Grange 1866 hits new high of $3,393 psf

Freehold development Grange 1866 topped the list of condominiums hitting new psf-price highs during the week of Nov 22 to 29, clocking a new peak of $3,393 psf. The 14th-floor, 818 sq ft unit narrowly surpassed the development's previous high of $3,390 psf, set in June last year when a 764 sq ft unit changed hands for $2.59 million.

So far this year, Grange 1866 has seen 12 new sale transactions at an average price of $3,181 psf. In absolute terms, the most expensive unit sold at the development this year is a 1,012 sq ft, two-bedroom unit on the 16th floor, which fetched $3.02 million ($2,989 psf). To date, 45 units (75%) in the 60-unit project have been sold.

Located in prime District 10, Grange 1866 is slated for completion by late 2025. The freehold development comprises a single 16-storey residential block on a 20,322 sq ft site. Units range from one- to two-bedroom apartments spanning between 527 and 1,012 sq ft.

Hill House also set a new psf-price high. The boutique condominium established a new record for the second time in November, reaching a fresh peak of $3,378 psf. The developer clocked the new benchmark on Nov 25 with the sale of an eighth-floor, 452 sq ft, two-bedroom unit for about $1.53 million.

The sale price is 3.4% higher than the previous record of $3,267 psf, which was set on Nov 11 when a similar-sized two-bedder on the fifth floor went for roughly $1.48 million.

Since the start of the year, the developer has sold 12 units at Hill House at an average price of $3,108 psf. In terms of psf price, the lowest-priced unit transacted at the development this year was a 753 sq ft, three-bedroom unit on the fourth floor, which sold for $2.21 million ($2,934 psf) on Oct 28.

The 999-year leasehold condo is situated along Institution Hill, off River Valley Road in prime District 9. Expected to be completed in 2026, the boutique 72-unit development features one-bedroom and one-bedroom-plus-study units of 431 and 452 sq ft, two-bedroom units of 624 sq ft, and three-bedroom apartments of 753 sq ft.

Since its launch in November 2022, 30 units (42%) at Hill House have been sold at an average price of $3,054 psf.

Rounding out the top three is The Cosmopolitan, which hit a new psf-price high following the sale of a 1,324 sq ft, three-bedroom unit on the 26th floor for $3.73 million ($2,817 psf) on Nov 25.

This new benchmark is just 0.7% higher than the previous peak of $2,795 psf logged in October last year, when another 1,324 sq ft, three-bedroom unit on the 17th floor of the same block was sold for $3.7 million.

The seller of the 26th-floor unit had purchased it in November 2010 for about $2.58 million ($1,950 psf), thereby netting a profit of approximately $1.15 million.

Completed in 2008, The Cosmopolitan is a 228-unit freehold condominium situated along Kim Seng Road, just off River Valley Road in prime District 9. The development offers two-bedroom units of 1,141 sq ft, three-bedroom units ranging from 1,324 to 1,399 sq ft, and four-bedroom apartments measuring 1,679 sq ft.

The condominium is located within 1km of River Valley Primary School and is within walking distance of Great World MRT Station on the Thomson-East Coast Line. F&B and retail offerings are conveniently available nearby at Great World.