Resale of four-bedder at The Grange sees $3.85 mil profit

The most profitable resale transaction over the week of July 4 to 11 was for a 2,282 sq ft unit at The Grange. It was sold for $7.2 million (3,155 psf) on July 10, resulting in a profit of $3.85 million (115%) for the seller. The unit was previously purchased for $3.35 million ($1,469 psf) in September 2005, translating to an annualised profit of 4.4% over almost 18 years.Meanwhile, the second most profitable sale during the week was that of a 3,498 sq ft unit at Wing On Life Garden, which was sold for $8.43 million ($2,410 psf). It had been purchased for $6.1 million ($1,744 psf) in November 2019, leading to a profit of $2.33 million (38%) for the seller and an annualised gain of 9.2% over almost four years.Conversely, the most unprofitable transaction lodged during the week was the sale of a 1,324 sq ft, two-bedroom unit at Miro. The unit was sold for $2.23 million ($1,684 psf) on July 4, but had cost the seller $2.88 million ($2,174 psf) in June 2012. This resulted in a loss of almost $649,000 (23%), translating to an annualised loss of 2.3% over 11 years.
The most profitable resale transaction over the week of July 4 to 11 was a 2,282 sq ft unit at The Grange. It was sold for $7.2 million (3,155 psf) on July 10, with the seller raking in a profit of $3.85 million (115%). The unit had been purchased for $3.35 million ($1,469 psf) in September 2005, resulting in an annualised profit of 4.4% over almost 18 years.

The Grange is a 95-unit freehold condo in District 10’s Grange Garden. Located near Orchard Boulevard MRT Station, this luxury development consists of a variety of units from four-bedrooms, and is surrounded by prominent luxury condos such as 3 Orchard By-The-Park, Cuscaden Reserve, Park Nova, Boulevard 88, and Four Seasons Park.

Prices at The Grange have tapered off since its completion, with the average selling price currently standing at about $2,589 psf. Despite this, it is still one of the most expensive condos in the area, outmatched only by luxury projects such as the neighbouring Parkview Eclat ($3,264 psf) on Grange Road and Cliveden at Grange ($3,026 psf).

The second most profitable sale during the week was that of a 3,498 sq ft unit at Wing On Life Garden. It changed hands for $8.43 million ($2,410 psf) on July 10, having been purchased for $6.1 million ($1,744 psf) in November 2019. Thus, the seller earned a profit of $2.33 million (38%), translating 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. It was completed in 1982 and currently features 81 units. Located in Bukit Timah, the condo is within proximity to schools such as Singapore Chinese Girls’ School, Anglo-Chinese School (Barker Road), St Joseph’s Institution, and Catholic Junior College.

Since its completion, prices at Wing On Life Garden have consistently recorded significant increases. The average price this month is now about $2,266 psf, while the most profitable resale ever conducted was of a 3,305 sq ft unit that was transacted for $5.9 million ($1,785 psf) in October 2019. This was a record profit of $2.8 million (139%), with an annualised gain of 9.3% over 13 years.

In contrast, the most unprofitable transaction lodged during the week was the sale of a 1,324 sq ft, two-bedroom unit at Miro. The unit was sold for $2.23 million ($1,684 psf) on July 4, but had cost the seller $2.88 million ($2,174 psf) in June 2012. This resulted in a loss of almost $649,000 (23%), which translates to an annualised loss of 2.3% over 11 years.

Located in a prime District 10 address along Zion Road, Great World City Condo is highly accessible for residents. Its location puts it close to many prominent establishments and amenities. Drivers enjoy excellent access and convenience to and from the city, while public transport users can take advantage of nearby bus stops and MRT stations. All of this contributes to a desirable and convenient lifestyle, with the minimum of fuss.

Miro is a boutique freehold condo in Novena, District 11, comprising a mix of one- to four-bedroom units ranging from 990 to 2,917 sq ft. Prices have fallen since their peak in December 2011, standing at about $1,658 psf. This is lower than the average resale price of other nearby freehold condos such as Newton 18 ($2,318 psf) and Newton Edge ($1,851 psf).