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

A One Amber 4-bedder which was recently sold for $3.75 million ($2,205 psf) on Aug 23, accomplished the most capital gain for the seller when this resale transaction happened during the week of Aug 22 to 29, based on caveats lodged with URA. The 4-bedroom condo unit was transacted for $3.75 million ($2,205 psf) on Aug 23 which was acquired previously by the seller in May 2006 for $1.32 million ($778 psf) from the developer, translating to a magnificent gross gain of $2.43 million or 184% after being the apartment legal proprietor 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 accomplished 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 smashed and broken. The seller had purchased successfully the unit in April 2006 for $919,800 ($668 psf). A freehold condo built by UOL Group and Singapore Land Group, One Amber is a condo with multiple layout from four 23-storey towers with a total of 562 units. The freehold condo which was built in 2K10 has a diverse of configurations from one- to four-bedroom units of 570 to 3,100 sq ft. There are also penthouses with four bedrooms 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 acquired by purchaser for $2.48 million ($1,889 psf) on March 22. The seller had previously established 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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