A 1,464 sq ft unit at Soleil @ Sinaran in Novena has been listed for sale on EdgeProp.sg. The two-bedroom unit has a price tag of $1.98 million, or $1,353 psf.
The loft unit was renovated about a year ago and faces the swimming pool and greenery, according to Edwin Soh, assistant division director of ERA Realty, who is marketing the unit.
It is currently leased to an expatriate for $4,800 a month until December 2018. This translates into a potential gross rental yield of 2.9% based on the asking price.
Developed by Frasers Centrepoint, Soleil @ Sinaran is a 99-year leasehold condominium with 417 units. It is adjacent to Oasia Hotel Novena and Velocity @ Novena Square, which is linked to Novena MRT station and two other malls: Square Two and Novena Square.
Owing to its proximity to amenities, Soleil @ Sinaran is said to be highly sought-after by tenants. The project has seen an improvement in rents. In 1H2017, two-bedroom units measuring between 1,400 and 1,500 sq ft were leased at $5,300 to $6,300 a month, up from $5,000 to $5,800 in 1H2016.
The latest transaction at Soleil @ Sinaran was that of a 581 sq ft unit that changed hands for $1.19 million ($2,047 psf) on Aug 21. This is the first time prices surpassed the $2,000 psf mark since July 2015, when a 581 sq ft unit was sold for $1.2 million (2,064 psf).
This article appeared in The Edge Property Pullout, Issue 797 (Sept 18, 2017) of The Edge Singapore