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
Amber Park Condo
Developer City Development Limited (CDL) has said that the take up of 77% of the 150 units launched was the strongest sales for a weekend launch for a freehold project thus far this year.
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
See more: Hume Park station on Downtown MRT line to open by 2025
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.
Amber Park Condo
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
