Amber Park is an exciting upcoming freehold development located along Amber Road in District 15. It comprises of 592 units from 1 bedroom to 5 bedrooms, with majority of the units having unblocked views of the Chinese Swimming Club and the sea.
|Project name||Amber Park|
|Address||16,18 & 18A Amber Gardens|
|Number of units||592|
|Developer||CDL and Hong Leong Group|
|Land size||213,675 sq ft|
There will be a total number of 592 units. Amber Park will be made up of 3 blocks of 21 stories of residential units and a communal sky garden at 22nd storey. This sky garden will allow residents and visitors an unblocked view of the sea.
|Unit Type||Size||Number of units|
|2BR + Study||680-910sqft||120|
Amber Park, a 200 unit freehold condominium in Katong, was sold in 2018 to City Developments Ltd (CDL) and Hong Leong Group through an enbloc process. Built in 1986, this is Amber Park’s 4th attempt at an enbloc sale which has finally gotten through in 2018 amidst a red hot enbloc market.
The sale price reflects a land price of about S$1,515 per sq ft per plot ratio, based on the allowable gross plot ratio of 2.8. The developers are likely to launch Amber Park at around $2,500 to $2,600 per square foot. This is in line with the rare freehold tenure status coupled with sea fronting views that this project would boast.
Amber Park will boast a large freehold site area of more than 200,000sqft which is rare in the District 15.
It is an established private residential enclave that enjoys a strong following from both locals and expatriates due to its proximity to the central business district (CBD), malls such as Parkway Parade, East Coast Park and the airport.
The upcoming Tanjong Katong MRT (Thomson East Coast Line) will be ready by 2023, and is situated a mere 200m from Amber Park. Residents and tenants alike are only 5 MRT stops to Marina Bay and 11 stops to Orchard with the upcoming Thomson East Coast Line MRT.
Schools within 1km
Tanjong Katong Primary School
Schools within 1 – 2 km
CHIJ Katong Primary School
Haig Girls’ School
Kong Hwa School
Tao Nan School
Price trend in District 15
District 15 is very unique in many ways due to its location. It is well situated right along East Coast Parkway (ECP), which makes it an excellent location for investors and own stay buyers alike who wish to stay near the city, but yet enjoy a host of amenities and most importantly enjoy the sea view that no other locations in Singapore is able to offer.
From the above table, we see that Seaside Residences, a leasehold new project that was launched in 2017, has been transacting above 2000psf, largely because of its prime location facing the sea. On the completed projects end, we see that the transaction volumes are highest for projects with sea view, be it 99 years or those with freehold tenure. Older projects such as Seafront on Meyer and Aalto also boast unblocked sea view and are transacting close to 2,000psf as well. This shows that the demand for District 15 is robust and projects in this location have an excellent take up rate.
District 15 rental yield
The rental yield in District 15 is around 3.5-4%, which is very healthy for investors who want to purchase a unit for lease in the area.
The condos that have high transaction volumes are largely those situated near the sea, East Coast Park, and have big land space for abundant facilities. Amber Park spans more than 200,000sqft in land space, consisting of 3 Blocks of 21 stories of residential units and communal sky garden at 22nd storey. There will be ample space for residents to mix, enjoy the myriad of facilities, as well as enjoy a short stroll to the nearby Parkway Parade and East Coast Park. Imagine a nice relaxing weekend spent shopping and dining at Parkway Parade, or cycling with your children at East Coast Park.
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