Freehold development Amber 45 topped the list of condos that hit a new psf-price peak in the period between Aug 30 and Sept 8. The new high of $2,829 psf came from the sale of a 1,184 sq ft, three-bedroom unit on the sixth floor for $3.35 million on Sept 2.

It is the first time a unit at Amber 45 was sold for more than $2,800 psf. The transaction surpasses the previous record of $2,791 psf that was set last December when a 700 sq ft, two-bedroom unit on the 19th floor was sold for about $1.95 million.

According to URA caveats, the seller of the three-bedroom apartment purchased the unit from the developer in May 2018 for about $2.72 million. Thus, the seller made a profit of about $630,000.

Read also: Four Seasons Park hits new psf-price peak of $3,451

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Amber 45 has seen four resale transactions so far this year at an average price of $2,723 psf. Last year, the development recorded seven resale transactions at an average price of $2,662 psf. This marks a 2.3% y-o-y increase in average psf price.

Completed in 2021, Amber 45 is a 139-unit freehold development at 45 Amber Road in District 15. The project consists of a 21-storey residential tower that houses a mix of two- to four-bedroom apartments. Unit sizes start from 614 sq ft for a two-bedroom unit, 1,130 sq ft for a three-bedroom unit, and 1,345 sq ft for a four-bedroom unit. There are also 20 four-bedroom premium apartments spanning up to 1,798 sq ft. Each premium apartment is accessed via a private lift lobby.

Several malls are near the apartment tower, including Parkway Parade on Marine Parade Road and i12 Katong on East Coast Road. Tanjong Katong Primary School is less than 1km away, and Marine Parade MRT Station is less than 500m away, providing access to the Thomson-East Coast Line.

Principal Garden took second place in terms of new psf-price highs recorded during the period of review. The condo hit a new high of $2,555 psf when a 1,076 sq ft, three-bedroom unit on the 20th floor was sold for $2.75 million on Sept 2. This is the first time resale prices at the development have crossed $2,500 psf.

The new record is 3.7% higher than the previous peak of $2,462 psf. The old record was set earlier this year on May 31 when a 1,076 sq ft, three-bedroom apartment on the 23rd floor was sold for $2.65 million. In July, another 1,076 sq ft, three-bedroom apartment on the seventh floor was sold at the same price.

The unit sold on Sept 2 was purchased by the seller from the developer in June 2016 for $1.79 million. Therefore, the seller made a profit of about $960,000.

Read also: Pinetree Hill achieves new high of $2,763 psf

Principal Garden has seen 26 resale transactions so far this year at an average price of $2,243 psf. Last year, the development saw 38 units change hands at an average price of $2,108 psf. This marks a 6.4% y-o-y increase in average psf price.

Principal Garden is a 99-year leasehold condo located along Prince Charles Crescent, off Alexandra Road. Completed in 2018, the 663-unit development has four 24-storey residential towers housing one- to five-bedroom apartments spanning between 484 and 2,347 sq ft.

Meanwhile, Pinetree Hill saw a new psf-price low during the period in review when the developer sold a 1,173 sq ft, three-bedroom unit on the 24th floor for $2.53 million, or $2,156 psf, on Sept 8.

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 is a 99-year leasehold condo along Ulu Pandan Road in District 21. The 520-unit development has one- to five-room units ranging from 538 to 2,874 sq ft. It is expected to be completed in 2027.

The condo was launched for sale in July last year and saw 150 units (29%) sold at an average price of $2,460 psf during its launch weekend. As of Sept 17, the condo has moved 259 units  (49.8%) at an average price of $2,428 psf, according to URA caveats lodged.

Read also: The Ladyhill hits record psf-price of $3,182

Pinetree Hill is situated near several schools. 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.

Check out the latest listings for Amber 45 properties

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