Top among the condos reaching a new psf-price peak between Aug 30 and Sept 8 was Amber 45, a freehold property. Selling a 1,184 square foot, three-bedroom apartment on the sixth floor for $3.35 million on 2 Sept brought in the new high of $2,829 psf. This is the first time a flat at Amber 45 sold for more over $2,800 psf, shattering the previous record of $2,791 psf established last December when a 700 sq ft, two-bedroom apartment on the 19th floor sold for roughly $1.95 million.
URA stipulations state that the three-bedroom apartment seller paid roughly $2.72 million to the developer in May 2018, creating a profit of almost $630,000. Currently averaging $2,723 psf, Amber 45 has had four resale transactions this year. Reflecting a 2.3% year-on-year rise, last year the development noted seven resales at an average price of $2,662 psf. Designed to be finished in 2021, Amber 45 is a 139-unit freehold property at 45 Amber Road in District 15. It comprises of two- to four-bedroom apartments housed in a 21-story skyscraper. Each with private lift access, unit sizes ranging from 614 sq ft for a two-bedroom to 1,498 sq ft for luxury four-bedroom homes.
Amber 45 is near i12 Katong on East Coast Road and parks including Parkway Parade on Marine Parade Road. Access to the Thomson-East Coast Line comes from Marine Parade MRT Station, less than 500m away, and Tanjong Katong Primary School, within one mile. For fresh psf-price highs over the time, Principal Garden came second. When a 1,076 square foot, three-bedroom apartment on the 20th floor sold for $2.75 million on Sept 2, the condo hit a fresh peak of $2,555 psf. Resale prices at Principal Garden now cross $2,500 psf for the first time.
Set earlier this year on May 31, a 1,076 square foot three-bedroom apartment on the 23rd floor sold for $2.65 million, marking the new record as 3.7% more than the previous top of $2,462 psf. Another 1,076 square foot, three-bedroom apartment on the seventh floor sold for the same in July. Purchased by the seller from the developer in June 2016 for $1.79 million, the Sept 2 flat earned a profit of almost $960,000. At an average price of $2,243 psf, Principal Garden has seen 26 resale deals this year. At an average of $2,108 psf, 38 units sold last year—a 6.4% annual increase.
A 99-year leasehold condo along Prince Charles Crescent, close to Alexandra Road is Principal Garden. Finished in 2018, the 663-unit property consists of four 24-storey towers housing 484 to 2,347 square foot apartments. Pinetree Hill observed a fresh psf-price low on 8 Sept when the developer sold a 1,173 square foot, three-bedroom apartment on the 24th floor for $2.53 million, or $2,156 psf.
Set in July last year when a 797 square foot, two-bedroom apartment sold for roughly $1.76 million, this pricing is 2.7% below the previous low of $2,215 psf. Comprising a 99-year leasehold condo on Ulu Pandan Road in District 21, Pinetree Hill is Comprising one to five-room units ranging from 538 to 2,874 sq ft, the 520-unit development is scheduled for completion in 2027. Launched for sale in July last year, Pinetree Hill had 150 apartments (29%) sold at an average price of $2,460 psf over its debut weekend. URA conditions indicate that as of Sept. 17, the condo sold 259 units (49.8%) at an average price of $2,428 psf.
The development is near various schools, including Pei Hwa Presbyterian School and Methodist Girls’ School two km and Henry Park Primary School and Pei Tong Primary School one km. Nava Grove is located just beside Pinetree Hill. Click here to see amenities nearby Nava Grove.
