DEAL WATCH: Conservation terraced house on Kim Yam Road going for $2.78 mil

/ EdgeProp |
Join our  Telegram  channel and follow our  Facebook  for the latest update.
A rare 2½-storey conservation intermediate terraced house on Kim Yam Road has been listed on for $2.78 million ($2,468 psf). The property sits on a land area of 1,130 sq ft and has a 99-year lease starting from 1997. It has a built-up area of about 1,800 sq ft and comes with three en suite bedrooms.
The conservation house is located off Mohamad Sultan Road in the prime River Valley area. (Picture: Samuel Issac Chua/The EdgeSingapore)
The house is leased to three expatriate employees of a Singapore-listed company at $5,200 a month until 3Q2019. There has been a downward rental revision because of a softening of the overall rental market. Previously, an expatriate family had occupied the house from 2012 to 1Q2017 at a monthly rental rate of $7,700, according to Elaine Goi, senior division director at Knight Frank, the managing agent for the property.
The owner has been holding on to the property as an investment since 2012. Because the gross rental yield has fallen from 3.36% to 2.27%, the owner decided to put the property up for sale last month.
The house is located off Mohamad Sultan Road in the prime River Valley area of District 9. Goi says the property is expected to attract buyers who want to own a rare conservation terraced house.
The last transaction on that row was in February 2017, when another terraced house sitting on a 99-year leasehold land area of 1,195 sq ft changed hands for $2.5 million.
This article appeared in the EdgeProp Pullout, Issue 812 (Jan 8, 2018)

Follow Us
Follow our channels to receive property news updates 24/7 round the clock.
EdgeProp Telegram
EdgeProp Facebook
Subscribe to our newsletter

Our Site (previously known as The Edge Property Singapore) is the best property portal for real estate agents, investors, home-seekers and sellers alike in Singapore. On EdgeProp, you will be able to find the latest and hottest property news, property listings, and access tools for your research and analysis.

Whether you are looking to buy, sell or rent apartments, condominiums, executive condos, HDBs, landed houses, commercial properties or industrial properties, we bring you Singapore’s most comprehensive and up-to-date property news and thousands of listings to facilitate your property decisions. Click into any listing to check out the new AI Redesign tool to envision your property based on your preferred style, be it Scandinavian, Minimalist or many others.

View More