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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.

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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