Unit at 72 Grange makes $3.15 mil loss

By Timothy Tay

September 3, 2021



SINGAPORE (EDGEPROP) - The sale of a 3,627 sq ft unit at 72 Grange was the most unprofitable transaction during the week of Aug 17 to 24. The unit was sold for $6.59 million ($1,819 psf) on Aug 18 and had been purchased for $9.74 million ($2,688 psf) in September 2011. The seller therefore made a loss of $3.15 million (32%), or an annualised loss of 3.8% over nearly 10 years.

Completed in 1995, 72 Grange is a freehold condominium located on Grange Road in prime District 10. It consists of a single eight-storey block housing 18 apartments, and it is close to the Orchard Road shopping belt as well as the River Valley area.

The latest transaction has surpassed the previous record loss incurred at the development. In April 1996, a 4,295 sq ft unit was sold for $2.15 million ($501 psf), but had been purchased for $4.1 million ($955 psf) in October 1995. This means that the seller made a $1.95 million (47%) loss on the sale, which is an annualised loss of 73% in less than six months.

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https://www.edgeprop.sg/property-new...s-315-mil-loss