Unit at Pebble Bay reaps $1.03 mil profit

By Charlene Chin
/ EdgeProp Singapore |
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SINGAPORE (EDGEPROP) - The seller of a unit at Pebble Bay made the top gain of $1.03 million over the week of Jan 25 to Feb 1. The 1,378 sq ft unit on the second floor was bought for $1.03 million ($750 psf) in September 1995 and sold for $2.07 million ($1,499 psf) on Jan 27. The seller therefore made a 100% profit, or an annualised profit of 3% over nearly 26½ years.
Pebble Bay (Credit: Samuel Isaac Chua/ The Edge Singapore)
Located in District 15 on Tanjong Rhu Road, Pebble Bay was completed in 1997 and comprises 510 units on a 99-year leasehold. It is a two-minute walk to the upcoming Tanjong Rhu MRT Station on the Thomson-East Coast Line.
The second top gain made over the week — a 155% profit of $960,000 — was at Intero, located on Leicester Road. The 1,012 sq ft unit on the 13th floor was purchased for $620,000 ($613 psf) in November 2006 and sold for $1.58 million ($1,562 psf) on Jan 27. This means that the seller made an annualised profit of 6% over 15 years.
Intero, located in District 13, comprises 48 freehold units and was completed in 2008. It is a four-minute walk to Potong Pasir MRT Station on the North-East Line.
A unit sold at Three Three Robin, located along Robin Road in District 10, made the third largest gain over the week, netting a 34% profit of $920,000. The 1,582 sq ft unit on the seventh floor was bought in June 2016 for $2.68 million ($1,694 psf), and sold for $3.6 million ($2,275 psf) on Jan 28. The seller therefore made an annualised profit of 5% over 5½ years.
Three Three Robin comprises 36 freehold units and was completed in 2005. It is a 10-minute walk to Stevens MRT Station on the Downtown Line.
Scotts Square (Credit: Samuel Isaac Chua/ The Edge Singapore)
On the other hand, the most unprofitable deal of the week was the resale of a 1,227 sq ft unit at Scotts Square in District 9. Having sold the property for $4.7 million ($3,831 psf) on Jan 26, the seller made a 4% loss of about $213,000. The unit was purchased in August 2007 for $4.91 million ($4,005 psf). Over a holding period of almost 14½ years, this translates into an annualised loss of 0.3%.
Scotts Square, located on Scotts Road, comprises 338 freehold units and was completed in 2011. It is a six-minute walk to Orchard MRT Station on the North-South Line

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