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 | 1,978 | 19 | 679,000 | 2 | 3.5 | 3.1 | +0.4 |
| 19 | BOTANIQUE AT BARTLEY | 400 to 500 | 2,206 | 8 | 750,000 | 1 | 3.5 | 3.3 | +0.2 |
| 19 | CARDIFF RESIDENCE | 400 to 500 | 1,793 | 14 | 561,000 | 2 | 3.8 | 3.6 | +0.2 |
| 18 | COCO PALMS | 400 to 500 | 1,849 | 25 | 636,500 | 4 | 3.5 | 3.1 | +0.3 |
| 18 | D'NEST | 400 to 500 | 1,779 | 17 | 598,000 | 2 | 3.6 | 3.3 | +0.3 |
| 23 | FORESQUE RESIDENCES | 400 to 500 | 1,720 | 5 | 615,000 | 1 | 3.4 | 2.9 | +0.4 |
| 17 | HEDGES PARK CONDOMINIUM | 400 to 500 | 1,715 | 10 | 530,000 | 2 | 3.9 | 3.8 | +0.1 |
| 15 | HERITAGE EAST | 400 to 500 | 1,567 | 3 | 620,000 | 1 | 3.0 | 3.4 | -0.3 |
| 28 | HIGH PARK RESIDENCES | 300 to 400 | 1,613 | 4 | 523,333 | 3 | 3.7 | 3.5 | +0.2 |
| 28 | HIGH PARK RESIDENCES | 400 to 500 | 1,758 | 6 | 603,750 | 4 | 3.5 | 3.5 | -0.0 |
| 23 | HILLION RESIDENCES | 400 to 500 | 1,924 | 43 | 700,000 | 1 | 3.3 | 3.3 | -0.0 |
| 19 | JEWEL @ BUANGKOK | 400 to 500 | 1,850 | 10 | 662,500 | 2 | 3.4 | 3.0 | +0.4 |
| 19 | KINGSFORD WATERBAY | 400 to 500 | 1,770 | 32 | 597,667 | 3 | 3.6 | 3.4 | +0.2 |
| 14 | LEVENUE | 400 to 500 | 1,740 | 5 | 648,800 | 1 | 3.2 | 3.5 | -0.2 |
| 19 | MIDTOWN RESIDENCES | 400 to 500 | 1,829 | 7 | 650,000 | 1 | 3.4 | 3.2 | +0.1 |
| 23 | NATURA@HILLVIEW | 400 to 500 | 1,635 | 8 | 575,000 | 1 | 3.4 | 3.2 | +0.3 |
| 14 | PALMERA EAST | 400 to 500 | 1,750 | 2 | 600,000 | 1 | 3.5 | 2.9 | +0.6 |
| 15 | PARC BLEU | 400 to 500 | 1,788 | 4 | 610,000 | 1 | 3.5 | 3.4 | +0.1 |
| 19 | PARC CENTROS | 400 to 500 | 1,825 | 17 | 621,667 | 3 | 3.5 | 3.3 | +0.2 |
| 15 | PARC ELEGANCE | 300 to 400 | 1,700 | 2 | 540,000 | 1 | 3.8 | 3.4 | +0.4 |
| 15 | PARC ELEGANCE | 400 to 500 | 1,706 | 9 | 600,000 | 1 | 3.4 | 3.4 | +0.0 |
| 17 | PARC OLYMPIA | 400 to 500 | 1,707 | 14 | 540,000 | 1 | 3.8 | 3.7 | +0.1 |
| 5 | PARC RIVIERA | 400 to 500 | 2,041 | 38 | 653,750 | 2 | 3.7 | 3.2 | +0.6 |
| 25 | PARC ROSEWOOD | 400 to 500 | 1,534 | 32 | 503,250 | 4 | 3.7 | 3.7 | -0.0 |
| 19 | PRESTO@UPPER SERANGOON | 400 to 500 | 1,823 | 4 | 600,000 | 1 | 3.6 | 3.0 | +0.6 |
| 28 | RIVERBANK @ FERNVALE | 400 to 500 | 1,733 | 3 | 594,000 | 2 | 3.5 | 3.2 | +0.3 |
| 19 | SPACE @ KOVAN | 400 to 500 | 1,738 | 13 | 580,000 | 1 | 3.6 | 3.1 | +0.5 |
| 18 | STRATUM | 400 to 500 | 1,606 | 18 | 570,000 | 1 | 3.4 | 3.6 | -0.2 |
| 19 | SUITES @ PAYA LEBAR | 300 to 400 | 1,675 | 8 | 510,000 | 1 | 3.9 | 3.8 | +0.1 |
| 14 | THE EBONY | 300 to 400 | 1,717 | 3 | 513,000 | 1 | 4.0 | 3.7 | +0.4 |
| 16 | THE GLADES | 400 to 500 | 2,057 | 16 | 710,000 | 1 | 3.5 | 3.6 | -0.1 |
| 17 | THE INFLORA | 400 to 500 | 1,682 | 17 | 516,286 | 7 | 3.9 | 3.6 | +0.4 |
| 22 | THE LAKEFRONT RESIDENCES | 400 to 500 | 2,137 | 9 | 705,000 | 1 | 3.6 | 3.2 | +0.4 |
| 20 | THE PANORAMA | 400 to 500 | 1,804 | 14 | 689,000 | 2 | 3.1 | 2.7 | +0.4 |
| 19 | THE PROMENADE@PELIKAT | 400 to 500 | 1,677 | 13 | 555,000 | 1 | 3.6 | 3.8 | -0.1 |
| 18 | THE SANTORINI | 400 to 500 | 1,769 | 7 | 580,000 | 1 | 3.7 | 3.1 | +0.6 |
| 19 | THE TEMBUSU | 400 to 500 | 1,945 | 11 | 788,400 | 2 | 3.0 | 2.5 | +0.5 |
| 14 | TROPIKA EAST | 400 to 500 | 1,735 | 10 | 625,000 | 1 | 3.3 | 3.0 | +0.3 |
| 19 | URBAN RESIDENCES | 400 to 500 | 1,864 | 7 | 670,000 | 1 | 3.3 | 3.5 | -0.1 |
| 14 | VACANZA @ EAST | 400 to 500 | 1,680 | 10 | 690,000 | 1 | 2.9 | 2.8 | +0.1 |
| 15 | VIBES @ EAST COAST | 400 to 500 | 1,750 | 13 | 585,000 | 1 | 3.6 | 3.7 | -0.1 |
| 19 | VIBES @ KOVAN | 400 to 500 | 1,750 | 2 | 600,000 | 1 | 3.5 | 3.1 | +0.4 |
| 19 | VIBES@UPPER SERANGOON | 300 to 400 | 1,600 | 1 | 520,000 | 1 | 3.7 | 3.6 | +0.1 |
| 19 | VIBES@UPPER SERANGOON | 400 to 500 | 1,800 | 4 | 560,000 | 2 | 3.9 | 3.6 | +0.3 |
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 (%) |
|---|---|---|---|---|---|---|---|---|---|
| 13 | 18 WOODSVILLE | 400 to 500 | 2,040 | 5 | 788,000 | 1 | 3.1 | 3.3 | -0.2 |
| 14 | 28 IMPERIAL RESIDENCES | 400 to 500 | 1,763 | 4 | 630,000 | 1 | 3.4 | 3.1 | +0.3 |
| 15 | 38 I SUITES | 400 to 500 | 1,886 | 7 | 743,000 | 1 | 3.0 | 3.7 | -0.6 |
| 12 | AIRSTREAM | 400 to 500 | 1,722 | 9 | 650,000 | 1 | 3.2 | 3.8 | -0.6 |
| 3 | ALEXIS | 300 to 400 | 2,218 | 14 | 710,000 | 1 | 3.7 | 3.5 | +0.3 |
| 9 | ATTITUDE AT KIM YAM | 300 to 400 | 2,114 | 7 | 720,000 | 1 | 3.5 | 3.6 | -0.1 |
| 13 | BARTLEY RIDGE | 400 to 500 | 1,955 | 38 | 709,333 | 3 | 3.3 | 2.9 | +0.4 |
| 15 | BELLA CASITA | 400 to 500 | 1,900 | 2 | 560,000 | 1 | 4.1 | 3.1 | +1.0 |
| 14 | CASA AERATA | 400 to 500 | 1,771 | 7 | 563,000 | 1 | 3.8 | 3.7 | +0.1 |
| 14 | CENTRA LOFT | 400 to 500 | 1,871 | 7 | 583,000 | 1 | 3.9 | 3.5 | +0.3 |
| 8 | CITY LOFT | 300 to 400 | 1,785 | 10 | 570,000 | 1 | 3.8 | 3.9 | -0.1 |
| 3 | COMMONWEALTH TOWERS | 400 to 500 | 2,414 | 78 | 836,200 | 10 | 3.5 | 3.3 | +0.1 |
| 12 | CRADELS | 400 to 500 | 1,917 | 12 | 726,000 | 1 | 3.2 | 3.3 | -0.1 |
| 2 | DORSETT RESIDENCES | 400 to 500 | 2,917 | 3 | 915,000 | 1 | 3.8 | 3.6 | +0.2 |
| 12 | EIGHT RIVERSUITES | 400 to 500 | 2,132 | 43 | 741,500 | 2 | 3.4 | 3.2 | +0.3 |
| 15 | EVERITT EDGE | 400 to 500 | 1,733 | 3 | 628,000 | 1 | 3.3 | 3.4 | -0.1 |
| 14 | GUILLEMARD EDGE | 400 to 500 | 1,830 | 33 | 614,333 | 3 | 3.6 | 3.2 | +0.4 |
| 14 | IDYLLIC SUITES | 400 to 500 | 1,735 | 10 | 560,000 | 1 | 3.7 | 3.5 | +0.3 |
| 14 | LA FLEUR | 400 to 500 | 1,712 | 15 | 510,000 | 2 | 4.0 | 3.7 | +0.3 |
| 14 | LE REGAL | 300 to 400 | 1,613 | 8 | 498,800 | 1 | 3.9 | 4.2 | -0.3 |
| 10 | LOFT@HOLLAND | 400 to 500 | 2,400 | 2 | 808,591 | 1 | 3.6 | 4.1 | -0.5 |
| 12 | MOONSTONE ROYALE | 400 to 500 | 1,650 | 1 | 572,888 | 1 | 3.5 | 3.6 | -0.2 |
| 9 | MOUNT SOPHIA SUITES | 400 to 500 | 2,183 | 3 | 766,500 | 2 | 3.4 | 3.4 | +0.0 |
| 11 | MULBERRY TREE | 400 to 500 | 2,050 | 1 | 742,500 | 1 | 3.3 | 2.9 | +0.4 |
| 21 | NOTTINGHILL SUITES | 300 to 400 | 1,702 | 17 | 593,333 | 3 | 3.4 | 3.4 | +0.0 |
| 8 | PARC SOMME | 300 to 400 | 1,850 | 1 | 544,000 | 2 | 4.1 | 3.4 | +0.7 |
| 14 | PAVILION SQUARE | 300 to 400 | 1,864 | 7 | 550,000 | 1 | 4.1 | 4.5 | -0.5 |
| 1 | PEOPLE'S PARK COMPLEX | 400 to 500 | 1,710 | 10 | 468,000 | 1 | 4.4 | 3.9 | +0.5 |
| 12 | PRESTIGE HEIGHTS | 300 to 400 | 1,731 | 19 | 570,000 | 1 | 3.6 | 3.9 | -0.2 |
| 12 | PRESTIGE HEIGHTS | 400 to 500 | 1,946 | 5 | 540,000 | 1 | 4.3 | 3.9 | +0.5 |
| 14 | REZI 26 | 400 to 500 | 1,767 | 6 | 570,000 | 1 | 3.7 | 3.3 | +0.4 |
| 10 | RV EDGE | 400 to 500 | 2,369 | 8 | 850,000 | 1 | 3.3 | 3.7 | -0.4 |
| 10 | RV SUITES | 400 to 500 | 2,767 | 3 | 896,800 | 1 | 3.7 | 3.5 | +0.2 |
| 14 | SIMS EDGE | 400 to 500 | 1,850 | 9 | 735,000 | 1 | 3.0 | 3.0 | +0.0 |
| 14 | SIMS URBAN OASIS | 400 to 500 | 2,117 | 60 | 686,400 | 5 | 3.7 | 3.2 | +0.6 |
| 13 | SKY GREEN | 400 to 500 | 2,005 | 21 | 700,000 | 1 | 3.4 | 3.0 | +0.4 |
| 20 | SKY VUE | 400 to 500 | 2,374 | 17 | 810,000 | 1 | 3.5 | 3.1 | +0.4 |
| 2 | SKYSUITES@ANSON | 300 to 400 | 2,672 | 29 | 900,000 | 1 | 3.6 | 3.3 | +0.3 |
| 2 | SPOTTISWOODE 18 | 300 to 400 | 2,243 | 41 | 802,667 | 3 | 3.4 | 3.6 | -0.2 |
| 15 | SPRING @ LANGSAT | 400 to 500 | 1,725 | 2 | 596,000 | 1 | 3.5 | 3.0 | +0.5 |
| 15 | STUDIOS@TEMBELING | 400 to 500 | 2,167 | 3 | 730,000 | 1 | 3.6 | 3.2 | +0.4 |
| 8 | SUITES 123 | 400 to 500 | 2,013 | 4 | 638,888 | 1 | 3.8 | 4.2 | -0.4 |
| 14 | SUITES 28 | 400 to 500 | 1,875 | 2 | 570,000 | 1 | 3.9 | 2.5 | +1.4 |
| 15 | SUITES @ GUILLEMARD | 300 to 400 | 1,750 | 5 | 575,000 | 1 | 3.7 | 3.3 | +0.3 |
| 21 | SUITES AT BUKIT TIMAH | 300 to 400 | 1,690 | 5 | 600,000 | 1 | 3.4 | 3.0 | +0.4 |
| 14 | SUITES@CHANGI | 400 to 500 | 1,686 | 5 | 530,000 | 1 | 3.8 | 3.5 | +0.3 |
| 1 | THE CLIFT | 400 to 500 | 3,045 | 11 | 950,000 | 1 | 3.8 | 3.7 | +0.2 |
| 21 | THE HILLFORD | 300 to 400 | 1,751 | 35 | 472,500 | 6 | 4.4 | 4.9 | -0.5 |
| 14 | THE OCTET | 400 to 500 | 1,738 | 8 | 500,000 | 1 | 4.2 | 4.0 | +0.2 |
| 13 | THE POIZ RESIDENCES | 400 to 500 | 2,185 | 47 | 715,000 | 1 | 3.7 | 3.4 | +0.3 |
| 12 | THE VERVE | 400 to 500 | 1,875 | 6 | 615,000 | 1 | 3.7 | 3.2 | +0.4 |
| 20 | THOMSON IMPRESSIONS | 400 to 500 | 1,973 | 11 | 765,000 | 1 | 3.1 | 2.9 | +0.2 |
| 20 | THOMSON THREE | 400 to 500 | 1,883 | 6 | 780,000 | 1 | 2.9 | 2.5 | +0.4 |
| 14 | VIENTO | 400 to 500 | 1,783 | 6 | 530,000 | 1 | 4.0 | 3.7 | +0.3 |
| 5 | VIVA VISTA | 300 to 400 | 1,993 | 20 | 616,000 | 1 | 3.9 | 3.7 | +0.1 |
| 10 | VIZ AT HOLLAND | 400 to 500 | 2,200 | 4 | 800,000 | 1 | 3.3 | 2.7 | +0.6 |
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