JUST SOLD: Caribbean At Keppel Bay unit profits despite low price

By Metta Lee
/ The Edge Property |
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Two similar sized units have been sold at Caribbean At Keppel Bay, one on the second floor at $3.85 million, and another on the eighth floor at $3.02 million.
The second floor unit sold at a $830,000 or 26% premium, above the eighth floor unit, despite being 150 sq ft smaller. This is likely due to it having a sea view.
On top of that, it appears that the eight floor unit, was sold below market price, at $1,169 psf, with the development’s recent transactions averaging $1,479 psf. The eighth floor unit was bought in July 2007 for $2,580,000 or $999 psf, thus fetching the owner a profit of $440,000 or 17% over nine years.
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Caribbean At Keppel Bay is a 99 year leasehold condominium located on Keppel Bay Drive. Completed in 2004, the 969-unit development is within 500m from Habourfront MRT interchange and Vivo city.
Profits for the eighth floor unit
Sold on
Sale Price ($)
Bought on
Purchase Price ($)
Profit ($)
Profit (%)
Annualised profit (%)
Holding period (years)
25-Apr-16
3,020,000
17-Jul-07
2,580,417
439,583
17%
2%
8.8
17-Jul-07
2,580,417
2-Nov-05
1,772,415
808,002
46%
33%
1.4

Source: URA, The Edge Property

Profits for the second floor unit
Sold on
Sale Price ($)
Bought on
Purchase Price ($)
Profit ($)
Profit (%)
Annualised profit (%)
Holding period (years)
6-May-16
3,850,000
4-Oct-00
2,295,900
1,554,100
68%
4%
15.6

Source: URA, The Edge Property


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