Four Bedder Grange Residences Reaps 465 Mil Profit
Grange Residences secures premium for its views
The period from August 19 to September 2 saw the most profitable resale transaction at Grange Residences, with a four-bedroom unit selling for $8.5 million. The seller, who purchased the 2,583 sq ft unit in 2006 for $3.84 million, made a profit of $4.65 million (121%). This translates to an annualized profit of 4.2% over 19 years.
This year, there have been four resale transactions at Grange Residences, all of which have been profitable. The highest gain so far this year was a 2,852 sq ft four-bedroom unit on the fourth floor that sold for $9.85 million ($3,453 psf) on June 30. The unit was bought in 2004 for $3.35 million ($1,173 psf), resulting in a profit of $6.5 million (194%) and an annualized profit of 5.3% over 21 years.
Haig Court also saw a profitable transaction during this period, with a 1,550 sq ft unit selling for $3.3 million ($2,129 psf) on Aug 28. The seller purchased the unit in 2004 for $926,900 ($598 psf), earning a profit of $2.37 million (256%) and an annualized profit of 6.2% over 21 years. This is the most profitable resale at Haig Court so far this year, with all 10 transactions at the condo being profitable.
The most expensive transaction during this period involved a 1,539 sq ft unit at Marina One Residences, which sold for $3.22 million ($2,092 psf) on Aug 28. However, this was also the most unprofitable deal, with the seller incurring a loss of $506,331 (14%). They had purchased the unit in 2018 for $3.73 million ($2,421 psf). So far this year, there have been 15 resale transactions at Marina One Residences, with only one being profitable and the rest incurring losses ranging from $32,000 to $703,250.
Completed in 2004, Grange Residences is a freehold luxury development in prime District 10. The 164-unit development consists of three 18-storey blocks with four-bedroom units ranging from 2,486 to 2,852 sq ft. Based on a compilation of resale caveats by EdgeProp Singapore, the average price at Grange Residences has increased from $1,670 psf in September 2005 to $2,915 psf in September 2020, with the current average standing at approximately $2,900 psf.
Meanwhile, Haig Court is a freehold development in District 15, completed in 2004. With 360 units, the average price here is $2,080 psf. The condo is located next to four schools — Tanjong Katong Girls’ School, Tanjong Katong Secondary School, Tanjong Katong Primary School, and the Canadian International School (Tanjong Katong Campus). It is also close to two new 99-year leasehold developments, Emerald of Katong and Tembusu Grand, as well as other new projects in the vicinity such as The Continuum and Grand Dunman.
On the other hand, Marina One Residences is a 1,042-unit condo in District 1, part of the Marina One integrated development that was completed in 2017. The average price at Marina One Residences fell from $2,475 psf in September 2020 to $2,089 psf this month. The newest private residential project in Marina Bay is One Marina Gardens, which was launched in April. With 937 units, it has moved 514 units (54%), with an average price of $2,951 psf.
The Sembawang Road EC stands out for its exceptional location near not one, but two MRT stations—Canberra MRT and Sembawang MRT. These stations, which are part of the well-established North-South Line (NSL), are within close proximity to the property. The newer station, Canberra MRT, is situated closer to the EC, offering residents a convenient and efficient way to travel to the central and southern areas of Singapore. With just a 25-minute train ride to Orchard, Sembawang EC is an excellent choice for those working in the city center. In addition, the nearby Sembawang MRT provides residents with a viable alternative, especially during peak hours when station crowding can be a concern. To top it off, for more information on the luxurious Sembawang EC Canberra, visit their website.