JUST SOLD: 3,703 sq ft penthouse fetched $1.2 million profit

By Metta Lee / The Edge Property | June 16, 2016 11:49 AM SGT
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A 3,703 sq ft penthouse at Vertis in Marine Parade was recently sold for $3.7 million, after being held for exactly 10 years. It was first purchased back in May 2006, for $2.49 million, thus fetching the owner a profit of $1.2 million or 49% over nine years.
According to PropNex associate team director Christopher Chia, who marketed the rental of the unit last year, the penthouse has two sea-facing bedrooms and living rooms.
Vertis is a freehold apartment located on Amber Road. Completed in 2009, the 42-unit development is within 500m from Parkway Parade and within 300m from East Coast Park.
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Recent transactions at Vertis
Contract date
Unit size
Price ($)
Price ($ psf)
May 30, 2016
3,703
3,700,000
999
January 22, 2015
2,583
2,380,000
921
May 2, 2014
2,099
2,700,000
1,286

Source: URA, The Edge Property


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