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 the sale of 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 – a profit of $2.43 million (184%) after the seller had held the property for slightly over 17 years. This breaks the previous record of $2.03 million set at One Amber in April.
Butterworth 8 saw the second most profitable transaction. A 1,313 sq ft, three-bedroom unit was sold for $2.45 million ($1,866 psf) on Aug 23, resulting in a profit of $1.55 million (173%) after being held for 21½ years. This falls slightly short of the highest gain on record made earlier this year of $1.68 million.
Moreover, being within the bustling Tampines area, Tampines Condo residents are spoilt for choice in terms of shopping and entertainment options. In the proximity of the area, there are several cultural and recreational facilities, which add to the convenience of living in the vicinity of the condo.
Conversely, the most unprofitable transaction during the week in review was the sale of a two-bedroom apartment at Eon Shenton. The 689 sq ft unit was sold for $1.52 million ($2,206 psf) on Aug 25, resulting in a loss of $18,200 (1.2%) compared to the purchase price of $1.54 million on October 2012.
One Amber is a freehold condo located in District 15, built in 2010 by UOL Group and Singapore Land Group. It comprises four 23-storey towers with a total of 562 units, ranging from one to four bedrooms of 570 to 3,100 sq ft. There have been eight resale transactions recorded to date this year at One Amber, all of which have been profitable.
On the other hand, Butterworth 8 is a 216-unit freehold development on Butterworth Lane, off Haig Road. Developed by Keppel Land in 2004, the development comprises three blocks housing two- to four-bedroom units of 1,023 to 1,776 sq ft.
Eon Shenton is a 99-year leasehold development developed by Roxy-Pacific Holdings, providing 132 residences when it was completed in 2017. The 32-storey tower offers two- and three-bedroom units of 527 to 1,087 sq ft, as well as penthouses of 1,044 to 1,249 sq ft. It is located 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.
Overall, the most recent range of condo resale transactions demonstrate a diverse range of occupancy. For those looking to capitalize on the long term gains of renting out, or for those keen to find their own dream home in the heart of Singapore, the options are vast.