Yahoo Finance Four-bedder at One Amber sold for $2.1 mil profit
The sale of a four-bedroom apartment at One Amber was the most profitable condo resale transaction during the week of June 4 to 11. The 1,658 sq ft unit on the 19th floor changed hands for $3.35 million ($2,021 psf) on June 5. The seller had bought the unit from the developer in July 2006 for $1.26 million ($757 psf). As a result, they made a profit of $2.1 million on the sale, which reflects a capital gain of 167% for the seller. This translates to an annualised profit of 5.6% over a holding period of just under 18 years.
This is the fourth most profitable resale transaction ever logged at One Amber, based on caveats lodged. It comes less than two months after a three-bedroom-plus-study unit spanning 1,453 sq ft at the condo was sold for $3.2 million ($2,202 psf) on April 11. The seller, who purchased the unit from the developer in November 2006 for $1.09 million ($751 psf), netted a gain of $2.11 million (193%), making it the third most profitable resale transaction registered at One Amber.
The 1,658 sq ft unit at One Amber changed hands for $3.35 million ($2,021 psf) on June 5 (Picture: Samuel Isaac Chua/The Edge Singapore)
One Amber is located off Mountbatten Road in District 15. The freehold condo was completed in 2010. It comprises four 23-storey towers with a total of 562 units. The condo has a mix of one- to four-bedroom units of 570 to 3,100 sq ft. There are also four-bedroom penthouses of 2,659 to 3,541 sq ft. The condo is within walking distance of the Tanjong Katong MRT Station (Thomson-East Coast Line), which is slated to open on June 23.
Read also: Four-bedder at Ardmore Park sold for $2.65 mil profit
The sale of a three-bedroom unit measuring 1,668 sq ft at Dormer Park was the second most profitable condo resale transaction during the week in review. The fourth-floor unit fetched $3.4 million ($2,038 psf) on June 5. The unit last changed hands in May 2007 for $1.82 million ($1,091 psf). Thus, the seller made a gain of $1.58 million (87%), which works out to an annualised profit of 3.7% across 17 years.
A gain of $1.58 million was made from the sale of a 1,668 sq ft unit at Dormer Park for $3.4 million ($2,038 psf) on June 5 (Picture: Google Maps)
Dormer Park was completed in 1993 with 92 residential units. The freehold development is one of several high-end condos that line Jervois Road, including the 109-unit Mon Jervois and the 108-unit Jervois Lodge. It is also in the vicinity of the Bishopsgate-Chatsworth Good Class Bungalow enclave. Apartments at Dormer Park include two- to four-bedders between 1,227 and 2,540 sq ft.
The unit sold on June 5 is the first apartment at Dormer Park to be sold in over a year. Last year, the condo saw just two units change hands, both of which were profitable transactions. On July 19, a 1,668 sq ft unit was sold for $3.35 million ($2,008 psf), with the seller netting a gain of $962,000. On Aug 28, another 1,668 sq ft unit fetched $3.22 million ($1,930 psf), with the seller raking in a gain of $1.92 million.
Meanwhile, the sale of a 1,916 sq ft unit at Helios Residences was the most unprofitable condo resale transaction during the week in review. The three-bedroom unit was sold for $4.25 million ($2,218 psf) on June 5. The seller acquired the unit from the developer in July 2007 for $5.36 million ($2,798 psf). This means they made a loss of $1.11 million (21%) after owning the unit for nearly 17 years, which reflects an annualised loss of 1.4%.
A 1,916 sq ft unit at Helios Residences fetched $4.25 million ($2,218 psf) on June 5, incurring a loss of $1.11 million for the seller (Picture: Samuel Isaac Chua/The Edge Singapore)
Helios Residences is a 140-unit freehold condo which was completed in 2011. Located along Cairnhill Circle in prime District 9, it is close to the Orchard Road shopping belt. The development comprises two blocks with two- to four-bedroom units of 1,281 to 2,002 sq ft. There are also four-bedroom penthouses of 3,918 to 4,629 sq ft.
Besides the unit sold on June 5, Helios Residences has seen three other units change hands to date this year, two of which were unprofitable deals. On Jan 10, the seller of a 1,916 sq ft unit suffered a loss of $1.7 million after it was sold for $4.6 million ($2,401 psf). On May 17, a 1,281 sq ft unit fetched $3.2 million ($2,498 psf), with the seller netting a loss of around $612,000.
Read also: Four-bedder at Marina Bay Suites sold at $2.1 mil loss
Check out the latest listings for One Amber, Dormer Park, Helios Residences properties
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