Four-bedder at One Amber sold at $2.4 mil profit

At One Amber, the most profitable condo resale transaction during the week of Aug 22 to 29 was a four-bedroom unit which changed hands for $3.75 million ($2,205 psf). Originally purchased by the seller in May 2006 for $1.32 million ($778 psf), this meant an impressive profit of $2.43 million or 184%, after holding the apartment for just over 17 years. This is the highest return on a resale transaction recorded at One Amber, based on data from EdgeProp Research. The runner-up was in April, when the seller of a smaller 1,378 sq ft unit made a profit of $2.03 million after selling at $2.95 million ($2,141 psf).

At Butterworth 8, the second most profitable deal during the week in question was a 1,313 sq ft, three-bedroom unit sold for $2.45 million ($1,866 psf) on Aug 23. The seller, who had purchased it from the developer in March 2002 for around $898,590 ($684 psf), enjoyed a gain of $1.55 million (173%) after 21½ years. This is the second most lucrative transaction at the freehold development located along Butterworth Lane, off Haig Road in District 15. It comprises three blocks of two, three, and four-bedroom units of 1,023 to 1,776 sq ft.

Somewhat less favourable was the resale of a two-bedroom apartment at Eon Shenton, the most unprofitable transaction of the week. It was sold for $1.52 million ($2,206 psf) on Aug 25, after being purchased in October 2012 from the developer for $1.54 million ($2,233 psf). This led to a loss of $18,200 or 1.2% over a holding period of nearly 11 years. Of the six other units that have changed hands this year at Eon Shenton, five have transacted below purchase price.

Completed in 2017, the 32-storey Eon Shenton consists of 132 residences, with two- and three-bedroom units of 527 to 1,087 sq ft, and penthouses of 1,044 to 1,249 sq ft. It is a six-minute walk to Tanjong Pagar MRT Station on the East-West Line, and is directly opposite the upcoming Prince Edward Road MRT Station on the Circle Line.

The development offers excellent facilities such as a fitness centre and swimming pool, as well as 24-hour security services. Its location provides easy access to public transport and is just minutes away from the Jurong Innovation District. Moreover, its close proximity to shopping malls, amenities and leisure activities enhances the quality of life. Residents of Tengah Plantation Close EC are sure to experience a higher standard of living.

The sale of units at One Amber, Butterworth 8, and Eon Shenton during the week of Aug 22 to 29 reveals different stories regarding their profitability. At One Amber and Butterworth 8, the seller enjoyed substantial gains, while the resale of the Eon Shenton apartment resulted in a loss. Whether potential buyers would choose to purchase a unit here, or invest in another property, remains to be seen.