At its weekend launch, the freehold Amber Park condominium on Amber road sold 115 out of the 150 units launched at an early-bird price of $2,425 psf.
77% of 150 units sold at Amber Park’s weekend launch
About 85% of the buyers were Singaporeans with the remaining 15% of foreigners from China, Malaysia, Indonesia, India, and other countries.
Out of the 115 units sold was a penthouse and the total sales amount came up to more than $240 million. The early-bird average price came up to $2,425 psf and units ranged from 463 sq ft for a 1-bedder plus study to 5,005 sq ft for the largest 6-bedder plus study penthouse.
Prices of the various apartment types were:
- $1.08 million for a 1-bedroom unit plus study
- $1.608 million fora 2-bedroom unit plus study
- $1.628 million for a 2-bedroom unit
- $2.18 million for a 3-bedroom unit
- $3.068 million for a 4-bedroom unit plus study
- $3.438 million for a 4-bedroom unit
- $4.98 million for a 5-bedroom premium unit
Could strong uptake continue in subsequent launches?
This is but the first launch for the new freehold condominium. Could its rarity as a freehold private property in district 15 mean more interest in future launches? For now, competition in the area does not seem high.
The site is just 3 minutes walk away from the upcoming Tanjong Katong MRT station, and that could lend strength to sales.
Investors looking for a prime property with the good potential long term may do well to explore taking up units at Amber Park.
The location which is near an MRT station and also a number of schools could mean considerable rental yields.
See more: Canberra MRT station to open by end 2019