Non-Singaporean make up around 76% of buyers at freehold project Gramercy Park at Grange Road. Average purchase price ranges around $2,600 to $2,800 psf.
81 (47%) of the 174 available Gramercy Park units have been sold by developer City Developments Limited (CDL). Foreigners and Singaporean Permanent Residents purchased most of the units at this condominium along Grange Road in District 10.
Gramercy Park completed in May 2016 and sits on a site about 170,000 sqft. The luxury development boasts two curvilinear towers of two- to five-bedroom units. Unit size ranges from 1,184 sqft for a 2-bedroom plus study apartment to the largest 7,287 sqft 5-bedroom penthouse.
All the 2-bedroom plus study units in the 87-unit North Tower launched last year were sold. 70 units in total has sold with a good take-up of 3 and 4 bedroom apartments as well. A buyer also bought the five-bedroom penthouse for $16.88 million ($3,050 psf).
The South Tower which contains 87 units recently soft launched on 30th March. Early bird pricing starts from $3.4 million for a 2-bedroom plus study, $5.1 million for a 3-bedroom apartment and $6.8 million for the 4-bedroom type.
Meanwhile the South Tower, which also contains 87 units, was soft launched on 30 March with viewings by appointment only. So far, 11 of the 20 units released under phase two have been sold. Early bird prices start from $3.4 million for a two-bedroom + study, $5.1 million for a three-bedder and $6.8 million for a four-bedroom type.
Chia Ngiang Hong, CDL Group General Manager even mentioned that due to signs of high-end properties bottoming out, they have seen a pick-up in pricing as a result of the increased buying interest for luxury developments.