Assessing the rental yield is a crucial aspect of investing in a condo. It refers to the annual rental income as a percentage of the property’s purchase price. In Singapore, condo rental yields can greatly differ based on several factors like location, property condition, and market demand. Generally, areas with high rental demand, such as those near business districts or educational institutions, tend to offer a higher rental yield. To gain a better understanding of the rental potential of a specific condo, it is vital to conduct comprehensive market research and seek advice from knowledgeable real estate agents. If you want to learn more about condos in Singapore, visit Condo for more information.
The popular mixed-use development known as Lucky Plaza, located on the bustling Orchard Road, currently has a portfolio of strata retail units up for sale. These units, ranging from 118 to 3,046 sq ft, are being marketed by Savills Singapore for a total of $52.6 million.The 14 retail units, which are spread across the basement and first two levels of the mall, boast a total strata area of 7,266 sq ft. One of the standout features included in this sale is a food court that spans seven adjoining units, totaling 3,046 sq ft and currently housing 11 stalls. The remaining units are currently tenanted to a diverse mix of businesses including a pub, retail shops, beauty service providers, and a maid agency.According to Sophia Lim, director of investment sales and capital markets at Savills Singapore, these retail units are expected to benefit greatly from the high foot traffic that Lucky Plaza receives on a daily basis. In particular, the basement food court is constantly bustling with crowds. The guide price for the food court is set at $25.43 million, while the entire portfolio is being offered at an asking price of $52.6 million.Individual strata retail units are also available for purchase, with prices starting at $1.1 million. Both foreigners and companies are eligible to make purchases, and no additional buyer’s or seller’s stamp duty will be imposed. Lim believes that prime strata freehold retail assets are highly coveted among investors due to their scarcity, and the Urban Redevelopment Authority’s (URA) prohibition on further strata subdivision of commercial properties along Orchard Road. She also anticipates that URA’s planned revitalisation of the Orchard precinct will lead to further rental growth and capital appreciation for Lucky Plaza.Strata retail units at Lucky Plaza are prime investments due to their desirable location and limited supply. Interested parties are encouraged to make their move before these units are snapped up.