Last July 2018, EdgeProp Singapore reported that a four-bedroom unit at The Claymore raked in a 64% profit of $3.43 million. Learn more about which property investments reaped the highest returns in the week of June 12 to 19.
The Claymore at District 9
A 3,348 sq ft unit on the 14th floor of The Claymore was sold for $8.8 million, or $2,629 psf, on June 19. This resale bagged the title of the most profitable deal in the property market this week, with the seller walking away with a total of $3.43 million in profit. The condo unit was previously bought in 1995 for $5.37 million or $1,604 psf. This translates to an annualized gain of 2.2% after 22 years. This was the third condo resale in The Claymore so far this year.
Despite the significant returns, this deal wasn’t the most profitable transaction at the condominium this year. The record belongs to a transaction on May 3, where a four-bedroom unit changed hands for a 115% profit of $4.7 million. The seller initially purchased the 3,348 sq ft unit in 2004 for $4.1 million or $1,225 psf. After more than a decade, the 22nd-floor home was resold for $8.8 million or $2,269 psf. This meant that the seller earned an annualized profit of 5.5% in 14 years.
The Claymore is a freehold condominium development built in 2003 by Tokyo Land Corporation Singapore Pte Ltd, a mid-sized real estate firm in Singapore. It consists of 146 units across two 25-storey towers. Located along Claymore Road at prime District 9, the luxury condo is situated in a quiet but prestigious neighbourhood surrounded by various landmarks and public transportation hubs. It’s just five minutes away from Orchard Road’s shopping and entertainment strip and just eight minutes away from the Orchard MRT Station.
72 Grange at District 10
Another transaction that earned high yields in the same week was a freehold unit at 72 Grange. The condo for sale was a 4,306 sq ft, three-bedroom unit located on the fourth floor of the development. It changed hands on June 13 for a total of $7.45 million or $1,730 psf. The original owner previously bought it in 1995 for a lower price of $4.3 million or $999 psf. This meant that the seller made a whopping 73% profit of 3.15 million. This roughly translates into a 2.5% annualized profit in its 22-year holding period.
This transaction was the second resale at 72 Grange so far in 2018. This year’s first transaction was with a two-bedroom unit that gained a 70% profit of $3 million. The aforementioned unit was a 3,853 sq ft unit located on the seventh floor of the condominium. It was initially purchased in 2006 for $4.3 million or $1,116 psf, and it later changed hands at a price of $7.3 million or $1,894 psf. This meant that the seller walked away with an annualized profit of 4.7% after its 11-year holding period.
These two units at 72 Grange were the first resold condo units since 2011. According to the latest property news by EdgeProp Singapore, no units changed hands for almost seven years. The most profitable transaction in 72 Grange’s history is in 2011, when a 3,627 sq, ft two-bedroom unit was sold for $9.75 million or $2,688. It was previously purchased for a much lower price of $3.15 million or $868 psf in 2005. This sale in 2011 allowed the seller to pocket a whopping 210% yield of $6.6 million. This roughly translates to an annualized profit of 20% in its 6-year holding period.
72 Grange is a luxury condominium development completed in 1995. It was developed by Hasen Pte Ltd and was led by Kheng Leong Pte Ltd, an award-winning real estate firm. The development has a limited number of freehold units, only 18 apartments to be exact. Located at Grange Road in prime District 10, 72 Grange is one of the many luxury condominiums in the prestigious neighbourhood. It was designed by the internationally recognized architecture firm, Bedmar and Shi, and its landscaping was led by the leading botanical studio, Humid House.
The luxury development is conveniently located near the Orchard MRT Station and the Great World City MRT Station. By car, the Central Business District is only a 10-minute drive away. The Orchard Road shopping belt is also just conveniently nearby/