Latest transaction in Dec showed a same size low floor unit transacting at S$1790 psf. Another all time high.
Compared with my purchase of $1,147 psf in 2019 that's S$664,219 of total capital gain excluding rental gains. This in percentage term equates to 56.05% capital gain since 2019.
This unit of mine has been rented out since 10th May 2019 till now. Lets break down the gross rental in totality till end of latest tenancy:
10th May 2019 to 23rd March 2020: S$21,000 (S$2,100 per mth)
23rd March 2020 to 22nd March 2021: S$27600 (S$2,300 per mth)
1st April 2021 to 9th July 2021: S$9,200 (S$2,400 per mth)
9th July 2021 to 8th July 2023: S$62,400 (S$2,600 per mth)
9th July 2023 to 8th July 2025: S$88,800 (S$3,700 per mth)
Total gross rental since inception: S$209,000
Total net rental (12% property tax): S$183,920
Total capital gain + net rental: S$848,139
I repriced my home loan on 1st Feb 2021 to a 5 years Fixed 1.5% package. Which means it will end in 1st Feb 2026. Still sometime to go, total loan is now below 400k. I can pay it off but since the rate is so low, will decide nearing the end of the package.
I try to always have a step up in rental after every tenancy renewal. The latest two years tenancy had a jump due to a surge in ocr rental index. Latest rental transactions for my unit size ranges from 3,600 to 4,200. This means the rental market is still robust, which also means potential step up in rental after the tenancy ends next year. Net rental yield to my cost is ard 3.3% pa(higher than Tbill). See how it goes.
No comments :
Post a Comment