MELVILLE PARK
UrbanLens Analysis
At $919 PSF, MELVILLE PARK prices 33% below the District 18 median. Compare that to PARKTOWN RESIDENCE at $2,363 PSF -- a 61% premium that buyers need to justify. The 10-minute walk to Simei MRT (794m) is workable, though not the kind of proximity that commands a premium on its own.
Prices have essentially flatlined over two years (+3.7%), suggesting a market in equilibrium. 104 transactions over two years gives deep liquidity and reliable pricing signals. For context, THE TAPESTRY has gained 3.8% over the same period.
Around 65 years remain on the lease. Financing is still available, but the exit window narrows with each passing year. Factor this into any holding period beyond 15 years. At 4.2% gross yield versus the OCR average of 3.4%, rental returns are above-market. The $3,634/month median rent makes this genuinely compelling for income investors.
At 556 units, this is a mega-development. Maintenance economies and extensive amenities are the upside; oversupply during downturns is the risk.
Nearby Comparables
| Development | Median PSF | Yield | 2Y Change |
|---|---|---|---|
| PARKTOWN RESIDENCE | $2,363 | — | 0.0% |
| AURELLE OF TAMPINES | $1,769 | — | 0.0% |
| TREASURE AT TAMPINES | $1,738 | 3.7% | +5.6% |
| THE TAPESTRY | $1,704 | 3.9% | +3.8% |
| THE TAMPINES TRILLIANT | $1,646 | — | +21.1% |
PSF Trend
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