Profitable neighbours of unprofitable condominiums
The Sail @ Marina Bay has five neighbours with 2,199 systems within a 500m radius. The nearby neighbor is Marina Bay Suites. The Sail @ Marina Bay is the largest with 1,111 systems, followed by Marina One Residences.
Per our earlier article regarding unlucrative condos, the time of acquisition contributed to the losses suffered by some proprietors of Urban Vista. Eco has lots of one-bedroom devices that are better for lessees, yet only 11% of the residents in Bedok are renters as well as 87% are owner-occupiers.
At the time of writing, Eco and Urban Vista has more unprofitable than successful deals over the past 12 months. Interestingly, their nearby neighbour, Grandeur Park Residences, bucked the fad with 5 times more successful transactions than unlucrative ones.
Uncompleted The Reef at King’s Dock has the highest average rate of $2,498 psf, while Harbour View Towers (TOP in 1994) has the lowest …