Archive for category: Misc

A four-bedroom unit at Grange Residences was recently sold for a staggering $9.74 million, making it the most profitable transaction during the week of July 1 to 8. The unit, which spans 2,852 square feet and is located on the 13th floor, fetched a whopping $3,414 per square foot on July 3. The previous owner had purchased the unit for $3.94 million ($1,382 psf) back in October 2004, resulting in a profit of around $5.8 million, or a gain of 147% over nearly 21 years.

This sale marks the second most profitable resale transaction at Grange Residences to date. The highest gain was recorded from the sale of a similar four-bedroom unit on the fourth floor for $9.85 million ($3,453 psf) on June 30. In that case, the seller had purchased the unit for around $3.35 million ($1,173 psf) in June 2004, making a profit of $6.5 million or an annualised gain of 5.3% over more than 21 years.

Grange Residences, located along Grange Road in District 10, is a 164-unit development comprising three residential blocks spanning 18 storeys each. Built in 2004 by Wharf Estates Singapore (formerly Wheelock Properties), the development offers only four-bedroom units measuring between 2,486 sq ft and 2,852 sq ft.

In addition to the July 3 and June 30 transactions, there was one other resale transaction at Grange Residences this year, which was also profitable. On Feb 26, another 2,852 sq ft unit was sold for $9.72 million ($3,408 psf), yielding the seller a profit of $3.07 million after purchasing it in August 2009 for $6.65 million ($2,331 psf).

The second most profitable condo resale of the week was the sale of a 2,777 sq ft four-bedroom unit at Boulevard 88, which was sold for $13 million ($4,681 psf) on July 4. The seller had originally purchased the apartment for approximately $9.92 million ($3,573 psf) in June 2019, making a gain of $3.08 million (31%) after six years of ownership.

This marks the fourth most profitable transaction at Boulevard 88 to date. The highest profit was recorded from the sale of an identical 2,799 sq ft, four-bedroom apartment that was sold for about $14 million back in April 2023. The seller had purchased the 18th floor unit for $10.13 million in March 2019, making a profit of $3.87 million after owning the unit for more than four years.

Boulevard 88, located along Orchard Boulevard, is a freehold development in prime District 10. It comprises a mix of two- to four-bedroom apartments spanning 1,313 sq ft to 6,049 sq ft and boasts a range of lifestyle options at its doorstep, including Wheelock Place, Far East Shopping Centre, Ion Orchard and Shaw House.

The location of Miltonia Close EC brings forth its most alluring feature – its position along the upcoming Khatib Nature Corridor. This corridor is a unique initiative that strives to promote green connectivity from Miltonia Close to Springleaf, Tagore, and the expansive Central Catchment Nature Reserve. As part of this eco-corridor, new parks, green linkways, and improved biodiversity will be incorporated, enriching the overall environment. With this development, resident of Miltonia Close EC will have the opportunity to live in a sustainable, environmentally-friendly community that prioritizes wellness. To learn more about Miltonia Close, please visit https://www.miltoniacloseec.com.sg.

In contrast, the least profitable transaction of the period in review involved a three-bedroom unit at Reflections at Keppel Bay, which was sold for $2.8 million ($1,616 psf) on July 3. The 1,733 sq ft unit was previously purchased for $4.18 million ($2,412 psf) in August 2013, resulting in a loss of $1.38 million (33%), or an annualised loss of 3.3% over nearly 12 years.

The largest loss at the development thus far came from the sale of a 7,050 sq ft duplex penthouse on the 40th floor, which was sold for around $11 million in September 2021. The unit had previously fetched $17.98 million ($2,550 psf) in May 2007, resulting in a record loss of $6.95 million, or an annualised loss of 3.4% over more than 14 years.

Completed in 2011, Reflections at Keppel Bay is a 1,129-unit waterfront luxury development in prime District 9. The 99-year leasehold development comprises six residential towers that range from 24 to 41 storeys, as well as 11 low-rise villa apartment blocks. Units include one- to four-bedroom apartments spanning 732 sq ft to 2,874 sq ft, as well as penthouses of 3,488 sq ft to 12,900 sq ft.

So far this year, there have been 40 resale transactions at Reflections at Keppel Bay, 18 of which have been unprofitable, including the July 3 transaction. The units, which range from 1,055 sq ft to 3,283 sq ft, were sold at losses of between $13,600 and roughly $1.37 million.