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BELOW $1 MILLION: Lavender one-bedroom Condo

Metta Lee

/ The Edge Property

June 1, 2016 9:00 AM SGT

propertyeditor@edgeprop.sg

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A 560 sq ft, one bedroom unit at Citylights has been listed on TheEdgeProperty.com at $918,000, or $1,639 psf.

The development’s latest similar transaction was in April 2016, when another 560 sq ft unit changed hands for $930,000, or $1,662 psf.

Citylights is a 99 year leasehold condominium located on Jellicoe Road. Completed in 2007, the 600 unit development is across the road from Lavender MRT station of the East West Line. Schools within a 1km radius include Stamford Primary School.

In 2016, there were 15 rental contracts for 500 - 600 sq ft units at Citylights. Monthly rents for these contracts averaged $3,183. Based on the listing price of $918,000, the average rent translates into a potential gross rental yield of 4.2%.

Recent transactions for 560 sq ft units at Citylights

Contract date	Price ($)	Price ($ psf)
28-Apr-16	930,000	1,662
31-Mar-16	920,000	1,644
10-Apr-15	978,800	1,749
6-Apr-15	924,000	1,651

Source: URA, The Edge Property

Recent rental contracts for 500 to 600 sq ft units at Citylights

Lease start date	Monthly Rent	Monthly Rent (psf)
Apr-16	3,400	6.20
Apr-16	3,200	5.80
Apr-16	3,050	5.50
Apr-16	3,700	6.70

Source: URA, The Edge Property

Click here for more listings at Citylights and nearby projects.

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