8 highest yielding private properties in Central Singapore

By EdgeProp Singapore

/ EdgeProp |

August 22, 2017 8:30 AM SGT

Getting your rental yield right goes a long way. Today’s average rental yield for condominiums and apartments is the lowest in a decade, at about 3.2%. Low interest rates, subdued job market and large supply of housing are possible reasons.

In our analysis, we have identified eight private residential properties with the highest rental yields in the high-end condo segment comprising districts 9, 10, 11, Downtown Core and Sentosa. Only properties with at least five sales and five rental transactions over the last 12 months were considered in our analysis.

1) Lumiere

Property type: Apartment

Rental yield: 5.0%

Average rent PSF: $6.0

Tenure: 99 years from 2006

District/ Planning Area: D2 - Downtown Core

Located at Mistri Road, the 45-storey Lumiere is a three-minute walk to Tanjong Pagar MRT station. It was completed in 2010 and has 168 units.

It is a stone’s throw away from International Plaza and Icon Village, and less than 10 minutes’ walk to Tanjong Pagar Centre, Singapore’s tallest skyscraper. The integrated development stands at 290m, and houses six levels of retail space offering a mix of unique F&B brands and retail options.

Lumiere comes with a multi-purpose hall, a game room, a gymnasium room and BBQ pits. Connectivity-wise, it is accessible via Anson Road and Ayer Rajah Expressway (AYE) and has recorded a total of 167 rental transactions in the past 12 months.

2) Icon

Property type: Apartment

Rental yield: 3.8%

Average rent PSF: $5.3

Tenure: 99 years from 2002

District/ Planning Area: D2 - Downtown Core

Completed in 2007, Icon is located at Gopeng Street and comprises 646 units. It is a stone’s throw away from Tanjong Pagar MRT and the vibrant 100 AM mall, which houses a myriad of retail and restaurant options.

It is also near Icon Village, located about four minutes’ walk away. At Icon Village, residents can indulge in specialty restaurants, beauty aesthetics, hair spa and an array of lifestyle and convenience services.

At the apartment, residents can access facilities like the aerobic pool, jacuzzi, lap pool, BBQ pits and tennis courts. It recorded a total of 349 rental transactions in the past 12 months.

3) The Boutiq

Property type: Apartment

Rental yield: 3.8%

Average rent PSF: $5.0

Tenure: Freehold

District/ Planning Area: D9 - River Valley

The Boutiq at Killiney road is a freehold development located just a five-minute walk away from Somerset MRT station. Completed in 2014, this residential development is made up of two blocks, standing 10-storey high and comprises 130 units.

It is within walking distance to various malls along the Orchard Road shopping belt, such as Orchard Central, Singapore’s first and only vertical mall, as well as 313@Somerset. Both malls are located about six minutes’ walk away.

At the apartment, residents have access to amenities like a swimming pool and an aqua gym. There was a total of 78 rental transactions at the apartment over the last 12 months.

4) Skysuites@Anson

Property type: Apartment

Rental yield: 3.8%

Average rent PSF: $7.2

Tenure: 99 years from 2008

District/ Planning Area: D2 - Downtown Core

Image source: Allgreen Properties

This 71-storey apartment is located at 8 Enggor Street less than 0.3km away from Tanjong Pagar MRT station. Skysuites@Anson was completed in 2014 and comes with 360 units. It comes with a number of facilities, which include a swimming pool, a lap pool, jacuzzi, tennis courts, gym, BBQ pits, playground and a dining lounge.

Situated amid a vast array of eateries and restaurants around the neighbourhood, residents are spoilt for choice when it comes to dining options. For instance, a sandwich fix at Two Men Bagel House or a fresh cuppa at Soma Coffee are both just a stone’s throw away.

There was a total of 167 rental transactions recorded at the apartment over the last 12 months.

5) 8@Mount Sophia

Property type: Condominium

Rental yield: 3.8%

Average rent PSF: $4.1

Tenure: 103 years from 2002

District/ Planning Area: D9 - Rochor

8@Mount Sophia is just a two-minute walk away from Dhoby Gaut MRT station and is located near shopping malls such as Plaza Singapura and The Cathay.

Completed in 2007, the condo has 313 units and recorded a total of 117 rental transactions over the past 12 months.

8@Mount Sophia is situated near the heart of Singapore’s education, arts and cultural district with an eclectic mix of conservation houses, boutiques and educational institutions like St Margaret’s Primary School, the School of the Arts (SOTA), LaSalle College of the Arts, Nanyang Fine Arts Academy (NAFA) and Singapore Management University (SMU).

6) Hillcrest Arcadia

Property type: Condominium

Rental yield: 3.7%

Average rent PSF: $2.5

Tenure: 99 years from 1975

District/ Planning Area: D11 - Bukit Timah

Hillcrest Arcadia was completed in 1980 and is located amid the quiet and serene vicinity of Arcadia Road along Adam Road.

Located at the Hillcrest area (Off Dunearn Road), it is close to prestigious schools like Raffles Girls' Primary School, National Junior College, Hwa Chong Institution, and Nanyang Girls' High School.

The full-facilities condo comes with its own mini-mart, a post-office, a laundry shop and a restaurant. The nearest Cold Storage is about six-minutes’ walk away. In the last 12 months, the 272-unit development recorded 53 rental transactions.

7) The Clift

Property type: Apartment

Rental yield: 3.7%

Average rent PSF: $6.1

Tenure: 99 years from 2004

District/ Planning Area: D1 - Downtown Core

The Clift apartment is located at McCallum street and is right next to the food paradise that is Amoy Street Food Centre, famed for delicious local offerings like wanton mee and fishball noodles. There are also plenty of food offerings down the adjacent Amoy Street, where you will find everything from a sumptuous bowl of pho, sashimi or a classic cheeseburger.

Both Telok Ayer MRT and Tanjong Pagar MRT stations are located just about four minutes’ walk away from the apartment. Completed in 2011, The Clift has 312 units and recorded a total of 176 rental transactions in the past 12 months.

8) Orchard Scotts

Property type: Condominium

Rental yield: 3.7%

Average rent PSF: $4.4

Tenure: 99 years from 2001

District/ Planning Area: D9 - Newton

Situated on Cairnhill Road and Anthony Road, Orchard Scotts is just four minutes’ walk from Newton MRT station and a 10-minute walk to the bustling shopping district of Orchard Road.

Its modernistic design is the brainchild of Arquitectonica, the world-renowned firm responsible for urban architectural landmarks such as The Westin New York at Times Square. Comprising three towers, Orchard Scotts provides six-star luxury trappings helmed by a team of hospitality professionals and offer a 24-hour concierge service.

The development was completed in 2008 and has 387 units. In the last 12 months, it recorded a total of 55 rental transactions. In 2030, major development of Health City Novena will take place in vicinity, whereby public and volunteer health-care facilities, as well as the Lee Kong Chian School of Medicine will be physically linked. These developments will be integrated with surrounding shopping malls and transport hubs, providing greater accessibility and amenity options for residents of Orchard Scotts.

Note: *Figures are based on transactions in the last 12 months, excluding projects with fewer than five sales transactions and fewer than five rental transactions. To compute rental yield, we took an average of the rental values divided by transacted prices over one year.

Source: URA, Edgeprop.sg

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