When considering investing in a condominium, it is essential to also assess its potential rental yield. Rental yield is the annual rental income as a percentage of the property’s purchase price. This factor varies greatly in Singapore for condos, depending on location, property condition, and market demand. Generally, areas with high rental demand, such as near business districts or educational institutions, offer better rental yields. To gain a comprehensive understanding of a specific condo’s rental potential, conducting thorough market research and seeking guidance from real estate agents is advisable. Additionally, monitoring new condo launches, such as those found on New Condo Launches, can provide valuable insights into the potential rental yield of a particular condo.
Casa Fidelio, a freehold landed development situated on Fidelio Street in District 15, will soon be put up for sale through a collective tender on March 20. The site’s marketing agent, PropNex Realty, has announced that the reserve price for the development is set at $24 million, equivalent to a land rate of $1,388 per square foot. This marks the owners’ first attempt at an en bloc sale for Casa Fidelio, which comprises of seven strata-titled cluster terraces that were completed in 1990.
Set on a land area of about 17,293 square feet, Casa Fidelio boasts a prime location that allows for a mix of residential and landed housing developments up to two storeys. The property is surrounded by a serene and established landed housing enclave, conveniently located near various amenities such as East Coast Park, popular dining and lifestyle spots in Katong and Joo Chiat, as well as shopping destinations including Siglap Village, Siglap Centre and Bedok Mall.
Moreover, the upcoming completion of Kembangan Wave, an integrated public housing project next to Kembangan MRT Station, is expected to bring even more amenities to the area including a community club, eating house, supermarket and outpatient healthcare facility.
For families with school-going children, Casa Fidelio is well-served by a range of top schools including Opera Estate Primary School, St Stephen’s School and Victoria School, making it an ideal location for families with children. According to PropNex, the potential redevelopment opportunities for this site are endless, ranging from luxury cluster houses and landed terraces to even a standalone property. Laurence Wong, PropNex’s head of collective sales, believes that the site’s regular shape and generous land size provides developers with the flexibility to design a project that not only maximizes functionality but also boasts aesthetic appeal, making it a prime spot for a modern residential development that caters to the demand for landed homes in the East Coast area.
Recent property transactions at Casa Fidelio include a unit sold in September 2021 for $2.27 million ($1,198 per square foot). Moreover, only two freehold landed homes on Fidelio Street were transacted in 2024: A terrace house on a land area of 3,423 square feet sold for $9 million, equivalent to $2,629 per square foot, while a semi-detached house on 2,035 square feet of land was acquired for $5.38 million, amounting to $2,643 per square foot.
Notably, a recently-built corner terrace on Jalan Bangsawan, located just 400 meters from Casa Fidelio, was transacted for $3,541 per square foot in December 2024.
The tender for Casa Fidelio will close on April 22 at 3pm, providing developers with an opportunity to acquire a highly sought-after property in a prime location. Interested parties can check out the latest listings for Casa Fidelio properties on Ask Buddy and find out more about unprofitable landed transactions and rental yields for properties in District 15.