BELOW $1 MILLION: One-bedder at Icon

By Tan Chee Yuen
/ The Edge Property |
A 560 sq ft unit at Icon is looking for buyers at $999,999 ($1,786 psf) on TheEdgeProperty.com.
The 646-unit Icon was developed by Far East Organization and completed in 2007. The 99-year leasehold condominium is within a short walk from the Tanjong Pagar MRT station.
The commercial podium of the project, Icon Village, houses a mix of F&B outlets, retail and convenience stores. Icon is also a stone’s throw from 100 AM mall and the new mall at Tanjong Pagar Centre which will have several new-to-market F&B brands, including Japan Rail Café, SBCD Tofu House and The Little Island.
The latest transaction saw a 570 sq ft unit changed hands for $988,000 ($1,732 psf) in January this year. In November 2016, a 560 sq ft unit fetched $1 million ($1,787 psf). URA data shows that there were six rental contracts for 500 to 600 sq ft units at Icon. Monthly rent averaged $3,267, which translates to a 3.9% gross rental yield based on the asking price.
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Recent transactions at Icon
Contract date
Area (sq ft)
Price ($)
Price ($ psf)
16-Jan-17
570
988,000
1,732
19-Dec-16
581
1,021,000
1,757
16-Dec-16
1,249
1,650,000
1,321
5-Dec-16
581
938,000
1,614
17-Nov-16
560
1,000,000
1,787
10-Nov-16
969
1,750,000
1,806

Source: URA, The Edge Property

Recent rental contracts for 500 to 600 sq ft units at Icon
Lease date
Monthly rent
($)
($psf)
Dec-16
3,200
5.80
Dec-16
3,300
6.00
Dec-16
3,000
5.50
Dec-16
3,700
6.70
Dec-16
3,200
5.80
Dec-16
3,200
5.80

Source: URA, The Edge Property


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