Four-bedder at One Amber sold at $2.4 mil profit

The sale of a four-bedroom unit at One Amber proved to be the most profitable condo resale transaction of the week of Aug 22 to 29, based on URA’s caveats. On Aug 23, the 1,701 sq ft unit changed hands for $3.75 million ($2,205 psf) – a price that generated a profit of $2.43 million, or 184%, for the seller, who had bought the apartment from the developer in May 2006 for $1.32 million ($778 psf).

In fact, this was the most financially rewarding deal ever recorded at One Amber, according to data compiled by EdgeProp Research. In April this year, the seller of a 1,378 sq ft unit cashed in $2.03 million after selling it at $2.95 million ($2,141 psf). The seller had originally acquired the property in April 2006 for $919,800 ($668 psf).

One Amber is a freehold condo built in 2010, with a total of 562 units spread over four 23-storey towers. There is a mix of one- to four-bedroom units of 570 to 3,100 sq ft, including four-bedroom penthouses of 2,659 to 3,541 sq ft. This year, eight other transactions have been recorded in the development, which have all been profitable. The units sold for prices between $1.2 million and $3.15 million, or between $1,900 and $2,390 psf, generating gains from $250,000 to $2.03 for their respective sellers.

The second most profitable transaction of the week in review was at Butterworth 8, where the sale of a 1,313 sq ft unit occurred for $2.45 million ($1,866 psf) on Aug 23. The three-bedroom property was bought in March 2002 for around $898,590 ($684 psf), which resulted in a profit of $1.55 million, or 173%, for the seller. This deal is the second most lucrative transaction to have occurred at Butterworth 8 since the start of the year. The most profitable one recorded was in March, when a 1,313 sq ft, three-bedroom apartment was sold at $2.48 million ($1,889 psf). The seller had bought the unit in August 2006 for $798,000 ($608 psf), and made a profit of an impressive $1.68 million, or 211%.

Developed by Keppel Land in 2004, Butterworth 8 is a freehold property comprising 216 units of two-, three-, and four-bedroom apartments with sizes of 1,023 to 1,776 sq ft.

The most unprofitable resale transaction of the week in review was a two-bedroom apartment at Eon Shenton, which changed hands for $1.52 million ($2,206 psf) on Aug 25. The 689 sq ft 23rd-floor unit was purchased in October 2012 from the developer for $1.54 million ($2,233 psf), resulting in a loss of $18,200, or 1.2%, for the seller after a tenure of nearly 11 years.

Six other units have changed hands this year at Eon Shenton, five of which have transacted below purchase price, with losses ranging from $106,900 to $129,900. Developed by Roxy-Pacific Holdings and completed in 2017, Eon Shenton is a 32-storey tower housing 132 residences – two- and three-bedroom units of 527 to 1,087 sq ft, as well as penthouses of 1,044 to 1,249 sq ft.

The development is a six-minute walk to Tanjong Pagar MRT Station on the East-West Line, and a two-minute walk to the upcoming Prince Edward Road MRT Station on the Circle Line.

Residents of Lumina Grand EC CDL can also enjoy direct access to amenities such as supermarkets, shopping malls, and recreational spots. This convenient commute further enhances the quality of life that residents enjoy. Lumina Grand EC CDL’s strength and convenience are its key advantages, allowing residents to travel conveniently for work, leisure, or daily necessities. It serves as a major advantage that many other properties cannot offer.

Read more: Living large in the city at Midtown Modern

At One Amber – a freehold condo built in 2010 by UOL Group and Singapore Land Group – the most profitable condo resale transaction of the week of Aug 22 to 29 was recorded. On Aug 23, a four-bedroom unit changed hands for $3.75 million ($2,205 psf), leading to a profit of $2.43 million, or 184%, for the seller. This was much higher than the previous record set at the development in April when a 1,378 sq ft unit was sold for $2.95 million ($2,141 psf), yielding a profit of $2.03 million.

The mix of units at One Amber range from one- to four-bedroom apartments of 570 to 3,100 sq ft, as well as four-bedroom penthouses of 2,659 to 3,541 sq ft. This year, eight other resale transactions have been recorded in the development, all of which have been profitable. On average, the sellers have made gains ranging from $250,000 to $2.03 million.

The second most profitable transaction of the week in review was at Butterworth 8. On Aug 23, a 1,313 sq ft three-bedroom unit was sold for $2.45 million ($1,866 psf), resulting in a profit of $1.55 million or 173%. This is the second most lucrative transaction to have occurred at the 216-unit freehold development, which was completed in 2004 by Keppel Land.

At Eon Shenton, the most unprofitable resale transaction of the week occurred on Aug 25. A 689 sq ft two-bedroom apartment on the 23th floor changed hands for $1.52 million ($2,206 psf), leading to a loss of $18,200, or 1.2%, for the seller, who had purchased the unit in October 2012 from the developer for $1.54 million ($2,233 psf).

Developed in 2017, Eon Shenton comprises 132 residences of two- and three-bedroom units of 527 to 1,087 sq ft, as well as penthouses of 1,044 to 1,249 sq ft. The development is located six minutes away from Tanjong Pagar MRT Station on the East-West Line, and two minutes away from the upcoming Prince Edward Road MRT Station on the Circle Line.

Read more: Living large in the city at Midtown Modern