Two-bedroom loft unit at Icon for sale at $2.1 mil
Upcoming projects in the pipeline are anticipated to ride on this momentum and even more increase prices, especially as they are placed as luxury, upmarket projects. These include Newport Residences, Skywater Residences, plus the 748-unit Marina View Residences on Marina View.
Surrounding apartments include Skysuites@Anson and also Altez on Enggor Street and Lumiere on Mistri Road. The non commercial catchment will develop when upcoming projects like 351-unit One Bernam on Bernam Road, the 246-unit Newport Residences on Anson Road and even the 215-unit Skywater Apartments on Shenton Way are completed.
A1,066 sq ft unit at Icon on Gopeng Street will certainly be placed on the block at Knight Frank’s approaching public auction on Aug 15. The two-bedroom loft unit has an overview rate of $2.1 million, that calculates to $1,970 psf on the floor area.
Prices at Icon have climbed due to enhanced new launches and purchase event in the location. Based on a statistics of resale caveats by EdgeProp Singapore, the average rate has actually boosted from $1,668 psf in September 2020 to $1,788 psf previous month.
In a similar way, leas have actually increased from a median rent of $4.82 psf monthly in 3Q2020 to a high of $7.29 psf pm in 1Q2023. Last quarter, median leas at Icon remained at $7.25 psf pm. Based upon more recent rental caveats, many proprietors at Icon see leasing yields of approximately 4.6%.
The unit will be marketed with an existing tenancy concluding in December. The south-facing unit has a bottom level with a dwelling and dining area and also a double-volume roof. This ground also includes a room, standard bathroom, cooking area as well as property sanctuary. The top level contains the en suite main bedroom.
The Hill @ One North Kingsford Development Pte Ltd
The 99-year leasehold Icon was finalized in 2007. It is well-located in the CBD and is conveniently near to 2 MRT terminals: Tanjong Pagar on the East-West Line and also the upcoming Prince Edward Station on the Circle Line, planned for completion in 2026.
The latest launches have increased non commercial real estate prices in Tanjong Pagar. TMW Maxwell on Maxwell Road is the latest development, with units assumed to sell off from $3,188 psf. One Bernam, launched in May 2021, has units averaging $2,528 psf, with some top-floor units yielding as much as $3,340 psf. One Bernam is currently around 54% sold off.
There have certainly been 14 resale transactions at Icon this year, extending from $1.04 million ($1,819 psf) for a 570 sq ft unit that was offered on Feb 9 to $1.9 million ($1,535 psf) for a 1,238 sq ft unit that was sold off on April 14.
Icon at Tanjong Pagar has a 40-storey plus 46-storey apartment block with 646 units. It was the very first inner-city project when it was released in 2003. The project has a retail podium, Icon Village, with renters which include CS Fresh grocery store, Two Men Bagel House and Alice Boulangerie.
