A 1,119 sq ft, three-bedroom unit in Sea Esta on Pasir Ris Link has been listed on TheEdgeProperty.com at $999,999, or $894 psf. The Edge Fair Value, a valuation tool on The EdgeProperty.com, puts the indicative value of the property at $1,081 psf.
The last transaction for a similar-sized unit was in January, when a 1,119 sq ft unit on the 11th floor was sold for $1.3 million, or $1,161 psf. In December 2015, another 1,119 sq ft unit on the ground floor changed hands for $1.08 million, or $965 psf.
The 376-unit Sea Esta is a short walk from Pasir Ris Park by the seaside
Sea Esta, a 376-unit condominium in Pasir Ris, was completed in 2015. The project is a short walk from Pasir Ris Park by the seaside. Other developments within 500m of Sea Esta include E! Hub @ Downtown East and Aranda Country Club. Among the schools within a 1km radius are Pasir Ris Primary School, Loyang Primary School and Casuarina Primary School.
There were 12 rental contracts for 1,100- to 1,200-sq-ft units at Sea Esta in the past six months. Monthly rents averaged $2,725, or $2.35 psf. Based on the asking price of $999,999, the average rent translates into a potential gross rental yield of 3.3%.
For more information, call marketing agent William Choo at 9636 1793.
Recent transactions at Sea Esta
Recent rental contracts for 1,100 to 1,200 sq ft units at Sea Esta
This article appeared in The Edge Property Pullout, Issue 736 (July 11, 2016) of The Edge Singapore.