallang and The Concourse Shopping Mall. It is also within a 6km radius of educational institutions such as Stamford Primary School and Hong Wen School.
The latest transaction at Pebble Bay was on April 4, when a two-bedroom unit fetched $1.72 million ($1,343 psf). Two other units were sold on April 3, at $1.84 million ($1,334 psf) and $2.5 million ($1,320 psf) respectively.
So far, the highest psf price for a unit sold at Pebble Bay is $1,674 psf, for a 2,766 sq ft, four-bedroom unit on a lower floor. It was sold for $4.63 million in January.