JUST SOLD: Island View condo fetches $2.35 million profit

At Island View, a 3,595 sq ft unit was sold for a profit of $2.35 million on September 15. The seller purchased the ground-floor unit at $1.30 million ($362 psf) in May 2005 and resold it at $3.65 million ($1,015 psf). This translates into an annualised gain of 9.5% over a holding period of about 11 years.

Prior to this, the last transaction at Island View took place in November 2015 when another ground-floor, 3,595 sq ft unit changed hands for $3.64 million ($1,012 psf). Separately, a 3,498 sq ft unit fetched $4.0 million ($1,143 psf) in August 2015. Only three transactions at the project hit the $4 million price level.

Completed in 1984, Island View is a 72-unit freehold condominium project located within 500m from Pasir Panjang MRT station.

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