Seller of penthouse at Beverly Hill reaps $7 million profit
A 2-storey with double volume penthouse at Beverly Hill which was recently sold, marks the most profitable resale condo transaction during the week of July 25 to Aug 1, according to lodgement of caveat found on URA caveats portals. The duplex five-bedroom high ceiling penthouse exchanged hands on July 28 for $18 million ($2,382 psf) which was previously bought in Jan 2007 by the seller for $11 million ($1,456 psf), the sums works out to be a whopping gross profit of $7 million or 64% gain before all the fees involved over a holding period of 16.5 years. This is up till date, the Beverly Hill’s most profitable transaction recorded, according to reliable medium. the previous record established in January 2007 where the seller of the penthouse reaped a profit gain of $5.3 million was triumphed . Beverly Hill was built in 1983, and is situated on Grange Road in District 10. The boutique condominium comprises of 86 units on a single 23-storey high block with only four-bedroom units floor plate designed for the condo. Pebble Bay, a 510-unit development which is a short five-minute stroll to the upcoming Tanjong Rhu MRT Station on the Thomson-East Coast Line, situated in Kallang, saw the second most profitable transaction during the week in review with the sale of a 6,114 sq ft, duplex penthouse for $9 million.
The Sora Condominium Showflat Singapore