ROM for Amber Park showflat this weekendMortgagee sale at Silversea yields 17% profit Roughly 2 years since its completion, Amber 45, a 139-unit freehold development at 45 Amber Road in District 15, has made a breakthrough in the market, topping the list of condos that hit a new peak in psf price. During the period between Aug 30 and Sept 8, a 1,184 sq ft, three-bedroom unit on the sixth floor was sold for a notable $3.35 million, translating to a record-breaking $2,829 psf.
It marks the first time a unit at Amber 45 has been sold for more than $2,800 psf, surpassing the previous high of $2,791 psf last December when a 700 sq ft, two-bedroom apartment on the 19th floor was sold for around $1.95 million.
Completed in 2021, Amber 45 has recorded 4 resale transactions this year, with an average price of $2,723 psf. Last year, there were 7 resale transactions, achieving an average price of $2,662 psf, marking a 2.3% year-on-year increase in average psf price.
Unit at Amber 45 sold over $600k above purchase price
According to URA caveats, the seller of the three-bedroom unit bought it from the developer in May 2017 for around $2.72 million, resulting in a profit of approximately $630,000 from the sale.
Amber 45 is a 99-year leasehold development along 45 Amber Road District 15. The project comprises a 21-storey residential tower and offers a selection of two- to four-bedroom apartments. The apartment units start from 614 sq ft for a two-bedroom unit, with the largest being a 1,798 sq ft four-bedroom premium apartment. Residents will also be able to enter their units through private lobbies that are serviced by lifts.
The luxuriously designed apartment tower is strategically located near several malls, including Parkway Parade on Marine Parade Road and i12 Katong on East Coast Road. Tanjong Katong Primary School is also close by, being less than 1km away, and the nearest MRT station, Marine Parade MRT Station is situated less than 500m away, providing access to the Thomson-East Coast Line.
Principal Garden records new peak of $2,555 PSF sales
Principal Garden came in second on the list of new psf-price highs recorded during the review period. It is where a 1,076 sq ft, three-bedroom unit on the 20th floor was sold for a whopping $2.75 million on Sept 2, hitting a new peak of $2,555 psf.
This is the first time resale prices in the development have seen a price tag that has crossed $2,500 psf, soaring past the previous high of $2,462 psf, set earlier this year on May 31, when a 1,076 sq ft, three-bedroom unit on the 23rd floor was sold for $2.65 million. In July, another 1,076 sq ft, three-bedroom unit, located on the seventh floor, was sold at the same price.
The unit that sold on Sept 2 was acquired by the seller from the developer in January 2017, at the rate of $1.79 million. Hence, the seller pocketed around $960,000 in profits from the sale.
Principal Garden, a 99-year leasehold development, is located on Prince Charles Crescent, off Alexandra Road. The development has recorded 26 resale transactions so far this year, with an average price of $2,243 psf. Last year, it recorded 38 resale transactions at an average price of $2,108 psf, marking a 6.4% year-on-year increase in average psf price.
Principal Garden comprises of four 24-storey residential towers housing one- to five-bedroom apartments ranging from 484 to 2,347 sq ft. Completed in 2018, the project has been popular among buyers in the market.
Pinetree Hill sets low of $2,156 psf
Lastly, Pinetree Hill, recorded the lowest psf price during the period of the review. On Sept 8, the developer sold a 1,173 sq ft, three-bedroom unit on the 24th floor for $2.53 million, translating to $2,156 psf.
The price is 2.7% below the previous low of $2,215 psf set in July last year when a 797 sq ft, two-bedroom unit was sold for about $1.76 million.
Pinetree Hill, a 99-year leasehold development along Ulu Pandan Road in District 21, has seen several transactions this year, with the highest being the purchase of a 1,528 sq ft, four-bedroom unit, on the sixteenth floor, that was sold for $4.23 million, translating to $2,769 psf.
The 520-unit development has one- to five-bedroom units, ranging from 538 to 2,874 sq ft, and is expected to be completed in 2027. It was launched for sale in July last year and saw 150 units (29%) sold on the launch weekend at an average price of $2,460 psf. As of September 17, the project has moved 259 units (49.8%) at an average price of $2,428 psf, according to URA caveats recorded.
Pinetree Hill is in close proximity to several schools. Notably, it is within a 1km radius of Henry Park Primary School and Pei Tong Primary School and within 2km of Pei Hwa Presbyterian School and Methodist Girls’ School.
Located at the bustling Khabit MRT Station and in close proximity to the vibrant Yishun Town, Chencharu Close Condo offers a perfect blend of convenience and serenity. This luxurious condominium boasts of modern and stylish living spaces, along with top-notch amenities and facilities such as a swimming pool, gym, and function rooms. With its strategic location, residents can enjoy easy access to various shopping, dining, and entertainment options. Its close proximity to the MRT station also allows for seamless connectivity to other parts of Singapore. Experience urban living at its finest at Chencharu Close Condo.