Freehold luxury condominium Amber Park sold 115 units at an average S$2,425 per sq ft (psf) during its launch weekend, just a week after its preview.
Some 150 units were launched over the weekend, out of the development’s 592 units, said City Developments Limited (CDL) and its sister company Hong Realty on Sunday.
“We are very encouraged by the strong take-up at Amber Park’s first weekend launch. As a freehold project in District 15 located so close to an MRT station, Amber Park draws buyers looking for projects with good investment value,” said CDL group general manager Chia Ngiang Hong.
All apartment types saw good take-up, the developer said.
Early-bird prices start from S$1.088 million for a one-bedroom unit with a study to S$4.98 million for a five-bedroom premium unit. Unit sizes range from 463 sq ft for a one-bedroom plus study apartment to 5,005 sq ft for the largest penthouse, which has six bedrooms plus a study.
About 85 per cent of the buyers are Singaporeans, while the remaining are foreigners mainly from China, Malaysia, Indonesia, India and others, CDL said.
PropNex’s chief executive Ismail Gafoor said the sales are “an amazing achievement” for the developer in the current property market, which has seen another spate of cooling measures and surge of new projects.
But they had already seen strong demand during consumer seminars before the launch, and Amber Park has its own appeal as it is freehold and sits in the prime East Coast area, he said.
Mr Gafoor added that interested buyers included those who had gained from the en bloc of the original Amber Park, and investors keen on renting out the property.
ERA, Huttons, OrangeTee & Tie and PropNex are the marketing agencies for Amber Park.
Amber Park is expected to be completed in 2024.
The launch comes amid the entry of 2,989 new private homes to the market in the first quarter of this year, about 80 per cent more than the previous quarter.