DEAL WATCH: Parc Emily unit selling at $1,592 psf
Parc Emily is a freehold condominium on Mount Emily Road in prime District 9. Completed in 2008, the 295- unit development is adjacent to Mount Emily Park and within walking distance of the Wilkie Edge mall.
A 754-sq ft, one-bedroom ground floor unit was listed on TheEdgeProperty.com for $1.2 million ($1,592 psf). It is currently tenanted at a monthly rate of $3,000. Based on the latest asking price, the gross rental yield is 3%.
The owner, believed to be a Singaporean, is looking to upsize to a bigger unit, according to Derek Teng, a property agent with OrangeTee.com who is marketing the property.
A 754-sq ft, one-bedroom ground floor unit at Parc Emily was listed on TheEdgeProperty.com for $1.2 million ($1,592 psf)
Over the past three months, there were three rental contracts for units of 600 to 700 sq ft at Parc Emily, which were transacted at monthly rental rates of $2,900 to $3,200.
Last month saw two units change hands in Parc Emily. One was a 549 sq ft, one-bedroom unit on the second level that was sold for $940,000 ($1,712 psf); the other was a 1,001 sq ft, two-bedroom unit on the sixth floor that fetched $1.5 million ($1,498 psf).
“The property is in the city yet nicely tucked away in the charming arts and heritage area,” notes Teng.
This article appeared in The Edge Property Pullout, Issue 772 (Mar 27, 2017) of The Edge Singapore.
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