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
(%)
15 448@EAST COAST 400 to 500 1,788 4 665,000 1 3.2 2.9 +0.3
15 AURALIS 400 to 500 1,950 3 726,000 2 3.2 2.6 +0.6
19 BARTLEY RESIDENCES 400 to 500 1,971 41 687,167 6 3.4 3.0 +0.4
19 CARDIFF RESIDENCE 400 to 500 1,735 23 566,667 3 3.7 3.4 +0.3
19 CASA CAMBIO 400 to 500 1,834 31 663,875 8 3.3 3.1 +0.2
18 D'NEST 400 to 500 1,744 51 629,143 7 3.3 3.3 +0.0
19 D'ZIRE 400 to 500 1,575 2 565,000 1 3.3 2.7 +0.6
16 EASTWOOD REGENCY 400 to 500 1,507 12 520,000 1 3.5 3.2 +0.2
23 FORESQUE RESIDENCES 400 to 500 1,718 8 620,000 1 3.3 2.9 +0.4
17 HEDGES PARK CONDOMINIUM 400 to 500 1,638 18 530,000 3 3.7 3.6 +0.1
15 HERITAGE EAST 300 to 400 1,625 4 555,000 1 3.5 3.3 +0.2
15 HERITAGE EAST 400 to 500 1,643 7 600,000 1 3.3 3.3 +0.0
23 HILLION RESIDENCES 400 to 500 1,827 98 771,154 13 2.8 2.8 +0.1
19 ISUITES @ PALM 400 to 500 1,623 3 583,000 3 3.3 3.2 +0.1
22 J GATEWAY 400 to 500 2,387 35 855,000 2 3.3 3.3 +0.1
14 KEMBANGAN SUITES 400 to 500 2,300 1 690,000 1 4.0 3.3 +0.7
19 KOVAN GRANDEUR 300 to 400 1,583 3 485,000 1 3.9 4.3 -0.3
19 LA FIESTA 400 to 500 1,820 15 648,000 1 3.4 2.9 +0.4
15 LA VIDA @ 130 400 to 500 1,775 8 638,000 1 3.3 3.2 +0.1
15 LAVERNE'S LOFT 300 to 400 1,617 6 554,500 2 3.5 3.4 +0.1
15 LAVERNE'S LOFT 400 to 500 1,667 3 590,000 1 3.4 3.4 +0.0
14 LEVENUE 400 to 500 1,830 10 660,000 3 3.3 3.6 -0.3
16 OPTIMA @ TANAH MERAH 400 to 500 2,111 9 678,000 1 3.7 3.6 +0.2
19 PARC CENTROS 400 to 500 1,718 19 650,000 2 3.2 3.2 -0.1
15 PARC ELEGANCE 300 to 400 1,642 6 545,000 2 3.6 3.7 -0.1
15 PARC ELEGANCE 400 to 500 1,721 15 597,500 2 3.5 3.7 -0.2
17 PARC OLYMPIA 400 to 500 1,672 10 551,500 2 3.6 3.5 +0.1
25 PARC ROSEWOOD 400 to 500 1,552 45 522,444 9 3.6 3.3 +0.2
19 PARK RESIDENCES KOVAN 300 to 400 1,688 4 547,500 2 3.7 3.9 -0.2
19 PRESTO@UPPER SERANGOON 400 to 500 1,733 6 630,000 3 3.3 3.1 +0.2
14 QUBE SUITES 400 to 500 1,850 2 641,000 2 3.5 2.9 +0.6
18 RIPPLE BAY 400 to 500 1,703 18 531,667 3 3.8 3.4 +0.4
28 RIVERBANK @ FERNVALE 400 to 500 1,660 8 583,333 3 3.4 3.0 +0.4
5 SEAHILL 400 to 500 2,200 1 740,000 1 3.6 3.3 +0.3
18 STRATUM 400 to 500 1,565 13 572,888 1 3.3 3.5 -0.2
15 SUITES @ EASTCOAST 300 to 400 1,583 16 560,000 1 3.4 3.3 +0.1
19 SUITES @ PAYA LEBAR 300 to 400 1,655 15 508,000 1 3.9 3.8 +0.1
13 SUITES@BRADDELL 300 to 400 1,700 3 550,000 1 3.7 3.8 -0.0
19 THE BENTLY RESIDENCES@KOVAN 400 to 500 1,900 1 700,000 1 3.3 2.0 +1.3
15 THE COTZ 300 to 400 1,550 5 512,500 2 3.6 3.6 +0.1
15 THE COTZ 400 to 500 1,667 3 578,000 2 3.5 3.6 -0.1
14 THE EBONY 300 to 400 1,650 1 565,000 2 3.5 3.1 +0.4
17 THE INFLORA 400 to 500 1,568 24 534,375 8 3.5 3.2 +0.3
22 THE LAKEFRONT RESIDENCES 400 to 500 2,111 9 755,000 3 3.4 3.2 +0.2
14 THE LENOX 400 to 500 1,800 4 635,000 3 3.4 3.3 +0.1
19 THE LUXURIE 400 to 500 1,750 1 611,667 3 3.4 2.9 +0.5
27 THE NAUTICAL 400 to 500 1,700 8 530,000 1 3.8 3.6 +0.3
20 THE PANORAMA 400 to 500 1,745 31 720,000 1 2.9 2.7 +0.2
19 THE PROMENADE@PELIKAT 400 to 500 1,650 12 608,000 1 3.3 2.8 +0.4
19 THE SCALA 400 to 500 2,159 17 755,000 2 3.4 3.2 +0.2
19 THE VUE 400 to 500 1,800 4 550,000 1 3.9 3.4 +0.5
14 VACANZA @ EAST 400 to 500 1,661 9 650,000 1 3.1 3.1 -0.0
15 VIBES @ EAST COAST 400 to 500 1,675 8 592,000 1 3.4 3.5 -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
(%)
15 16 @ AMBER 400 to 500 1,917 6 732,500 2 3.1 2.7 +0.5
13 18 WOODSVILLE 400 to 500 2,030 10 860,000 1 2.8 2.8 +0.1
11 26 NEWTON 400 to 500 2,482 19 1,244,740 1 2.4 2.5 -0.1
15 38 I SUITES 400 to 500 1,931 8 780,000 1 3.0 3.2 -0.2
11 6 DERBYSHIRE 400 to 500 2,300 4 1,209,609 12 2.3 2.3 -0.0
11 8 BASSEIN 400 to 500 2,045 11 815,444 2 3.0 2.9 +0.1
13 8@WOODLEIGH 300 to 400 1,875 2 660,000 1 3.4 3.1 +0.3
3 ALEX RESIDENCES 400 to 500 2,497 43 845,000 1 3.5 3.1 +0.4
3 ALEXIS 300 to 400 2,282 14 703,333 3 3.9 3.4 +0.5
3 ALEXIS 400 to 500 2,265 10 695,000 1 3.9 3.4 +0.5
9 ASPEN LINQ 400 to 500 2,350 2 715,000 1 3.9 3.3 +0.7
13 BARTLEY RIDGE 400 to 500 1,874 42 696,125 8 3.2 3.0 +0.3
15 BELLA CASITA 400 to 500 1,867 3 690,000 1 3.2 2.9 +0.4
14 CASA AERATA 300 to 400 1,623 3 520,000 1 3.7 3.6 +0.1
14 CASA AERATA 400 to 500 1,894 8 565,296 3 4.0 3.6 +0.4
8 CAVAN SUITES 300 to 400 1,821 7 575,000 2 3.8 3.3 +0.5
14 CENTRA HEIGHTS 400 to 500 1,889 15 682,667 3 3.3 3.3 +0.1
14 CENTRA STUDIOS 300 to 400 1,770 5 541,667 3 3.9 3.6 +0.4
14 CENTRA STUDIOS 400 to 500 1,863 4 625,000 2 3.6 3.6 +0.0
14 CENTRA SUITES 400 to 500 1,800 11 600,000 1 3.6 3.6 +0.0
8 CITY LOFT 300 to 400 1,738 12 533,250 2 3.9 4.4 -0.5
12 CITY SUITES 400 to 500 2,131 6 831,267 19 3.1 3.1 -0.0
12 CRADELS 400 to 500 1,900 9 669,000 1 3.4 3.4 -0.0
12 DOMUS 400 to 500 2,183 6 854,000 2 3.1 2.8 +0.3
2 DORSETT RESIDENCES 400 to 500 3,167 3 1,000,000 1 3.8 3.5 +0.3
3 ECHELON 400 to 500 2,605 22 935,000 3 3.3 3.3 +0.1
14 EDENZ SUITES 400 to 500 1,750 2 600,000 1 3.5 3.5 +0.0
12 EIGHT RIVERSUITES 400 to 500 2,001 45 719,300 10 3.3 3.1 +0.3
9 ESPADA 300 to 400 2,595 28 970,000 3 3.2 3.1 +0.1
15 EVERITT EDGE 400 to 500 1,700 3 655,000 1 3.1 3.5 -0.4
8 FARRER PARK SUITES 300 to 400 2,000 1 640,000 1 3.8 3.1 +0.6
14 GUILLEMARD EDGE 400 to 500 1,841 42 642,167 6 3.4 3.4 +0.1
15 HAIG 162 300 to 400 1,683 9 555,000 1 3.6 3.8 -0.2
15 HAIG 162 400 to 500 1,700 1 673,333 3 3.0 3.8 -0.8
14 IDYLLIC SUITES 400 to 500 1,694 9 565,000 2 3.6 3.5 +0.1
9 ILLUMINAIRE ON DEVONSHIRE 400 to 500 2,567 6 938,500 2 3.3 3.2 +0.1
15 IMPERIAL HEIGHTS 400 to 500 1,750 5 675,000 1 3.1 3.0 +0.1
8 JOOL SUITES 400 to 500 1,950 8 661,667 3 3.5 3.7 -0.1
14 LA FLEUR 400 to 500 1,655 10 528,500 2 3.8 3.5 +0.3
14 LE REGAL 400 to 500 1,570 5 509,000 2 3.7 3.9 -0.2
13 LEICESTER SUITES 400 to 500 1,900 8 728,333 3 3.1 3.2 -0.1
11 LINCOLN SUITES 400 to 500 2,767 15 1,100,000 1 3.0 3.1 -0.1
10 LOFT @ NATHAN 400 to 500 2,196 12 856,000 3 3.1 3.0 +0.1
10 LOFT@HOLLAND 300 to 400 2,292 12 800,000 1 3.4 3.1 +0.3
9 MACKENZIE 138 400 to 500 2,100 4 720,000 1 3.5 2.9 +0.6
9 MACKENZIE 88 400 to 500 2,088 12 765,000 1 3.3 3.4 -0.1
14 MELOSA 400 to 500 1,771 7 578,000 4 3.7 3.4 +0.3
14 METRO LOFT 400 to 500 1,800 9 657,500 2 3.3 3.3 -0.0
9 MOUNT SOPHIA SUITES 400 to 500 2,150 6 860,000 1 3.0 3.4 -0.4
15 MOUNTBATTEN LODGE 300 to 400 1,300 1 609,000 1 2.6 2.9 -0.3
14 NESS 300 to 400 1,800 1 525,333 1 4.1 3.2 +0.9
9 NEWTON EDGE 400 to 500 2,180 5 892,500 2 2.9 2.8 +0.1
21 NOTTINGHILL SUITES 300 to 400 1,683 14 630,000 2 3.2 3.2 -0.0
12 OKIO 400 to 500 1,982 11 705,000 1 3.4 3.3 +0.1
12 ONE DUSUN RESIDENCES 400 to 500 2,039 9 700,000 1 3.5 3.3 +0.2
12 OPAL SUITES 400 to 500 1,800 4 580,000 2 3.7 3.7 -0.0
5 PARC IMPERIAL 400 to 500 2,022 16 677,500 2 3.6 3.9 -0.3
9 PARC SOPHIA 400 to 500 2,370 10 879,000 2 3.2 3.1 +0.2
1 PEOPLE'S PARK COMPLEX 400 to 500 1,627 22 510,000 1 3.8 4.4 -0.6
11 PEPPERMINT GROVE 400 to 500 2,000 1 838,000 1 2.9 2.9 -0.0
12 PRESTIGE HEIGHTS 300 to 400 1,745 22 545,833 3 3.8 3.7 +0.1
12 PRESTIGE HEIGHTS 400 to 500 1,850 3 622,000 1 3.6 3.7 -0.1
14 PRIME RESIDENCE 300 to 400 1,575 2 510,000 1 3.7 3.5 +0.2
14 PRIME RESIDENCE 400 to 500 1,850 2 555,000 1 4.0 3.5 +0.5
15 QUESTA @ DUNMAN 400 to 500 1,933 3 680,000 1 3.4 2.9 +0.5
12 REGENT RESIDENCES 400 to 500 1,864 7 676,296 3 3.3 2.7 +0.6
8 RESIDENCES @ SOMME 400 to 500 1,900 1 680,000 1 3.4 3.2 +0.1
14 REZI 26 400 to 500 1,847 18 589,444 2 3.8 3.5 +0.2
12 RIVIERA 38 400 to 500 1,990 5 620,000 1 3.9 3.3 +0.6
10 RV EDGE 300 to 400 2,136 14 755,000 2 3.4 3.5 -0.1
10 RV EDGE 400 to 500 2,300 15 828,000 1 3.3 3.5 -0.1
10 RV RESIDENCES 400 to 500 2,646 13 970,000 1 3.3 3.2 +0.1
14 SILVERSCAPE 400 to 500 1,709 9 561,667 3 3.7 3.4 +0.3
14 SIMS EDGE 400 to 500 1,814 7 664,315 6 3.3 3.1 +0.2
20 SKY VUE 400 to 500 2,298 31 826,829 7 3.3 3.2 +0.1
4 SKYLINE RESIDENCES 400 to 500 2,660 10 965,000 1 3.3 2.8 +0.5
12 SKYSUITES17 300 to 400 1,896 12 639,500 6 3.6 3.1 +0.4
2 SKYSUITES@ANSON 300 to 400 2,834 50 910,000 1 3.7 3.7 -0.0
8 SOHO 188 400 to 500 2,300 5 670,000 1 4.1 3.5 +0.7
8 SOHO @ FARRER 400 to 500 2,000 3 680,000 1 3.5 3.9 -0.4
2 SPOTTISWOODE 18 300 to 400 2,253 44 826,667 3 3.3 3.6 -0.3
2 SPOTTISWOODE SUITES 400 to 500 2,640 20 1,010,000 2 3.1 3.0 +0.1
14 SUITES 28 400 to 500 1,900 1 575,000 1 4.0 2.7 +1.3
11 SUITES @ NEWTON 400 to 500 2,350 3 950,000 1 3.0 3.3 -0.3
8 SUITES @ OWEN 400 to 500 1,900 2 703,000 1 3.2 3.6 -0.3
14 SUITES @ SIMS 300 to 400 1,850 4 518,000 1 4.3 4.1 +0.2
12 SUITES @ TOPAZ 300 to 400 1,717 3 505,000 1 4.1 3.7 +0.4
21 SUITES AT BUKIT TIMAH 400 to 500 1,670 5 675,000 1 3.0 3.5 -0.5
15 SUITES@ KATONG 300 to 400 1,688 4 526,500 2 3.8 3.2 +0.7
14 SUITES@CHANGI 400 to 500 1,640 5 591,000 2 3.3 3.2 +0.2
1 THE CLIFT 400 to 500 3,200 12 1,000,000 1 3.8 3.7 +0.2
21 THE CREEK @ BUKIT 400 to 500 1,950 8 795,000 1 2.9 3.2 -0.3
10 THE FORD @ HOLLAND 400 to 500 2,650 6 920,000 1 3.5 3.3 +0.2
4 THE FORESTA @ MOUNT FABER 400 to 500 2,530 5 868,000 1 3.5 3.1 +0.4
21 THE HILLFORD 300 to 400 1,699 32 503,333 3 4.1 4.5 -0.4
12 THE INTERWEAVE 400 to 500 1,969 8 673,000 1 3.5 4.0 -0.5
15 THE LINE @ TANJONG RHU 400 to 500 2,080 5 1,053,051 10 2.4 2.0 +0.3
15 THE VANDERLINT 400 to 500 1,900 1 620,000 1 3.7 3.1 +0.6
12 THE VERVE 400 to 500 1,888 4 690,000 1 3.3 2.6 +0.6
14 THE WATER EDGE 300 to 400 1,760 5 465,500 1 4.5 4.2 +0.4
14 THE WATER EDGE 400 to 500 1,891 16 680,000 1 3.3 4.2 -0.8
20 THREE 11 400 to 500 2,000 1 750,000 1 3.2 2.6 +0.6
12 TREVISTA 400 to 500 2,033 3 620,000 1 3.9 3.1 +0.9
8 TYRWHITT 139 400 to 500 2,025 6 681,200 1 3.6 4.6 -1.0
9 UP@ROBERTSON QUAY 400 to 500 2,930 5 1,188,888 1 3.0 3.2 -0.2
1 V ON SHENTON 400 to 500 2,897 27 1,151,132 4 3.0 2.7 +0.3
12 VETRO 400 to 500 1,775 2 569,000 2 3.7 4.5 -0.7
14 VIENTO 400 to 500 1,750 10 550,000 3 3.8 3.7 +0.1
5 VIVA VISTA 300 to 400 1,969 24 610,000 1 3.9 3.7 +0.2
5 VIVA VISTA 400 to 500 1,942 6 685,000 1 3.4 3.7 -0.3
9 VIVACE 300 to 400 2,194 11 838,000 1 3.1 3.3 -0.2
14 WATERBANK AT DAKOTA 400 to 500 2,281 16 799,600 5 3.4 3.3 +0.2
9 WILKIE 80 300 to 400 2,175 2 790,000 1 3.3 3.2 +0.1
11 ZEDGE 400 to 500 1,854 12 760,000 1 2.9 2.7 +0.2

Disclaimer

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