Amber 45 condo in District 15 tops list with new psf-price peak of $2,829 psfAsk BuddyCondo rental transactions in District 3Total number of units in Principal GardenCondo projects with most profitable transactions in District 3Recently launched projectsCompare price trend of Condo new sale vs EC new saleCondo rental transactions in District 3Total number of units in Principal GardenCondo projects with most profitable transactions in District 3Recently launched projectsCompare price trend of Condo new sale vs EC new saleArticle rewritten:A new record was set in the period between Aug 30 and Sept 8, with freehold development Amber 45 topping the list of condos that hit a new per square foot (psf) price peak. A 1,184 sq ft, three-bedroom unit on the sixth floor was sold for $3.35 million on Sept 2, setting a new high of $2,829 psf.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 set in December last year when a 700 sq ft, two-bedroom unit on the 19th floor was sold for $1.95 million.Completed in 2021, the 139-unit freehold development is located at 45 Amber Road in District 15. According to URA caveats, the seller of the three-bedroom apartment had purchased the unit from the developer for $2.72 million in May 2018, profiting around $630,000.Read also: Four Seasons Park hits new psf-price peak of $3,451Amber 45 has seen four resale transactions so far this year at an average price of $2,723 psf. Last year, the development recorded seven resale transactions at an average price of $2,662 psf, marking a 2.3% increase in average psf price year-on-year.Last 10 transactions at Amber 45. (Source: URA, EP Buddy)Amber 45 is located near several shopping malls, such as Parkway Parade on Marine Parade Road and i12 Katong on East Coast Road. It is also within 1km of Tanjong Katong Primary School and less than 500m away from Marine Parade MRT Station, providing access to the Thomson-East Coast Line.In second place for new psf-price highs during the period is Principal Garden, which saw a 1,076 sq ft, three-bedroom unit on the 20th floor being sold for $2.75 million on Sept 2, setting a new high of $2,555 psf. This is the first time resale prices at the development have crossed $2,500 psf. The new record is 3.7% higher than the previous peak of $2,462 psf, which was set on May 31, when a three-bedroom apartment on the 23rd floor was sold for $2.65 million. Last July, another three-bedroom unit on the seventh floor was sold at the same price.The unit sold on Sept 2 was purchased by the seller from the developer in June 2016 for $1.79 million, profiting around $960,000.Read also: Pinetree Hill achieves new high of $2,763 psfPrincipal Garden has recorded 26 resale transactions so far this year at an average price of $2,243 psf. Last year, the development saw 38 units change hands at an average price of $2,108 psf, marking a 6.4% increase in average psf price.Principal Garden is a 99-year leasehold condo located along Prince Charles Crescent, off Alexandra Road. Completed in 2018, the 663-unit development has four 24-storey residential towers housing one- to five-bedroom apartments spanning between 484 and 2,347 sq ft.Meanwhile, Pinetree Hill saw a new psf-price low when a 1,173 sq ft, three-bedroom unit on the 24th floor was sold for $2.53 million, or $2,156 psf, on Sept 8. This was 2.7% below the previous low of $2,215 psf set in July last year when a 797 sq ft, two-bedroom unit was sold for $1.76 million.Pinetree Hill is a 99-year leasehold condo along Ulu Pandan Road in District 21. The 520-unit development features one- to five-bedroom units ranging from 538 to 2,874 sq ft, and is expected to be completed in 2027.Last 10 transactions at Pinetree Hill. (Source: URA, EP Buddy)Pinetree Hill is situated near several schools, including Henry Park Primary School and Pei Tong Primary School within 1km, and Pei Hwa Presbyterian School and Methodist Girls’ School within 2km.Pinewood Hill was launched for sale in July last year, with 150 units (29%) sold at an average price of $2,460 psf during its launch weekend. As of Sept 17, the condo has moved 259 units (49.8%) at an average price of $2,428 psf, according to URA caveats.
When contemplating an investment in a condo, it is crucial to also analyze its potential rental yield. Rental yield refers to the annual rental income as a percentage of the property’s purchasing price. In Singapore, rental yields for condos can vary significantly depending on factors such as location, property condition, and market demand. For instance, condos near business districts or educational institutions tend to provide higher rental yields due to their high demand. It is advisable to conduct thorough research and seek guidance from real estate agents to gain a better understanding of the rental potential of a particular condo. Additionally, keeping an eye on new condo launches can also offer valuable insights into the rental market.