Three Bedder Pebble Bay Sold 22 Mil Profit

The most profitable condo resale transaction for the week of May 14 to 21 was the sale of a three-bedroom apartment at Pebble Bay, which fetched $3.75 million on May 16. The unit, measuring 2,336 sq ft and located on the fourth floor, changed hands for $1,605 psf. This translates to a profit of $2.19 million for the seller, who had previously bought the unit in August 1999 for $1.56 million. This means that the seller reaped a capital gain of 141% after owning the unit for almost 25 years.This sale marks the 10th-highest profit ever made on a unit at Pebble Bay based on data from EdgeProp Research. The most profitable deal recorded at the condo so far was the sale of a four-bedroom penthouse, spanning 6,114 sq ft and located on the 24th floor, which fetched $9 million in July 2023. The seller, who purchased the unit in September 2001 for $4.3 million ($703 psf), made a profit of $4.7 million on the transaction.Located on Tanjong Rhu Road in District 15, Pebble Bay is a 510-unit waterfront condo that was completed in 2000. The development has a 99-year lease and features units ranging from 850 to 3,154 sq ft with one to four bedrooms. The condo also has several four-bedroom penthouses measuring between 6,114 and 6,469 sq ft. It is conveniently located just a five-minute walk from Tanjong Rhu MRT Station on the upcoming Thomson-East Coast Line, which is set to open on June 23. Other profitable transactions at Pebble Bay this year include the sale of eight units measuring between 947 and 2,766 sq ft and fetching between $1.47 million and $4.22 million ($1,522 psf to $1,978 psf), with the sellers making gains of between $620,000 and $2.56 million. Only two unprofitable transactions were recorded, with a two-bedroom unit on the 14th floor changing hands for about $2.06 million ($1,691 psf) on March 23, incurring a loss of about $760,000 for the seller. The second unprofitable transaction was for a three-bedroom unit on the 11th floor that was sold for about $1.94 million ($1,345 psf) on Feb 11, resulting in a loss of about $240,000.

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