DEAL WATCH: Two-bedroom unit at The Sail @ Marina Bay for sale at $1,666 psf

A two-bedroom, 893 sq ft unit at The Sail @ Marina Bay has been put up for sale on EdgeProp.sg at $1.49 million ($1,666 psf). “The unit is currently tenanted until March 2018,” says Joshua Koh from ERA Realty, who is marketing the property. In July 2017, there were 12 rental transactions for units from 800 to 900 sq ft, with an average monthly rent of $4,588. This translates to a potential gross rental yield of 3.7% for the unit, based on the asking price.

“The unit is very well-maintained and in move-in condition,” adds Koh. The owner is a Singaporean who is selling as he is looking to purchase a landed property soon.

The Sail @ Marina Bay is located close to the Downtown MRT station and within walking distance of the Raffles Place station. The 99-year leasehold development was completed in 2008 and comprises 1,111 apartments.

The Sail @ Marina Bay is located close to the Downtown MRT station and within walking distance of the Raffles Place station

Units at The Sail @ Marina Bay were sold at an average of $959 psf in 2004, the year it was launched. Prices peaked in 2011, at an average of $2,387 psf. In September 2011, a 1,033 sq ft unit on the 56th floor was sold for $3.62 million ($3,499 psf), the highest price psf achieved at The Sail @ Marina Bay, based on URA caveat data.

So far this year, there have been 32 transactions at an average price of $1,888 psf. The most recent transaction was on Aug 1, when a 689 sq ft unit changed hands for $1.52 million ($2,206 psf). The previous owner bought the unit from the developer for $676,350 ($982 psf) in December 2004.

This article appeared in The Edge Property Pullout, Issue 793 (Aug 21, 2017) of The Edge Singapore

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