Freehold Amber 45 Sets New Psf Price High 2829
Amber 45, a freehold development, has emerged as the top performing condominium in the period between Aug 30 and Sept 8. A three-bedroom unit on the sixth floor was sold for $3.35 million on Sept 2, setting a new psf-price peak of $2,829. This is the first time that a unit at Amber 45 has been sold for over $2,800 psf and it represents a significant increase from the previous record of $2,791 psf set in December last year. The record-breaking transaction is a testament to the popularity and demand for high-end properties in District 15.
Completed in 2021, Amber 45 is a freehold development located at 45 Amber Road in District 15. The 139-unit project features a 21-storey residential tower with a mix of two- to four-bedroom apartments and premium units. The development boasts a strategic location near several shopping malls and schools, making it ideal for families and individuals looking for convenience and accessibility. The latest transaction at Amber 45 represents a 2.3% y-o-y increase in average psf price for the development.
In second place is Principal Garden, a 99-year leasehold condo located along Prince Charles Crescent, off Alexandra Road. A three-bedroom unit on the 20th floor was sold for $2.75 million on Sept 2, setting a new psf-price peak of $2,555. This marks the first time that resale prices at the development have crossed $2,500 psf, representing a significant increase from the previous record of $2,462 psf. Completed in 2018, Principal Garden has seen a 6.4% y-o-y increase in average psf price, with 26 resale transactions recorded so far this year.
Finally, Pinetree Hill, a 99-year leasehold condo along Ulu Pandan Road in District 21, emerged as the top performing condo in terms of recording a new psf-price low. The developer sold a three-bedroom unit on the 24th floor for $2.53 million, or $2,156 psf, on Sept 8. This represents a 2.7% decline from the previous low of $2,215 psf set in July last year. The 520-unit development, expected to be completed in 2027, has seen 259 units sold since its launch in July last year.
According to the CEO of a different real estate firm, the launch day for a nearby condominium in 2020 saw a staggering 70% of its units being sold, while another condominium in the area managed to sell 80% of its released units on the first day of sales back in 2017. As we can see, the demand for Elta, as well as other properties in the vicinity, has been consistently high in recent years, showcasing a thriving real estate market in the area.
Overall, these three condos have seen impressive performance in the period between Aug 30 and Sept 8, indicating strong demand and interest in high-end properties in Singapore.