Seller of penthouse at Beverly Hill reaps $7 mil profit

It is also conveniently located close to major expressways and highways, making commuting to and from work a breeze. Champions Way Condo provides quality living to its residents, offering spacious and stylishly-designed units with all the necessary facilities. Residents can also enjoy the resort-inspired facilities, which include a swimming pool, clubhouse, gym, and outdoor activities. Champions Way Condo, with its central location and excellent facilities, is the perfect place for families and individuals to call home. Its modern design and safety features offer a comfortable, safe, and relaxed living environment. It is also a great place to invest in real estate, as it is highly sought after and appreciated by both locals and foreigners.

The sale of a duplex penthouse at luxury Beverly Hill condo was the most profitable condo resale transaction from July 25 to Aug 1, according to URA caveats. On July 28th, the 7,556 sq ft five-bedroom unit changed hands at $18 million ($2,382 psf) and marked a remarkable profit to the seller of $7 million. This works out to a 64% capital gain over a holding period of 16.5 years, marking the most profitable Beverly Hill condo resale transaction to date!

The duplex penthouse that sold for a whopping $18 million is located on Grange Road in District 10 and was originally purchased by the seller in January 2007 for $11 million ($1,456 psf). It is part of a 33-storey boutique condo that houses 86 units in total, all with four-bedrooms, ranging in size from 3,369 to 3,778 sq ft, and two penthouses of 7,556 sq ft each.

The most recent transaction was the first Beverly Hill condo unit to change hands in over a year. On July 28th, 2022, a 3,778 sq ft unit fetched $8.94 million ($2,367 psf). The seller purchased the unit in June 2016 for $6.1 million ($1,615 psf), making a gain of $2.84 million on the resale.

At Pebble Bay, another luxurious condo, the second most profitable resale transaction was recorded at a duplex penthouse of 6,114 sq ft which was sold on July 26 for $9 million ($1,472 psf). The seller had purchased it in September 2001 – $4.3 million ($703 psf) – and as such they made a profit of $4.7 million (109%) after a holding period of just under 22 years.

In contrast, the most unprofitable transaction of the week took place at the freehold apartment 26 Newton, where a 484 sq ft unit was sold for $1.05 million ($2,168 psf). The seller had originally purchased the unit in March 2017 for $1.1 million ($2,271 psf), resulting in a loss of $50,000 – or 5% – after nearly 6.5 years.

Situated in Kallang, Pebble Bay contains 510 units in total and is close to the Singapore Sports Hub, Kallang Wave Mall, Bay East Garden, and East Coast Park. Just a five-minute walk away from the upcoming Tanjong Rhu MRT Station on the Thomson-East Coast Line, through its extensive amenities, the condo has proven a popular and lucrative choice with investors.

Meanwhile, the 26 Newton residential block in District 11 houses 180 units, ranging from one-bedders to penthouses varying in size between 474 and 1,539 sq ft.

The latest resale transactions at Beverly Hill, Pebble Bay, and 26 Newton properties only serve to demonstrate the lucrative prospects of the Singapore real estate market. Such is the growing interest in these prime residential hubs that the future of property investment in the country looks decidedly positive.

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