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BELOW $1 MILLION: One-bedder in Marine Parade

By Metta Lee

/ The Edge Property |

May 18, 2016 4:07 PM SGT

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A 592-sq ft, one bedroom unit at The Shore Residences has been listed on TheEdgeProperty.com at $930,000, or $1,571 psf.

The property’s latest transaction was in April 2016, when an 872 sq ft unit changed hands for $1.4 million, or $1,615 psf.

The Shore Residences is a 103 year leasehold condominium located on Amber Road. Completed in 2014, the 408-unit development is across the road from Katong Shopping centre. It is also within 500m from East Coast Park and Parkway Parade.

Schools within a 1km radius of the property include Tao Nan School, Tanjong Katong Primary School and Haig Girls' School.

There were three rental contracts for 500 to 600 sq ft units at The Shore Residences in April 2016. Monthly rents averaged $3,033, or $5.53 psf. Based on the listing price of $930,000, the average rent translates into a potential gross rental yield of 3.9%.

Recent transactions for 592 sq ft units at The Shore Residences

Contract date	Unit size	Price ($)	Price ($ psf)
22-Apr-16	872	1,408,000	1,615
16-Mar-16	592	910,000	1,537
28-Dec-15	872	1,313,000	1,506
23-Nov-15	872	1,288,000	1,477
19-Nov-15	872	1,385,000	1,589

Source: URA, The Edge Property

Recent rental contracts for 500 to 600 sq ft units at The Shore Residences

Lease start date	Monthly Rent	Monthly Rent (psf)
Apr-16	3,000	5.5
Apr-16	3,000	5.5
Apr-16	3,100	5.6

Source: URA, The Edge Property

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