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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
(%)
15 448@EAST COAST 400 to 500 1,867 3 665,000 1 3.4 2.8 +0.5
15 AURALIS 400 to 500 1,875 2 728,000 1 3.1 2.3 +0.7
19 BARTLEY RESIDENCES 400 to 500 1,951 45 693,333 6 3.4 3.0 +0.4
19 CARDIFF RESIDENCE 400 to 500 1,744 30 567,857 7 3.7 3.4 +0.3
19 CASA CAMBIO 400 to 500 1,816 29 653,714 7 3.3 3.0 +0.3
18 COCO PALMS 400 to 500 1,797 22 663,000 1 3.3 3.1 +0.2
18 D'NEST 400 to 500 1,733 53 621,714 7 3.3 3.3 +0.1
16 EASTWOOD REGENCY 400 to 500 1,525 10 520,000 1 3.5 3.3 +0.2
27 EIGHT COURTYARDS 400 to 500 1,650 2 540,000 2 3.7 3.4 +0.3
15 ESPIRA SUITES 400 to 500 1,800 5 687,500 2 3.1 3.4 -0.3
17 HEDGES PARK CONDOMINIUM 400 to 500 1,642 15 527,500 2 3.7 3.8 -0.0
15 HERITAGE EAST 400 to 500 1,588 8 600,000 1 3.2 3.4 -0.2
23 HILLION RESIDENCES 400 to 500 1,825 83 751,333 3 2.9 3.0 -0.1
5 HUNDRED TREES 400 to 500 2,000 1 732,500 2 3.3 2.9 +0.4
19 ISUITES @ PALM 400 to 500 1,618 5 588,500 2 3.3 3.3 -0.0
22 J GATEWAY 400 to 500 2,401 58 900,000 1 3.2 3.2 -0.0
19 LA FIESTA 400 to 500 1,803 18 648,000 1 3.3 3.0 +0.4
15 LA VIDA @ 130 400 to 500 1,829 7 618,000 1 3.6 3.5 +0.1
15 LAVERNE'S LOFT 400 to 500 1,700 2 610,000 2 3.3 3.5 -0.1
14 LEVENUE 400 to 500 1,808 6 665,000 2 3.3 3.6 -0.3
16 OPTIMA @ TANAH MERAH 400 to 500 2,142 6 684,000 2 3.8 3.5 +0.3
14 PALMERA EAST 400 to 500 1,500 1 640,000 1 2.8 2.6 +0.2
15 PARC BLEU 400 to 500 1,750 9 582,500 2 3.6 3.3 +0.3
19 PARC CENTROS 400 to 500 1,730 17 659,333 3 3.1 3.1 +0.0
15 PARC ELEGANCE 300 to 400 1,650 7 547,500 2 3.6 3.6 -0.0
15 PARC ELEGANCE 400 to 500 1,664 15 607,600 5 3.3 3.6 -0.4
17 PARC OLYMPIA 400 to 500 1,644 14 554,333 3 3.6 3.6 -0.1
25 PARC ROSEWOOD 400 to 500 1,540 40 531,000 2 3.5 3.5 -0.0
19 PARK RESIDENCES KOVAN 300 to 400 1,576 10 547,500 2 3.5 3.2 +0.3
19 PRESTO@UPPER SERANGOON 400 to 500 1,725 10 635,333 3 3.3 3.1 +0.2
14 QUBE SUITES 400 to 500 2,000 1 641,000 2 3.7 3.0 +0.7
18 RIPPLE BAY 400 to 500 1,688 20 560,000 2 3.6 3.4 +0.3
19 RIVER ISLES 400 to 500 1,600 1 595,000 1 3.2 3.0 +0.2
28 RIVERBANK @ FERNVALE 400 to 500 1,665 2 590,000 4 3.4 2.8 +0.5
5 SEAHILL 400 to 500 2,160 5 749,000 2 3.5 3.4 +0.1
19 SPACE @ KOVAN 400 to 500 1,703 8 642,888 1 3.2 3.1 +0.1
18 STRATUM 400 to 500 1,596 25 600,000 1 3.2 3.6 -0.5
15 SUITES @ EASTCOAST 300 to 400 1,623 11 556,000 5 3.5 3.3 +0.3
14 SUITES @ EUNOS 300 to 400 1,720 5 579,300 1 3.6 4.1 -0.6
19 SUITES @ PAYA LEBAR 300 to 400 1,625 6 508,000 1 3.8 3.7 +0.1
19 THE BENTLY RESIDENCES@KOVAN 400 to 500 1,700 1 700,000 1 2.9 1.8 +1.1
15 THE COTZ 300 to 400 1,538 4 512,500 2 3.6 3.8 -0.2
15 THE COTZ 400 to 500 1,675 4 573,000 2 3.5 3.8 -0.3
14 THE EBONY 300 to 400 1,650 5 548,333 3 3.6 3.0 +0.6
17 THE INFLORA 400 to 500 1,570 21 537,375 8 3.5 3.4 +0.2
22 THE LAKEFRONT RESIDENCES 400 to 500 2,144 12 755,000 3 3.4 3.1 +0.4
14 THE LENOX 400 to 500 1,830 5 635,000 3 3.5 3.3 +0.1
19 THE LUXURIE 400 to 500 1,713 4 624,333 3 3.3 2.9 +0.4
27 THE NAUTICAL 400 to 500 1,629 12 530,000 1 3.7 3.6 +0.1
19 THE PROMENADE@PELIKAT 400 to 500 1,674 17 629,000 2 3.2 3.0 +0.2
19 THE SCALA 400 to 500 2,138 12 763,500 2 3.4 3.1 +0.2
19 THE VUE 400 to 500 1,650 4 550,000 1 3.6 3.4 +0.2
16 URBAN VISTA 400 to 500 1,839 25 630,000 1 3.5 3.0 +0.5
15 VIBES @ EAST COAST 300 to 400 1,631 8 577,667 3 3.4 3.4 +0.0
15 VIBES @ EAST COAST 400 to 500 1,677 11 620,667 3 3.2 3.4 -0.1

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 2,088 16 828,000 1 3.0 3.2 -0.2
15 16 @ AMBER 400 to 500 1,936 7 725,000 1 3.2 2.8 +0.4
13 18 WOODSVILLE 400 to 500 2,011 9 860,000 1 2.8 2.6 +0.2
15 38 I SUITES 400 to 500 1,931 8 761,000 2 3.0 3.0 +0.1
11 8 BASSEIN 400 to 500 2,104 12 815,444 2 3.1 3.0 +0.1
13 8@WOODLEIGH 300 to 400 1,738 4 660,000 1 3.2 3.0 +0.2
12 AIRSTREAM 400 to 500 1,725 8 643,333 3 3.2 3.4 -0.2
3 ALEX RESIDENCES 400 to 500 2,526 44 868,500 2 3.5 3.1 +0.4
3 ALEXIS 300 to 400 2,271 12 678,000 1 4.0 3.5 +0.5
3 ALEXIS 400 to 500 2,289 9 695,000 1 4.0 3.5 +0.4
14 AVANT RESIDENCES 300 to 400 2,933 9 664,250 4 5.3 6.1 -0.8
14 AVANT RESIDENCES 400 to 500 3,500 1 745,956 9 5.6 6.1 -0.4
13 BARTLEY RIDGE 400 to 500 1,875 49 708,833 6 3.2 2.9 +0.2
15 BELLA CASITA 400 to 500 2,000 1 700,000 2 3.4 2.9 +0.5
12 BLISS LOFT 400 to 500 1,850 2 615,000 1 3.6 3.3 +0.3
14 CASA AERATA 400 to 500 1,808 6 573,972 4 3.8 3.8 -0.0
8 CAVAN SUITES 300 to 400 1,825 6 570,000 1 3.8 3.3 +0.6
14 CENTRA HEIGHTS 400 to 500 1,861 14 674,000 2 3.3 3.2 +0.1
14 CENTRA LOFT 400 to 500 1,777 11 630,000 1 3.4 3.1 +0.3
14 CENTRA STUDIOS 400 to 500 1,842 6 600,000 1 3.7 3.8 -0.1
14 CENTRA SUITES 400 to 500 1,878 18 591,667 3 3.8 3.7 +0.1
14 CENTRAL IMPERIAL 400 to 500 1,700 2 470,450 4 4.3 4.0 +0.3
8 CITY LOFT 300 to 400 1,724 9 506,500 1 4.1 4.5 -0.4
12 CITY SUITES 400 to 500 2,049 12 860,078 5 2.9 2.9 -0.1
3 COMMONWEALTH TOWERS 400 to 500 2,310 60 879,000 2 3.2 3.0 +0.1
15 CORALIS 400 to 500 2,250 7 928,000 1 2.9 2.6 +0.3
12 CRADELS 400 to 500 1,868 14 702,500 2 3.2 3.4 -0.2
12 DOMUS 400 to 500 2,133 9 873,000 1 2.9 3.0 -0.1
2 DORSETT RESIDENCES 400 to 500 3,367 3 1,000,000 1 4.0 3.5 +0.5
3 ECHELON 400 to 500 2,618 17 980,000 1 3.2 3.3 -0.1
14 EDENZ LOFT 400 to 500 1,692 13 540,000 1 3.8 3.5 +0.3
14 EDENZ SUITES 400 to 500 1,736 7 590,000 3 3.5 3.6 -0.0
12 EIGHT RIVERSUITES 400 to 500 2,067 52 732,750 12 3.4 3.0 +0.4
9 ESPADA 300 to 400 2,565 30 964,286 7 3.2 3.2 +0.0
14 GUILLEMARD EDGE 400 to 500 1,857 37 644,833 6 3.5 3.3 +0.2
15 HAIG 162 300 to 400 1,694 9 530,000 1 3.8 3.8 +0.1
15 HAIG 162 400 to 500 1,833 3 700,000 2 3.1 3.8 -0.6
14 IDYLLIC SUITES 400 to 500 1,737 15 565,000 2 3.7 3.6 +0.1
9 ILLUMINAIRE ON DEVONSHIRE 400 to 500 2,467 6 963,500 2 3.1 2.9 +0.2
15 IMPERIAL HEIGHTS 400 to 500 1,760 5 675,000 1 3.1 3.1 +0.0
15 ISUITES @ MARSHALL 300 to 400 1,800 3 610,000 1 3.5 3.0 +0.5
14 LA BRISA 400 to 500 1,756 9 640,000 1 3.3 3.3 -0.1
14 LA FLEUR 400 to 500 1,704 14 533,000 4 3.8 3.5 +0.4
14 LE REGAL 400 to 500 1,670 5 509,000 2 3.9 4.0 -0.1
13 LEICESTER SUITES 400 to 500 1,917 6 725,000 2 3.2 3.0 +0.2
10 LOFT @ NATHAN 400 to 500 2,203 17 865,000 2 3.1 3.1 -0.0
8 LOFT @ RANGOON 400 to 500 1,883 3 650,000 1 3.5 3.1 +0.4
10 LOFT@HOLLAND 300 to 400 2,241 11 800,000 1 3.4 3.1 +0.2
2 LUMIERE 400 to 500 3,713 8 950,000 1 4.7 4.2 +0.5
14 MELOSA 400 to 500 1,767 6 650,000 1 3.3 3.3 -0.0
14 METRO LOFT 400 to 500 1,810 10 662,500 2 3.3 3.4 -0.1
14 MILLAGE 400 to 500 1,751 9 705,000 1 3.0 3.0 -0.1
9 MOUNT SOPHIA SUITES 400 to 500 2,250 2 860,000 1 3.1 3.4 -0.2
14 NESS 300 to 400 1,800 1 525,333 1 4.1 3.9 +0.2
9 NEWTON EDGE 400 to 500 2,150 2 892,500 2 2.9 2.7 +0.2
9 NOMU 400 to 500 2,900 1 1,160,000 1 3.0 2.6 +0.4
21 NOTTINGHILL SUITES 300 to 400 1,645 22 630,000 1 3.1 3.3 -0.2
21 NOTTINGHILL SUITES 400 to 500 1,813 4 640,000 1 3.4 3.3 +0.1
12 OKIO 400 to 500 1,946 13 700,000 1 3.3 3.4 -0.0
12 ONE DUSUN RESIDENCES 400 to 500 2,036 11 730,000 2 3.3 3.1 +0.2
9 OXLEY EDGE 400 to 500 2,406 9 860,000 1 3.4 3.8 -0.4
9 PARC SOPHIA 400 to 500 2,305 10 878,000 1 3.2 2.8 +0.4
1 PEOPLE'S PARK COMPLEX 400 to 500 1,664 20 510,000 1 3.9 4.0 -0.1
12 PRESTIGE HEIGHTS 300 to 400 1,763 27 580,950 4 3.6 3.6 +0.1
14 PRIME RESIDENCE 400 to 500 1,733 3 555,000 1 3.7 3.3 +0.4
14 PRIMEDGE 400 to 500 1,833 9 670,000 1 3.3 3.3 -0.1
15 QUESTA @ DUNMAN 400 to 500 1,825 4 680,000 1 3.2 2.9 +0.3
8 RANGOON 88 400 to 500 2,211 9 640,000 1 4.1 3.2 +0.9
12 REGENT RESIDENCES 400 to 500 1,818 11 679,444 2 3.2 2.8 +0.4
8 RESIDENCES @ SOMME 400 to 500 1,900 1 680,000 1 3.4 3.2 +0.1
12 RIVIERA 38 400 to 500 1,917 6 620,000 1 3.7 3.2 +0.5
9 ROBERTSON EDGE 400 to 500 2,459 16 925,500 1 3.2 3.5 -0.3
14 ROYCE RESIDENCES 400 to 500 1,725 4 605,000 1 3.4 4.4 -1.0
10 RV EDGE 300 to 400 2,132 15 774,000 2 3.3 3.5 -0.2
10 RV EDGE 400 to 500 2,517 9 828,000 5 3.6 3.5 +0.1
10 RV SUITES 400 to 500 2,600 4 920,000 1 3.4 3.2 +0.2
14 SILVERSCAPE 400 to 500 1,694 9 562,500 2 3.6 3.4 +0.2
14 SIMS EDGE 400 to 500 1,775 8 664,315 6 3.2 3.0 +0.2
14 SIMS URBAN OASIS 400 to 500 1,959 146 751,000 1 3.1 3.2 -0.1
20 SKY VUE 400 to 500 2,306 25 831,000 4 3.3 3.1 +0.2
4 SKYLINE RESIDENCES 400 to 500 2,800 10 1,020,000 1 3.3 2.7 +0.6
12 SKYSUITES17 300 to 400 1,890 10 635,000 6 3.6 3.2 +0.4
2 SKYSUITES@ANSON 300 to 400 2,832 55 954,000 2 3.6 3.6 -0.0
8 SOHO 188 400 to 500 2,350 6 680,000 1 4.1 3.6 +0.6
2 SPOTTISWOODE 18 300 to 400 2,249 50 845,922 4 3.2 3.5 -0.3
2 SPOTTISWOODE SUITES 400 to 500 2,664 18 1,010,000 2 3.2 2.9 +0.3
14 SUITES 28 400 to 500 1,867 3 562,500 2 4.0 2.7 +1.2
15 SUITES @ GUILLEMARD 200 to 300 1,400 1 445,000 1 3.8 3.4 +0.4
11 SUITES @ NEWTON 400 to 500 2,350 3 972,500 2 2.9 3.0 -0.1
8 SUITES @ OWEN 400 to 500 1,963 4 703,000 1 3.3 3.4 -0.1
14 SUITES @ SIMS 300 to 400 1,840 5 518,000 1 4.3 4.0 +0.3
12 SUITES @ TOPAZ 300 to 400 1,813 4 525,000 1 4.1 3.5 +0.7
15 SUITES@ KATONG 300 to 400 1,700 4 553,500 2 3.7 3.0 +0.7
14 SUITES@CHANGI 400 to 500 1,617 15 582,667 3 3.3 3.2 +0.1
15 TEMBELING RESIDENCE 400 to 500 1,800 2 640,000 1 3.4 2.6 +0.8
1 THE CLIFT 400 to 500 3,255 11 1,015,000 2 3.8 3.6 +0.3
21 THE CREEK @ BUKIT 400 to 500 1,877 11 795,000 1 2.8 2.6 +0.2
10 THE FORD @ HOLLAND 400 to 500 2,760 5 879,000 2 3.8 3.1 +0.7
4 THE FORESTA @ MOUNT FABER 400 to 500 2,505 10 868,000 1 3.5 2.9 +0.5
21 THE HILLFORD 300 to 400 1,676 46 503,333 3 4.0 4.6 -0.6
12 THE INTERWEAVE 300 to 400 1,749 17 599,333 3 3.5 3.7 -0.2
12 THE INTERWEAVE 400 to 500 1,972 9 673,000 1 3.5 3.7 -0.2
15 THE LINE @ TANJONG RHU 400 to 500 2,060 10 1,016,353 4 2.4 2.2 +0.2
14 THE OCTET 300 to 400 1,650 1 540,000 1 3.7 3.3 +0.4
15 THE VANDERLINT 400 to 500 1,850 2 620,000 1 3.6 3.3 +0.3
12 THE VERVE 400 to 500 1,775 4 666,500 2 3.2 2.9 +0.3
14 THE WATER EDGE 300 to 400 1,675 2 465,500 1 4.3 4.0 +0.3
14 THE WATER EDGE 400 to 500 1,863 20 692,667 3 3.2 4.0 -0.8
20 THREE 11 400 to 500 2,067 3 750,000 1 3.3 2.9 +0.4
12 TREVISTA 400 to 500 2,050 6 620,000 1 4.0 3.2 +0.8
8 TYRWHITT 139 300 to 400 1,875 4 585,000 1 3.8 4.2 -0.4
8 TYRWHITT 139 400 to 500 2,030 5 681,200 1 3.6 4.2 -0.6
9 UP@ROBERTSON QUAY 400 to 500 3,133 3 1,188,888 1 3.2 3.0 +0.2
1 V ON SHENTON 400 to 500 2,762 69 1,212,506 5 2.7 2.6 +0.1
15 VENTURA VIEW 400 to 500 1,600 1 530,000 1 3.6 3.7 -0.1
12 VETRO 400 to 500 1,800 3 569,000 2 3.8 3.9 -0.1
14 VIENTO 400 to 500 1,735 10 555,000 2 3.8 3.7 +0.1
5 VIVA VISTA 300 to 400 1,936 22 635,000 2 3.7 3.7 -0.0
9 VIVACE 300 to 400 2,218 10 850,800 1 3.1 3.3 -0.2
9 VIVACE 400 to 500 2,417 6 900,000 1 3.2 3.3 -0.1
10 VIZ AT HOLLAND 400 to 500 2,133 3 900,000 1 2.8 2.6 +0.2
14 WATERBANK AT DAKOTA 400 to 500 2,287 23 800,750 4 3.4 3.3 +0.1
9 WILKIE 80 300 to 400 2,117 3 790,000 1 3.2 3.3 -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.

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