Three-bedder at Ritz @ Farrer going for $1.2 mil

SINGAPORE (EDGEPROP) - A freehold, three-bedroom unit at Ritz @ Farrer in Rochor, District 8, is on the market for $1.2 million ($1,506 psf). The property was first put up for a bank auction in February, according to Edmund Tie, which is marketing the unit. As property auctions still have not been allowed to continue in Phase Two of Singapore’s reopening, the unit is currently being marketed under private treaty.

Spanning 797 sq ft, the unit is on the fourth storey of Ritz @ Farrer, a development comprising 18 residential units and two shops. The unit on the market is a cosy, corner unit, says Joy Tan, head of auction and sales at Edmund Tie. The unit is also affordable, she adds. Given that the home is in a well-kept condition, buyers would not need to spend much on renovations, says Tan.

The master bedroom is en suite, while one of the common rooms features a furniture deck or loft. All three bedrooms can also fit in a queen-sized bed, says Tan.

According to caveats lodged with URA, the property last transacted for $1.136 million ($1,426 psf) in June 2016.

A similar-sized unit at Ritz @ Farrer can fetch monthly rents of between $3,000 and $3,500 a month, based on past data by URA.

Ritz @ Farrer is near eateries such as Tekka Centre and Berseh Food Centre, which are approximately a seven-minute walk away. Residents also have easy access to City Square Mall and Mustafa Centre, which are within a nine-minute walk. Farrer Park MRT Station on the North East Line is six minutes away by foot.

The development is also within proximity to schools such as Farrer Park Primary School, Stamford Primary School and St Margaret’s Primary School.

The last transaction at the development was for a 764 sq ft unit that changed hands for $1.2 million ($1,570 psf) in August 2018. Prior to that, a 592 sq ft unit transacted for $960,000 ($1,622 psf) in July 2018.