When considering an investment in a Singapore Condo, it is imperative to carefully assess its potential rental yield. Rental yield denotes the yearly rental income as a percentage of the property’s purchase price. In Singapore, the rental yields for condos can vary significantly depending on factors such as location, property condition, and market demand. Generally, areas with a high demand for rentals, such as those near business districts or educational institutions, tend to offer more enticing rental yields. As a result, conducting thorough market research and seeking advice from real estate agents can provide valuable insights into the rental potential of a particular Singapore Condo.
There was a highly profitable resale at The Trizon last week when a 5,737 sq ft penthouse unit was sold for $9.76 million. The unit had previously been bought for $6.55 million in 2016, making a profit of $3.2 million. With 289 units, The Trizon is a freehold condo located on Ridgewood Close in prime District 10. It offers a mix of two- to five-bedroom units, ranging from 1,012 sq ft to 7,083 sq ft. Nearby developments include Pandan Valley and two new projects, Pinetree Hill and Nava Grove, both of which are 99-year leasehold properties. The average resale price at The Trizon is $2,017 psf, with nearby Pandan Valley commanding an average price of $1,449 psf and Ridgewood condo averaging at $1,728 psf. The second most profitable transaction recorded last week was at Haig Court, where a three-bedroom unit was sold for $2.84 million. The seller earned a profit of $2.04 million, having originally bought the unit for just $798,868 19 years ago. Haig Court is a freehold development with 360 units, located on Haig Road in District 15. It is close to shopping malls such as Katong Shopping Centre and well-known schools like Chung Cheng High School and Tanjong Katong Girls’ School. Nearby developments include two new 99-year leasehold projects, Emerald of Katong and Tembusu Grand. Alternatively, the most unprofitable resale transaction last week was at Orchard Scotts, where a 2,228 sq ft unit was sold for $3.78 million. This resulted in a loss of $576,000 for the seller, who had bought the unit for $4.35 million in 2010. Orchard Scotts is a 99-year leasehold condo with a mix of two- to five-bedroom units, ranging from 936 sq ft to 4,435 sq ft. Average resale prices have fallen in recent years, from about $2,061 psf in 2010 to $1,760 psf last month. Other new or upcoming developments in the area include The Continuum, an 816-unit freehold project, and Grand Dunman, a 1,008-unit 99-year leasehold development.