VTX Solutions

Is Amber Skye a good investment?

Press Release   •   Sep 26, 2014 16:04 +08

Amber Skye, a 109 unit development, was launched on Thursday, 11 September, 2014. Five units were sold during a week-long preview ahead of the official launch date. The sold units were all two-bedders of 1,119 square feet (sq ft), and bought by Singaporeans for $1,800 to $1,900 psf.

Amber Skye is a joint venture (JV) between OKP Holdings (OKPLand), and China Sonangol Land. The development has a freehold tenure, and is located along Tanjong Katong South Road. The indicative pricing for the units is set at $1,800 psf. The actual site is situated close to two existing developments, King’s Mansion, and 16 @ Amber. It is also conveniently located close to the upcoming Amber MRT station along the Thomson-East Coast Line (TEL), scheduled for completion by 2024.
 
Amber Skye is located near several amenities around the neighbourhood, including Parkway Parade Shopping Centre, Katong Shopping Centre, and 112 Katong. It is also accessible via East Coast Parkway (ECP) to the city and to Changi Airport. There are a good number of renowned schools located around Amber Skye including Tanjong Katong Primary School (1 KM); Kong Hwa School (2 KM); Haig Girls’ School (2 KM); CHIJ (Katong) Prmary School (2 KM); Tao Nan School (2 KM); Ngee Ann Primary School; CHIJ Katong Convent; Tanjong Katong Girls’ School; Tanjong Katong Secondary School; St. Patrick’s School; Victoria School; Victoria Junior College (VJC); EIS International Pre School; Canadian International School; Chatsworth International School; and Kingston International School.

Categorized as an apartment project, the nearest comparable development is 16 @ Amber with a recent transacted median unit price of $1,663 per square feet ($ psf). At a median unit selling price of $1,670 psf, Amber Skye appears to be fairly valued on relative terms. If we compare the nearby condominium-type developments, including Amber Residences and King’s Mansion, the median price of $1,670 psf does not seem to be quite far off, considering that Amber Residences is located quite a distance from Amber MRT station, and King’s Mansion is a relatively older apartment compared to the upcoming Amber Skye.

Some of the distinct features that separate the pricing of Amber Skye from the rest of its comparable projects might be the differences in the vantage points to the sea views nearby, and proximity to the future MRT station. Amber Skye - scheduled to be completed in 2017, is one of the closest projects to the upcoming Amber MRT station, and is accessible via an underground pedestrian mall linked to the station. Part of the selling prices could be reflective of the greater accessibility to public transportation.

For more information, please call +65 96526095 or visit http://www.amber-skye-condo.com/

Amber Skye is set to redefine high-rise living in eastern Singapore and a create new benchmark in luxury living. This 22-storey "Jewel of the East" is conveniently located opposite the upcoming Amber Station. You can't help but be impressed by the unique architectural design which symbolises the sea and its endless wave in motion. The facade features a series of wavy balconies that “streams” beautifully among the clouds. Majestically spacious, the balcony is your own private corner to unwind and simply gaze into the sky that stretches infinitely beyond the horizon.

For more information, please call +65 96526095 or visit http://www.amber-skye-condo.com/