Four-bedder at One Amber sold at $2.4 mil profit
/ EdgeProp Singapore |
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SINGAPORE (EDGEPROP) - The sale of a four-bedroom unit at One Amber was the most profitable condo resale transaction during the week of Aug 22 to 29, based on caveats lodged with URA. The 1,701 sq ft apartment changed hands for $3.75 million ($2,205 psf) on Aug 23. It had been purchased by the seller in May 2006 from the developer for $1.32 million ($778 psf). This means the seller raked in a profit of $2.43 million or 184% after holding the apartment for slightly over 17 years.
This is the most profitable transaction recorded to date at One Amber, based on data compiled on EdgeProp Research. It beats the previous record established in April when 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 seller had purchased the unit in April 2006 for $919,800 ($668 psf).
The unit at One Amber changed hands for $3.75 million ($2,205 psf) on Aug 23 (Picture: Samuel Isaac Chua/The Edge Singapore)
One Amber is a freehold condo built in 2010 by UOL Group and Singapore Land Group. It comprises four 23-storey towers with a total of 562 units. The condo has a mix of one- to four-bedroom units of 570 to 3,100 sq ft. There are also four-bedroom penthouses of 2,659 to 3,541 sq ft.
There have been eight other resale transactions recorded to date this year at One Amber, all of which have been profitable. Data compiled on EdgeProp Research shows that the units, measuring 570 to 1,700 sq ft, were sold for between $1.2 million and $3.15 million, or between $1,900 and $2,390 psf. The respective sellers made gains ranging from $250,000 to $2.03 million.
Butterworth 8 saw the second most profitable transaction during the week in review with the sale of a 1,313 sq ft unit 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 profit of $1.55 million (173%) after holding the unit for 21½ years. This is the second most profitable transaction registered at Butterworth 8 to date. The most profitable transaction at the development occurred earlier this year, when a 1,313 sq ft, three-bedroom apartment was sold for $2.48 million ($1,889 psf) on March 22. The seller, who had purchased the unit in August 2006 for $798,000 ($608 psf), made a gain of $1.68 million or 211% on the transaction.
Butterworth 8 is a 216-unit freehold development located along Butterworth Lane, off Haig Road in District 15. Completed in 2004 by Keppel Land, the development comprises three blocks housing two-, three- and four-bedroom units of 1,023 to 1,776 sq ft.
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.
Six other units have changed hands to date this year at Eon Shenton, five of which have transacted below purchase price. The units, measuring between 548 and 1,044 sq ft, were sold at losses ranging from $106,900 to $129,900.
Completed in 2017, 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 was completed in 2017. There are 132 residences at the tower, 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.
A 689 sq ft unit at Eon Shenton was sold for $1.52 million ($2,206 psf) on Aug 25, leading to a loss of $18,200 (Picture: Samuel Isaac Chua/The Edge Singapore)
Eon Shenton 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, which will be a two-minute walk away.
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