The property that was put up for auction at D’Oasia, located along Lorong Melayu, is a one-bedroom unit spanning 538 sq ft (Credit: Edmund Tie)
SINGAPORE (EDGEPROP) - A one-bedroom unit at D’Oasia, along Lorong Melayu, off Sims Avenue East, in District 14, was put up for auction for $790,000 ($1,468 psf) on Nov 16, but was unsuccessful, according to Edmund Tie, which is handling the bank auction.
Spanning 538 sq ft, the unit is on the second floor of the development, and is in a “well-kept” condition, says Joy Tan, senior director, head of auction and sales at Edmund Tie. “The new owner will only need simple renovation works, especially if it is for rental purposes,” Tan notes. The unit is well-sized, as compared to many newer condominiums that offer one-bedroom units that are slightly bigger than 400 sq ft, she adds.
“With new launch prices of 99-year condominiums in the east of Singapore moving towards the $2,000 psf mark, this freehold development can look forward to capital appreciation in the future,” says Tan, pointing to a one-bedroom unit at nearby development Parc Esta, located along Sims Avenue, that transacted at $2,050 psf in May this year. (Browse newly launched condos in Singapore right now)
The most recent transaction at D’Oasia was on June 7, when a 1,098 sq ft unit on the fourth floor changed hands for $1.3 million ($1,184 psf). On Jan 7, a 570 sq ft unit on the second floor transacted at $795,000 ($1,394 psf), based on URA caveats lodged.
“Even though the unit is on level two, it is bright and windy as it is located within a landed area,” she notes. The kitchen area can be enclosed with a door, and is ideal for those who prefer to cook, Tan adds.
Similar-sized units at the development have fetched between $1,900 and $2,100 of monthly rent this year, based on rental transactions lodged with URA.
Completed in 2010, D’Oasia comprises four-minute walk to Kembangan MRT Station on the East-West Line, and is located off the main road, tucked away from Sims Avenue East and Changi Road.
It is situated in a good location in Singapore’s east side, being one to two MRT stops away from amenities like Bedok Mall, PLQ Mall and SingPost Centre, says Tan. Eunos Crescent Market and Food Centre is a 10-minute walk away.
Check out the latest listings near D’Oasia, Kembangan MRT Station