When contemplating an investment in a condominium, it is crucial to assess the potential rental yield as well. Rental yield refers to the annual rental income as a percentage of the property’s purchase price. In Singapore, condos can have varying rental yields depending on factors such as location, property condition, and market demand. Generally, areas with high rental demand, such as those near business districts or educational institutions, offer better rental yields. To gain insight into the rental potential of a specific condo, it is advisable to conduct thorough market research and consult with real estate agents. Additionally, keeping an eye on new condo launches can be beneficial in identifying potential opportunities.
The highly sought-after 8M Residences has once again topped the list of private condos that achieved a new psf-price peak during the week of Feb 1 to 7. According to recent data, the freehold development achieved a record-breaking price of $2,384 psf when a two-bedroom unit on the 15th floor was sold for $1.54 million on Feb 3. This marks the first time that a unit at 8M Residences has been sold for more than $2,300 psf.In comparison, the previous peak at the development was set in April 2023 when a similar two-bedroom unit on the 11th floor was sold for $1.46 million at a rate of $2,261 psf.8M Residences also saw another transaction during this period that surpassed the record set in 2023. On Feb 3, a one-bedroom unit on the 11th floor was sold for $1.2 million, marking a new high of $2,275 psf.In terms of absolute price, the most expensive unit sold at 8M Residences is a 1,841 sq ft, three-bedroom unit that fetched $2.85 million ($1,548 psf) in October 2012.Resale data collected by EdgeProp Singapore shows that resale prices at 8M Residences have been consistently rising over the past few years. According to a 12-month rolling average, the average price of units at the condo increased by 7.3% from $2,028 psf in February 2022 to $2,177 in February 2025.8M Residences, completed in 2017, is a 20-storey residential tower that boasts 68 units ranging from one to three bedrooms. It also has four penthouses varying in size from 1,184 to 1,841 sq ft.8M Residences is located close to several prestigious schools such as EtonHouse International Research Pre-School, Katong Swimming Complex and Katong Park MRT Station.Meanwhile, the sale of a 1,076 sq ft, three-bedroom unit at Kovan Jewel, a freehold condo on Kovan Road in District 19, took second place on the list of private condos that achieved a new psf-price high. This unit was sold by the developer for $2.41 million on Feb 7, setting a new high of $2,236 psf. This record surpasses the previous peak set in August 2023 when a similar three-bedroom unit was sold for $2.4 million at a rate of $2,228 psf.Kovan Jewel, completed last year, features 34 units with one to three bedrooms measuring 624 to 1,345 sq ft. There are also four-bedroom penthouses ranging from 1,237 to 2,153 sq ft.As of Feb 18, 17 units (50%) at Kovan Jewel have been sold at an average price of $2,111 psf, based on caveats lodged. Nine units were sold last year at an average price of $2,111 psf. The unit sold on Feb 7 is the first transaction this year.Finally, boutique condo Oleanas Residence takes third place on the list of private condos that achieved a new psf-price peak. On Feb 3, a 1,141 sq ft, three-bedroom unit on the sixth floor sold for $2.52 million, marking a new record of $2,207 psf at the condo.Previously, the highest transacted price at Oleanas Residence was $2,157 psf, from the sale of a 1,238 sq ft, three-bedroom unit for $2.67 million in August 2022. The most expensive resale unit at the condo, however, is a 1,636 sq ft, three-bedroom unit that sold for $3.3 million ($2,017 psf) in December 2022.Oleanas Residence, completed in 1999, is a freehold condo located on Kim Yam Road in District 9. In the last three years, the condo has recorded only four resale transactions, with prices ranging from $2.4 million ($2,103 psf) for a 1,141 sq ft, three-bedroom unit in November 2023 to $3.3 million ($2,129 psf) for a 1,550 sq ft, four-bedroom unit in April 2024.The condo is situated close to two MRT Stations: Great World MRT Station on the Thomson-East Coast Line and Fort Canning MRT Station on the Downtown Line. It is also within the 1km radius of educational institutes such as River Valley Primary School and Outram Secondary School.