DEAL WATCH: Hijauan in CCR, EiS Residences in RCR, NV Residences in OCR
By The Edge Property
/ The Edge Property |
Core Central Region
A 1,657 sq ft penthouse at Hijauan is currently listed on TheEdgeProperty.com at $1,580 psf, or $2.62 million.
Hijauan is a 41-unit freehold apartment project on Cavenagh Road that was launched in 2011. Within three months, buyers picked up at least five shoebox units at an average price of $2,460 psf and nine other units at $2,337 psf. Prices fell to an average of $1,872 psf between 2H2013 and 2014 post-total debt servicing ratio.
This month, a 732 sq ft unit was sold at $1,913 psf. Based on caveats published by URA, penthouses in the development were transacted between $1,601 and $1,771 psf. All the transactions took place in 2H2013. The property is a short drive from Orchard Road.
Cavenagh Road is known for its lush greenery that borders the Istana. The facilities at Hijauan include a lap pool, Jacuzzis, tennis courts, jogging track and thematic gardens. Laurence Tan is the marketing agent for the property. He can be contacted at 9692 6106.
Rest of Central Region
In District 15, a one-bedroom-plus-study unit at EiS Residences on Haig Avenue will be put up for auction for the first time on July 21.
ERA Realty is the marketing agent for the property. According to ERA, the indicative price for the 506 sq ft unit is $650,000, or $1,285 psf, below what the seller paid in 2011. Completed in 2014, EiS Residences is a freehold apartment comprising just 16 units.
The latest transaction in the project was in November 2014 when a 388 sq ft unit was sold for $1,510 psf in a sub-sale, according to URA caveat records. Meanwhile, the last transaction for a 506 sq ft unit was in April 2011 when a thirdfloor unit fetched $1,362 psf.
The property is currently leased for a monthly rent of $1,850 until April 2017. This translates into a potential rental yield of 3.4%, based on the indicative price of $650,000.
Major developments in the area include the East Coast Park, 112 Katong, Parkway Parade, Canadian International School (Tanjong Katong Campus) and Chatsworth International School (East Campus). The auction will be held at ERA’s office at Mountbatten Square. For more information, call marketing agent Jay Chua at 8121 9403.
Outside Central Region
At NV Residences on Pasir Ris Grove, a 1,453 sq ft, four-bedroom unit that faces the pool is listed on TheEdgeProperty.com at $1.28 million, or $881 psf.
The unit is tenanted until March 2018 at $3,200 a month, which translates into a potential gross rental yield of 3.0%. The last transaction involving a similar-sized unit was in February when a third-floor unit changed hands for $929 psf. In December 2014, a 1,432 sq ft unit on a high floor fetched $1,067 psf.
NV Residences is a 642-unit project located within 500m from the Pasir Ris MRT station and White Sands Shopping Centre. Schools within a 1km radius include Elias Park Primary School, Coral Primary School and Park View Primary School. The project was completed in 2013. Alex Lim is the marketing agent for the property. He can be reached at 8661 9883.
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