New Reporter
10-02-23, 10:22
Sale of three-bedder at The Marbella sees $2.2 mil profit
February 10, 2023
https://i.imgur.com/0SpykeN.jpg
The sale of a three-bedroom unit at The Marbella on Jan 27 was the most profitable resale transaction during the week of Jan 24 to 31. The 1,625 sq ft unit fetched $3.45 million ($2,123 psf), but had previously cost $1.24 million ($766 psf) in October 2004. As a result, the seller raked in a profit of $2.21 million (177%), which translates to an annualised profit of 5.7% in more than 18 years.
This makes it the second most profitable resale on record at The Marbella. The most profitable transaction involved the sale of a 4,284 sq ft, four-bedroom penthouse unit for $4.65 million ($1,085 psf) in May 2010. The unit was bought for $2.33 million ($544 psf) in November 2004. Thus, the seller earned a record profit of $2.32 million (99%), which translates to an annualised profit of 13% over five years.
The Marbella is a freehold condominium on Mount Sinai Rise in prime District 10. The condo was completed in 2005. Notable large-sized residential developments such as the 660-unit Pine Grove and the 1,006-unit Pandan Valley, both off Ulu Pandan Road, are in the vicinity of Mount Sinai Rise.
More at: https://www.edgeprop.sg/property-news/sale-three-bedder-marbella-sees-22-mil-profit
February 10, 2023
https://i.imgur.com/0SpykeN.jpg
The sale of a three-bedroom unit at The Marbella on Jan 27 was the most profitable resale transaction during the week of Jan 24 to 31. The 1,625 sq ft unit fetched $3.45 million ($2,123 psf), but had previously cost $1.24 million ($766 psf) in October 2004. As a result, the seller raked in a profit of $2.21 million (177%), which translates to an annualised profit of 5.7% in more than 18 years.
This makes it the second most profitable resale on record at The Marbella. The most profitable transaction involved the sale of a 4,284 sq ft, four-bedroom penthouse unit for $4.65 million ($1,085 psf) in May 2010. The unit was bought for $2.33 million ($544 psf) in November 2004. Thus, the seller earned a record profit of $2.32 million (99%), which translates to an annualised profit of 13% over five years.
The Marbella is a freehold condominium on Mount Sinai Rise in prime District 10. The condo was completed in 2005. Notable large-sized residential developments such as the 660-unit Pine Grove and the 1,006-unit Pandan Valley, both off Ulu Pandan Road, are in the vicinity of Mount Sinai Rise.
More at: https://www.edgeprop.sg/property-news/sale-three-bedder-marbella-sees-22-mil-profit