DEAL WATCH: Freehold District 9 condo selling at below $1,400 psf
By Tan Chee Yuen
/ The Edge Property |
More prime district units surfaced as bargain deals. A 1,206 sq ft, three-bedroom unit at Parc Emily has been listed on TheEdgeProperty.com at $1.68 million, or $1,393 psf. The Edge Fair Value, a valuation tool on The EdgeProperty.com, puts the indicative value of the property at slightly above $1,500 psf. Property investors might also be interested in this unit, which is understood to be tenanted at around $4,100 a month until 2017.
The property’s latest transaction was in November 2015, when another 1,206 sq ft unit on a low floor was sold for $1.97 million, or $1,634psf. This represents a 20% premium above the subject property’s asking price of $1,351 psf. The last time prices for similar-sized units dipped below the $1,400 psf mark was in May 2010.
The 1,206 sq ft unit at Parc Emily is understood to be tenanted at around $4,100 a month.
Click here for more listings at Parc Emily and nearby projects.
Parc Emily is a freehold condominium in prime district 9 located on Mount Emily Road. Completed in 2008, the 295-unit development is a short walk from the Wilkie Edge shopping mall and within 400 m of the Rochor MRT station on the Downtown Line. Schools within a1km radius of the property include Anglo-Chinese School (Junior), St Margaret’s Primary School, Stamford Primary School and LASALLE College of the Arts.
There were four rental contracts involving 1,200 to 1,300 sq ft three-bedroom units in Parc Emily in 4Q2015. Monthly rents for these contracts ranged from $4,700 to $6,400.
Historical transactions of 1,206 sq ft units at Parc Emily
Contract date | Price ($) | Price ($ psf) |
|---|---|---|
27-Nov-15 | 1,970,000 | 1,634 |
8-Apr-13 | 2,330,000 | 1,933 |
20-Jun-12 | 1,870,000 | 1,551 |
24-May-11 | 1,950,000 | 1,617 |
22-Jul-10 | 1,870,000 | 1,551 |
15-Apr-10 | 1,908,000 | 1,583 |
Source: URA, The Edge Property
Recent rental contracts for 1,200 to 1,300 sq ft three-bedroom units at Parc Emily
Lease date | Monthly rent | |
|---|---|---|
($) | ($psf) | |
Nov-15 | 4,900 | 3.90 |
Oct-15 | 5,400 | 4.30 |
Oct-15 | 6,400 | 5.10 |
Oct-15 | 4,700 | 3.80 |
Source: URA, The Edge Property
This article appeared in The Edge Property Pullout, Issue 718 (March 7, 2016) of The Edge Singapore.
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