DEAL WATCH: Grange Road condo selling at $1,440 psf
By Metta Lee
/ The Edge Property |
A three-bedroom high-floor unit at Spring Grove on Grange Road has been listed on TheEdgeProperty.com at $2 million, or $1,440 psf. The Edge Fair Value, a valuation tool on The EdgeProperty.com, puts the indicative value of the 1,389 sq ft unit at $1,598 psf.
A three-bedroom high-floor unit at Spring Grove, which was completed in 1996, has been listed at $1,440 psf.
Click here for more listings at Spring Grove and nearby projects.
The property’s last comparable transaction was in December 2015, when another unit of the same size was sold for $2 million. The unit was located on a low floor. The asking price of $1,440 psf is also almost similar to 2010 prices, when a sixth floor 1,389 sq ft unit was sold for $2.05 million, or $1,476 psf.
Spring Grove is a 99-year leasehold condominium in district 10. Completed in 1996, the 325-unit development is within walking distance of Overseas Family School. Popular schools such as Anglo-Chinese School (Junior) and River Valley Primary School are also within 2km radius.
In the past three months, there were six rental contracts for 1,300 to 1,400 sq ft units at Spring Grove. Monthly rents for these contracts averaged $4,440, or $3.28 psf. For more information, call marketing agent Simran Dadlani at 8157 8044.
Recent transactions for 1,389 sq ft units at Spring Grove
Contract date | Floor | Price ($) | Price ($ psf) |
|---|---|---|---|
December 14, 2015 | 7th | 2,000,000 | 1,440 |
June 9, 2015 | 6th | 2,000,000 | 1,440 |
June 8, 2015 | 8th | 2,000,000 | 1,440 |
Source: URA, The Edge Property
Recent rental contracts for 1,300 to 1,400 sq ft units at Spring Grove
Lease commencement date | Monthly Rent | |
|---|---|---|
($) | () | |
April 2016 | 4,700 | 3.5 |
April 2016 | 4,100 | 3 |
April 2016 | 4,000 | 3 |
March 2016 | 4,900 | 3.6 |
March 2016 | 4,500 | 3.3 |
February 2016 | 4,500 | 3.3 |
Source: URA, The Edge Property
This article appeared in The Edge Property Pullout, Issue 730 (May 30, 2016) of The Edge Singapore.
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