DEAL WATCH: Riverside two-bedroom apartment selling below $1,300 psf
At The Quayside on Robertson Quay, a 1,130 sq ft unit is listed on TheEdgeProperty.com at $1,283 psf, or $1.45 million. The unit overlooks the pool and the Singapore River, according to the information provided by the agent.
Monthly rents for 1,100 to 1,200 sq ft units at The Quayside averaged $4,800 this year
According to URA caveat records, the last time a comparable unit changed hands at the development was in March 2011, when a 1,130 sq ft unit on the 10th floor fetched $1.63 million, or $1,440 psf. The current asking price is also below the 2008 price level, when a 1,130 sq ft unit four floors above was sold at $1.52 million, or $1,345 psf.
The average rent for 1,100 to 1,200 sq ft units at The Quayside is $4,800 a month, based on leases that commenced this year. This translates into a potential gross rental yield of 4%, based on the property’s asking price, thus presenting an opportunity for yield-seeking investors.
Completed in 1998, The Quayside is a 79-unit development fronted by the Singapore River. It is within walking distance of Robertson Walk, a waterfront dining and hangout destination. Schools within a 1km radius include River Valley Primary School. For more information, call marketing agent Low Wai Thong at 9669 9998.
Recent transactions at The Quayside
Contract date | Area (sq ft) | Price ($) | Price ($ psf) |
|---|---|---|---|
June 21, 2016 | 1,507 | 1,208 | 1,820,000 |
April 6, 2016 | 1,346 | 1,275 | 1,715,000 |
February 5, 2016 | 1,346 | 1,263 | 1,700,000 |
September 8, 2015 | 1,313 | 1,477 | 1,939,800 |
July 15, 2015 | 1,711 | 1,169 | 2,000,000 |
Source: URA, The Edge Property
Recent rental contracts for 1,100 to 1,200 sq ft units at The Quayside
Lease start date | Monthly rent | |
|---|---|---|
($) | () | |
May-16 | 4,500 | 3.90 |
Feb-16 | 5,100 | 4.40 |
Jan-16 | 4,800 | 4.20 |
Source: URA, The Edge Property
This article appeared in the The Edge Property pullout of Issue 739 (August 1, 2016) of The Edge Singapore.
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