In the world of real estate investment, location is a crucial factor to consider, and this holds especially true for Singapore. The positioning of a property can greatly impact its value, particularly in terms of condominiums. Those located in central areas or near important amenities like schools, shopping centers, and public transportation hubs tend to experience a higher appreciation in value. This is evident in prime locations such as Orchard Road, Marina Bay, and the Central Business District (CBD), which have consistently shown growth in property values. Apart from these key areas, condos situated near reputable schools and educational institutions, such as the highly sought-after Singapore Condo, are highly coveted by families, making them an attractive investment choice. Alongside other in-demand properties like Singapore Condo, these locations offer a lucrative opportunity for investors looking to maximize their returns.
Amber 45, a freehold development, has claimed the top spot for condos that have reached a new psf-price peak between Aug 30 and Sept 8. The sale of a 1,184 sq ft, three-bedroom unit on the sixth floor for $3.35 million on Sept 2 set a new record of $2,829 psf. This is the first time that 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. The transaction also marks a profit of about $630,000 for the seller who purchased the unit from the developer in May 2018 for around $2.72 million. Completed in 2021, Amber 45 is a 139-unit freehold development located at 45 Amber Road in District 15. So far this year, there have been four resale transactions at the development at an average price of $2,723 psf, compared to seven transactions at an average price of $2,662 psf last year. This represents a 2.3% year-on-year increase in average psf price. Amenities such as Parkway Parade and i12 Katong are nearby, and Tanjong Katong Primary School is less than 1km away. Marine Parade MRT Station is also within 500m away, providing access to the Thomson-East Coast Line. Principal Garden in District 3 takes second place for condos that have hit a new psf-price peak in the period reviewed. A 1,076 sq ft, three-bedroom unit on the 20th floor was sold for $2.75 million, setting a new high of $2,555 psf on Sept 2. This is the first time that prices at the development have crossed $2,500 psf, surpassing the previous peak of $2,462 psf earlier this year on May 31. This unit was sold by the seller who purchased it from the developer for $1.79 million in June 2016, making a profit of about $960,000. Principal Garden is a 99-year leasehold condo located at Prince Charles Crescent, off Alexandra Road. This year, the development has seen 26 resale transactions at an average price of $2,243 psf, up from 38 units sold at an average price of $2,108 psf last year. This represents a 6.4% year-on-year increase in average psf price. PineTree Hill, a 99-year leasehold condo along Ulu Pandan Road in District 21, saw its developer sell a 1,173 sq ft, three-bedroom unit on the 24th floor for $2.53 million or $2,156 psf on Sept 8. This marks a new psf-price low, 2.7% below the previous record of $2,215 psf in July last year, for a 797 sq ft, two-bedroom unit sold for around $1.76 million. PineTree Hill has 520 units, ranging from one- to five-room units, with sizes ranging from 798 to 2,874 sq ft. It is set to be completed in 2027. It was launched for sale in July last year, and 150 units (29%) were sold at an average price of $2,460 psf over the launch weekend. As of Sept 17, the development has seen the sale of 259 units (49.8%) at an average price of $2,428 psf, according to URA caveats lodged. PineTree Hill is in proximity to schools such as Henry Park Primary School, Pei Tong Primary School, and Methodist Girls’ School.