Resale of four-bedder at The Grange sees $3.85 million profit
A luxurious residential unit in Wing On Life Garden on Bukit Timah Road, located in prime locale District 10, was recently purchased by a investor for $8.43million. The seller which has previously bought at $6.1million in July 2K19 earned a profit of $2.33 million (38%), which equated to a gain of 9.2% over a period of four years.. This in return marks the second most profitable sale during the week.
Wing on Life Garden prices have recorded strong increases since its stakeholder completion consistently. Units which previously command at $973 psf in July 2003, and had skyrocketed to $1,430 psf a decade later in July 2K13. resale caveats evidently reveals the median price of $2,266 psf this month. A 3,305 sq ft unit that was transacted for $5.9 million ($1,785 psf) in October 2K19 was most profitable resale at Wing On Life Garden which previously fetched $3.1 million (938 psf) in August 2006. Thus, the seller raked in a record profit of $2.8 million (139%), which translates to an annualised gain of 9.3% in 13 years. The most money losing transaction on the contrary lodged during the week was the sale of a 1,324 sq ft, two-bedroom unit at Miro on Lincoln Road. The unit fetched $2.23 million ($1,684 psf) on July 4, but it had cost the seller $2.88 million ($2,174 psf) in June 2K12. Thus, the seller saw a loss of almost $649,000 (23%), which translates to an annualised loss of 2.3% over 11 years.
A single-loaded 4-bedroom 2,282 square feet apartment residential unit on the #11 in The Grange condominium was recently sold to a purchaser on 10th july 2K23 with a gross nett profit of $3.85million. Thus making it the highest transacted price of $7.2million. The premium unit with concourse skyline view is bidded successfully by the seller in September 2005 before property boom. $3.85 million profit was bagged by the seller, which equates to an annualised profit of 4.4% over almost two decades. This deal at The Grange since April 2008, marks the 2nd highest transacted price According to lodgement of the caveats lodged on URA web portal,which a duplex penthouse units for sold for $11 million and owner make a profits of $4.2million as the unit was bought at $6.8million.
According to the recent datas recorded by URA, sales transactions in The Grange condominium have tapered down, 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 has however reduced slightly over the past five years to about $$2,589 psf this month.
