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BELOW $1 MILLION: Apartment unit in Toa Payoh

By Tan Chee Yuen

/ The Edge Property |

December 14, 2016 10:21 AM SGT

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An 893 sq ft unit at Oleander Towers is looking for buyer on TheEdgeProperty.com at $970,000 ($1,086 psf).

Oleander Towers is 99-year-leasehold apartment project in Toa Payoh. Completed in 1998, the 318-unit development is located within 400m from Toa Payoh MRT station and Toa Payoh Central. Schools in the vicinity include CHIJ Primary and Marymount Convent School.

The latest transaction was in November this year when a 1,141 sq ft unit fetched $1.25 million ($1,096 psf).

In the past three months, there were three rental contracts with an average monthly rent of $2,900, which translates into a potential rental yield of 3.6% based on the asking price.

Recent transactions at Oleander Towers

Contract date	Area (sq ft)	Price ($)	Price ($ psf)
4-Nov-16	1,141	1,250,000	1,096
1-Nov-16	861	1,000,000	1,161
14-Oct-16	1,141	1,270,000	1,113
23-Sep-16	861	1,018,000	1,182
30-Aug-16	1,141	1,250,000	1,096

Source: URA, The Edge Property

Recent rental contracts for 800 to 900 sq ft units at Oleander Towers

Lease date	Monthly rent
	($)	($psf)
Sep-16	2,900	3.40
Sep-16	2,800	3.30
Sep-16	3,000	3.50

Source: URA, The Edge Property

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