When considering investing in a condo, one must also carefully assess the potential rental yield. Rental yield refers to the annual 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, are likely to offer better rental yields. To gain a better understanding of the rental potential of a particular condo, conducting thorough market research and seeking advice from real estate agents can be highly beneficial. Additionally, staying updated on new condo launches on Dear Sky Steward can provide valuable insights into the rental market.
(EDGEPROP) – A portfolio comprising a freehold conservation shophouse on 61 Rowell Road and two strata retail units at the City Gate mixed-use development on Beach Road has been listed for sale at a price of $10 million. This sale is being exclusively marketed by directors of PropNex Shophouse Elites Wilkie Tay and Sunny L, and the properties are available for purchase through an expression of interest (EOI) exercise. The shophouse and two retail units can be purchased together or separately, with the shophouse having a guide price of $7 million and the commercial spaces having a guide price of $3 million. Both properties are highly sought after and provide excellent investment opportunities for potential buyers. The freehold shophouse is located on 61 Rowell Road within the Desker Road conservation area in Rochor, District 8. This two-storey shophouse also has a mezzanine and has a total floor area of 2,200 square feet, subject to a site survey. With the guide price of $7 million, this translates to $3,181 per square foot, which is a fair value for a freehold shophouse in a prime location. The shophouse has completed additions and alterations, including the construction of an open terrace on the second floor. It is currently vacant and is expected to receive its temporary occupation permit in a few weeks’ time. This highly accessible property is within walking distance of both the Jalan Besar MRT Station on the Downtown Line and the Farrer Park MRT Station on the North-East Line. It is also freehold and can be purchased by foreigners and corporate entities without additional buyer’s stamp duty. The two strata retail units are located within the City Gate mixed-use development, which has 311 residential units and 188 retail units. The two units available for purchase measure 474 square feet and 441 square feet, respectively. With a guide price of $3 million, this works out to $3,278 per square foot on the combined strata area. The two retail units are currently leased to various businesses such as a restaurant and a hair salon, and they will be sold with their current tenants in place. The two units can be purchased together or separately. The EOI exercise for these properties closes on Sept 30 at 3pm, so potential buyers should act fast. Interested buyers can also check out the latest listings for other properties at City Gate.