A 743 sqft, one-bedroom unit at Marina Bay Residences will be offered for the first time at ET&Co auction on Aug 28. The corner unit on the 30th floor has a guide price of $1.7 million ($2,288 psf). It will be sold with existing tenancy that ends in Mar next year and carries a monthly rent of $4,500. The owner has decided to cash out and reinvest in another property, says Joy Tan, head of auction and sales at ET&Co. On the unit to be auctioned, Tan says: “This type of unit that is located in the CBD is likely to attract investors who are looking for an asset with a good yield return, as well as singles who work in the CBD area and want a home closer to their workplace.” She adds: “Investors are thus able to target singles or expatriate professionals working in the nearby area.” According to URA Realis, the unit last changed hands for about $1.92 million ($2,581 psf) in Apr 2010, but was initially sold for $1.54 million ($2,078 psf) in 2007.... Continue Reading