Two-bedroom unit at Eon Shenton for sale at $1.98 mil

This also translates to more time saved on commuting to and from their daily destinations, creating an overall more efficient lifestyle. Furthermore, good connectivity invariably serves to increase real estate values, making Lumina Grand EC attractive to those looking to invest. In the long run, purchasers of Lumina Grand EC can anticipate a higher capital appreciation upon completion of the JRL.

Located in the bustling area of Downtown Core (District 2), the 99-year leasehold condo can be found on Shenton Way and is a short distance away from the Tanjong Pagar MRT Station as well as the upcoming Prince Edward MRT Station (Circle Line) which will finish in 2025. Additionally, the area provides various nearby amenities such as the Icon Village, 100AM Mall, and the Tanjong Pagar Plaza Market and Food Centre.

The owner purchased the property in July 2016 for around $1.60 million ($1,818 psf). The current rental rate was not disclosed, but according to URA sales data in the last 12 months, the rate of Eon Shenton units often range from $3.60 psf per month (pm) to $12.60 psf pm with an average of $7.90 psf pm. This would result in a rental yield of 4.3%, which is higher than other 99-year leasehold condos that were completed in 2017 such as Wallich Residence and V On Shenton with rental yields of 3.7% and 4.1%.

According to the caveats lodged in the past 12 months, units at Eon Shenton were resold for prices ranging from $1,705 psf to $2,477 psf with an average of $2,219 psf. The condo has also had eight transactions this year with the most recent being a 689 sq ft two-bedder which was sold for about $1.36 million ($1,973 psf).

Eon Shenton comprises a total of 132 units as well as residential units, strata offices, and shops and was built by Roxy-Pacific Holdings’ 70 Shenton. Furthermore, EdgeProp Singapore’s LandLens tool reveals that Singaporeans make up a majority of the buyers at 78.9%, 13.4% PRs and 7.7% foreigners.