Square Foot Research Singapore

Shoebox Units (Rental Yield)

Can shoebox units in the mass market fetch good yields? Recently completed projects such as Caspian and Optima @ Tanah Merah seem to suggest that shoebox units do indeed get better rental returns than their larger counterparts.

Shoebox Units Rental Yield (Outside of Central)

Note: *Based on transactions and rental contracts in the last 6 months, excludes projects with no transactions in the last 6 months
Source: URA,
District Project Name Unit Size Average
monthly rents*
($)
No. of
rental
contracts*
Average
price*
($)
No. of
transactions*
Rental
yield
(%)
Project's
Rental yield
(%)
Spread
(%)
15 AURALIS 400 to 500 2,083 3 645,000 2 3.9 3.0 +0.9
19 BARTLEY RESIDENCES 400 to 500 1,975 25 692,500 2 3.4 3.3 +0.1
19 CARDIFF RESIDENCE 400 to 500 1,796 23 552,500 2 3.9 4.1 -0.2
19 CASA CAMBIO 400 to 500 1,834 25 656,500 2 3.4 3.2 +0.2
22 CASPIAN 400 to 500 2,167 3 630,000 1 4.1 3.4 +0.7
18 D'NEST 400 to 500 1,800 2 605,333 6 3.6 3.4 +0.2
27 EIGHT COURTYARDS 400 to 500 1,750 1 570,000 1 3.7 3.2 +0.5
23 FORESQUE RESIDENCES 400 to 500 1,683 9 610,000 1 3.3 2.9 +0.4
15 HERITAGE EAST 300 to 400 1,480 5 550,000 1 3.2 3.3 -0.1
15 HERITAGE EAST 400 to 500 1,580 5 590,000 2 3.2 3.3 -0.1
5 HUNDRED TREES 400 to 500 2,072 5 700,000 1 3.6 3.2 +0.4
19 ISUITES @ PALM 400 to 500 1,622 9 585,000 1 3.3 3.3 +0.0
19 KOVAN GRANDEUR 300 to 400 1,610 5 494,000 2 3.9 3.7 +0.2
19 LA FIESTA 400 to 500 1,834 23 642,500 2 3.4 2.9 +0.5
15 LA VIDA @ 130 400 to 500 1,777 11 615,000 2 3.5 3.2 +0.3
15 LAVERNE'S LOFT 400 to 500 1,650 6 582,000 1 3.4 3.4 +0.0
14 LEVENUE 400 to 500 1,758 6 638,000 1 3.3 3.4 -0.0
16 OPTIMA @ TANAH MERAH 400 to 500 2,013 4 676,000 1 3.6 3.2 +0.4
14 PALMERA EAST 400 to 500 1,817 3 612,333 3 3.6 3.0 +0.5
15 PARC BLEU 400 to 500 1,650 3 590,000 1 3.4 3.4 -0.0
19 PARC CENTROS 400 to 500 1,780 25 620,200 5 3.4 3.3 +0.1
15 PARC ELEGANCE 300 to 400 1,645 10 550,000 2 3.6 3.8 -0.2
17 PARC OLYMPIA 400 to 500 1,643 7 536,000 3 3.7 3.3 +0.4
25 PARC ROSEWOOD 400 to 500 1,526 43 519,500 8 3.5 3.4 +0.1
19 PARK RESIDENCES KOVAN 300 to 400 1,536 7 557,000 3 3.3 3.3 -0.0
19 PRIMO RESIDENCES 400 to 500 1,625 2 570,000 1 3.4 2.7 +0.7
14 QUBE SUITES 400 to 500 1,675 4 611,888 1 3.3 3.1 +0.2
14 RESIDENCES 88 400 to 500 1,600 1 568,000 1 3.4 3.3 +0.1
18 RIPPLE BAY 400 to 500 1,720 10 562,379 7 3.7 3.3 +0.4
28 RIVERBANK @ FERNVALE 400 to 500 1,683 10 620,000 1 3.3 3.5 -0.2
19 RIVERSOUND RESIDENCE 400 to 500 1,650 2 550,000 2 3.6 3.2 +0.4
17 RIZ HAVEN 400 to 500 1,600 1 552,000 1 3.5 2.9 +0.6
5 SEAHILL 400 to 500 2,367 6 680,000 1 4.2 3.4 +0.8
27 SKIES MILTONIA 400 to 500 1,669 8 567,000 1 3.5 3.1 +0.5
19 SPACE @ KOVAN 400 to 500 1,767 9 605,000 1 3.5 3.0 +0.5
15 SUITES @ EASTCOAST 300 to 400 1,621 12 543,250 4 3.6 3.4 +0.2
19 SUITES @ KOVAN 300 to 400 1,650 2 542,500 2 3.6 3.8 -0.2
19 SUITES @ PAYA LEBAR 300 to 400 1,583 6 580,000 1 3.3 3.4 -0.1
19 SUITES @ PAYA LEBAR 400 to 500 1,567 3 557,000 1 3.4 3.4 +0.0
13 SUITES@BRADDELL 300 to 400 1,650 1 550,000 1 3.6 3.2 +0.4
15 THE COTZ 300 to 400 1,625 4 500,000 1 3.9 3.8 +0.1
16 THE GLADES 400 to 500 1,996 27 784,307 15 3.1 3.2 -0.1
18 THE PALETTE 400 to 500 1,717 3 605,000 1 3.4 3.2 +0.2
19 THE PROMENADE@PELIKAT 400 to 500 1,615 13 585,000 1 3.3 2.9 +0.4
19 THE SCALA 400 to 500 2,170 23 730,000 1 3.6 3.3 +0.3
19 THE TEMBUSU 400 to 500 1,845 15 755,000 1 2.9 2.7 +0.2
19 THE VUE 400 to 500 1,721 7 569,833 6 3.6 3.5 +0.2
16 URBAN VISTA 400 to 500 1,854 35 632,000 1 3.5 3.0 +0.5
14 VACANZA @ EAST 400 to 500 1,700 2 658,750 2 3.1 2.9 +0.2
15 VIBES @ EAST COAST 300 to 400 1,644 9 535,000 1 3.7 3.5 +0.2
15 VIBES @ EAST COAST 400 to 500 1,706 8 601,500 2 3.4 3.5 -0.1
19 VIBES@UPPER SERANGOON 400 to 500 1,767 6 590,000 1 3.6 3.0 +0.6

Shoebox Units Rental Yield (Central Region)

Note: *Based on transactions and rental contracts in the last 6 months, excludes projects with no transactions in the last 6 months
Source: URA,
District Project Name Unit Size Average
monthly rents*
($)
No. of
rental
contracts*
Average
price*
($)
No. of
transactions*
Rental
yield
(%)
Project's
Rental yield
(%)
Spread
(%)
11 10 SHELFORD 400 to 500 2,017 15 750,000 1 3.2 2.9 +0.3
15 16 @ AMBER 400 to 500 1,900 5 710,000 1 3.2 3.0 +0.2
11 26 NEWTON 400 to 500 2,562 25 1,201,293 23 2.6 2.7 -0.1
11 6 DERBYSHIRE 400 to 500 2,375 2 1,171,677 4 2.4 2.3 +0.1
13 8@WOODLEIGH 300 to 400 1,950 7 570,000 1 4.1 3.4 +0.7
12 AIRSTREAM 300 to 400 1,663 4 510,000 1 3.9 3.4 +0.5
12 AIRSTREAM 400 to 500 1,831 8 655,000 1 3.4 3.4 -0.0
3 ALEXIS 300 to 400 2,269 24 682,429 7 4.0 3.7 +0.3
9 ATTITUDE AT KIM YAM 300 to 400 2,183 3 800,000 1 3.3 2.7 +0.5
13 BARTLEY RIDGE 400 to 500 1,879 25 695,000 2 3.2 2.9 +0.4
14 CASA AERATA 300 to 400 1,600 2 514,000 2 3.7 3.7 +0.0
14 CASA AERATA 400 to 500 1,900 5 589,986 3 3.9 3.7 +0.2
14 CENTRA HEIGHTS 400 to 500 1,923 21 665,667 3 3.5 3.4 +0.1
14 CENTRA LOFT 400 to 500 1,763 8 620,000 1 3.4 3.5 -0.1
14 CENTRA RESIDENCE 400 to 500 1,927 13 580,000 1 4.0 3.5 +0.5
14 CENTRA SUITES 400 to 500 1,833 12 583,250 4 3.8 3.8 +0.0
8 CITY LOFT 300 to 400 1,772 9 500,000 1 4.3 4.2 +0.1
15 CORALIS 400 to 500 2,060 13 860,000 1 2.9 2.9 -0.0
14 COSMO 400 to 500 2,000 2 610,000 1 3.9 3.6 +0.3
12 CRADELS 400 to 500 1,954 19 671,000 3 3.5 3.2 +0.3
14 D'WEAVE 400 to 500 1,875 6 607,000 1 3.7 3.4 +0.3
9 DEVONSHIRE RESIDENCES 400 to 500 2,930 10 1,100,088 1 3.2 3.1 +0.1
11 DUNEARN SUITES 400 to 500 2,014 7 780,000 1 3.1 3.2 -0.1
12 EIGHT RIVERSUITES 400 to 500 2,079 39 724,556 9 3.4 2.8 +0.6
9 ESPADA 300 to 400 2,561 33 881,422 9 3.5 3.4 +0.1
9 ESTILO 400 to 500 2,750 2 835,560 1 3.9 3.3 +0.7
15 FULCRUM 400 to 500 2,272 9 981,800 10 2.8 3.0 -0.2
14 GUILLEMARD EDGE 400 to 500 1,820 38 673,000 1 3.2 3.9 -0.7
15 HAIG 162 300 to 400 1,638 16 530,000 1 3.7 3.7 -0.0
15 HAIG 162 400 to 500 1,800 2 675,000 1 3.2 3.7 -0.5
14 IDYLLIC SUITES 400 to 500 1,745 11 540,000 1 3.9 3.8 +0.1
9 ILLUMINAIRE ON DEVONSHIRE 400 to 500 2,511 9 1,140,000 2 2.6 2.7 -0.1
15 IMPERIAL HEIGHTS 400 to 500 1,807 7 613,167 3 3.5 3.3 +0.3
14 LA BRISA 400 to 500 1,794 8 537,000 2 4.0 3.9 +0.1
14 LA FLEUR 400 to 500 1,682 19 550,088 1 3.7 3.8 -0.2
14 LE REGAL 300 to 400 1,568 11 550,000 1 3.4 3.6 -0.2
14 LE REGAL 400 to 500 1,540 5 478,000 1 3.9 3.6 +0.2
8 LE SOMME 400 to 500 1,900 2 680,000 1 3.4 3.3 +0.1
13 LEICESTER SUITES 400 to 500 1,986 11 730,000 1 3.3 3.3 -0.1
11 LINCOLN SUITES 400 to 500 2,678 9 1,000,000 1 3.2 3.0 +0.2
9 LIV ON WILKIE 400 to 500 2,840 5 978,000 2 3.5 3.0 +0.5
10 LOFT @ NATHAN 400 to 500 2,136 22 845,000 1 3.0 3.0 +0.1
10 LOFT @ STEVENS 400 to 500 2,200 3 810,000 1 3.3 3.5 -0.2
10 LOFT@HOLLAND 300 to 400 2,339 7 770,000 1 3.6 3.5 +0.1
9 MACKENZIE 138 400 to 500 2,150 4 740,000 1 3.5 3.2 +0.3
11 MEDGE 400 to 500 2,100 2 710,000 1 3.5 3.1 +0.5
14 MELOSA 400 to 500 1,750 6 560,250 2 3.7 3.5 +0.2
14 MILLAGE 400 to 500 1,888 8 680,000 2 3.3 3.0 +0.3
14 NESS 400 to 500 1,727 15 581,000 1 3.6 3.7 -0.1
9 NEWTON EDGE 400 to 500 2,375 4 770,000 1 3.7 2.9 +0.8
13 NIN RESIDENCE 400 to 500 2,050 8 760,000 1 3.2 3.0 +0.3
21 NOTTINGHILL SUITES 300 to 400 1,667 18 606,667 3 3.3 3.3 -0.0
12 OKIO 400 to 500 2,000 17 685,000 1 3.5 3.3 +0.2
12 ONE DUSUN RESIDENCES 400 to 500 2,079 21 745,000 1 3.3 3.2 +0.1
12 OPAL SUITES 400 to 500 1,675 3 550,000 1 3.7 3.4 +0.3
5 PARC IMPERIAL 300 to 400 2,001 21 675,667 3 3.6 3.6 -0.0
5 PARC IMPERIAL 400 to 500 2,033 20 661,250 2 3.7 3.6 +0.1
9 PARC SOPHIA 400 to 500 2,370 12 860,000 1 3.3 3.2 +0.1
1 PEOPLE'S PARK COMPLEX 400 to 500 1,708 24 440,000 2 4.7 4.7 -0.0
12 PRESTIGE HEIGHTS 300 to 400 1,756 17 540,000 3 3.9 3.8 +0.1
12 PRESTIGE HEIGHTS 400 to 500 1,855 11 608,500 2 3.7 3.8 -0.2
14 PRIMEDGE 400 to 500 1,775 4 612,000 1 3.5 3.3 +0.2
15 QUESTA @ DUNMAN 400 to 500 1,838 4 670,000 1 3.3 2.9 +0.4
12 REGENT RESIDENCES 400 to 500 1,886 11 663,000 2 3.4 2.7 +0.8
14 REZI 26 400 to 500 1,819 8 638,000 1 3.4 2.9 +0.5
9 ROBERTSON EDGE 400 to 500 2,386 7 844,000 2 3.4 3.5 -0.1
10 ROBIN SUITES 400 to 500 2,450 4 980,000 2 3.0 3.0 -0.0
10 RV EDGE 400 to 500 2,318 14 783,333 3 3.6 3.5 +0.1
9 RV POINT 400 to 500 2,463 4 865,000 1 3.4 3.6 -0.2
10 RV RESIDENCES 400 to 500 2,632 14 905,000 1 3.5 3.5 -0.0
10 RV SUITES 400 to 500 2,450 1 888,888 1 3.3 3.0 +0.3
14 SILVERSCAPE 400 to 500 1,731 8 545,000 1 3.8 3.6 +0.2
13 SKY GREEN 400 to 500 1,959 11 726,500 1 3.2 3.2 -0.0
4 SKYLINE RESIDENCES 400 to 500 2,810 5 956,500 2 3.5 3.2 +0.4
2 SKYSUITES@ANSON 300 to 400 2,772 49 921,986 36 3.6 3.6 -0.0
8 SOHO 188 400 to 500 2,110 5 650,000 1 3.9 3.9 +0.0
8 SOHO @ FARRER 400 to 500 2,175 2 650,000 1 4.0 4.7 -0.7
11 SOLEIL @ SINARAN 400 to 500 2,800 4 938,000 1 3.6 3.5 +0.1
2 SPOTTISWOODE 18 300 to 400 2,228 52 801,963 3 3.3 3.3 -0.0
2 SPOTTISWOODE SUITES 400 to 500 2,624 23 1,052,577 14 3.0 3.1 -0.1
15 STRAITS RESIDENCES 400 to 500 1,650 2 630,000 1 3.1 3.0 +0.1
14 SUITES 28 400 to 500 1,588 4 530,000 1 3.6 3.0 +0.6
21 SUITES AT BUKIT TIMAH 300 to 400 1,734 7 595,000 1 3.5 3.1 +0.4
15 SUITES@ KATONG 400 to 500 1,667 3 638,000 1 3.1 3.8 -0.7
14 SUITES@CHANGI 400 to 500 1,725 8 530,000 1 3.9 3.4 +0.5
11 THE AXIS 300 to 400 1,900 5 590,000 1 3.9 3.9 -0.0
1 THE CLIFT 400 to 500 2,979 14 971,667 6 3.7 3.7 +0.0
21 THE HILLFORD 300 to 400 1,712 29 492,500 2 4.2 4.3 -0.2
12 THE INTERWEAVE 300 to 400 1,812 9 573,333 3 3.8 3.3 +0.5
12 THE INTERWEAVE 400 to 500 1,942 12 620,000 1 3.8 3.3 +0.4
15 THE LINE @ TANJONG RHU 400 to 500 2,129 7 1,024,800 5 2.5 2.3 +0.2
8 THE URBANITE 400 to 500 1,950 4 700,000 2 3.3 3.4 -0.1
14 THE WATER EDGE 300 to 400 1,813 4 537,500 2 4.0 3.7 +0.4
14 THE WATER EDGE 400 to 500 1,869 8 622,100 3 3.6 3.7 -0.1
14 TREASURES @ G20 400 to 500 1,594 9 510,000 2 3.8 3.5 +0.3
14 TREASURES@G6 400 to 500 1,663 4 542,000 1 3.7 3.3 +0.3
8 TYRWHITT 139 300 to 400 1,600 1 560,000 1 3.4 3.0 +0.4
8 TYRWHITT 139 400 to 500 2,000 1 675,000 2 3.6 3.0 +0.5
14 VIENTO 400 to 500 1,771 7 571,250 4 3.7 3.7 +0.0
5 VIVA VISTA 300 to 400 1,925 27 573,333 3 4.0 4.0 +0.1
5 VIVA VISTA 400 to 500 2,040 5 650,000 1 3.8 4.0 -0.2
14 WATERBANK AT DAKOTA 400 to 500 2,366 22 743,750 4 3.8 3.4 +0.4
11 ZEDGE 400 to 500 1,781 8 770,000 1 2.8 2.9 -0.1

Disclaimer

This report provides information as reference resource for your personal consumption only. It is not intended to be and does not constitute financial advice, investment advice or any other advice. This report has been generated without regard to the individual financial circumstances, needs or objectives of persons who view it. Users should not rely on any of the information herein as authoritative or substitute for the exercise of their own skill and judgment in making any investment or other decision. By the use of our services, you agree that any and all use of this report which you make, is solely at your own risk and without any recourse whatsoever to Square Foot Research Pte. Ltd., its related and affiliate companies and/or their employees. Square Foot Research Pte. Ltd. makes reasonable effort to use reliable and comprehensive information to generate this report, but we make no representation that it is accurate or complete.

CONTACT US

For enquiries, drop us an email at This email address is being protected from spambots. You need JavaScript enabled to view it.

For support, contact us at This email address is being protected from spambots. You need JavaScript enabled to view it.