Seller of Grange Residences unit reaps $3.9 mil profit

By Charlene Chin
/ EdgeProp Singapore |
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SINGAPORE (EDGEPROP) - The seller of a unit at Grange Residences, along Grange Road, made the top gain of $3.9 million during the week of Feb 9 to 16. The 2,852 sq ft unit on the eighth floor was bought for $3.48 million ($1,221 psf) in May 2004 and sold for $7.38 million ($2,587 psf) on Feb 16. The seller therefore made a 112% profit, or an annualised profit of 5% over nearly 17 years.
GRANGE-RESIDENCES - EDGEPROP SINGAPORE
A 2,852 sq ft unit at Grange Residences fetched $7.38 million when it sold on Feb 16 (Credit: The Edge Singapore)
Located in District 10, Grange Residences was completed in 2004, and comprises 164 units. The freehold development is a two-minute walk from the upcoming Orchard Boulevard MRT Station on the Thomson-East Coast Line.
The second top gain made over the week — a 110% profit of $2.67 million — was at Camelot By-The-Water, along Tanjong Rhu Road. The 3,035 sq ft unit on the 12th floor was purchased for $2.42 million ($796 psf) in October 2000 and sold for $5.09 million ($1,676 psf) on Feb 10. This means that the seller made an annualised profit of 4% over 20 years.
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Camelot By-The-Water is in District 15. It comprises 99 units on a 99-year leasehold, and was completed in 2000. The development is a five-minute walk from the upcoming Tanjong Rhu MRT Station on the Thomson-East Coast Line.
A unit sold at Signature Park, along Toh Tuck Road in District 21, made the third largest gain over the week, netting a 100% profit of $1.21 million for the seller. The 1,701 sq ft unit on the ninth floor was bought in October 1995 for $1.21 million ($711 psf), and sold for $2.42 million ($1,423 psf) on Feb 16. The seller therefore made an annualised profit of 3% over 25 years.
Signature Park comprises 928 freehold units, and was completed in 1998. It is a 13-minute walk from Beauty World MRT Station on the Downtown Line.
BLD-REIGNWOOD-HAMILTON-SCOTTS-THE-SCOTTS-TOWER-SCOTTS - EDGEPROP SINGAPORE
The seller of a 2,756 sq ft unit at Reignwood Hamilton Scotts incurred the top loss of $1.42 million (Credit: Samuel Isaac Chua/ The Edge Singapore)
However, the greatest loss incurred over the week in review was from the resale of a 2,756 sq ft unit at Reignwood Hamilton Scotts in District 9. Having sold the property for $7.08 million ($2,569 psf) on Feb 10, the seller suffered a 17% loss of $1.42 million. The unit was purchased in June 2015 for $8.5 million ($3,085 psf). Over a holding period of nearly six years, this translates into an annualised loss of 3%.
Reignwood Hamilton Scotts, along Scotts Road, comprises 56 freehold units, and was completed in 2012. It is a three-minute walk from Newton MRT Interchange Station on the Downtown and North-South Lines.
Ask Buddy
Compare price trend of HDB vs Condo vs Landed
Condo projects with most profitable transactions
Condo projects with most expensive average PSF
Most unprofitable landed transactions in past 1 year
Compare price trend of Condo new sale vs EC new sale
Compare price trend of HDB vs Condo vs Landed
Condo projects with most profitable transactions
Condo projects with most expensive average PSF
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Compare price trend of Condo new sale vs EC new sale

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