DEAL WATCH: Two-bedroom unit at Palm Gardens listed at 2011 prices
By Metta Lee
/ The Edge Property |
A 958 sq ft, two-bedroom unit at Palm Gardens in Choa Chu Kang has been listed on TheEdgeProperty.com at $728,500, or $760 psf. The price is on a par with 2011 prices. The Edge Fair Value, a valuation tool on The EdgeProperty.com, puts the indicative value of the property around $800 psf.
The property’s latest transaction was in March 2016, when another 958 sq ft unit on the 12th floor was sold for $728,500, or $793 psf. Palm Gardens is a 99-year leasehold condominium. Completed in 2000, the 694-unit development is within walking distance of the Keat Hong LRT station and Keat Hong Shopping Centre.
A 958 sq ft unit at Palm Gardens in Chao Chu Kang is being put up for sale at $728.500.
Click here for more listings at Palm Gardens and nearby projects
Schools within a 1km radius of the property include Tech Whye Primary, South View Primary and Choa Chu Kang Primary. There were five rental contracts for 900 to 1,000 sq ft units at Palm Gardens over the past six months.
Monthly rents for these contracts ave raged $2,130, or $2.20 psf. Based on the listing price of $728,500, the average rent translates into a potential gross rental yield of 3.5%.
For more information, call marketing agent Farrand Hey at 9856 7025.
Historical transactions for 959 sq ft units at Palm Gardens
Contract date | Price ($) | Price ($ psf) |
|---|---|---|
March 2, 2016 | 760,000 | 793 |
July 27, 2015 | 770,000 | 804 |
June 19, 2015 | 780,000 | 814 |
May 7, 2015 | 770,000 | 804 |
Source: URA, The Edge Property
Recent rental contracts for 900 to 1,000 sq ft units at Palm Gardens
Lease date | Monthly Rent | |
|---|---|---|
($) | () | |
January 2016 | 2,100 | 2.20 |
January 2016 | 2,100 | 2.20 |
January 2016 | 2,000 | 2.10 |
November 2015 | 2,350 | 2.50 |
November 2015 | 2,100 | 2.20 |
Source: URA, The Edge Property
Editor: To real estate agents – if you have secured an interesting listing recently, we would love to hear from you! Contact us at propertyeditor.sg@bizedge.com
This article appeared in The Edge Property Pullout, Issue 724 (April 18, 2016) of The Edge Singapore.
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