When considering investing in a condominium, it is crucial to also analyze its potential rental yield. Rental yield refers to the annual rental income compared to the property’s purchase price, expressed as a percentage. In Singapore, condo rental yields can vary significantly, depending on factors such as location, property condition, and market demand. Generally, areas with high rental demand, such as those near business districts or educational institutions, tend to offer better rental yields. To gain a better understanding of a specific condo’s rental potential, it is essential to conduct thorough market research and seek advice from real estate agents. Additionally, keeping an eye on new condo launches can provide valuable insights into the rental market trends.
Singapore’s luxury property market continues to show resilience as K Suites, Thomson Three, and 19 Nassim set new price records during the first 10 days of November. According to data from EdgeProp, K Suites, a freehold boutique development, topped the list with a record-breaking psf price of $2,443. The development, located in District 15 along Lorong K Telok Kurau, saw the sale of an 872 sq ft three-bedroom unit for $2.13 million on November 8. This marks the first time the condo has crossed the $2,400 psf mark and beats its previous high of $2,196 psf set in May 2023. K Suites comprises a five-storey apartment block with 19 units and is a redevelopment of the former Ji Liang Gardens. The project has seen strong sales with eight units, or 42%, sold to date at an average price of $2,099 psf since launching in April 2023. Meanwhile, Thomson Three, a 99-year leasehold condo on Bright Hill Drive, also achieved a new high of $2,379 psf, with the sale of a 1,033 sq ft three-bedder on the 19th floor for $2.46 million on November 6. This is the first time the condo has crossed the $2,300 psf mark and surpasses its previous high of $2,204 psf, set in September 2023. Completed in 2016, Thomson Three has 435 units ranging from one- to four-bedrooms, and is within walking distance of the Upper Thomson MRT Station. Lastly, luxury condo 19 Nassim saw a new price record of $2,947 psf, achieved through the sale of a 646 sq ft, one-bedroom unit for $1.9 million on November 9. This is the first time the development has dropped below the $3,000 psf mark and beats its previous record low of $3,001 psf set in March 22. Completed in 2023, 19 Nassim is a 99-year leasehold condo on Nassim Hill in prime District 10. It has sold 61 of its 101 units since first launching for sale in 2020. Despite the record-breaking prices, the luxury property market is still seeing some deals with developer prices at a new low. However, the market remains resilient with strong sales and steady prices for quality projects in prime locations.