BELOW $1 MILLION: Freehold apartment in Balestier

By Tan Chee Yuen / The Edge Property | October 5, 2016 11:28 AM SGT
A 441 sq ft, one-bedroom unit at The Verve is looking for buyers on TheEdgeProperty.com at $699,000, or $1,585 psf.
The Verve is a freehold apartment located along Jalan Rajah, off Balestier Road. Completed in 2012, the development comprises 106 units in a single 19-storey tower. It is located within 200m from Zhongshan Mall. Schools within 1km from the property include Balestier Hill Primary School and CHIJ Primary (Toa Payoh).
There was a 441 sq ft unit sold this year for $700,000, or $1,586 psf on July 1. Monthly rents averaged $1,960 based on five rental contracts in the past three months. This translates into a potential gross rental yield of 3.4% based on the asking price.
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For more information, call marketing agent Neo Fang Ning at 8288 8568.
Past transactions at The Verve
Contract date
Area (sq ft)
Price ($)
Price ($ psf)
7-Sep-16
818
910,000
1,112
1-Aug-16
818
905,000
1,106
1-Jul-16
441
700,000
1,586
28-Apr-16
614
780,000
1,271

Source: URA, The Edge Property

Past rental contracts for 400 sq ft to 500 sq ft units at The Verve
Lease date
Monthly rent
($)
($psf)
Aug-16
1,600
3.60
Aug-16
2,100
4.70
Jul-16
2,200
4.90
Jul-16
1,800
4.00
Jul-16
2,100
4.70

Source: URA, The Edge Property