DEAL WATCH: Reflections at Keppel Bay unit selling at 2007 prices
By Metta Lee
/ The Edge Property |
A 1,733 sq ft, three-bedroom unit at Reflections at Keppel Bay has been listed on TheEdgeProperty. com at $2.5 million, or $1,443 psf. The high-floor unit overlooks the golf course.
The latest transaction in the project was on May 23, when a 2,519 sq ft unit on the 21st floor was sold at $2,462 psf. Meanwhile, the last transaction for a 1,733 sq ft unit was in March 2013 when a ground-floor unit changed hands at $2,412 psf.
Rents for 1,600 to 1,900 sq ft units in the project averaged $7,552 per month in April
The subject property’s asking price of $1,443 psf is similar to the developer’s sale price in 2007. In that year, a 1,733 sq ft unit on a high floor found a buyer at $2.53 million, or $1,459 psf.
Reflections at Keppel Bay is a 99-year leasehold landmark condominium designed by Daniel Libeskind. Completed in 2011, the 1,129-unit development is located within 500m of Telok Blangah MRT station on the Circle Line.
There were seven rental contracts for 1,600 to 1,900 sq ft three-bedroom units at Reflections at Keppel Bay in April. Rents for these contracts averaged $7,552 per month.
Based on the listing price of $2.5 million, the average rent translates into a potential gross rental yield of 3.6%.
For more information, call marketing agent Albert Tan at 9674 2180.
Recent transactions at Reflections at Keppel Bay
Contract date | Unit size | Unit Height | Price ($) | Price ($ psf) |
|---|---|---|---|---|
May 23, 2016 | 2,519 | 19 to 21 | 6,200,000 | 2,462 |
April 26, 2016 | 1,119 | 7 to 9 | 1,600,000 | 1,429 |
April 7, 2016 | 2,659 | 7 to 9 | 4,700,000 | 1,768 |
March 28, 2016 | 872 | 10 to 12 | 1,480,000 | 1,697 |
March 18, 2016 | 1,841 | 4 to 6 | 3,000,000 | 1,630 |
February 29, 2016 | 1,367 | 4 to 6 | 2,000,000 | 1,463 |
February 17, 2016 | 1,055 | 1 to 3 | 1,588,000 | 1,505 |
January 4, 2016 | 1,550 | 7 to 9 | 2,500,000 | 1,613 |
Source: URA, The Edge Property
Recent rental contracts for 1,600 to 1,900 sq ft units at Reflections at Keppel Bay
Lease commencement date | Unit size | Monthly Rent | |
|---|---|---|---|
($) | () | ||
April 2016 | 1,600 to 1,700 | 7,800 | 4.50 |
April 2016 | 1,800 to 1,900 | 6,589 | 4.00 |
April 2016 | 1,600 to 1,700 | 7,400 | 4.00 |
April 2016 | 1,600 to 1,700 | 7,700 | 4.70 |
April 2016 | 1,600 to 1,700 | 8,271 | 5.00 |
April 2016 | 1,600 to 1,700 | 8,300 | 5.00 |
April 2016 | 1,700 to 1,800 | 7,200 | 4.40 |
Source: URA, The Edge Property
This article appeared in The Edge Property Pullout, Issue 732 (June 13, 2016) of The Edge Singapore.
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