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BELOW $1 MILLION: Freehold apartment in Geylang selling at $908 psf

Metta Lee

/ The Edge Property

April 27, 2016 10:49 AM SGT

propertyeditor@edgeprop.sg

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A 936 sq ft, three-bedroom unit at Chen Fang Mansions is listed at $850,000, or $908 psf.

Completed in 1997, Chen Fang Mansions is a 21-unit freehold apartment development located at Lorong 33 Geylang. It is within 500m from both Aljunied MRT of the East-West Line, and Paya Lebar MRT Interchange station of the East West Line and Circle Line.

Malls in the vicinity of the property are Payar Labar Square, One KM and City Square Mall. Schools within a 1km radius of the property include Kong Hwa School and Geylang Methodist School (Primary).

There were three rental contracts for 936 sq ft units at Chen Fang Mansions for the last six months. Monthly rents averaged $2,933, or $3.10 psf, which translates into a potential gross rental yield of 4.1% based on the asking price of $850,000.

Recent transactions for 936 sq ft units at Chen Fang Mansions

Contract date	Price ($)	Price ($ psf)
March 15, 2016	900,000	961
September 23, 2015	830,000	886
July 4, 2013	865,000	924

Source: URA, The Edge Property

Recent rental contracts for 936 sq ft units at Chen Fang Mansions

Lease commencement date	Monthly Rent
	($)	()
December 2015	3,100	3.30
December 2015	2,900	3.10
November 2015	2,800	2.90

Source: URA, The Edge Property

Click here for more listings at Chen Fang Mansions and nearby projects.

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