If I have $1 million and want to buy a rental investment condo, which development should I consider?

If you have $1 million to invest in a rental condo in Singapore, here are some developments you might consider, focusing on those that offer high rental yields and are within your budget:

NEWest

Located in the West Coast area, NEWest is a 956-year leasehold condo that offers relatively high rental yields due to its lower purchase prices. Although it is not close to an MRT station, it is accessible via bus routes, and Clementi Mall is nearby. The smaller unit sizes here can attract tenants looking for affordable rentals.

Jool Suites

This boutique, freehold condo in Farrer Park offers small units that are ideal for short-term rentals. With prices averaging around $1,460 per square foot, units here can be purchased for $725,000 or less. Its proximity to Farrer Park MRT and amenities like Mustafa Centre and City Square Mall makes it an attractive option for renters.

Parc Imperial

Located near Haw Par Villa MRT, Parc Imperial features small units ranging from 398 to 420 square feet. These units can be purchased for as low as $745,000, making them a viable option for rental investment. Although the surrounding area is not densely populated, it is still within walking distance to necessary amenities and public transport.

These developments are highlighted for their potential to generate high rental yields due to their smaller unit sizes and relatively lower purchase prices, making them more affordable and attractive to renters.