DEAL WATCH: New condo unit in Pasir Ris selling below $900 psf
By Lee Cixin Metta
/ The Edge Property |
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 $999,999, the average rent translates into a potential gross rental yield of 3.3%.
For more information, call marketing agent William Choo at 9636 1793.
Recent transactions at Sea Esta
Contract date | Floor Level | Area (sq ft) | Price ($) | Price ($ psf) |
|---|---|---|---|---|
April 25, 2016 | high | 1,701 | 1,580,000 | 929 |
February 12, 2016 | mid | 646 | 720,000 | 1,115 |
January 21, 2016 | high | 1,119 | 1,300,000 | 1,161 |
January 4, 2016 | mid | 517 | 588,000 | 1,138 |
December 28, 2015 | high | 1,206 | 1,308,000 | 1,085 |
December 18, 2015 | low | 1,119 | 1,080,000 | 965 |
December 4, 2015 | high | 1,216 | 1,600,000 | 1,315 |
Source: URA, The Edge Property
Note: Floor 1 to 4 (Low), Floor 5 to 8 (mid), Floor 9 to 13 (high)
Recent rental contracts for 1,100 to 1,200 sq ft units at Sea Esta
Lease date | Monthly Rent | |
|---|---|---|
($) | () | |
May 2016 | 2,700 | 2.30 |
March 2016 | 2,700 | 2.30 |
March 2016 | 2,500 | 2.20 |
February 2016 | 2,700 | 2.30 |
February 2016 | 2,800 | 2.40 |
February 2016 | 2,600 | 2.30 |
February 2016 | 2,700 | 2.30 |
February 2016 | 2,800 | 2.40 |
February 2016 | 2,800 | 2.40 |
Source: URA, The Edge Property
This article appeared in The Edge Property Pullout, Issue 736 (July 11, 2016) of The Edge Singapore.
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