DEAL WATCH: Cyan unit selling at a tad below value
By Tan Chee Yuen
/ The Edge Property |
A 1,313 sq ft mid-floor unit in Cyan, a freehold condominium in prime district 10, is looking for buyer at an indicative price of $2.75 million or $2,094 psf. The price is listed as negotiable on TheEdgeProperty.com.
In December 2014, a larger unit on 15th floor spanning 1,528 sq ft were sold at $2,087 psf. Separately, a 1,464 sq ft unit on 18th floor found buyer at $2,109 psf in June last year.
Historical transactions at Cyan
Contract date | Area (sq ft) | Floor* | Price ($) | Price($ psf) |
|---|---|---|---|---|
12-Nov-15 | 1,658 | High | 3,103,000 | 1,872 |
5-Oct-15 | 1,012 | Low | 2,050,000 | 2,026 |
15-Jul-15 | 1,001 | Low | 2,010,000 | 2,008 |
18-Dec-14 | 1,528 | Mid | 3,190,000 | 2,087 |
24-Sep-14 | 1,475 | Mid | 3,060,000 | 2,075 |
15-Sep-14 | 1,442 | Mid | 3,000,000 | 2,080 |
11-Aug-14 | 1,453 | Low | 3,000,000 | 2,064 |
11-Jul-14 | 657 | Low | 1,288,000 | 1,962 |
16-Jun-14 | 1,453 | Low | 2,950,000 | 2,030 |
12-Jun-14 | 1,464 | High | 3,088,000 | 2,109 |
*Low floors: L1 to 7, Mid floors: L8 to 15, High floors: L16 & above
Source: URA, The Edge Property
The subject property’s asking price of $2,094 psf is a slightly higher than 2011 levels which averaged $2,051 psf for similar-sized units located between 13th and 17th floor.
Cyan is a 278-unit freehold condominium on Keng Chin Road, developed by Far East Organization and completed in 2014. Schools within 1 km of the property include Singapore Chinese Girls’ Primary School, and Anglo-Chinese School (Primary).
Cyan is a 278-unit freehold condo on Keng Chin Road, developed by Far East Organization and completed in 2014
There were nine rental contracts involving two-bedroom units between 1,000 and 1,200 sq ft in Cyan in 2H2015. Rents for these units averaged $4,944 per month. Based on the listing price of $2.75 million, the average rent translates to a potential gross rental yield of 2.2%.
Recent rental transactions of 1,000 to 1,200 sq ft two-bedroom units at Cyan
Lease date | Monthly rent | |
|---|---|---|
($) | ($ psf) | |
Oct-15 | 5,000 | 4.3 |
Oct-15 | 4,500 | 4.3 |
Sep-15 | 5,300 | 4.6 |
Aug-15 | 5,600 | 5.3 |
Aug-15 | 4,700 | 4.5 |
Aug-15 | 5,200 | 5.0 |
Source: URA, The Edge Property
Looking for more value deals at Cyan and nearby projects? Click here to start browsing.
This article appeared in The Edge Property Pullout, Issue 705 (November 30, 2015) of The Edge Singapore.
Follow Us
Follow our channels to receive property news updates 24/7 round the clock.
EdgeProp Telegram
EdgeProp FacebookSubscribe to our newsletter
Top Articles
Search Articles