Rental index for private OCR region continues showing an upward convex trajectory(latest data includes Feb 2023).
My tenancy agreement is ending on 8th July 2023. Manage to do an early renewal for another two more years. Rental rates negotiated to S$3,700 per month(42.3% higher). So far was able to increase the rental gradually after every tenancy renewal, the current substantial increase is likely due to the surge in rental index island wide. The renewed yield to cost is now close to 4% pa.
This means the gross rental income for this year will be S$37,800. Next year will be S$44,400.
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| Distance from Glendale to Hillv2 Mall |
I notice there are amenity upgrades at HillV2 which is a mixed development shopping area right next to Glendale. New tenants include, 7-11, Guardian, Fun Toast and HSBC Bank, together with the existing CS Fresh supermarket, Starbucks and K-Cut, means more convenience for tenants/residents around this area.
The psf for Glendale still remains the same at S$1,580 psf. Have to wait for more price discovery later this year.
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