Resale Four Bedder Grange Residences Nets 58 Mil Profit
Prime District 10’s Grange Residences saw the most lucrative resale deal in the week of July 1 to 8, with a four-bedroom unit on the 13th floor fetching $9.74 million ($3,414 psf) on July 3.
This marks the second most profitable resale transaction at the development, with the highest gain recorded in June this year from the sale of a similar unit on the fourth floor for $9.85 million ($3,453 psf).
Grange Residences, a 164-unit development along Grange Road, offers only four-bedroom units ranging from 2,486 sq ft to 2,852 sq ft. Completed in 2004, the project by Wharf Estates Singapore (formerly Wheelock Properties) consists of three residential blocks spanning 18 storeys.
Besides these two transactions, the development has also seen one other profitable resale deal this year, with a 2,852 sq ft unit transacting for $9.72 million ($3,408 psf) on Feb 26. The previous owner had purchased the unit in August 2009 for $6.65 million ($2,331 psf), resulting in a profit of $3.07 million.
The second most profitable condo resale in the same period was from the sale of a 2,777 sq ft four-bedroom unit at Boulevard 88 for $13 million ($4,681 psf) on July 4. The seller had previously purchased the apartment in June 2019 for around $9.92 million ($3,573 psf), raking in a profit of $3.08 million (31%) after six years of ownership.
Located along Orchard Boulevard in District 10, Boulevard 88 is a freehold development offering a mix of two- to four-bedroom units ranging from 1,313 sq ft to 6,049 sq ft. Completed in 2023, the project comprises 154 units and is in close proximity to lifestyle hubs such as Wheelock Place, Far East Shopping Centre, Ion Orchard and Shaw House.
The least profitable transaction in the week was from the sale of a three-bedroom unit at Reflections at Keppel Bay for $2.8 million ($1,616 psf) on July 3. The previous owner had bought the 1,733 sq ft unit in August 2013 for $4.18 million ($2,412 psf), resulting in a loss of $1.38 million (33%).
Reflections at Keppel Bay is a 1,129-unit waterfront luxury development in District 9, completed in 2011. The 99-year leasehold project comprises six residential towers between 24 and 41 storeys, and 11 low-rise villa apartment blocks. Units range from 732 sq ft to 2,874 sq ft for one- to four-bedroom apartments, and 3,488 sq ft to 12,900 sq ft for penthouses.
To date, the development has seen 40 resale transactions this year, of which 18 are unprofitable, including the July 3 deal. These units, ranging from 1,055 sq ft to 3,283 sq ft, have been sold at losses of between $13,600 and around $1.37 million.
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