Amber Park sells 115 units on launch weekend at average price of $2,425 psf

By
/ EdgeProp Singapore
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May 5, 2019 11:11 PM SGT
City Developments Ltd (CDL) and joint-venture partner Hong Realty, sold 115 units at Amber Park as at 5pm on Sunday, May 5. The figure translates to 77% of a total of 150 units released for sale on launch weekend. Based on an average selling price of $2,425 psf after an early bird discount, total sales over the weekend amounted to more than $240 million. It was considered “the best-selling new, freehold property launch this year”, says CDL.
About 85% of the buyers at Amber Park are Singaporeans (Credit: CDL)
The 592-unit project was launched for sale just one week after its sales gallery opened for viewing on April 27. Unit sizes range from 463 sq ft for a one-bedroom-plus-study apartment to 5,005 sq ft for the largest six-bedroom-plus-study penthouse.
Prices started from $1.088 million for a one-bedroom-plus-study; $1.608 million for a two-bedroom-plus-study; and $2.18 million for a three-bedroom. Prices for a four-bedroom-plus-study started from $3.068 million and a five-bedroom premium from $4.98 million.
“All apartment types enjoyed a good take-up rate”, and units sold included one of the penthouses, according to CDL in a release. About 85% of the buyers are Singaporeans, with the remaining made up of foreigners, predominantly from China, Malaysia, Indonesia and India.
Amber Park's rooftop recreational deck that spans across all three towers (Credit: CDL)
Many of the buyers are homeowners and savvy investors who took advantage of the “attractive early-bird pricing”, says CDL group general manager Chia Ngiang Hong. These included existing residents in the East looking to purchase “an iconic property”, he adds.
The freehold project’s location in prime District 15, and proximity to the Tanjong Katong MRT station on the Thomson-East Coast Line, were also factors that drew buyers looking for projects with “good investment value”, he notes.
“We are very encouraged by the strong take-up at Amber Park’s first weekend launch,” adds Chia. “Sales for this project are off to a good start, indicating healthy demand for...