City Suites offers freehold investment opportunity

By City Suites / Brought to you by SingHayi Group | July 24, 2017 6:30 PM SGT
Panoramic view from a high-floor unit at City Suites
CITY SUITES is a 56-unit freehold development on Balestier Road by Singapore-listed international property developer SingHaiyi Group. What is unique about the project is that it has a wide range of one-bedroom units, which are sought-after by investors. The project is expected to obtain its Temporary Occupation Permit (TOP) in 3Q2017, which means that buyers will be able to enjoy rental income almost immediately.
The one-bedroom units come with fully fitted kitchen appliances and cabinetry, bathroom accessories, as well as a built-in wardrobe. Unit sizes range from 452 to 527 sq ft. Assuming an average selling price of $1,800 psf and a monthly rent of $2,500, investors can achieve a gross rental yield of 3.1% to 3.7%.
The developer has put a lot of thought into the design of City Suites: All the units are north-south facing and have 3.3m ceiling height. There are also four duplex penthouses with double-volume ceiling height and a loft-like bedroom. The duplex penthouses range from 925 to 1,120 sq ft. Underground parking is also available for residents.
City Suites is expected to obtain its TOP in 3Q2017
INCREASED VIBRANCY
The Balestier area has become vibrant over the years with the opening of international schools nearby such as Curtin Singapore, East Asia Institute of Management and Global Indian International School.
The Balestier area has become vibrant over the years with the opening of international schools nearby such as Curtin Singapore
With the increase in foreign student population, interesting F&B outlets have sprung up, such as ice-cream parlour Regroup x Scoop Therapy, pet-friendly café Paw Pet-radise, The Clueless Goat coffee house and Wheeler’s Yard, an industrial warehouse café that is a favourite with cyclists. These...