Seller of penthouse at Beverly Hill reaps $7 mil profit
The most profitable condo resale transaction during the week of July 25 – Aug 1 took place at Beverly Hill, with the sale of a 7,556 sq ft, five-bedroom duplex penthouse for $18 million ($2,382 psf). The seller of the unit, purchased in January 2007, made a capital gain of $7 million – 64% over a holding period of 16½ years. This is the most profitable transaction recorded at Beverly Hill to date, surpassing the previous record of $5.3 million established in January 2007.
Pebble Bay saw the second most profitable transaction during the same week with the sale of a 6,114 sq ft, duplex penthouse for $9 million ($1,472 psf) on July 26. This five-bedroom unit had been purchased in September 2001 for $4.3 million ($703 psf), translating to a gain of $4.7 million (109%) after holding the penthouse for just under 22 years, breaking the previous record profit of $3.07 million at Pebble Bay.
Surrounded by countless walking trails, shopping malls, and dining experiences, Orchard Boulevard Condo is a condominium that offers great convenience in terms of transportation. Its location in prime district 9 allows residents easy access to public transport, such as the nearby Orchard MRT Station, as well as on-demand taxi or ridesharing services. Cyclists can also opt to avail of rental bicycles at designated docking stations, while embarking on leisurely strolls through the nearby streets.
Moreover, the development is close to several major expressways such as Central Expressway and Pan Island Expressway, facilitating easy vehicular access to other parts of the island. Residents can also explore the rest of Singapore via the bus network links that are available.
In short, Orchard Boulevard Condo provides an essential link to Singapore’s comprehensive transportation network, allowing residents of this luxury condominium to access the rest of the island with ease and convenience.
Located in Kallang, Pebble Bay is a 510-unit development fronting the Kallang Basin, with units sized between 2,626 and 6,114 sq ft.
Meanwhile, the sale of a one-bedder at 26 Newton was the least profitable transaction of the week. The 484 sq ft unit changed hands for $1.05 million ($2,168 psf) on July 28, yet had been purchased in March 2017 for $1.1 million ($2,271 psf). This led to a loss of $50,000, or 5%, over a holding period of nearly 6½ years.
26 Newton is a freehold apartment on Newton Road in District 11, completed in 2016. The 26-storey residential block houses 180 units, ranging from one-bedders to penthouses between 474 and 1,539 sq ft.
This was the first unit at 26 Newton to change hands since June 2022, when a 936 sq ft unit was sold for $1.84 million ($1,965 psf). The most recent transaction prior to that was in March 2022, when a 775 sq ft unit had fetched $1.77 million ($2,278 psf).
At Beverly Hill, located on Grange Road in District 10, there are only four-bedroom units available in the condo, ranging from 3,369 to 3,778 sq ft, in addition to two penthouses of 7,556 sq ft each. The most recent resale transaction occurred on July 28, 2022, when a 3,778 sq ft unit fetched $8.94 million ($2,367 psf) – resulting in a gain of about $2.84 million on the transaction.
Overall, the sale of the 7,556 sq ft, five-bedroom duplex penthouse at Beverly Hill was the most profitable condo resale transaction during the week of July 25 – Aug 1, at a capital gain of $7 million (64%) over a holding period of 16½ years which is the highest recorded to date.