AMO Residence Dazzles Ang Mo Kio – 98% Sold On Launch Day!
Quick fact box: 365 of 372 units sold on Day 1! Just seven unsold – talk about a hot launch.
Why People Are Swarming That Block
- It’s the first major private development in Ang Mo Kio in over eight years.
- Mostly local buyers, many families buying multiple units to stick together.
- Big drawcards: Mayflower MRT station, top schools, lush parks, and shopping malls.
What’s Inside
The 99‑year leasehold splash in Ang Mo Kio Rise features:
- 2‑ to 5‑bedroom homes – from 614 sq ft up to 1,475 sq ft.
- Three swanky penthouses ranging from 2,293 sq ft to 2,497 sq ft.
Price Snapshot
Units start at $1,890 psf. The baseline two‑bedroom unit sits at roughly $1.26 million.
Market Twist – Rising Rates, Still Sizzling Demand
- All three local banks have nudged home‑loan rates up; 2‑ and 3‑year fixed starts at 2.75% now.
- Previously, a 3‑year fixed was a sweet 1.15% back in Q4 of last year.
- The US Fed’s May rate hike has cascaded into higher mortgage costs.
Despite these financial nudges, the Urban Redevelopment Authority notes a 3.6% rise in private non‑landed home prices in Q2 over Q1. Key culprits:
- Piccadilly Grand (Northumberland Road) – 324 units sold at a median of $2,175 psf.
- Liv@MB (Mountbatten) – 231 units at a median of $2,408 psf.
Bottom line: buyers are stepping up, the market remains active, and the property’s perks keep the hype alive.
