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A four-bedroom unit at Grange Residences has made headlines by being the most profitable resale transaction in the past two weeks, from Aug 19 to Sept 2. According to the latest data, the seller of the 2,583 sq ft unit pocketed a profit of $4.65 million (121%) when it was sold for $8.5 million ($3,290 psf) on Aug 21. This translates to an impressive annual profit of 4.2% over a period of 19 years.

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This transaction marks the fourth resale at Grange Residences this year, and all four deals have been profitable with gains ranging from $6.5 million to $3.07 million. The largest profit seen at this luxury freehold development so far this year involved a 2,852 sq ft, four-bedroom unit on the fourth floor that changed hands for $9.85 million ($3,453 psf) on June 30. The unit was purchased for $3.35 million ($1,173 psf) in 2004, making the seller a profit of $6.5 million (194%) and an annualised profit of 5.3% over a period of 21 years.

Located in prime District 10 on Grange Road, Grange Residences consists of three 18-storey blocks with 164 units, all of which are four-bedroom units ranging from 2,486 to 2,852 sq ft. According to data compiled by EdgeProp Singapore, the resale price at Grange Residences has steadily increased from around $1,670 psf in September 2005 to $2,915 psf in September 2020, with the current average price standing at about $2,900 psf.

Coming in second for the most profitable resale transaction during the same period is a four-bedroom unit at Haig Court, located in prime District 15 on Haig Road. The 1,550 sq ft unit on the fourth floor was sold for $3.3 million ($2,129 psf) on Aug 28, making the seller a profit of $2.37 million (256%) and an annualised profit of 6.2% over 21 years. This has also been the most profitable resale transaction at Haig Court recorded so far this year, with a total of 10 resale transactions at the condo, all of which have been profitable thus far.

The deal with the second-highest profit at Haig Court this year involves another 1,550 sq ft four-bedder on the fifth floor that was sold for $3.18 million ($2,052 psf) on May 26. The seller earned a profit of $2.28 million (254%) and an annualised profit of 6.2% over a period of 21 years. Completed in 2004, Haig Court is a freehold development that comprises 360 units and is located next to four schools, including Tanjong Katong Girls’ School, Tanjong Katong Secondary School, Tanjong Katong Primary School, and the Canadian International School.

However, not all resale transactions have been profitable for sellers in the past two weeks. The most unprofitable deal during the period involved a 1,539 sq ft unit at Marina One Residences on Aug 28, where the seller incurred a loss of $506,331 (14%) when the unit was sold for $3.22 million ($2,092 psf). The unit was purchased just two years earlier for $3.73 million ($2,421 psf). According to data from EdgeProp, there have been 15 resale transactions at Marina One Residences so far this year, with only one deal proving to be profitable. The rest have suffered losses ranging from $32,000 to $703,250.

Marina One Residences is a 1,042-unit condo that is part of the Marina One integrated development in District 1. Completed in 2017, the private residential component of the project has seen prices fall from around $2,475 psf in September 2020 to $2,089 psf this month. The most recent project in Marina Bay is One Marina Gardens, which comprises 937 units and was launched for sale in April. To date, the project has sold 514 units (54%), with an average price standing at $2,951 psf.

As the property market continues to heat up and prices increase, it is important for buyers to do their due diligence and research before investing in a property. With experienced agents at EdgeProp Singapore, you can access the latest market insights and data to help you make informed decisions. Whether you are looking to buy, sell, or rent a property, EdgeProp has got you covered.