DEAL WATCH: Freehold apartment in District 15 selling at $1,148 psf
By Tan Chee Yuen
/ The Edge Property |
A 958 sq ft two-bedroom unit at The Medley is being put up for sale at $1.1 million, or $1,148 psf on TheEdgeProperty.com. The Edge Fair Value, a valuation tool on TheEdgeProperty.com, puts the indicative value of the property at slightly above $1,200 psf.
The Medley is a freehold apartment development located on Lorong G Telok Kurau and comprising just 37 units
The listed price of $1,148 psf is below the concluded price of a similar-sized unit in April 2015 when an 893 sq ft unit was sold for $1,231 psf. In August 2013, meanwhile, a 958 sq ft unit found a buyer at $1,232 psf.
The Medley is a freehold apartment development located on Lorong G Telok Kurau and comprising just 37 units. Completed in 2009, it is within 500m of the Kembangan MRT station of the East-West Line. It is also well-connected via bus service to the CBD, Orchard shopping belt and Tampines Regional Centre. Popular schools located within 2km of the development include CHIJ (Katong) Primary, Haig Girls’ School and Tao Nan School.
In 2015, there were four rental contracts for two-bedroom units ranging from 900 to 1,000 sq ft. The average monthly rent stood at $2,625, or $2.73 psf, which translates into a gross rental yield of 2.9%, based on the listing price of $1,148 psf.
Historical transactions of similar-sized units at The Medley
Contract date | Area (sq ft) | Price ($) | Price ($ psf) |
|---|---|---|---|
24-Apr-15 | 893 | 1,100,000 | 1,231 |
2-Aug-13 | 958 | 1,180,000 | 1,232 |
28-Mar-12 | 883 | 995,000 | 1,127 |
Source: URA, The Edge Property
Rental contracts for 900 to 1,000 sq ft in 2015
Lease date | Monthly rent | |
|---|---|---|
($) | ($psf) | |
Jun-15 | 2,600 | 2.7 |
May-15 | 2,600 | 2.7 |
Feb-15 | 2,600 | 2.7 |
Jan-15 | 2,700 | 2.8 |
Source: URA, The Edge Property
Looking for value deals at The Medley and nearby projects? Click here
This article appeared in The Edge Property Pullout, Issue 710 (January 11, 2016) of The Edge Singapore.
Follow Us
Follow our channels to receive property news updates 24/7 round the clock.
EdgeProp Telegram
EdgeProp FacebookSubscribe to our newsletter
Search Articles