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Four-bedroom unit at One Amber makes S$1.98 million profit
Apr 14, 2023
Four-bedroom unit at One Amber makes S$1.98 million profit Singapore
By   shicheng news
  • City News
  • Flats for resale
  • flats
  • flat deals
Abstract: SINGAPORE (EDGEPROP) - The most lucrative condominium resale transaction recorded in the week of March 14-21 was a four-bedroom unit at One Amber.

The 1,658 sq ft unit, located on the ninth floor, changed hands on 20 March for S$3.15 million (S$1,900 per sq ft). The seller bought the unit from the developer in April 2006 for S$1.17 million (S$705 per square foot). This means that after less than 17 years of ownership, they made a profit of S$1.98 million (170%).

 

One Amber is a freehold condominium located in Amber Gardens, Post 15. One Amber was developed by UOL Group and Singapore Land Group and completed in 2010. One Amber is within walking distance of the upcoming Tanjong Katong MRT station on the East Coast Line in Townsend.

 

The second most profitable transaction of the week took place at The Shelford on Shelford Road in Post 11, where a 1,055 sq ft two-bedroom unit was sold for S$2.28 million (S$2,161 per sq ft) on March 20. The unit was purchased from the developer in August 2004 for approximately S$735,300 (S$697 per square foot). As a result, the seller made a profit of S$1.54 million (210%) after a holding period of approximately 18½ years. The sale set a new record high price per square foot for the development.

 

This is The Shelford's third second home transaction so far this year. The other two transactions, which also took place in March, were also profitable. a 1,033 sq ft unit was sold for S$2.4 million (S$2,323 per sq ft) on 21 March. The seller purchased the unit in April 2007 for S$1.03 million (S$992 per sq ft) and made a profit of S$1.38 million. on 3 March, a 1,399 sq ft unit was sold by the seller for S$3.18 million, making a profit of S$580,000 (S$2,273 per sq ft). They purchased the unit for S$2.6 million (S$1,858 per square foot) in September 2018.

 Four-bedroom unit at One Amber makes S$1.98 million profit

The Shelford is a freehold condominium, completed in 2005. Developed by CapitaLand, it comprises seven low-rise blocks with a total of 215 units. The development offers one to four bedroom flats ranging from 732 to 2,411 square feet. The development is located near the junction of Tonga Road and Adam Road and is close to various amenities including the Botanical Gardens, Serene Centre and Adam Food Centre.

 

Meanwhile, the least profitable transaction during the period under review was a four-bedroom unit at Marina Prime Court. The 2,045 sq ft unit sold for S$5.8 million (S$2,836 per sq ft) on March 16. The sellers purchased the unit in September 2021 for S$6.36 million (S$3,111 per square foot) and after a 1.5-year holding period, they suffered a loss of S$562,000 (8.8 per cent).

 

Marina One Residences is the residential component of Marina One, a mixed-use development in Marina Bay Financial Centre. Marina One Residences was developed by M+S, a joint venture between Temasek Holdings and Malaysia's sovereign wealth fund Khazanah Nasional, and was completed in 2017. The 99-year condominium has a total of 1,042 units.

 

The development has seen a high level of transactions in the last year. 98 flats changed hands in 2022, including a penthouse of 8,708 square feet, which was sold in November for S$19.89 million (S$2,284 per square foot), according to the sale and purchase agreement submitted. Other units ranging from 667 to 2,034 square feet were sold for between S$16,000 and S$63,700 per square foot at prices ranging from S$2,194 to S$3,130 per square foot.

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Four-bedroom unit at One Amber makes S$1.98 million profit
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