SOUTHBANK
UrbanLens Analysis
At $1,903 PSF, SOUTHBANK prices 8% below the District 07 median. Compare that to MIDTOWN MODERN at $3,135 PSF -- a 39% premium that buyers need to justify. Being 3 minutes on foot from Lavender MRT (207m) adds genuine convenience and supports the pricing.
The 5.4% gain in two years signals steady demand -- solid, not speculative. With 23 deals in two years, the pricing data has reasonable statistical weight. For context, CITY GATE has gained 3.8% over the same period.
Roughly 79 years of lease remain. That is comfortably long -- no financing haircuts, no CPF restrictions, no urgency to the timeline. Gross yield of 3.4% tracks the RCR average of 3.5%. At $4,910/month median rent, income is market-rate -- neither a standout nor a weakness.
At 197 units, the development is mid-sized: adequate amenities, manageable maintenance pool, and reasonable resale velocity.
Nearby Comparables
| Development | Median PSF | Yield | 2Y Change |
|---|---|---|---|
| AUREA | $2,860 | — | 0.0% |
| DUO RESIDENCES | $2,224 | 3.6% | +2.7% |
| CITY GATE | $2,124 | 2.8% | +3.8% |
| MIDTOWN MODERN | $3,135 | 3.3% | +9.9% |
| CONCOURSE SKYLINE | $2,013 | 3.4% | +4.8% |
PSF Trend
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