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busybee 10-11-2015 06:36 PM

The Poiz Residences small units potentially a sell out
This condo name changed 3 times I heard. Think from Pavilion to Andrew Residences then finally firming up with The Poiz Residences. Andrew Residences was rejected by the authority due to protest from St Andrew Alumni. Heard Poiz Residences launch price is between $1400 to $1600psf with 1 bed room starting high side of $6xxK. Even at $700K if you get rental of $3000 yield will be 5%. City fridge 1 bed room next to MRT and with mall below can get $3000 right? Ok even $2800 yield should still be decent at 4.x%. I think 1 bed room if really at $6xxK will be lucky if can get one at preview. Other then the potential high rental return, The Poiz Residence is located in Potong Pasir central where there is no more land beside the MRT. In fact, mix development land beside MRT is rare Island wide not just here. Majority of the past mix development land beside MRT all sold at premium prices compared to the average prices in the same neighbourhood. The recent example is North Park Residences in Yishun. FCL sold more then 50% of the development within 1st month of the launch at between $1400 to $1600psf. If Yishun can sell at this rate then it is a no brainer for the same buyer to invest in Potong Pasir.

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