Unit at Grange Residences reaps $3.5 mil profit
By Charlene Chin
/ EdgeProp Singapore |
SINGAPORE (EDGEPROP) - The seller of a unit at Grange Residences, located along Grange Road, made the top gain of $3.48 million over the week of June 28 to July 6. The 2,486 sq ft unit on the second floor was bought for $2.87 million ($1,155 psf) in August 2003 and sold for $6.35 million ($2,554 psf) on July 1. The seller therefore made a 121% profit, or an annualised profit of 5% over almost 18 years. (See also: Unit at The Esta reaps $1.44 mil profit)
The 2,486 sq ft unit at Grange Residences was sold for $6.35 million ($2,554 psf) on July 1 (Credit: Samuel Isaac Chua/ The Edge Singapore)
Located in District 10, Grange Residences was completed in 2004 and has 164 freehold units. It is a two-minute walk to the upcoming Orchard Boulevard MRT Station on the Thomson-East Coast Line.
The second top gain made over the week — an 84% profit of $1.94 million — was at Balmoral Hills, located along Balmoral Park. The 1,841 sq ft unit on the ninth floor was purchased for $2.32 million ($1,258 psf) in February 2006 and sold for $4.25 million ($2,309 psf) on July 2. This means that the seller made an annualised profit of 4% over nearly 151⁄2 years.
Balmoral Hills, in District 10, comprises 62 freehold units and was completed in 2008. It is a four-minute drive to Stevens MRT Station on the Downtown Line.
Meanwhile, a unit sold at Mandarin Gardens, located along Siglap Road in District 15, made the third largest gain over the week, netting a 182% profit of $1.55 million for the seller. The 2,034 sq ft unit on the 22nd floor was bought in August 2003 for $850,000 ($418 psf), and sold for $2.4 mil-
lion ($1,180 psf) on July 1. The seller therefore made an annualised profit of 6% over almost 18 years.
Mandarin Gardens was completed in 1986 and has 1,000 units on a 99-year leasehold. It is an eight-minute walk to the upcoming Siglap MRT Station on the Thomson-East Coast Line.
The most unprofitable deal of the week was the sale of a 2,809 sq ft unit at Cityvista Residences for $5.3 million ($1,887 psf) (Credit: Samuel Isaac Chua/ The Edge Singapore)
On the other hand, the most unprofitable deal of the week was the resale of a 2,809 sq ft unit at Cityvista Residences in District 9. Having sold the property for $5.3 million ($1,887 psf) on July 5, the seller suffered a 27% loss of $1.97 million. The unit was purchased in July 2007 for $7.27 million ($2,587 psf). Over a holding period of 14 years, this translates into an annualised loss of 2%.
Cityvista Residences, located along Peck Hay Road, comprises 70 freehold units, and was completed in 2010. It is a six-minute walk to Newton MRT Interchange Station on the North-South and Downtown Lines.
Check out the latest listings near Grange Residences, Balmoral Hills, Mandarin Gardens, Cityvista Residences, Orchard Boulevard MRT Station, Stevens MRT Station, Siglap MRT Station, Newton MRT Interchange Station
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