Seller of penthouse at Beverly Hill reaps $7 mil profit

in record-setting sale

At Beverly Hill, the most profitable condo resale transaction for the week of July 25 to Aug 1 was a 7,556 sq ft five-bedroom duplex penthouse. The unit was sold on July 28 for an impressive $18 million (equivalent to $2,382 psf), resulting in a 64% capital gain for the seller, which had purchased the unit for $11 million ($1,456 psf) in January 2007. This gain of $7 million has set a new record profit at Beverly Hill, surpassing the $5.3 million gain made in January 2007 by the seller of the same penthouse unit.

Located in District 10, the 23-storey Beverly Hill boutique condo was built in 1983 and features 86 units, with four-bedroom layouts ranging from 3,369 to 3,778 sq ft, as well as two 7,556 sq ft penthouses. This sale is the first time a unit has changed hands in the past year.

The second most lucrative transaction during the week in review occurred at Pebble Bay. On July 26, a 6,114 sq ft five-bedroom duplex penthouse was sold for $9 million ($1,472 psf), resulting in a profit of $4.7 million (109%) for the seller, who had purchased the unit for $4.3 million ($703 psf) in September 2001. This gain surpasses the previous record of $3.07 million made by the seller of a 2,626 sq ft unit in July 2022.

Situated in Kallang, Pebble Bay is a 510-unit condo developed by CapitaLand in 1997. The development enjoys proximity to the Singapore Sports Hub, Kallang Wave Mall, Bay East Garden and East Coast Park, as well as an upcoming Tanjong Rhu MRT Station on the Thomson-East Coast Line.

Unfortunately, the most unprofitable transaction during the week in review was at 26 Newton. On July 28, a 484 sq ft one-bedder sold for $1.05 million, which was lower than the purchase price of $1.1 million in March 2017 – resulting in a $50,000 loss for the seller after nearly 6½ years of ownership. This is the first unit at 26 Newton to be sold since June 2022.

For residents of Tengah Plantation Close EC, they will be able to get to the mall in a few minutes.

The area surrounding Tengah Plantation Close EC is also home to other lifestyle amenities that are nearby. Park Connector Network, cycling paths, and a community garden are all nearby and accessible to residents of Tengah Plantation Close EC. The community garden is a great place for residents to relax and enjoy natural beauty. Furthermore, there are also several schools such as Westwood Secondary School, Hong Kah Secondary School and South View Primary School nearby. Hence, families living in the vicinity of Tengah Plantation Close EC can easily access any of these schools.

Built in 2016, the freehold residential block comprises 180 units ranging from one-bedders to penthouses between 474 and 1,539 sq ft.

Overall, the week of July 25 to Aug 1 saw the most profitable resale transations at Beverly Hill and Pebble Bay, while 26 Newton registered the lowest profit.