According to Square Foot Research, out of 50 projects with shoebox apartments completed since 2012, 38 are located in the central region and these saw a higher rental take-up rate compared to those in OCR. They also rented for as much as $3,400 a month or about $6.72 psf (based on a unit of 506 sq ft in size).
There is also an interesting observation that short term leases of 6 months are on the rise. 6 months is the shortest lease period allowed by the URA for private residential properties.
There is also an interesting observation that short term leases of 6 months are on the rise. 6 months is the shortest lease period allowed by the URA for private residential properties.
Personally, rental income of 3400 per month is a good source of passive income but how long can it sustain? What if interest rate goes up? Does the rental income cover the monthly installment? It would be good news if it still does.
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