JUST SOLD: Three-bedder at The Marbella sold for $1.4 mil profit
By Tan Chee Yuen
/ The Edge Property |
A 1,475 sq ft unit at The Marbella condominium was sold in August 2015 for a profit of $1.4 million, according to URA caveat data. This translates into a gain of 138% or annualised return of 7.9%. The seller had purchased the property back in March 2004 for $1.0 million ($702 psf) and resold it for $2.5 million ($1,667 psf) this year.
The Marbella is a freehold condominium along Mt Sinai Rise, developed by OUB Centre Limited (OUBC), an associate company of Overseas Union Enterprise (OUE) and completed in 2005. It has two tower blocks with a total of 239 dwellings ranging from approximately 1,076 sq ft to 4,295 sq ft.
The subject development is within walking distance from Dover MRT of the East-West Line. It is also within five minutes’ drive to Holland Village, a popular spot that features a wide variety of restaurants and hip F&B outlets.
The Marbella is within 1 km from popular primary schools such as Henry Park Primary School and Raffles’ Girl Primary School. There are also two shopping malls — Jelita Shopping Centre and Clementi Ave 2 Shopping Centre — within 1km radius.
Based on the past six months’ transactions, prices at The Marbella range from $1,465 to $1,682 psf and rents range from $3.33 to $4.97 psf per month. This translates into an implied rental yield of 3.21%.
Editor: To real estate agents – if you have concluded an interesting deal recently, we would love to hear from you! Contact us at propertyeditor.sg@bizedge.com
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