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
(%)
19 BARTLEY RESIDENCES 400 to 500 1,958 25 695,000 2 3.4 3.0 +0.4
19 BOTANIQUE AT BARTLEY 400 to 500 2,065 20 755,833 6 3.3 3.1 +0.2
19 CARDIFF RESIDENCE 400 to 500 1,738 26 584,000 3 3.6 3.1 +0.4
19 CASA CAMBIO 400 to 500 1,850 31 602,000 1 3.7 3.1 +0.6
18 COCO PALMS 400 to 500 1,802 22 645,500 2 3.4 3.2 +0.1
18 D'NEST 400 to 500 1,774 19 606,000 2 3.5 3.5 -0.0
16 EAST VILLAGE 400 to 500 1,793 3 590,000 1 3.6 2.7 +0.9
16 EASTWOOD REGENCY 300 to 400 1,550 4 525,000 1 3.5 3.5 +0.0
16 EASTWOOD REGENCY 400 to 500 1,623 11 580,000 2 3.4 3.5 -0.2
15 ESPIRA SUITES 400 to 500 1,790 10 700,000 1 3.1 3.7 -0.6
23 FORESQUE RESIDENCES 400 to 500 1,750 6 630,000 1 3.3 2.7 +0.6
17 HEDGES PARK CONDOMINIUM 400 to 500 1,632 11 556,667 3 3.5 3.3 +0.3
28 HIGH PARK RESIDENCES 400 to 500 1,655 20 560,000 1 3.5 3.3 +0.3
22 J GATEWAY 400 to 500 2,422 57 875,500 4 3.3 3.1 +0.2
19 JEWEL @ BUANGKOK 400 to 500 1,860 15 680,000 1 3.3 2.9 +0.4
19 KINGSFORD WATERBAY 400 to 500 1,717 45 636,250 4 3.2 3.1 +0.1
19 LA FIESTA 400 to 500 1,835 21 628,000 1 3.5 2.9 +0.6
15 LAVERNE'S LOFT 300 to 400 1,650 1 576,000 1 3.4 3.8 -0.4
14 LEVENUE 400 to 500 1,930 5 635,000 1 3.6 3.4 +0.2
19 PARC CENTROS 400 to 500 1,779 14 637,000 2 3.4 3.1 +0.3
15 PARC ELEGANCE 400 to 500 1,647 17 591,400 2 3.3 3.2 +0.2
25 PARC ROSEWOOD 400 to 500 1,525 58 521,800 10 3.5 3.3 +0.2
15 PRESTIGE LOFT 300 to 400 1,550 1 540,000 1 3.4 3.2 +0.3
19 PRESTO@UPPER SERANGOON 400 to 500 1,731 7 630,000 2 3.3 3.3 -0.1
19 PRIMO RESIDENCES 400 to 500 1,675 2 590,000 1 3.4 2.8 +0.6
18 RIPPLE BAY 400 to 500 1,663 15 577,667 3 3.5 3.2 +0.2
28 RIVERBANK @ FERNVALE 400 to 500 1,750 6 588,000 1 3.6 3.0 +0.5
19 RIVERSOUND RESIDENCE 400 to 500 1,679 7 568,000 1 3.5 3.2 +0.4
15 SUITES @ EASTCOAST 300 to 400 1,606 8 540,000 1 3.6 3.1 +0.5
19 SUITES @ PAYA LEBAR 300 to 400 1,591 8 562,500 2 3.4 3.3 +0.1
19 SUITES @ PAYA LEBAR 400 to 500 1,620 5 590,000 1 3.3 3.3 +0.0
13 SUITES@BRADDELL 400 to 500 1,650 3 582,000 1 3.4 3.0 +0.4
15 THE COTZ 400 to 500 1,639 9 580,000 1 3.4 3.6 -0.2
16 THE GLADES 400 to 500 2,031 34 800,000 1 3.0 2.8 +0.2
17 THE INFLORA 400 to 500 1,619 19 521,600 5 3.7 3.2 +0.5
22 THE LAKEFRONT RESIDENCES 400 to 500 2,160 10 730,000 1 3.6 3.3 +0.2
15 THE LUCENT 400 to 500 1,750 1 680,000 1 3.1 2.5 +0.6
19 THE LUXURIE 400 to 500 1,804 7 650,000 1 3.3 3.1 +0.2
27 THE NAUTICAL 400 to 500 1,589 9 536,500 2 3.6 3.3 +0.2
20 THE PANORAMA 400 to 500 1,806 21 700,000 2 3.1 2.7 +0.4
18 THE SANTORINI 400 to 500 1,756 5 575,000 1 3.7 3.1 +0.5
19 THE SCALA 400 to 500 2,186 21 744,000 2 3.5 3.1 +0.5
16 URBAN VISTA 400 to 500 1,854 28 591,000 2 3.8 3.1 +0.7
14 VACANZA @ EAST 400 to 500 1,780 10 635,000 1 3.4 3.0 +0.4
15 VIBES @ EAST COAST 300 to 400 1,672 9 585,000 1 3.4 3.3 +0.1
19 VIBES @ KOVAN 300 to 400 1,633 3 538,888 1 3.6 3.3 +0.4

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
(%)
15 16 @ AMBER 400 to 500 1,871 7 730,000 1 3.1 2.9 +0.2
8 28 RC SUITES 400 to 500 1,932 11 700,000 1 3.3 3.3 +0.0
11 8 BASSEIN 400 to 500 2,047 19 810,000 1 3.0 3.5 -0.4
9 8 SAINT THOMAS 400 to 500 3,510 5 1,400,000 1 3.0 2.8 +0.2
15 91 MARSHALL 300 to 400 1,725 2 630,000 1 3.3 3.3 +0.0
12 AIRSTREAM 400 to 500 1,750 10 640,000 1 3.3 3.3 -0.0
9 ATTITUDE AT KIM YAM 300 to 400 2,000 8 705,000 1 3.4 3.1 +0.4
14 AVANT RESIDENCES 400 to 500 1,930 5 700,000 1 3.3 3.4 -0.1
13 BARTLEY RIDGE 400 to 500 1,927 51 724,000 5 3.2 2.8 +0.4
14 CENTRA HEIGHTS 400 to 500 1,903 15 660,000 1 3.5 3.1 +0.4
14 CENTRA LOFT 400 to 500 1,839 9 598,000 1 3.7 3.4 +0.3
14 CENTRA RESIDENCE 400 to 500 1,918 11 585,000 1 3.9 3.4 +0.5
7 CITY GATE 400 to 500 2,590 23 935,000 1 3.3 2.6 +0.7
8 CITY LOFT 300 to 400 1,728 9 600,000 1 3.5 3.5 -0.0
3 COMMONWEALTH TOWERS 400 to 500 2,474 104 918,000 1 3.2 3.4 -0.1
12 CRADELS 400 to 500 1,931 20 675,000 1 3.4 3.2 +0.2
7 DUO RESIDENCES 400 to 500 3,145 10 1,060,000 1 3.6 3.1 +0.5
14 EDENZ LOFT 400 to 500 1,708 16 562,500 2 3.6 3.4 +0.2
12 EIGHT RIVERSUITES 400 to 500 2,094 56 713,333 3 3.5 3.2 +0.3
9 ESPADA 300 to 400 2,478 38 955,000 2 3.1 3.3 -0.2
14 GUILLEMARD EDGE 400 to 500 1,807 51 670,000 1 3.2 3.9 -0.7
15 HAIG 162 300 to 400 1,747 13 574,250 4 3.7 3.6 +0.1
14 LA FLEUR 400 to 500 1,691 19 530,000 1 3.8 3.5 +0.4
14 LE REGAL 300 to 400 1,520 10 495,000 1 3.7 3.5 +0.2
11 LINCOLN SUITES 400 to 500 2,500 11 1,050,000 1 2.9 2.8 +0.1
10 LOFT @ NATHAN 400 to 500 2,157 21 815,000 1 3.2 3.0 +0.1
10 LOFT @ STEVENS 300 to 400 2,067 3 760,000 1 3.3 2.9 +0.4
10 LOFT@HOLLAND 300 to 400 2,261 9 840,000 1 3.2 3.3 -0.1
10 M5 400 to 500 2,233 3 960,000 1 2.8 2.7 +0.1
9 MACKENZIE 88 400 to 500 2,105 11 745,000 2 3.4 3.3 +0.1
12 NEEM TREE 400 to 500 2,067 6 830,000 1 3.0 2.5 +0.5
14 NESS 400 to 500 1,711 9 560,000 1 3.7 3.4 +0.3
21 NOTTINGHILL SUITES 300 to 400 1,682 17 644,000 2 3.1 3.1 +0.0
12 OKIO 400 to 500 1,959 14 698,800 1 3.4 3.1 +0.2
9 OXLEY EDGE 300 to 400 2,250 3 876,667 3 3.1 2.7 +0.4
1 PEOPLE'S PARK COMPLEX 400 to 500 1,653 20 525,000 3 3.8 3.6 +0.2
12 PRESTIGE HEIGHTS 300 to 400 1,765 22 500,000 1 4.2 3.9 +0.3
15 QUESTA @ DUNMAN 400 to 500 1,831 6 670,000 1 3.3 2.8 +0.4
8 RANGOON 88 400 to 500 1,806 9 680,000 1 3.2 3.2 +0.0
12 REGENT RESIDENCES 400 to 500 1,867 12 660,000 1 3.4 2.5 +0.9
12 RIVERBAY 300 to 400 1,659 10 590,000 1 3.4 3.2 +0.1
10 ROBIN SUITES 400 to 500 2,439 9 1,050,000 1 2.8 2.7 +0.1
1 ROBINSON SUITES 400 to 500 2,928 18 1,280,000 1 2.7 2.6 +0.1
14 ROYCE RESIDENCES 400 to 500 1,763 4 549,999 1 3.8 4.1 -0.3
10 RV EDGE 300 to 400 2,163 12 762,963 3 3.4 3.3 +0.1
10 RV EDGE 400 to 500 2,363 12 855,000 2 3.3 3.3 +0.0
10 RV RESIDENCES 400 to 500 2,532 19 956,667 3 3.2 2.8 +0.4
14 SIMS EDGE 400 to 500 1,832 11 663,800 1 3.3 2.9 +0.4
14 SIMS URBAN OASIS 400 to 500 2,038 58 751,000 3 3.3 3.0 +0.2
2 SKYSUITES@ANSON 300 to 400 2,752 63 928,000 1 3.6 3.9 -0.3
2 SPOTTISWOODE 18 300 to 400 2,243 58 853,000 1 3.2 3.4 -0.2
15 SUITES @ GUILLEMARD 300 to 400 1,793 7 625,000 1 3.4 3.3 +0.1
15 SUITES @ GUILLEMARD 400 to 500 1,825 2 580,000 1 3.8 3.3 +0.5
11 SUITES @ SHREWSBURY 300 to 400 1,858 6 555,000 1 4.0 3.9 +0.1
15 SUITES@ KATONG 400 to 500 1,900 1 610,000 1 3.7 3.4 +0.3
14 SUITES@CHANGI 400 to 500 1,623 10 590,000 1 3.3 3.4 -0.1
1 THE CLIFT 400 to 500 3,080 15 1,070,000 1 3.5 3.8 -0.3
21 THE CREEK @ BUKIT 400 to 500 1,938 8 785,000 1 3.0 2.3 +0.6
21 THE HILLFORD 300 to 400 1,747 40 487,500 8 4.3 4.4 -0.1
12 THE INTERWEAVE 400 to 500 1,861 16 640,000 1 3.5 3.7 -0.3
12 THE VERVE 400 to 500 1,838 8 622,500 2 3.5 3.1 +0.5
14 THE WATER EDGE 300 to 400 1,800 5 555,000 1 3.9 3.4 +0.5
20 THOMSON THREE 400 to 500 1,894 16 736,000 1 3.1 2.5 +0.6
20 THOMSON V TWO 400 to 500 1,738 8 620,000 1 3.4 3.7 -0.3
14 TRE RESIDENCES 400 to 500 2,218 11 720,000 1 3.7 3.1 +0.6
12 TREVISTA 400 to 500 2,050 7 660,000 1 3.7 3.0 +0.7
1 V ON SHENTON 400 to 500 2,828 41 1,122,000 1 3.0 3.0 +0.0
12 VETRO 400 to 500 1,683 3 585,000 1 3.5 3.3 +0.2
14 VIENTO 400 to 500 1,715 10 570,000 2 3.6 3.5 +0.1
5 VIVA VISTA 300 to 400 1,920 27 574,286 7 4.0 3.6 +0.4
9 VIVACE 300 to 400 2,559 9 798,000 1 3.8 3.5 +0.4
9 WILKIE 80 400 to 500 2,250 8 837,000 1 3.2 3.3 -0.1

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