The most lucrative resale deal that took place between July 4 and 11 was the selling of a 2,282-square-foot flat at The Grange. On July 10th, a four-bedroom, eleventh-floor condo sold for $7.2 million ($3,155 psf). This condo was acquired in September 2005 for $3.35 million ($1,469 psf). This resulted in a profit of $3.85 million (115%) for the seller or 4.4% per year over almost 18 years.
URA restrictions aside, this is The Grange’s second most lucrative sale ever. In April 2008, a duplex penthouse measuring 4,456 square feet sold for $11 million ($2,468 per square foot). In September 2005, the apartment was sold for $6.8 million ($1,526 psf). The end outcome was a $4.2 million profit (61%), or 20% annualized over around 2.5 years.
There are 95 condos at The Grange, which is located on Grange Garden in desirable District 10. In 2008, construction ended on the high-end freehold building. The condo is near Orchard Boulevard MRT Station on the Thomson-East Coast Line, which is accessible through Grange Road.
It’s in close proximity to Good Class Bungalows on Chatsworth Park and the landed housing enclave along One Tree Hill. On neighboring Orchard Boulevard, you’ll find a number of prestigious high-end condo developments including 3 Orchard By-The-Park, Cuscaden Reserve, Park Nova, Boulevard 88, and Four Seasons Park.
According to data on resale caveats compiled by EdgeProp Singapore, sales prices at The Grange have leveled out since its completion. The development’s average price went from $2,087 psf in July 2008 to $2,549 psf in July 2018. The price rise has slowed over the previous five years, leveling out at around $$2,589 psf this month.
When compared to other nearby communities, The Grange still has one of the highest median home sale prices. Comparable high-end developments, such as the nearby Parkview Eclat ($3,264 psf) and Cliveden at Grange ($3,026 psf) on Grange Road, are more expensive. The highest per-square-foot pricing in the area is for recently released developments like 3 Orchard By-The-Park ($3,754) and Park Nova ($4,521).
The sale of a 3,498-square-foot condo in the Wing On Life Garden development on Bukit Timah Road was the week’s second most lucrative real estate transaction. On July 10th, the property was sold for $8.43 million, or $2,410 per square foot. In November 2019 it was acquired for $6.1 million, which works out to $1,744 per square foot. This resulted in a gain for the seller of $2.33 million (or 38%), or 9.2 percent a year on average, for nearly four years.
There is a freehold condo called Wing On Life Garden in the very desirable District 10 neighborhood of Tanglin. The 81-unit condo building opened in 1982. Nearby schools include Singapore Chinese Girls’ School, Anglo-Chinese School (Barker Road), St. Joseph’s Institution, Tembusu Grand, Tembusu Grand Floor Plan, Tembusu Grand Balance Unit Chart, and Catholic Junior College, thanks to its convenient Bukit Timah location.
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