Grange 1866 Sets New High 3393 Psf
for latest transaction
Grange 1866, a freehold development, took the top spot for condos that recorded a new psf-price high in the week of Nov 22 to 29. The latest price peak of $3,393 psf was achieved through the sale of a two-bedroom unit of 818 sq ft for $2.78 million by the developer on Nov 27. This 14th-floor unit narrowly surpassed the previous record of $3,390 psf set back in June last year when a unit of 764 sq ft changed hands for $2.59 million.
Grange 1866 has seen 12 new sale transactions this year with an average price of $3,181 psf. The most expensive unit sold at the development this year was a two-bedroom unit of 1,012 sq ft on the 16th floor, which was sold for $3.02 million ($2,989 psf). So far, 45 out of the 60 units at Grange 1866 have been sold, which amounts to 75% of the project.
Grange 1866, a freehold development expected to be completed by the end of 2025, is located on Grange Road in prime District 10. It comprises of a single 16-storey residential block situated on a 20,322 sq ft, freehold site. The units range from one- to two-bedrooms, measuring between 527 and 1,012 sq ft.
Hill House took the second spot for condos that recorded a new psf-price high during the period in review. The boutique condo hit a new record price for the second time in November, with the latest peak standing at $3,378 psf. This was achieved through the sale of a two-bedroom unit of 452 sq ft on the 8th floor by the developer for about $1.53 million on Nov 25. This sale surpassed the previous record of $3,267 psf by 3.4%, which was set on Nov 11 when a similar unit on the fifth floor was sold for about $1.48 million.
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Hill House, a 999-year leasehold condo located on Institution Hill, off River Valley Road, in prime District 9, has seen 12 units sold by the developer since the beginning of this year at an average price of $3,108 psf. The lowest-priced unit sold this year in terms of psf-price was a three-bedroom unit of 753 sq ft on the fourth floor, which was sold for $2.21 million ($2,934 psf) on Oct 28.
Expected to be completed in 2026, Hill House comprises of one-bedroom and one-bedroom-plus-study units measuring between 431 and 452 sq ft; two-bedroom units of 624 sq ft; and three-bedroom apartments of 753 sq ft. According to URA caveats, 30 units (42%) have been sold since the launch of the condo in November 2022, at an average price of $3,054 psf.
The Cosmopolitan, a completed 228-unit condo located along Kim Seng Road in prime District 9, took the third spot with a new psf-price high recorded through the sale of a three-bedroom unit of 1,324 sq ft on the 26th floor for $3.73 million, or $2,817 psf, on Nov 25. The new record is just 0.7% higher than the previous peak of $2,795 psf, which was set in October last year when a unit of the same size on the 17th floor was sold for $3.7 million.
This sale resulted in a profit of about $1.15 million for the sellers who had bought the unit for about $2.58 million, or $1,950 psf, in November 2010. The Cosmopolitan offers two-bedroom units of 1,141 sq ft, three-bedroom units of 1,324 to 1,399 sq ft, and four-bedroom units of 1,679 sq ft. The condo is located within 1km of River Valley Primary School and is in walking distance of Great World MRT Station on the Thomson-East Coast Line. It is also close to Great World City, which offers a variety of dining and retail options.
There were no new psf-price lows recorded during the period in review. Interested buyers can check out the latest listings for Grange 1866, Hill House, and The Cosmopolitan for more information.
