Four-bedder at Grange Residences sold for $5.58 mil profit

At Grange Residences in Singapore, the sale of a four-bedroom apartment was the most profitable resale transaction during the week of May 30 to June 6. The unit, measuring 2,669 sq ft, was sold for $8.88 million ($3,327 psf) on May 31. It was purchased by the seller from the developer in April 2004 for $3.3 million ($1,235 psf), resulting in a gain of $5.58 million – a 169% profit over a holding period of more than 19 years.

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This marked the second most lucrative resale transaction at Grange Residences, situated along Grange Road in District 10. It also established a new psf-price high for the development. Just two months prior, a 2,583 sq ft unit fetched $8.58 million ($3,321 psf). The seller bought it for $2.85 million ($1,102 psf) in February 2004, meaning they made a 201% profit after a 19-year ownership.

The most unprofitable transaction during the same week took place at Reflections at Keppel Bay. There, a three-bedroom unit measuring 1,539 sq ft sold for $2.5 million ($1,624 psf). The purchase price in May 2007 was $2.89 million ($1,880 psf), leading to a 14% loss of $393,439 over a 16-year period.

At The Blossomvale, a condo along Dunearn Road in District 21, a three-bedder 1,367 sq ft sold for $2.95 million ($2,158 psf). The seller had purchased it in January 2007 for $898,000 ($657 psf). After holding the unit for nearly 16½ years, they made a 229% gain of $2.05 million. This is the highest psf-price achieved so far in the development. The last record was set in December 2020, when a 1,399 sq ft unit sold for $2.8 million ($2,001 psf). The seller made a 241% profit after holding it for 19 years.

The Blossomvale is a 999-year leasehold development by Wing Tai Holdings that was completed in 1998. It comprises 220 residences in a single block, with a mix of two to four-bedroom apartments ranging from 840 sq ft to 1,948 sq ft. It is a three-minute walk to King Albert Park MRT Station on the Downtown Line.

At Reflections at Keppel Bay, a 1,129-unit waterfront luxury development in District 9, 15 unprofitable transactions have taken place this year according to EdgeProp Research. Units have sold at losses of from $4,200 to $1.6 million, with sizes ranging from 893 sq ft to 3,391 sq ft.

Overall, the most profitable and most unprofitable residential transactions in Singapore for the week of May 30 to June 6 proved noteworthy. Grange Residences and Reflections at Keppel Bay both established new psf-price highs and lows, while The Blossomvale recorded its most profitable resale transaction to date.