Queenstown is now one of the best estates in Singapore where condominium rental properties are flourishing. The OrangeTee Research said that these non-landed properties are also considered to be one of the high-yielding units in the country as well.
In their report, they also mentioned all the developments that are part of the top six. The total rental revenue of these projects reached up to 4 percent. Included in the Big 6, in no particular order, are the Dover Parkview, One-North Residences, Vista Park, Queens, Heritage View, and the Parc Imperial.
Among others, Parc Imperial is the only project that stood less than a decade compared to the rest. Nevertheless, all of them had great consistency when it comes to generating the highest rental yields in Queenstown. According to the same research, the main reason why Queenstown is getting so much demand for rental properties is because of its highly commended location. Most of the major education and employment centers are within reach in Queenstown. Some of the most notable establishments in the area are the One North and National University of Singapore to name a few. Other than that the Central Business District and the Orchard Road is just a couple of miles away from Queenstown.
Ever wondered how they made it to the top 6? Aside from the accessibility to MRT stations, here are some details of the top-yielding rental properties located in Queenstown.
- Vista Park – completed in 1985, this 99-year tenure project charges up to $3.44 per square foot. Sales price is about $886 psf and has an estimated total rental yield of 4.7%.
- Parc Imperial – Haw Par Villa is the closest station to Parc Imperial. Though it was only completed last 2010, it’s still a great competition as it charges $6.11 psf with a sales price of $1,727 psf.
- Heritage View – in 2000, Heritage View was completed and started its 99-year tenure. With the average rent of $3.89 psf, the estimated rental yield for the property is at 4%.
- One North Residences – completed in the same year as the latter, One North charges up to $4.69 psf for rent. It has the same tenure and gross yield as the Heritage view but the sales price for this one is at $1,396 psf.
- Dover Parkview – another one of the oldest, Dover Parkview started entertaining residents as early as 1997. It has an average rent of $3.56 psf and a gross yield of 4% as well.
- Queens – in 2002, this development was completed. Right now, the average rent at the Queens is at $4.18 psf with a sales price of $1,255 psf.
If you would like to view some of the residential developments around Queenstown, please click on Alex Residences, Highline Residences and Spottiswoode Suites. If you would like to read more on upcoming launches, some of them include High Park Residences, Sol Acres (EC), Adana at Thomson, North Park Residences and Botanique at Bartley.