The Grange’s four-bedder resale generates a $3.85 million profit

A 2,282 square feet apartment in The Grange was the most profitable resale sale during the period from July 4 through 11. The four-bedroom unit, which is located on the 11th floor was purchased to the highest bidder for $7.2 million ($3,155 per square foot) in July 10. The unit was bought at $3.35 million ($1,469 per square foot) on September 5, 2005. The seller earned profits that was $3.85 millions (115%), which amounts to an annualized income in the region of 4.4% over almost 18 years.

Watten House Condo prides itself on being strategically close to a number of prestigious educational institutions.

Based on URA restrictions, this results in the second-most profit-making sale in The Grange. The sale which holds the record for a 4,456 square foot duplex penthouse that was which was sold to the tune of $11million ($2,468 per square foot) on April 28, 2008. The property had previously sold for $6.8 million ($1,526 per square foot) on September 5, 2005. This led to profits that was $4.2 millions (61%), which is equivalent to an annualized gain of 20% over a period of two and a half years.

Grange Grange is a condo with 95 units situated on Grange Garden located in District 10. The luxurious Freehold project was finished in the year 2008. The development is located on Grange Road, the condo is located next to Orchard Boulevard MRT Station on the Thomson-East Coast Line.

It is near to the residential enclave of landed homes along One Tree Hill, as and The Good Class Bungalows located in Chatsworth Park. The most prominent luxury condominiums like 3 Orchard By-The-Park, Cuscaden Reserve, Park Nova, Boulevard 88, and Four Seasons Park are located close by along Orchard Boulevard.

Based on a table of resale caveats compiled by EdgeProp Singapore, selling prices at The Grange have been slashed in recent years when compared with the time after conclusion. The average cost at The Grange was around $2,087 per sq ft in July 2008 and been soaring to $2,549 in July 2018. But, the increase has slowed over the last five years, and is now at around $$2,589 psf in July.

But, The Grange still commands one of the most expensive median selling prices in the region. It’s outsold by a few other luxury developments like the neighboring Parkview Eclat ($3,264 psf) located on Grange Road in addition to Cliveden on the Grange ($3,026 PSF) located on Grange Road. Recently launched projects like 3 Orchard By-The-Park ($3,754 psf) and Park Nova ($4,521 per sq ft) are among the most expensive prices for psf in the neighborhood.

The second-highest profit deal of the week was the 3,498 square feet unit located at Wing On Life Garden on Bukit Timah Road. The property was sold to the buyer for $8.43 million ($2,410 per square foot) on July 10. The unit was purchased at $6.1 million ($1,744 per sqf) in November of 2019. This means that the seller made the seller a profit that was $2.33 millions (38%), which is equivalent to an annual increase that was 9.2% over almost four years.

Wing On Life Garden is a freehold condominium located in the Tanglin area of District 10. The condominium has 81 units and was built in 1982. The central location of Bukit Timah makes it within close proximity to schools including Singapore Chinese Girls’ School, Anglo-Chinese School (Barker Road), St Joseph’s Institution as well as Catholic Junior College.

The condominium is located within an exclusive residential area that includes other high-end condos on nearby Balmoral Road and Stevens Road. The condos that are located nearby are Honolulu Tower and the forthcoming perfect Ten located on Bukit Timah Road.

The prices for Wing on Life Garden have been steadily increasing from the time of its completion. They were selling for around $973 per sq ft in July 2003. They was up to $1,430 10 years later in July 2013. Based on resale restrictions that the average price sits at around $2,266 per month.

A resale that is the highest-profitable of Wing On Life Garden is for a 3,305 square foot unit, which was sold at $5.9 million ($1,785 per square foot) in October of this year. It was previously sold for $3.1 million (938 psf) in August 2006. The seller brought in record profits that was $2.8 millions (139%), which amounts to an annualized increase that was 9.3% in 13 years.

However the most profitable deal made in the last week was the purchase of a 1,324 sq 2 ft, two-bedroom property in Miro located on Lincoln Road. The property sold for $2.23 million ($1,684 per sq ft) in July 4 but was a loss for sellers $2.88 million ($2,174 per square foot) at the end of June. So, the seller suffered an estimated loss of 649,000 (23%), which amounts to an annualised cost in the range of 2.3% over 11 years.

Miro Miro is an exclusive freehold condominium situated in the Novena area of District 11. The 85-unit complex offers the variety of one-to four-bedroom units that span from 990 to 2,917 square feet.

The most profitable resale that Miro has ever made Miro was the purchase of 1,324 square feet unit on the 31st floor $2.1 million ($1,586 per square foot) on November 20, 2020. The unit was bought for $3.08 million ($2,330 per square foot) in August of 2011. The result was an estimated loss of $985,00 (32%), which is equivalent to an annualized loss of 4% over the course of eight years.

Prices for units at Miro have slowed since prices reached $1,778 per square foot in December of 2011. In light of caveats the median price of resales is currently $1,658 per square foot. This is lower than most of the condos that are freehold, such as Newton 18, that has an average of $2,318 per square foot, and Newton Edge located on Makeway Avenue with an average price of $1,851 per square foot.