Amber Skye, Goodwood Grand see spike in sales post-completion

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/ The Edge Property
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July 28, 2017 11:00 PM SGT
The 109-unit Amber Skye, located on the corner of Amber Road and Tanjong Katong Road, was completed in April. Since then, about 40 units have been sold at prices ranging from $1.053 million for a 527 sq ft, one-bedroom unit on the fifth floor to $2.65 million for a 1,335 sq ft, three-bedroom unit on the 19th floor. The project is jointly developed by CS Land (formerly known as China Sonangol Land) and OKP Land.
According to Amber Skye’s marketing agent, Kelvin Tan of Huttons Asia, the developer is offering a 5%+1% discount on selected units, including one- to two-bedroom lofts, three- and four-bedroom units, three- to six-bedroom penthouses and garden villas. As at July 21, only 58 units were available for sale.
The project’s quality finishing and unit layout could be a reason for the pickup in transactions since completion. Another attraction could be the freehold project’s location, which is directly across the road from the upcoming Tanjong Katong MRT station on the Thomson-East Coast Line.
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Amber Skye is located directly across the road from the upcoming Tanjong Katong MRT station on the Thomson-East Coast Line
In the Balmoral area, Goodwood Grand obtained its Temporary Occupation Permit in June. The developer relaunched the project upon completion and, since then, 14 units have been snapped up even without discounts being offered, according to Emilia Teo, business development director at Tong Eng Group.
Goodwood Grand is jointly developed by Tong Eng Group (50%), the Ng family of Clarus Corp (20%) and listed construction group Tiong Seng Holdings (30%). The project contains 65 apartments and eight strata bungalows.
The prices of units sold in July have ranged from $1.88 million ($2,430 psf) for a 775 sq ft, two-bedroom-plus-study unit on the sixth floor, to $2.97 million ($2,419 psf) for a 1,227 sq ft, four-bedroom unit on the third floor, according to caveats lodged between July 2 and 16.
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Goodwood Grand is 63% sold. Pull factors are said to include its freehold status, location in prime District 10 and proximity to Goodwood Hills and Orchard Road. The buyers are believed to be predominantly young local couples buying for their own use, as well as some investors buying for rental income.
Meanwhile, CapitaLand released a new phase of houses at Victoria Park Villas in mid-July. The 99-year leasehold landed housing project comprises 106 semi-detached houses and three bungalows. It is located in the prestigious Victoria Park Good Class Bungalow area.
Following the launch of the new phase of semi-detached houses at Victoria Park Villas, 16 units were snapped for $3.9 million to $5.07 million on July 15. Jack Chua, CEO of ERA Realty, the marketing agent for Victoria Park Villas, says the strong pickup in transactions is because buyers have been waiting for the release of this latest phase — one of the inner clusters fronting a newly created road within the development called Victoria Park Grove. About 60% of the houses have been sold, he adds.
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Victoria Park Villas is sought-after for its proximity to top schools such as Nanyang Kindergarten, Nanyang Primary School, Raffles Girls Primary School, Hwa Chong Institution and St Margaret’s Secondary School.
This article appeared in The Edge Property Pullout, Issue 790 (July 31, 2017) of The Edge Singapore.