A four-bedroom apartment at Grange Residences sold for a record breaking $8.88 million ($3,327 psf) on May 31, marking the most profitable resale transaction for the week of May 30 to June 6. Having been purchased from the developer in April 2004 for $3.3 million ($1,235 psf), the seller made a remarkable capital gain of $5.58 million, or a 169% increase over more than 19 years.

This is the second case of a highly profitable resale to occur at Grange Residences, with a 2,583 sq ft unit fetching $8.58 million earlier on March 23 ($3,321 psf). Here, the buyer had acquired the unit for $2.85 million ($1,102 psf) in February 2004, investing for a total of around 19 years and obtaining a 201% increase in capital gain of $5.73 million.

Altura EC is also a great spot to go shopping, with several malls and retail outlets in the vicinity, including Bukit Batok West Mall, HillV2 Shopping Centre, and Westgate.

Grange Residences is a 164-unit development in District 10 by Wharf Estates Singapore (formerly Wheelock Properties), consisting of three 18-storey residential blocks. All the units come in the form of four-bedroom apartments ranging from 2,486 sq ft to 2,852 sq ft.

The highest loss incurred during the week was seen at Reflections at Keppel Bay. A three-bedroom, 1,539 sq ft unit sold for $2.5 million ($1,624 psf) on May 31, with the seller having purchased it for the original value of $2.89 million ($1,880 psf) in May 2007. This resulted in a decrease of $393,439 (14%) in capital, across a holding period of just over 16 years.

The Blossomvale in District 21 also made it to the radar for the week, with a three-bedder of 1,367 sq ft being sold for $2.95 million ($2,158 psf). The seller had taken possession of the unit in January 2007 for the original cost of $898,000 ($657 psf). This meant they made a whopping 229% gain, amounting to $2.05 million over a almost 16½-year investment. This is the most profitable resale transaction to have taken place at The Blossomvale to date.

The Blossomvale is a 999-year leasehold development by Wing Tai Holdings that was completed in 1998, consisting of 220 apartments of a mix of two to four-bedroom units from 840 sq ft to 1,948 sq ft.

In comparison, Reflections at Keppel Bay is a 99-year leasehold development that includes six residential towers of 24-41 storeys and 11 low-rise villa apartment blocks, with a total of 1,129 units. Unfortunately, it has seen 15 unprofitable transactions reported this year according to EdgeProp Research, with units of 893 sq ft to 3,391 sq ft being sold at losses ranging between $4,200 and $1.6 million.