Resale of four-bedder at The Grange sees $3.85 million profit
A single-loaded apartment residential unit on the #11 in The Grange condominium was recently sold to a purchaser on 10th july 2K23 with a gross nett profit of $3.85million, thus making it the highest transacted price of $7.2million. The single loaded 4-bedrooms 2,282 square foot unit was previously purchased by the seller in September 2005 before property boom, clocking in a whopping profits of $3.85 million which equates to an annualised profit of 4.4% over almost two decades. This deal at The Grange since April 2008, marks the 2nd highest transacted price According to lodgement of the caveats lodged on URA web portal,which a duplex penthouse units for sold for $11 million and owner make a profits of $4.2million as the unit was bought at $6.8million.
The Grange condominium sales transactions have tapered down in recent years, according to datas extracted by URA, compared to the period after its completion. the development median transacted price was about $2,087 psf in July 2008 and had increased to $2,549 psf by July 2K18. The price has however reduced slightly over the past five years to about $$2,589 psf this month.
A prime unit on the prime locale District 10, Wing On Life Garden on Bukit Timah Road, has recently exchanged hand for $8.43million which was previously bought at $6.1million in July 2K19. Hence, making it the second most profitable sale during the week. Thus, the seller earned a profit of $2.33 million (38%), which equated to a gain of 9.2% over a period of four years.