A 1,066 sq ft, two-bedroom unit at Cyan is on the market at $2.18 million ($2,045 psf). The south-facing unit is well maintained and looks new as the condo is only about three years old, says marketing agent Linda Yang, senior marketing director at ERA Realty Network.
The owner is an Indonesian who is selling as he is returning to Indonesia, says Yang. The unit has been rented out at $4,500 a month until July 2018, which translates into a gross rental yield of about 2.5%, based on the asking price.
Cyan is a freehold condominium on Keng Chin Road, off Bukit Timah Road, in prime District 10. Developed by Far East Organization, the project was completed in 2014. It comprises 278 units in two 24-storey towers. Schools within 1km of the development include Singapore Chinese Girls’ Primary School and Anglo-Chinese School (Primary). Cyan is located close to the Stevens MRT station, which will be an interchange for the Downtown Line and the upcoming Thomson-East Coast Line.
So far this year, five 1,000 to 1,100 sq ft units at Cyan have been sold at between $1,973 and $2,158 psf. The latest transaction was the sale of a 1,076 sq ft unit that went for $2.13 million ($1,979 psf) on Aug 28. In June, a 1,066 sq ft unit on the 17th floor fetched $2.3 million ($2,158 psf).