Waterbank Dakota Reaches New High 2290 Psf

in SingaporeIn the week of May 24 to June 1, Waterbank at Dakota, Goldenhill Park Condominium, and Amaranda Gardens emerged as the top three condos that reached new psf-price highs. Recent resale transactions at these developments have seen significant profit gains for the sellers.May 27 marked a significant milestone for Waterbank at Dakota, as its first transaction above $2,200 psf was achieved when a 1,130 sq ft unit on the 15th floor changed hands for $2.59 million or $2,290 psf. This 99-year leasehold development is within walking distance of Dakota MRT Station and several reputable schools.On the other hand, Goldenhill Park Condominium in Serangoon recorded a new psf-price high of $2,150 psf from the sale of a two-bedroom unit for $1.99 million on May 30. The 14th-floor unit measures 926 sq ft and was previously purchased at $1.23 million ($1,329 psf) in 2011. Meanwhile, Amaranda Gardens saw its new high of $2,133 psf set on May 24 with the sale of a 1,163 sq ft, three-bedroom unit for $2.48 million. This development is a freehold condo on 120 Serangoon Avenue 3 and was completed in 2004.All in all, these recent transactions showcase the strong demand for properties in Singapore’s prime districts and the potential for profit gains in the long run.

There was a significant increase in psf-prices for condos in Singapore between May 24 and June 1, with Waterbank at Dakota leading the way. A resale transaction for a three-bedroom apartment on the 15th floor of the development on May 27 set a new record at $2,290 psf, making it the first unit to be sold above the $2,200 psf mark. The buyer paid $2.59 million for the 1,130 sq ft unit, which was a huge profit for the seller who bought it for $1.37 million in 2010. This indicates a gain of $1.22 million.

Waterbank at Dakota is a 99-year leasehold development located in District 14. It has a total of 616 units, ranging from one- to four-bedrooms and penthouses. Completed in 2013, it is within walking distance to Dakota MRT Station and several educational institutions such as Kong Hwa School, Broadrick Secondary School and Chung Cheng High School (Main).

Second on the list is Goldenhill Park Condominium, which hit a new high of $2,150 psf with the sale of a two-bedroom unit for $1.99 million on May 30. The 14th-floor unit spanning 926 sq ft was bought in 2011 for $1.23 million, resulting in a profit of $760,000 for the seller. This surpasses the previous record of $2,082 psf in April when a 936 sq ft, two-bedroom unit fetched $1.95 million. The seller purchased the unit from the developer in 2001 for $673,750, making a profit of $1.28 million.

Located in Serangoon (District 20), Goldenhill Park Condominium is a freehold development completed in 2004. It has 390 units of two- to four-bedroom apartments ranging from 926 to 2,928 sq ft, and is within walking distance to Lorong Chuan MRT Station.

Amaranda Gardens, also located in Serangoon, set a new high of $2,133 psf on May 24 with the sale of a three-bedroom unit for $2.48 million. The second-floor unit spanning 1,163 sq ft was bought for $1.72 million earlier this year, resulting in a profit of $760,000. The previous record of $2,128 psf was set on February 29 when a 1,259 sq ft, three-bedroom unit was sold for $2.68 million. The seller purchased it for $1.65 million in 2015, making a gain of $1.03 million.

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Completed in 2004, Amaranda Gardens has 189 units across three 17-storey towers, comprising a mix of two-bedders from 990 sq ft, three-bedders from 1,163 sq ft, and four-bedders from 1,464 sq ft. It also has four- and five-bedroom penthouses ranging from 2,453 to 3,864 sq ft.

Overall, these recent transactions demonstrate the strong demand for properties in prime districts of Singapore and the potential for long-term profit gains.