Thursday 28 July 2022

My View On Amo Residence

Stunning. The Amo Residence was nearly sold out after launch with an average price about $2100psf which was close to my expectation. I had visited the show flat, the buzz on the ground was apparent as those without an appointment were made to wait and queues formed just to get into a display unit. We were allowed three minutes and the minders started to shoo us on the dot. There were several attractive points about this development. Located within proximity to popular schools, well designed public spaces with ample facilities such as swimming pools (seven in total!), great greenery views and the finish quality was certainly up to standard. However, the maintenance fee at around $420 per month is quite expensive. There's one sticking point which I feel could adversely impact the value of this location in the future. Around the corner, there resides a forty year old with block number 259 of a HDB flat. Surrounding it includes an open car carpark and grassy patches which combined together, could be rebuilt into several blocks of HDB or a nice boutique condominium. A check on URA Master Plan confirms this.

The above development potential may or may not happen in the near future. Nobody knows except the person in charge of land sales. My take is, congratulations to Amo Residence for such a wonderful sales result. It had set a new benchmark for the area although I'm curious about the buyers who could afford such a big purchase given known factors such as rising interest rate and a pending economic slowdown. Perhaps it could be pent up demand and cash hoard over the past few years. Let's see whether there are any irregular exercise of the sales option in the coming weeks. Please, I hope Lentor Central is not as hot when it launches. Regardless, in our local lingo, I'm still stunned like a vegetable. 

Tip: Drappier Blanc De Noir NV, off dry mineral, soft acidity and nice citrus notes

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