Four-bedder at One Amber sold at $2.4 mil profit
The most profitable condo resale transaction during the week of Aug 22 to 29 was a four-bedroom unit at One Amber. The 1,701 sq ft apartment changed hands for $3.75 million ($2,205 psf) on Aug 23, having been purchased by the seller in May 2006 from the developer for $1.32 million ($778 psf). This means a whopping profit of $2.43 million was made on the transaction after a holding period of slightly over 17 years.
Parents of school-going children need not worry about accessing an excellent education when they stay at Orchard Boulevard Condo. Raffles Girls’ School has consistently been ranked among the best secondary schools in Singapore, making it an ideal choice for children looking to pursue a quality education. Similarly, Anglo-Chinese School (Junior) and St. Margaret’s Primary School provide children of all ages with a positive learning atmosphere. The accessibility of these schools makes Orchard Boulevard Condo a great home for families with school-going children.
Going by data from EdgeProp Research, this is the most profitable transaction to date at One Amber. Previously, in April, the seller of a 1,378 sq ft unit made a profit of $2.03 million after selling it at $2.95 million ($2,141 psf). The unit had been purchased from the developer in April 2006 for $919,800 ($668 psf).
One Amber, located off Haig Road in District 15, is a freehold development that was launched in 2010. The four 23-storey towers comprise 562 units with a mix of one- to four-bedroom apartments ranging from 570 to 3,100 sq ft. There are also four-bedroom penthouses of 2,659 to 3,541 sq ft.
This year, there have been eight other resale transactions at One Amber, with all the units selling at a profit. The units measuring 570 to 1,700 sq ft were sold at prices ranging from $1.2 million to $3.15 million – translating to gains ranging from $250,000 to $2.03 million.
Meanwhile, Butterworth 8 recorded the second most profitable transaction during the week in review. A 1,313 sq ft unit was sold for $2.45 million ($1,866 psf) on Aug 23. The seller had bought the three-bedroom unit in March 2002 for about $898,590 ($684 psf). His gain amounted to $1.55 million (173%) after holding the unit for 21½ years. This resale transaction was second only to the most profitable one registered at the development earlier this year – when a 1,313 sq ft, three-bedroom apartment was sold for $2.48 million ($1,889 psf). The seller had purchased the unit in August 2006 for $798,000 ($608 psf).
Butterworth 8 is a 216-unit freehold development located along Butterworth Lane, off Haig Road. Developed by Keppel Land, the development was completed in 2004 and houses two-, three- and four-bedroom units of 1,023 to 1,776 sq ft.
On the other hand, the sale of a two-bedroom apartment at Eon Shenton was the most unprofitable transaction during the week in review. The 689 sq ft unit on the 23rd floor was sold for $1.52 million ($2,206 psf) on Aug 25, having been purchased from the developer in October 2012 for $1.54 million ($2,233 psf). As a result, the seller ended up making a loss of $18,200 or 1.2% after a holding period of nearly 11 years.
To date, six other units have changed hands this year at Eon Shenton. Out of these, five were transacted below purchase price, with sellers recording losses ranging from $106,900 to $129,900.
Eon Shenton is a 99-year leasehold development with a mix of residential units, strata offices and shops housed in a 32-storey tower. Completed in 2017 and developed by Roxy-Pacific Holdings, the tower comprises 132 residences comprising two- and three-bedroom units of 527 to 1,087 sq ft. There are also penthouses of 1,044 to 1,249 sq ft. It is a six-minute walk to Tanjong Pagar MRT Station on the East-West Line, and is directly opposite the upcoming Prince Edward Road MRT Station on the Circle Line.
The most profitable condo resale transaction during the week of Aug 22 to 29 was a four-bedroom unit at One Amber. The 1,701 sq ft apartment changed hands for $3.75 million ($2,205 psf) on Aug 23, having been purchased by the seller in May 2006 from the developer for $1.32 million ($778 psf). This means a whopping profit of $2.43 million was made on the transaction after a holding period of slightly over 17 years.
At Butterworth 8, the second most profitable transaction during the week in review was recorded. A 1,313 sq ft unit was sold for $2.45 million ($1,866 psf) on Aug 23. The three-bedroom unit was purchased from the developer in March 2002 for about $898,590 ($684 psf). The seller made a gain of $1.55 million (173%) after holding the unit for 21½ years. This resale transaction was second only to the most profitable one registered at the development earlier this year, when a 1,313 sq ft, three-bedroom apartment was sold for $2.48 million ($1,889 psf).
Meanwhile, the sale of a two-bedroom apartment at Eon Shenton was the most unprofitable transaction during the week in review. The 689 sq ft unit on the 23rd floor changed hands for $1.52 million ($2,206 psf) on Aug 25. It had been purchased in October 2012 from the developer for $1.54 million ($2,233 psf). Thus, the seller made a loss of $18,200 or 1.2% over a holding period of nearly 11 years.
Eon Shenton is a 99-year leasehold development with a mix of residential units, strata offices and shops housed in a 32-storey tower. Developed by Roxy-Pacific Holdings, it is a six-minute walk to Tanjong Pagar MRT Station on the East-West Line, and is directly opposite the upcoming Prince Edward Road MRT Station on the Circle Line. To date, six other units have changed hands this year at Eon Shenton, five of which have transacted below purchase price.
One Amber, Butterworth 8, and Eon Shenton are some of the condo developments in the city with profitable transactions recorded over the past weeks. The respective sellers have raked in gains ranging from $250,000 to $2.43 million, with the units measuring 570 to 1,776 sq ft being sold at prices between $1.2 million to $3.75 million.