DEAL WATCH: Pasir Ris condo selling at below $800 psf

By Metta Lee / The Edge Property | March 19, 2016 8:00 AM SGT
A 1,259 sq ft, three-bedroom unit at Livia has been listed on TheEdgeProperty.com at $1 million, or $794 psf. The Edge Fair Value, a valuation tool on TheEdgeProperty.com, puts the indicative value of the property at slightly below $900 psf.
The most recent transaction at Livia was in January this year when a 1,324 sq ft unit on a low floor changed hands for $1.15 million, or$869 psf. In December, a 1,259 sq ft mid-floor was transacted at $1.07 million, or $850 psf. The 724-unit condominium was launched in the second half of 2008 at an average price of $650 psf.
Livia is a 99-year-leasehold condominium located at Pasir Ris Grove. It was completed in 2011. Amenities in the area include White Sands Mall, Tampines Eco Trail and Pasir Ris Town Park. There are a number of schools within a 1km radius of the property, namely Coral Primary School, Elias Park Primary School, Meridian Primary School and Park View Primary School.
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Five 1,200 to 1,300 sq ft units at Livia were let out in December 2015 and January 2016 at an average rent of $2,840, or $2.28 psf, per month. Based on the listing price of $1 million, the average rent translates into a potential gross rental yield of 3.4%.
Historical transactions of units in the 4Q2015 and January 2016 at Livia
Contract date
Floor
Area (sq ft)
Price ($)
Price ($ psf)
15-Jan-16
Low
1,324
1,150,000
869
4-Dec-15
Mid
1,259
1,070,000
850
1-Dec-15
Low
1,324
1,245,000
940
20-Nov-15
Low
1,927
1,570,000
815
26-Oct-15
Mid
883
838,000
949
20-Oct-15
Low
1,410
1,220,000
865
7-Oct-15
Mid
1,539
1,409,000
915

*Low floors: L1 to 7, Mid floors: L8 to 15, High floors: L16 & above

Source: URA, The Edge Property

Recent rental contracts for 1,200 to 1,300 sq ft units at Livia
Lease date
Monthly Rent
($)
($psf)
Jan-16
2,900
2.30
Jan-16
2,700
2.20
Jan-16
2,700
2.20
Dec-15
3,100
2.50
Dec-15
2,800
2.20

Source: URA, The Edge Property

Click here for more listings at Livia and nearby projects.
Editor: To real estate agents – if you have secured an interesting listing recently, we would love to hear from you! Contact us at propertyeditor.sg@bizedge.com
This article appeared in The Edge Property Pullout, Issue 720 (March 21, 2016) of The Edge Singapore.
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