DEAL WATCH: Riverside two-bedroom apartment selling below $1,300 psf

By Metta Lee / The Edge Property | July 29, 2016 9:24 AM SGT
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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 $4,800 a month, based on leases that commenced this year. This translates into a potential gross rental yield of 4%, based on the property’s asking price, thus presenting an opportunity for yield-seeking investors.
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Completed in 1998, The Quayside is a 79-unit development fronted by the Singapore River. It is within walking distance of Robertson Walk, a waterfront dining and hangout destination. Schools within a 1km radius include River Valley Primary School. For more information, call marketing agent Low Wai Thong at 9669 9998.
Recent transactions at The Quayside
Contract date
Area (sq ft)
Price ($)
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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