A 1,098 sq ft, high-floor unit at Soleil @ Sinaran in prime District 11 has been listed for sale on TheEdgeProperty.com. The two-bedroom unit has a price tag of $1.95 million, or $1,776 psf, translating into a gross yield of 3.8%. It is currently leased at a monthly rental rate of $6,100 until September 2018, according to property agent Anthea Yeo of PropNex Realty, who is marketing the unit.
A similar-sized unit at the 99- year leasehold Soleil @ Sinaran changed hands for $1.88 million ($1,712 psf) last September. There were five transactions at the project this year. Prices ranged from $1.76 million ($1,879 psf) for a 936 sq ft unit on the 34th floor to $2.64 million ($1,532 psf) for a 1,722 sq ft unit on the 12th floor.
Soleil @ Sinaran unit up for sale at $1,776 psf
The 417-unit Soleil @ Sinaran, developed by Frasers Centrepoint, was completed in 2011 and is located in the vicinity of Novena Medical City, just a short walk from the Novena MRT station, which is linked to three shopping malls: Velocity, Square Two and United Square shopping centre.
Owing to its location, the project continues to see a relatively active rental market. In the past three months, URA rental data shows that monthly rents at Soleil @ Sinaran ranged from $5,450 to $6,700 for 1,000 to 1,100 sq ft units.