Grange 1866 Sets New High 3393 Psf
Grange 1866, a freehold development, has become the top condo in Singapore that saw the highest new psf-price high in the week of November 22 to 29, 2020. A new price peak of $3,393 psf was recorded from the sale of an 818 sq ft, two-bedroom unit that was sold for $2.78 million on November 27. This exceeded the previous record of $3,390 psf set in June last year when a 764 sq ft unit was sold for $2.59 million.
Since the beginning of this year, 12 units have been sold at Grange 1866, with an average price of $3,181 psf. The highest-priced unit sold at the development this year was a 1,012 sq ft, two-bedroom unit on the 16th floor, that was sold for $3.02 million ($2,989 psf). Currently, 45 out of the 60 units at the 16-storey development have been sold, which translates to a take-up rate of 75%.
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The 999-year leasehold Hill House came in second with a new psf-price high of $3,378 per sq ft. This is the second time in November that the boutique condo has hit a new high. The latest peak was achieved when a 452 sq ft, two-bedroom unit on the 8th floor was sold for about $1.53 million on November 25. This surpassed the previous record of $3,267 psf set on November 11 when a similarly sized two-bedroom unit on the fifth floor was sold for about $1.48 million.
Since the beginning of the year, 12 units have been sold at Hill House at an average price of $3,108 psf. The lowest-priced unit that was sold at the development this year was a 753 sq ft, three-bedroom unit on the fourth floor, which was sold for $2.21 million ($2,934 psf) on October 28. The 72-unit development is situated on Institution Hill, off River Valley Road, and is set to be completed in 2026.
The Cosmopolitan, a 228-unit condo located along Kim Seng Road, saw a new psf-price high of $2,817 psf from the sale of a 1,324 sq ft, three-bedroom unit on the 26th floor for $3.73 million on November 25. This is 0.7% higher than the previous peak of $2,795 psf set in October last year when a 1,324 sq ft, three-bedroom unit on the 17th floor was sold for $3.7 million.
The Cosmopolitan was completed in 2008 and consists of two-bedroom units measuring 1,141 sq ft, three-bedroom units measuring from 1,324 to 1,399 sq ft, and four-bedroom units measuring 1,679 sq ft. The sellers of the 26th-floor unit had purchased it for about $2.58 million, or $1,950 psf, in November 2010, and made a profit of about $1.15 million. Nearby the prime District 9 condo, there is a River Valley Primary School, and Great World MRT Station on Thomson-East Coast Line. Great World City is also situated in the vicinity.