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

The sale of a four-bedroom unit at One Amber during the week of Aug 22 to 29 was the most profitable condo resale transaction, based on caveats lodged with URA. The 1,701 sq ft apartment changed hands for $3.75 million ($2,205 psf) on Aug 23, and the seller made a profit of $2.43 million or 184% after holding it for slightly over 17 years. This is the most profitable transaction at this freehold condo built in 2010 by UOL Group and Singapore Land Group, surpassing the previous record established in April.

With easy access to the rest of the island, residents of Senja Close EC will be well connected to the heart of the city. Furthermore, the closeness of Jurong Gateway and Jurong Lake District offers plenty of retail and entertainment options for residents of Senja Close EC. This Executive Condominium will be an ideal choice for those looking to stay close to the city centre of Singapore.

Meanwhile, 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 seller made a profit of $1.55 million (173%) after holding it for 21½ years. This is the second most profitable transaction registered at this freehold development located along Butterworth Lane, which comprises two-, three- and four-bedroom units of 1,023 to 1,776 sq ft.

On the other hand, the most unprofitable transaction during the week was at Eon Shenton, when a two-bedroom apartment changed hands for $1.52 million ($2,206 psf). The 689 sq ft unit on the 23rd floor had been purchased from the developer in October 2012 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 at this 99-year leasehold development so far this year, five of which have transacted below purchase price.

At One Amber, the four-bedroom unit was purchased by the seller in May 2006 from the developer for $1.32 million ($778 psf). It had a mix of one- to four-bedroom units of 570 to 3,100 sq ft and four-bedroom penthouses of 2,659 to 3,541 sq ft.

Likewise, the unit at Butterworth 8 was purchased from the developer in March 2002 for about $898,590 ($684 psf). A total of 216 units are housed in the development built by Keppel Land and completed in 2004.

So far this year, there have been eight other resale transactions recorded at One Amber, all of which have been profitable. Data 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.

Eon Shenton, developed by Roxy-Pacific Holdings, has a mix of residential units, strata offices and shops housed in a 32-storey tower. There are 132 residences comprising two- and three-bedroom units of 527 to 1,087 sq ft, and penthouses of 1,044 to 1,249 sq ft.

One Amber, Butterworth 8 and Eon Shenton are all conveniently located near MRT stations. One Amber is a six-minute walk to Tanjong Pagar Station, while Eon Shenton is directly opposite the upcoming Prince Edward Road MRT Station, which will be a two-minute walk away. Butterworth 8, meanwhile, is located close to Haig Road Station.

Overall, these properties offer good potential for capital gains. Transactions at the three developments have all been profitable this year, ranging from gains of $250,000 to $2.43 million. This indicates the sustained and increasing demand for properties in the region.