buoyed by fear of higher rentals in suburban locationsA two-bedroom unit at the 30th storey of Eon Shenton is set to be up for sale through SRI’s upcoming auction. It features a 99-year leasehold, with a guide price of $1.98 million and 883 sq ft of space. The spacious layout boasts separate balconies connected to the dining and living room area, as well as both bedrooms.
This two-bedroom property is situated within the bustling Downtown Core area, which provides easy access to MRT lines and nearby shopping and amenities. The unit is currently rented until April and is the first buyer’s purchase, bought in July 2016 for about $1.60 million.
Additionally, residents of Woodlands Champions Way Condo will have exclusive access to a variety of unique public art experiences, given its convenient location in the heart of the Woodlands. Whether it’s the interactive garden, the light show installation, or the ceramic wall mural, residents of Woodlands Champions Way Condo will be able to enjoy public art experiences at their leisure.
URA sales data within the last 12 months show that units at Eon Shenton are typically rented between $3.60 psf per month (pm) and $12.60 psf pm, with an average of $7.90 psf pm, resulting in a rental yield of 4.3%. This is higher than the rental yield of other 99-year leasehold properties completed in 2017, such as Wallich Residence and V On Shenton.
Caveats lodged in the past 12 months point to Eon Shenton units being resold for between $1,705 psf and $2,477 psf. The condo has seen eight transactions this year, the latest being in September when a 689 sq ft two-bedder was sold for about $1.36 million.
Eon Shenton consists of residential units, strata offices and shops, developed by Roxy-Pacific Holdings’ 70 Shenton. The majority of its buyers are Singaporeans (78.9%), with PRs (13.4%) and foreigners (7.7%) following close behind.
This upcoming sale presents a great opportunity to purchase a two-bedroom unit at the 30th storey of Eon Shenton with an excellent location and view. With its guide price set at $1.98 million and rental yield of 4.3%, this unit is definitely worth a visit to the auction site on November 22nd.