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DEAL WATCH: Freehold two-bedroom unit in Bedok selling at $1,052 psf

Metta Lee

/ The Edge Property

June 22, 2016 5:07 PM SGT

propertyeditor@edgeprop.sg

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A 1,130 sq ft, two-bedroom unit at East Coast Residences has been listed on TheEdgeProperty.com at $1,188,888, or $1,052 psf. The Edge Fair Value, a valuation tool on The EdgeProperty.com, puts the indicative value of the property at $1,142 psf.

The latest transaction in the project was in April, when a 1,001 sq ft unit was sold at $1,229 psf. Meanwhile, a 1,130 sq ft unit, which is the same size as the subject property, was last transacted in March 2011. The unit on the second floor fetched $1.3 million, or $1,150 psf.

East Coast Residences is a low-rise freehold apartment project on Upper East Coast Road, 500m from East Coast Park. The 59-unit development was completed in 2011. Schools in the vicinity include Temasek Primary School and Temasek Junior College.

There were five rental contracts for 1,000 to 1,200 sq ft units at East Coast Residences in 2015 and this year. Monthly rents for these contracts averaged $2,930, or $2.76 psf. For more information, call marketing agent Celine Kong at 9006 2525.

Recent transactions at East Coast Residences

Contract date	Unit size	Price ($)	Price ($ psf)
April 20, 2016	1,001	1,230,000	1,229
December 15, 2015	1,023	1,300,000	1,271
November 23, 2015	1,023	1,195,000	1,169

Source: URA, The Edge Property

Recent rental contracts for 1,000 to 1,200 sq ft units at East Coast Residences

Lease commencement date	Unit size	Monthly Rent
		($)	()
March 2016	1,000 to 1,100	2,700	2.60
November 2015	1,100 to 1,200	2,800	2.40
June 2015	1,000 to 1,100	3,000	2.90
February 2015	1,000 to 1,100	3,000	2.90
February 2015	1,000 to 1,100	3,150	3.00

Source: URA, The Edge Property

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