BELOW $1 MILLION: Freehold apartment near Farrer Park

By Metta Lee / The Edge Property | March 30, 2016 11:39 AM SGT
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A 570 sq ft one-bedroom unit at Citigate Residence is looking for a buyer with an asking price of $728,000, or $1,277 psf, on TheEdgeProperty.com.
Citigate Residence is a freehold apartment project located at Rangoon Road. Completed in 2010, the 28-unit development is located within 600m from City Square Mall and Farrer Park MRT station of the North-East-Line. Schools in the vicinity include St. Joseph Institution Jr., Farrer Park Primary and Hong Wen Primary School.
Two one-bedroom apartment units at Citigate Residence, measuring between 500 and 600 sq ft, were rented out for a monthly rent of $2,500 or $4.50 psf year to date. This translates to a potential gross rental yield of 4.12% based on the asking price of $728,000.
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Historical transactions of 560 sq ft units at Citigate Residence
Contract date
Price ($)
Price ($ psf)
15-Oct-15
875,000
1,563
31-Jul-15
880,000
1,572
23-Jan-15
908,000
1,622

Source: URA, The Edge Property

Recent rental contracts for 560 sq ft units at Citigate Residence
Lease date
Monthly Rent
($)
($psf)
Feb-16
2,500
4.5
Jan-16
2,500
4.5

Source: URA, The Edge Property

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