Resale of four-bedder at The Grange sees $3.85 million profit
A 11th storey residential unit with a single plate sized 2,282square foot in The Grange condominium was recently sold to a buyer in the week 2 of july 2K23 with a gross nett profit of $3.85million. This marks the highest price of $7.2million in the second week of July 2K23. The 4-bedrooms unit was purchased by the seller back then during the property boom period in September 2005, raked in a $3.85 million whopping profits, which translates to an annualised profit of 4.4% over almost two decades. this marks the second most profitable sale at The Grange since April 2008 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 sales transaction at The Grange condominium have tapered off in recent years Extracted datas of resale caveats 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 3,349sft unit on Wing On Life Garden on Bukit Timah Road which was previously bought at $6.1million in July 2K19, was recently sold for $8.43 million, making it the second most profitable sale during the week. Thus, the seller earned a profit of $2.33 million (38%), which translates to an annualised gain of 9.2% over almost four years.
