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A four bedroom home in Grange Residences was the most profitable resale deal reported during the period of May 30 through June 6. The 2,669 square foot apartment was sold at $8.88 million ($3,327 per square foot) at the end of May. The seller bought the property at the expense of developer at $3.3 million ($1,235 per square foot) during April of 2004. The seller earned an income that was $5.58 million, which is an 170% profit over a time of more than 19 years.
It is the second most profitable resale deal that took place at the development. It also sets a new high for the psf-price at Grange Residences. The most profitable sale took place two months prior when a 2,583 square foot unit was sold for $8.58 million ($3,321 per square foot) on the 23rd of March. The seller bought the property for $2.85 million ($1,102 per square foot) in February of 2004, which translates to a profit in the amount of $5.73 Million (201%) over a period of approximately 19 years.
It is located along Grange Road in District 10, Grange Residences is a 164-unit development developed owned by Wharf Estates Singapore (formerly Wheelock Properties). The condo was completed in 2004. condo is composed of three residential blocks, each of which is 18 stories high. The units are all four-bedders with a total area of between 2,486 sq feet and 2,852 sq feet.
The second-highest profit sale transaction in the week under review took place in The Blossomvale, a condo located along Dunearn Road in District 21. The three-bedder with 1,367 square feet sold in the amount of $2.95 million ($2,158 per square foot) at the end of May. The seller, who bought it in the month of January for $8898,000 ($657 per square foot) gained a profit in the amount of $2.05 millions (229%) after holding the property for more than sixteen and a half years. It is the most profitable sale transaction that has been recorded by The Blossomvale to the date. It was selling of 1,399 square foot unit in December of last year. The property sold for $2.8 million ($2,001 per sq ft) and the buyer earning $1.98 million (241%) after holding it for almost 19 years.
The Blossomvale is an 999-year leasehold development of Wing Tai Holdings that was completed in 1998. The Blossomvale comprises 220 dwellings in a single block apartments are two- to four-bedroom homes ranging with sizes ranging from 840 square feet to 1,948 square feet. It’s just a 3-minute walk towards King Albert Park MRT Station located on the Downtown Line.
The most profitable deal of the week under review was in Reflections located at Keppel Bay. Three-bedroom, 1,539 sq feet unit was purchased at $2.5 million ($1,624 per square foot) on May 31. The seller purchased the unit at $2.89 million ($1,880 per square foot) at the end of May 2007 so they incurred an income totaling $3934,439 (14%) across a time period of less than 16 years.
Reflections Keppel Bay Reflections at Keppel Bay a waterfront luxury development of 1,129 units located in the District 9 area of Keppel Land. The 99-year leasehold development comprises six residential towers that range from the heights of 24 and 41 stories along with 11 lower-rise blocks.
The condominium has witnessed an abundance of resales transactions over the past year, and a number of them have been completed at a lower price than their price of purchase. The data compiled from EdgeProp Research shows that Reflections at Keppel Bay has seen 15 non-profitable transactions as of this year, based on caveats lodged. The units, ranging from 893 sq ft to 3,391 sq feet, were sold at loss ranging from $4200 between $4,200 and $1.6 million.