PARKTOWN RESIDENCE
UrbanLens Analysis
At $2,363 PSF, PARKTOWN RESIDENCE prices 73% above the District 18 median. It commands a 157% premium over MELVILLE PARK ($919 PSF), which raises the bar on what it must deliver. The 18-minute walk to Pasir Ris MRT (1476m) is workable, though not the kind of proximity that commands a premium on its own.
Prices have essentially flatlined over two years (+0.0%), suggesting a market in equilibrium. 1124 transactions over two years gives deep liquidity and reliable pricing signals. For context, MELVILLE PARK has gained 3.7% over the same period.
With ~96 years on a 99-year lease, financing and CPF remain fully unconstrained. Lease decay is a non-issue at this stage. Rental data is too thin to calculate a reliable yield. Treat this as a capital-appreciation play and verify rental demand independently.
At 1193 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 |
|---|---|---|---|
| AURELLE OF TAMPINES | $1,769 | — | 0.0% |
| TREASURE AT TAMPINES | $1,738 | 3.7% | +5.6% |
| THE TAPESTRY | $1,704 | 3.9% | +3.8% |
| MELVILLE PARK | $919 | 4.2% | +3.7% |
| THE TAMPINES TRILLIANT | $1,646 | — | +21.1% |
PSF Trend
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