Assessing the rental yield is a crucial step when considering a condo investment. Rental yield is the annual rental income as a percentage of the property’s purchase price. In Singapore, the rental yields for condos can differ significantly based on various factors such as location, property condition, and market demand. For instance, areas with high rental demand, like those near business districts or educational institutions, often offer better rental yields. Thus, conducting comprehensive market research and seeking guidance from real estate agents can provide valuable insights into the rental potential of a specific condo. Additionally, keeping an eye out for New Condo Launches can also help in assessing the potential rental yield. These new developments may offer better amenities and attract a higher rental demand, ultimately leading to a more lucrative investment.
Singapore-based flexible living platform Cove is pleased to announce the appointment of Ashish Manchharam, a seasoned real estate and hospitality professional, as a board director. With over 10 years of experience, Manchharam founded and led 8M Real Estate to a portfolio of $1.5 billion before exiting in 2023. He then established Elevate Capital in 2024, focusing on lifestyle-driven real estate investments.
In his role as an advisor, Manchharam will assist Cove in acquiring flexible living assets in collaboration with third-party investors such as real estate funds, institutional investors, and family offices. This strategic move is in line with Cove’s plan to accelerate its growth through a new asset acquisition model. Previously, Cove operated solely as a branded flexible living operator and online listing platform, catering to professionals and students.
Since its inception in 2018, Cove has grown its portfolio to over 6,000 rooms in Singapore and Indonesia. The company aims to expand its presence in the wider Asia Pacific region, with recent ventures into South Korea and Japan, where it plans to launch 800 and 400 rooms, respectively, through local joint venture partners.
To support its regional expansion and strengthen its leadership position, Cove has raised an additional US$4.5 million in funding. Manchharam joined this round of funding, along with existing investors Eurazeo and Keppel, who had previously taken a strategic minority stake in Cove in December 2020.
According to Cove CEO and co-founder Guillaume Catagne, the company saw significant portfolio growth in 2024 and became EBITDA positive. With a clear focus on expansion, Cove plans to more than double its portfolio to 15,000 units by the end of 2025.