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BELOW $1 MILLION: 999-year-leasehold apartment near Whampoa

By Tan Chee Yuen

January 27, 2016 4:00 PM SGT

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A 645 sq ft two-bedroom unit at Riverbay is listed on TheEdgeProperty.com at $950,300, or $1,473 psf.

Riverbay is a 999-year-leasehold apartment project that was completed in 2014. Schools within 1km from the property include Bendemeer Primary School, Hong Wen School and St. Andrew’s Junior School.

A 517 sq ft unit was recently sold for $790,000, or $1,529 psf in Sep 2015.

There were four rental contracts in 2015, involving 600 to 700 sq ft units. Monthly rent averaged $2,225, or $3.43 psf. This translates into a potential rental yield of 2.8% based on the asking price of $950,000.

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