Freehold three-bedroom condo selling below $900,000
By Metta Lee
/ The Edge Property |
A three-bedroom high-floor unit at Escada View on Lengkong Empat has been listed on TheEdgeProperty.com at $899,000, or $773 psf. The Edge Fair Value, a valuation tool on The EdgeProperty.com, puts the indicative value of the property at $886 psf.
A three-bedroom high-floor unit at Escada View, which was completed in 1997, has been listed at $773 psf
Click here for more listings at Escada View and nearby projects
The development’s latest transaction for a similar-sized property was in February 2014, when a 1,163-sq ft unit on the sixth floor was sold for $900,000, or $774 psf. This price level was also seen in September 2011, when a 1,173 sq ft unit on the fifth floor was transacted at $910,000, or $776.
Escada View is an 80-unit freehold condominium that was completed in 1997. Amenities within 500m of the development include the Block 630 Bedok Reservoir Market and Kembangan Plaza. Schools within a 1km radius of the property include Telok Kurau Primary School and East Coast Primary School.
In 2H2015, there were two rental contracts for 1,100 to 1,200 sq ft units at Escada. Monthly rents for these contracts averaged $3,075, or $2.65 psf. Based on the listing price of $899,000, the average rent translates into a potential gross rental yield of 4.1%.
For more information, call marketing agent Mel Ong at 8483 3145.
Recent transactions at Escada View
Contract date | Floor area (sf) | Price ($) | Price ($ psf) |
|---|---|---|---|
October 20, 2014 | 1,399 | 1,150,000 | 822 |
April 15, 2014 | 840 | 800,000 | 953 |
February 5, 2014 | 1,163 | 900,000 | 774 |
Source: URA, The Edge Property
Recent rental contracts for 1,100 to 1,200 sq ft units at Escada View
Lease commencement date | Monthly Rent | |
|---|---|---|
($) | () | |
November 2015 | 2,900 | 2.50 |
August 2015 | 3,250 | 2.80 |
Source: URA, The Edge Property
This article appeared in The Edge Property Pullout, Issue 729 (May 23, 2016) of The Edge Singapore.
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