Grange Residences, located along Grange Road in District 10, has witnessed a remarkable transaction. During the week of May 30 to June 6, a four-bedroom apartment was sold, marking it the most profitable resale transaction of that period. The 2,669 sq ft unit was purchased for a staggering $8.88 million ($3,327 psf) on May 31. Astonishingly, the seller acquired the property from the developer in April 2004 for $3.3 million ($1,235 psf). This translates to an extraordinary profit of $5.58 million, representing a remarkable 169% capital gain over a holding period of more than 19 years.
Notably, this sale also sets a new psf-price high for Grange Residences. It claims the second spot in terms of profitability, trailing behind another lucrative transaction that occurred just two months earlier. The earlier transaction occurred on March 23, when a 2,583 sq ft unit was sold for a jaw-dropping $8.58 million ($3,321 psf). The initial purchase of this unit, back in February 2004, amounted to $2.85 million ($1,102 psf). Hence, the seller reaped an impressive $5.73 million (201%) profit over a holding period of approximately 19 years.
Grange Residences, developed by Wharf Estates Singapore (formerly Wheelock Properties), is a highly sought-after 164-unit development. Comprising three residential blocks of 18 storeys each, this luxurious condominium offers exclusively four-bedroom units ranging from 2,486 sq ft to 2,852 sq ft.
Moving to another exceptional resale transaction, The Blossomvale, a condominium situated along Dunearn Road in District 21, recorded an impressive sale during the same week. This transaction features a three-bedder measuring 1,367 sq ft, which changed hands for a remarkable $2.95 million ($2,158 psf) on May 31. Interestingly, the seller had initially purchased this unit in January 2007 for a mere $898,000 ($657 psf). As a result, the seller gained a remarkable $2.05 million (229%) after holding the unit for nearly 16½ years. This transaction stands as the most profitable resale recorded at The Blossomvale to date, surpassing the previous record set last December when a 1,399 sq ft unit was sold for $2.8 million ($2,001 psf), resulting in a $1.98 million (241%) profit after nearly 19 years.
The Blossomvale, developed by Wing Tai Holdings, is a 999-year leasehold development completed in 1998. Comprising 220 residences in a single block, the development offers a range of two to four-bedroom apartments, stretching from 840 sq ft to 1,948 sq ft. It is Conveniently located, only a three-minute walk from the King Albert Park MRT Station on the Downtown Line.
These extraordinary transactions highlight the lucrative opportunities available in the real estate scene, with Grange Residences and The Blossomvale offering exceptional returns on investment.