When contemplating an investment in a condominium, it is essential to also evaluate the potential rental yield. Rental yield refers to the annual rental income as a percentage of the property’s purchase price. In Singapore, rental yields for condos can vary significantly based on factors such as location, property condition, and market demand. It is generally observed that areas with high rental demand, such as those near business districts or educational institutions, offer better rental yields. To make an informed decision, conducting comprehensive market research and seeking advice from real estate agents can provide valuable insights into the rental potential of a particular condo. Additionally, checking out New Condo Launches can also help in evaluating potential rental yields.
Brilliance Capital, the sole marketing agent for a residential development site at Jalan Naung, has announced that the land is now up for sale via expression of interest (EOI) with an asking price of $8.38 million.
According to the URA Master Plan 2019, the 999-year leasehold land parcel, which is located off Upper Serangoon Road in District 19, is zoned for residential use within a three-storey mixed-landed area. The total area of the land is 5,408 sq ft and the asking price equates to $1,550 psf on the land area.
Potential buyers will have the opportunity to develop the site into a detached house, a pair of semi-detached houses, or a strata mixed-landed development, subject to approvals from the relevant authorities, as stated by Brilliance Capital.
The site boasts an excellent location within walking distance of Hougang MRT Station and Hougang Central Bus Interchange. Popular lifestyle hubs such as NEX, Hougang Mall and Heartland Mall are also within a 10-minute drive.
In addition, the site is surrounded by reputable schools within a 1km radius, including CHIJ Our Lady of the Nativity, Holy Innocents’ Primary School, Montfort Junior School and Punggol Primary School, making it an ideal location for families.
Mr. Sammi Lim, the founder and executive director of Brilliance Capital, believes that the vacant plot of land will attract strong interest from a range of developers, including boutique firms, larger setups, aspiring developers, and end-users looking to build their dream home. He also highlights the land’s rarity in the market, particularly due to its various options and permutations for development, catering to different needs and preferences, including multi-generation development.
The EOI exercise for the land parcel will close on March 6 at 3pm. As the vacant plot of land is owned by a single seller, the acquisition process is expected to be smooth and hassle-free for potential buyers. Interested parties are urged to submit their bids before the deadline.