DEAL WATCH: Vista Residences unit going for $1.75 mil

A 1,195 sq ft, three-bedroom unit at Vista Residences has been put up for sale at $1.75 million ($1,464 psf) on The EdgeProperty.com. The unit is up for sale because the owner is upgrading to a landed property soon, says Johnny Chua, an agent with PropNex Realty who is marketing the property. The unit is well maintained and has a pool view, adds Chua.

The 280-unit Vista Residences was launched in 2009 and completed in 2013. The freehold project comprises two towers of 35 and 36 storeys, and is located on Jalan Datoh, off Balestier Road.

When the project was launched in mid-2009, units were sold at an average price of $1,100 psf. At the peak of the market, a 2,271 sq ft, four-bedroom penthouse with a roof terrace was sold for $4.23 million ($1,860 psf), according to a caveat lodged in October 2013.

The 280-unit Vista Residences was launched in 2009 and completed in 2013

The highest price psf paid for a three-bedroom unit at Vista Residences was in April 2014, when a 1,216 sq ft unit on the 29th floor changed hands in a sub-sale for $1.9 million ($1,562 psf).

Meanwhile, the latest transaction of a three-bedroom unit was done in April this year, when a 1,216 sq ft unit on the 27th floor changed hands for $1.79 million ($1,472 psf), according to a caveat lodged with URA Realis.

At the peak of the market, a 1,195 sq ft unit fetched $1,527 psf in December 2013. The last transaction of a 1,195 sq ft, three-bedroom unit at Vista Residences was in 2014, when it fetched $1.8 million, or $1,507 psf, in a sub-sale.

PropNex’s Chua reckons the asking price of $1,464 psf for the 1,195 sq ft, three-bedroom unit that is up for sale is in line with the latest transaction prices, which are ranging from $1,450 psf for a low-floor unit to $1,472 psf for a higher-floor unit.

Three-bedroom units measuring 1,100 to 1,200 sq ft at Vista Residences have been leased at average monthly rents of $4,014, with yields of 2.8%. Therefore, such units are more likely to appeal to owner-occupiers, says Chua. The fact that it is freehold is also an attraction, he adds.

For more information, call marketing agent Johnny Chua at 8268 6817.

This article appeared in The Edge Property Pullout, Issue 751 (Oct 24, 2016) of The Edge Singapore.