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BELOW $1 MILLION: One-bedder in the heart of the CBD

Metta Lee

/ The Edge Property

August 2, 2016 11:25 AM SGT

propertyeditor@edgeprop.sg

propertyeditor@edgeprop.sg

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A 495 sq ft, one-bedroom unit at The Clift on McCallum Road has been listed on TheEdgeProperty.com at $999,999 or $2,020 psf.

The last time a unit at The Clift transacted below $1 million was in April 2011, when another 495 sq ft unit changed hands for $990,000.

Completed in 2011, The Clift is a 99-year leasehold apartment located in the heart of the CBD.

Based on data technology developed by TheEdgeProperty.com, the 312-unit development ranks 4.8/5 in connectivity, with Telok Ayer MRT station of the Downtown Line and Tanjong Pagar MRT station of the East-West line within a 400m radius. It is also within 500m from upcoming MRT stations Maxwell MRT station and Shenton Way MRT station of the Thomson-East Coast Line.

Shopping centres within 500m from the development include International Plaza and China Square Central. Schools within a 1km radius include Cantonment Primary School.

There were 14 rental contracts for 400 to 500 sq ft units at The Clift in 2016. Monthly rents averaged $3,379. Based on the listing price of $999,999, the average rent translates into a potential gross rental yield of 4%.

For more information, call marketing agent Tan Pei Cheng at 9710 0155.

Recent transactions at The Clift

Contract date	Area (sq ft)	Price ($)	Price ($ psf)
July 21, 2016	527	1,100,000	2,086
June 28, 2016	775	1,350,000	1,742
May 31, 2016	527	1,010,800	1,916
May 20, 2016	753	1,320,000	1,752
April 14, 2016	495	1,045,000	2,110
April 8, 2016	764	1,340,000	1753
March 23, 2016	495	1,000,000	2020

Source: URA, The Edge Property

Recent rental contracts for 400 to 500 sq ft units at The Clift

Lease date	Monthly rent
	($)	()
June 2016	3,300	7.30
June 2016	4,300	9.60
May 2016	3,000	6.70
May 2016	3,600	8.00
April 2016	3,100	6.90
April 2016	3,100	6.90

Source: URA, The Edge Property

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