New Reporter
21-07-23, 11:43
Resale of four-bedder at The Grange sees $3.85 mil profit
July 21, 2023
https://i.imgur.com/pmKHvmx.jpg
The sale of a 2,282 sq ft unit at The Grange was the most profitable resale transaction over the week of July 4 to 11. The four-bedroom unit, on the 11th floor, was sold for $7.2 million ($3,155 psf) on July 10. The unit had been purchased for $3.35 million ($1,469 psf) in September 2005. As a result, the seller raked in a profit of $3.85 million (115%), which translates to an annualised profit of 4.4% over almost 18 years.
Based on URA caveats, this also makes it the second most profitable sale at The Grange. The transaction that holds the record is for a 4,456 sq ft, duplex penthouse sold for $11 million ($2,468 psf) in April 2008. The unit had previously fetched $6.8 million ($1,526 psf) in September 2005. This resulted in a profit of $4.2 million (61%), which translates to an annualised profit of 20% over around 2½ years.
The Grange is a 95-unit condo on Grange Garden in prime District 10. The luxury freehold development was completed in 2008. Located off Grange Road, the condo is next to Orchard Boulevard MRT Station on the Thomson-East Coast Line.
It is close to the landed housing enclave along One Tree Hill, as well as the Good Class Bungalows on Chatsworth Park. Prominent luxury condos such as 3 Orchard By-The-Park, Cuscaden Reserve, Park Nova, Boulevard 88, and Four Seasons Park can be found nearby on Orchard Boulevard.
Based on a tabulation of resale caveats by EdgeProp Singapore, selling prices at The Grange have tapered off in recent years compared to the period after its completion. The average price at the development was about $2,087 psf in July 2008 and had increased to $2,549 psf by July 2018. However, the price increase has moderated over the past five years to about $$2,589 psf this month.
Yet, The Grange still commands one of the highest average selling prices in the area. It is outmatched by a handful of other luxury projects such as neighbouring Parkview Eclat ($3,264 psf) on Grange Road and Cliveden at Grange ($3,026 psf) on Grange Road. Recently launched projects such as 3 Orchard By-The-Park ($3,754 psf) and Park Nova ($4,521 psf) command the highest psf prices in the neighbourhood.
The second most profitable sale during the week was that of a 3,498 sq ft unit at Wing On Life Garden on Bukit Timah Road. The unit changed hands for $8.43 million ($2,410 psf) on July 10. It had been purchased for $6.1 million ($1,744 psf) in November 2019. Thus, the seller earned a profit of $2.33 million (38%), which translates to an annualised gain of 9.2% over almost four years.
Wing On Life Garden is a freehold condo in the Tanglin area in prime District 10. The condo has 81 units and was completed in 1982. Its central location in Bukit Timah puts it in proximity to schools such as Singapore Chinese Girls’ School, Anglo-Chinese School (Barker Road), St Joseph’s Institution, and Catholic Junior College.
More at: https://www.edgeprop.sg/property-news/resale-four-bedder-grange-sees-385-mil-profit
July 21, 2023
https://i.imgur.com/pmKHvmx.jpg
The sale of a 2,282 sq ft unit at The Grange was the most profitable resale transaction over the week of July 4 to 11. The four-bedroom unit, on the 11th floor, was sold for $7.2 million ($3,155 psf) on July 10. The unit had been purchased for $3.35 million ($1,469 psf) in September 2005. As a result, the seller raked in a profit of $3.85 million (115%), which translates to an annualised profit of 4.4% over almost 18 years.
Based on URA caveats, this also makes it the second most profitable sale at The Grange. The transaction that holds the record is for a 4,456 sq ft, duplex penthouse sold for $11 million ($2,468 psf) in April 2008. The unit had previously fetched $6.8 million ($1,526 psf) in September 2005. This resulted in a profit of $4.2 million (61%), which translates to an annualised profit of 20% over around 2½ years.
The Grange is a 95-unit condo on Grange Garden in prime District 10. The luxury freehold development was completed in 2008. Located off Grange Road, the condo is next to Orchard Boulevard MRT Station on the Thomson-East Coast Line.
It is close to the landed housing enclave along One Tree Hill, as well as the Good Class Bungalows on Chatsworth Park. Prominent luxury condos such as 3 Orchard By-The-Park, Cuscaden Reserve, Park Nova, Boulevard 88, and Four Seasons Park can be found nearby on Orchard Boulevard.
Based on a tabulation of resale caveats by EdgeProp Singapore, selling prices at The Grange have tapered off in recent years compared to the period after its completion. The average price at the development was about $2,087 psf in July 2008 and had increased to $2,549 psf by July 2018. However, the price increase has moderated over the past five years to about $$2,589 psf this month.
Yet, The Grange still commands one of the highest average selling prices in the area. It is outmatched by a handful of other luxury projects such as neighbouring Parkview Eclat ($3,264 psf) on Grange Road and Cliveden at Grange ($3,026 psf) on Grange Road. Recently launched projects such as 3 Orchard By-The-Park ($3,754 psf) and Park Nova ($4,521 psf) command the highest psf prices in the neighbourhood.
The second most profitable sale during the week was that of a 3,498 sq ft unit at Wing On Life Garden on Bukit Timah Road. The unit changed hands for $8.43 million ($2,410 psf) on July 10. It had been purchased for $6.1 million ($1,744 psf) in November 2019. Thus, the seller earned a profit of $2.33 million (38%), which translates to an annualised gain of 9.2% over almost four years.
Wing On Life Garden is a freehold condo in the Tanglin area in prime District 10. The condo has 81 units and was completed in 1982. Its central location in Bukit Timah puts it in proximity to schools such as Singapore Chinese Girls’ School, Anglo-Chinese School (Barker Road), St Joseph’s Institution, and Catholic Junior College.
More at: https://www.edgeprop.sg/property-news/resale-four-bedder-grange-sees-385-mil-profit