Resale of four-bedder at The Grange sees $3.85 mil profit
A residential unit in The Grange condominium with a floor plate of 2,282 sq ft sold at the highest profit in the second week of July 2K23. The level eleven four-bedroom unit was sold for $7.2 million ($3,155 psf) on July 10. The seller which purchased the 4-bedrooms unit in September 2005, raked in a hefty profit of $3.85 million (115%), which translates to an annualised profit of 4.4% over almost 18 years. According to caveats lodged on URA portal online, this makes it the second most profitable sale at The Grange. The record transaction till date is the 4,456 sq ft, duplex penthouse which transacted for $11 million ($2,468 psf) in April 2008. The unit previously was purcahsed at $6.8 million ($1,526 psf) in September 2005. This resulted in a profit of $4.2 million (61%), which translates to an annualised profit of 20% over around 2.5 years.
Extracted datas of resale caveats by URA, the sales transaction at The Grange condominium have tapered off in recent years 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 increase has however moderated over the past five years to about $$2,589 psf this month.