Two-bedroom loft unit at Icon for sale at $2.1 mil
Prices at Icon have actually climbed because of raised new release as well as transaction event in the place. Based on a statistics of resell caveats by EdgeProp Singapore, the common cost has actually enhanced from $1,668 psf in September 2020 to $1,788 psf previous month.
Icon at Tanjong Pagar has a 40-storey along with 46-storey condo block with 646 units. It was the very first inner-city project when it was launched in 2003. The plan has a retail podium, Icon Village, with occupants including CS Fresh grocery store, Two Men Bagel House and Alice Boulangerie.
In a similar way, rents 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 rental fees at Icon remained at $7.25 psf pm. Based upon latest rental caveats, a lot of property managers at Icon see rental yields of roughly 4.6%.
The unit will be sold with an occurring occupancy concluding in December. The south-facing unit has a lower level with a dwelling and dining room and a double-volume roof. This level also contains a bed room, common bath room, kitchen area and also residential shelter. The upper ground includes the en suite master bedroom.
Nearby apartments consist of Skysuites@Anson and also Altez on Enggor Street and Lumiere on Mistri Road. The residential catchment is going to grow when upcoming plans like 351-unit One Bernam on Bernam Street, the 246-unit Newport Residences on Anson Road and even the 215-unit Skywater Properties on Shenton Way are finished.
A1,066 sq ft unit at Icon on Gopeng Street will be placed on the block at Knight Frank’s upcoming auction on Aug 15. The two-bedroom loft space unit has a guide price of $2.1 million, that figures out to $1,970 psf on the floor surface area.
Latest launches have increased housing real estate prices in Tanjong Pagar. TMW Maxwell on Maxwell Road is the most recent property development, with units expected to sell off from $3,188 psf. One Bernam, introduced in May 2021, has units averaging $2,528 psf, with some top-floor units selling for up to $3,340 psf. One Bernam is currently around 54% sold.
Upcoming plans in the pipeline are expected to ride on this force and also even more increase rates, particularly as they are positioned as high-end, upmarket developments. These consist of Newport Residences, Skywater Residences, also the 748-unit Marina View Residences on Marina View.
The 99-year leasehold Icon was finished in 2007. It is well-located in the CBD moreover is easily close to 2 MRT terminals: Tanjong Pagar on the East-West Line as well as the upcoming Prince Edward Terminal on the Circle Line, set up for completion in 2026.
There have been 14 resale transactions at Icon this year, varying 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.
