Studio apartment at High Park Residences among cheapest in town

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Possibly the cheapest in town, studio apartments at High Park Residences by CEL Development led consortium may offer an attractive deal for potential investors. The indicative price of its smallest unit, a 36 sqm studio apartment, costs $398K or $1,027 psf. This is 23% below the lowest transacted studio apartment of similar size sold this year at $1,339 psf. The price advantage provides investors a good head start in their asking rents. To achieve a 3% net rental yield, the monthly rent should be at least $995. Monthly rent of similar units in District 19 this year averaged $2,000, ranging from $1,750 to $2,500.
Table 1: Top 10 Cheapest 300 to 400 sqft studio apartments in 2015
Source: URA, The Edge Property
Table 2: Rental performance of 300 to 400 sqft studio apartments in District 19 in 2015

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