Four-bedder at One Amber sold at $2.4 mil profit
A unit in One Amber was recently sold, achieving the most profits for the seller for this resale transaction during the week of Aug 22 to 29, based on caveats lodged with URA. The 1,700 square fee 4-bedroom condo unit was sold for $3.75 million ($2,205 psf) on Aug 23 which previously, the seller purchased this unit from developer in May 2006 for $1.32 million ($778 psf), translating to a significant gain monetary of $2.43 million or 184% after being the legal proprietor for the apartment for slightly over 17 years by the seller. The data compiled by EdgeProp Research revealed that This is the most profitable transaction recorded to date at One Amber. the record transaction established previously in April when the seller of a 1,378 sq ft unit made a profit of $2.03 million after selling it at $2.95 million ($2,141 psf) was triumphed over. The seller had acquired successfully the unit in April 2006 for $919,800 ($668 psf). One Amber is a freehold condo with multiple layout from four 23-storey towers with a total of 562 units. The freehold condo which was built in 2K10 by UOL Group and Singapore Land Group, has a spectrum of configurations 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 second most profitable resale transaction during the week in review with the sale of a 1,313 sq ft unit in Butterworth condominium for $2.45 million ($1,866 psf) on Aug 23. Previously purchased from the developer in March 2002 for about $898,590 ($684 psf), The seller rake in a profit of $1.55 million (173%) after holding the unit for 21½ years. This is Butterworth’s second most profitable transaction registered to date. The development most profitable transaction occurred earlier this year, when a 1,313 sq ft, three-bedroom apartment was sold for $2.48 million ($1,889 psf) on March 22. The seller had previously accomplished the legal completion with the purchase of the unit for $798,000 in August 2006,translating to a capital appreciation of $1.68 million or 211% on the transaction.
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