Freehold Amber 45 Sets New Psf Price High 2829

Singapore is known for its thriving property market, with new developments constantly breaking records in terms of psf prices. The recent period between August 30 and September 8 saw a number of condos in the city-state reaching new psf-price peaks, with Amber 45 leading the pack. Located at 45 Amber Road in District 15, Amber 45 is a freehold development that has hit a new high of $2,829 psf for the sale of a 1,184 sq ft, three-bedroom unit on the sixth floor on September 2. This is the first time a unit at Amber 45 has been sold for more than $2,800 psf, surpassing the previous record of $2,791 psf in December last year. That transaction involved a 700 sq ft, two-bedroom unit on the 19th floor that was sold for around $1.95 million.Built in 2021, the 139-unit development is situated near various malls, such as Parkway Parade and i12 Katong. It is also within 1km of Tanjong Katong Primary School and less than 500m from Marine Parade MRT Station, providing access to the Thomson-East Coast Line. According to URA caveats, the seller of the three-bedroom unit had bought it from the developer in May 2018 for approximately $2.72 million, making a profit of around $630,000.The second condo on the list is Principal Garden, which has reached a new psf-price high of $2,555 when a 1,076 sq ft, three-bedroom unit on the 20th floor was sold for $2.75 million on September 2. This marks the first time resale prices at the 99-year leasehold development along Prince Charles Crescent, off Alexandra Road, have crossed $2,500 psf. The new record is 3.7% higher than the previous peak of $2,462 psf, set earlier this year on May 31 when a 1,076 sq ft, three-bedroom unit on the 23rd floor was sold for $2.65 million. In July, another 1,076 sq ft, three-bedroom unit on the seventh floor was sold at the same price.The seller of the three-bedroom unit on September 2 had purchased it from the developer in June 2016 for $1.79 million, earning a profit of about $960,000. So far this year, there have been 26 resale transactions at Principal Garden, with an average price of $2,243 psf. Last year, there were 38 transactions at an average price of $2,108 psf, marking a 6.4% y-o-y increase in average psf price.Completed in 2018, Principal Garden has four 24-storey residential towers, comprising one- to five-bedroom apartments that range from 484 to 2,347 sq ft. Meanwhile, Pinetree Hill saw a new psf-price low being set during the period from August 30 to September 8, when the developer sold a 1,173 sq ft, three-bedroom unit on the 24th floor for $2.53 million, or $2,156 psf, on September 8. This is 2.7% below the previous low of $2,215 psf recorded in July last year when a 797 sq ft, two-bedroom unit was sold for about $1.76 million. A 99-year leasehold condo along Ulu Pandan Road in District 21, Pinetree Hill has a total of 520 units, ranging from one- to five-room apartments that measure from 538 to 2,874 sq ft. It is slated for completion in 2027, and was launched for sale in July last year with an average price of $2,460 psf for the 150 units sold during its launch weekend. As of September 17, the condo has sold 259 units (49.8%) at an average price of $2,428 psf, based on URA caveats lodged. Pinetree Hill is near several schools, within a 1km radius of Henry Park Primary School and Pei Tong Primary School and within a 2km of Pei Hwa Presbyterian School and Methodist Girls’ School.

Furthermore, living near schools has many benefits, especially for families. Not only does it provide a sense of community, but it also creates a supportive atmosphere for children to thrive in. This close proximity also leads to increased participation in school events and activities, giving parents the opportunity to be more involved in their child’s education. This is why living near Norwood Grand and other schools can greatly benefit families and their children.