BELOW $1 MILLION: One-bedder in Queenstown

By Tan Chee Yuen / The Edge Property | September 21, 2016 12:48 PM SGT
A 398 sq ft one-bedroom unit at Alexis has been listed on TheEdgeProperty.com at $695,000, or $1,746 psf.
Alexis is a freehold mixed-use development with a total of 293 residential units sitting on top of 21 strata shops. Completed in 2012, Alexis comprises a mix of one- and two-bedroom units. It is located within 500m from Queenstown MRT station and IKEA Alexandra. Schools within 2km from the property include Gan Eng Seng Primary School and Queenstown Primary School.
The latest transaction at Alexis involved a 409 sq ft unit which changed hands for $682,000, or $1,667 psf in September this year. Monthly rents for 300 sq ft to 400 sq ft units averaged $2,442 based on 13 rental contracts in the past three months. This translates into a potential gross rental yield of 4.2% based on the asking price.
ADVERTISEMENT
For more information, call marketing agent Ade Chua at 8188 8871
Recent transactions at Alexis
Contract date
Floor
Area (sq ft)
Price ($)
Price ($ psf)
9-Sep-16
Low
409
682,000
1,667
24-Aug-16
Low
398
675,000
1,695
15-Jun-16
Low
388
690,000
1,781
10-Jun-16
Low
409
682,000
1,667

*Low floors: L1 to 7, Mid floors: L8 to 15, High floors: L16 & above

Source: URA, The Edge Property

Recent rental contracts at Alexis for 300 sq ft to 400 sq ft units
Lease date
Monthly rent
($)
($psf)
Aug-16
2,200
6.30
Aug-16
2,500
7.10
Aug-16
2,350
6.70
Aug-16
2,900
8.30
Aug-16
2,400
6.90
Aug-16
3,100
8.90
Jul-16
2,500
7.10
Jul-16
2,400
6.90
Jul-16
2,500
7.10
Jul-16
2,300
6.60
Jul-16
2,300
6.60
Jul-16
2,300
6.60
Jun-16
2,000
5.70

Source: URA, The Edge Property