Archive for category: Misc

An asking price of $1.1 million ($1,705 psf) has been set for the upcoming sale of a one-bedroom unit at Lumiere, a 99-year leasehold condo in District 2 of Tanjong Pagar. Sitting on the 23rd floor of Mistri Road, the 645 sq ft unit features an open-concept kitchen, a shared living and dining area, and a bedroom with an attached balcony. This unit also comes with an existing tenancy which ends in June next year.

Lumiere’s neighbouring condos in the vicinity have higher average resale prices compared to the development. 76 Shenton on Shenton Way commands an average price of $1,986 psf, Skysuites@Anson at Enggor Street has an average price of $2,242 psf, Icon Residence on Gopeng Street has an average price of $1,831 psf, and Altez on Enggor Street is at $1,989 psf. Conversely, the average price at Lumiere is $1,729 psf, making it the most affordable condo in the area.

Besides its ideal location, between Anson Road and Shenton Way, residents of Lumiere are also able to easily access nearby landmarks such as the mixed-use Guoco Tower on Wallich Street, International Plaza on Anson Road and 100AM shopping mall on Tras Street. In addition, a seven-minute walk from Tanjong Pagar MRT Station, Lumiere is also close to Zion Road GLS, where upcoming developments such as One Bernam on Bernam Street, TMW Maxwell on Tras Street, Newport Residences and Newport Tower on Anson Road, and Skywater Residences on Shenton Way are set to launch in the next few years.

With the launch of Zion Road GLS, luxury living is no longer out of reach. The seven-storey residential building offers innovative designs with units ranging from one bedroom to four bedroom apartments; all of which come with the highest quality of modern fixtures. With exciting amenities and a seamless blend of nature and convenience, the Zion Road Condo promises to provide the perfect lifestyle for its residents.

Caveats tabulated by EdgeProp Singapore show that rental yields at Lumiere are comparable to those of surrounding condos, with landlords at Lumiere receiving an average rental yield of 4.5%. In terms of resale transactions, four units have been sold this year, two of which involve one-bedroom units. On Nov 6, a 624 sq ft unit on the 32nd floor was transacted for $1.13 million ($1,810 psf), whilst on May 11, a 678 sq ft unit on the 13th floor was sold for $1.06 million ($1,570 psf).

Knight Frank is holding an auction for this sale on Dec 12. With its favourable location, coupled with an affordable price and diverse amenities, this unit at Lumiere is definitely worth exploring as a savvy long-term investment.