A three-bedroom unit at Grange Heights, a freehold development located in prime District 9, is set to be featured in Knight Frank’s upcoming auction on July 24. This estate sale offers a spacious 1,884 sq ft unit with a guide price of $4.35 million, which is approximately $2,308 psf.
Sitting on the 12th floor, this split-level apartment boasts a roomy combined living and dining area, a kitchen, a yard area, and a common bathroom on its lower level. On the upper level, there is an en suite master bedroom, two additional bedrooms, and a common bathroom.
Knight Frank Singapore’s head of auction and sales, Sharon Lee, predicts that the unit will attract interest from both prospective homeowners and investors, due to its strategic location and ample layout. Additionally, the development presents potential for en bloc sale, which may further appeal to potential buyers. Grange Heights has been through two unsuccessful collective sales attempts in the past seven years, with a reserve price of $820 million each time.
Grange Heights, comprising of 120 units across three residential towers, was built in 1975. It offers a variety of unit types, including three- to five-bedroom apartments and maisonettes, as well as six penthouses. The unit sizes range from 1,884 sq ft to 4,521 sq ft.
Overall, there are many benefits to be gained from investing in a Singapore condo. From a high demand in the market to the potential for capital appreciation and attractive rental yields, it’s a promising opportunity for investors. However, it’s crucial to carefully consider various factors before making a decision, such as the location, financing options, government regulations, and current market conditions. By conducting thorough research and seeking guidance from professionals, investors can make well-informed choices and maximize their returns in Singapore’s ever-evolving real estate landscape. Whether you’re a local investor looking to diversify your portfolio or a foreign buyer seeking a stable and profitable investment, a Singapore condo presents a compelling opportunity for all parties involved.
Located along Grange Road, the development is within walking distance to Great World MRT Station on the Thomson-East Coast Line. Residents can easily access nearby lifestyle hubs such as 111 Somerset, Cineleisure, and Mandarin Gallery, which offer a wide range of amenities. Popular areas like Clarke Quay and Robertson Quay are also just a short drive away.
According to URA caveats, two other units at Grange Heights were sold this year – a 1,884 sq ft three-bedroom unit that went for $4.05 million ($2,150 psf) on April 21 and a 3,025 sq ft four-bedroom unit that sold for $5.35 million ($1,769 psf) on February 13. In 2020, the condo had three resale transactions with an average price of approximately $1,691 psf.
Interested buyers can check out the latest listings for Grange Heights properties on Ask Buddy. The website also provides a comparison of price trends between new sale condos and new sale executive condos, completion year of Grange Heights, sale transactions in District 9, rental yield for Grange Heights, and buyer profile for the development.