reporter2
03-06-22, 11:01
Four-bedder at Cliveden at Grange sold at $2.34 mil loss
June 3, 2022
https://i.imgur.com/A4DmrK5.jpg
The sale of a 2,842 sq ft, four-bedroom unit at Cliveden at Grange was the most unprofitable resale transaction during the week of May 17 to 24. The sixth-floor unit fetched $7.6 million ($2,674 psf) on May 17. Previously, the unit had been bought for $9.94 million ($3,496 psf) in July 2007. As a result, the seller made a loss of $2.34 million (24%), which translates to an annualised loss of 1.8% over close to 15 years.
Based on URA caveats, there have been five resale transactions recorded at Cliveden at Grange over the past two years, and all have been unprofitable. Losses have ranged from $2.34 million for the latest resale transaction, to $2.64 million (32%) for the sale of a 2,153 sq ft, three-bedroom unit on the 22nd floor for $5.7 million (2,648 psf) on April 21. That unit had been bought for $8.34 million ($3,875 psf) in August 2007.
Cliveden at Grange is a freehold condominium along Grange Road in prime District 10. The development is close to other luxury condos along nearby Orchard Boulevard and Cuscaden Road, as well as the prime Orchard Road shopping belt. The 110-unit development was completed in 2011 by City Developments. It has three- to five-bedroom units of 2,153 to 6,028 sq ft.
On the other hand, the most profitable resale transaction during the week was the sale of a 2,583 sq ft, four-bedroom unit at Grange Residences. The eighth-floor unit was sold for $7.22 million ($2,795 psf) on May 17. It had been bought for $4.79 million ($1,858 psf) in December 2006. Thus, the seller earned a profit of $2.42 million (50%), which translates to an annualised profit of 2.7% over 15½ years.
Grange Residences is also located in prime District 10 and enjoys similar locational attributes and proximity to prime neighbourhoods along Orchard Boulevard, Cuscaden Road, Nassim Road and Tanglin Road, as well as the Orchard Road shopping belt. The 164- unit development was completed in 2004. It has four-bedroom units of 2,486 to 2,852 sq ft.
Using EdgeProp’s research tools, an analysis of the price trends at Grange Residences shows that its average selling price peaked in July 2016 at about $2,716 psf, compared to the latest average selling price of $2,383 psf in April 2022.
Read more at: https://www.edgeprop.sg/property-news/four-bedder-cliveden-grange-sold-234-mil-loss
June 3, 2022
https://i.imgur.com/A4DmrK5.jpg
The sale of a 2,842 sq ft, four-bedroom unit at Cliveden at Grange was the most unprofitable resale transaction during the week of May 17 to 24. The sixth-floor unit fetched $7.6 million ($2,674 psf) on May 17. Previously, the unit had been bought for $9.94 million ($3,496 psf) in July 2007. As a result, the seller made a loss of $2.34 million (24%), which translates to an annualised loss of 1.8% over close to 15 years.
Based on URA caveats, there have been five resale transactions recorded at Cliveden at Grange over the past two years, and all have been unprofitable. Losses have ranged from $2.34 million for the latest resale transaction, to $2.64 million (32%) for the sale of a 2,153 sq ft, three-bedroom unit on the 22nd floor for $5.7 million (2,648 psf) on April 21. That unit had been bought for $8.34 million ($3,875 psf) in August 2007.
Cliveden at Grange is a freehold condominium along Grange Road in prime District 10. The development is close to other luxury condos along nearby Orchard Boulevard and Cuscaden Road, as well as the prime Orchard Road shopping belt. The 110-unit development was completed in 2011 by City Developments. It has three- to five-bedroom units of 2,153 to 6,028 sq ft.
On the other hand, the most profitable resale transaction during the week was the sale of a 2,583 sq ft, four-bedroom unit at Grange Residences. The eighth-floor unit was sold for $7.22 million ($2,795 psf) on May 17. It had been bought for $4.79 million ($1,858 psf) in December 2006. Thus, the seller earned a profit of $2.42 million (50%), which translates to an annualised profit of 2.7% over 15½ years.
Grange Residences is also located in prime District 10 and enjoys similar locational attributes and proximity to prime neighbourhoods along Orchard Boulevard, Cuscaden Road, Nassim Road and Tanglin Road, as well as the Orchard Road shopping belt. The 164- unit development was completed in 2004. It has four-bedroom units of 2,486 to 2,852 sq ft.
Using EdgeProp’s research tools, an analysis of the price trends at Grange Residences shows that its average selling price peaked in July 2016 at about $2,716 psf, compared to the latest average selling price of $2,383 psf in April 2022.
Read more at: https://www.edgeprop.sg/property-news/four-bedder-cliveden-grange-sold-234-mil-loss