SUITES @ PAYA LEBAR
UrbanLens Analysis
SUITES @ PAYA LEBAR commands $1,649 PSF -- 12% above what District 19 typically fetches ($1,472 PSF). Serangoon MRT is 810m away (10-min walk), functional but not a headline selling point. Against CHUAN PARK at $2,596 PSF, the 36% discount is worth examining closely.
Prices have essentially flatlined over two years (+3.8%), suggesting a market in equilibrium. With 14 deals in two years, the pricing data has reasonable statistical weight. For context, THE FLORENCE RESIDENCES has gained 0.8% over the same period.
Being freehold means zero lease-decay anxiety. Full CPF eligibility, maximum LTV, and a universally bankable asset. At 4.2% gross yield versus the OCR average of 3.4%, rental returns are above-market. The $2,398/month median rent makes this genuinely compelling for income investors.
The 99-unit size hits a practical sweet spot -- enough scale for decent facilities without the oversupply risk of mega-developments.
Nearby Comparables
| Development | Median PSF | Yield | 2Y Change |
|---|---|---|---|
| CHUAN PARK | $2,596 | 1.3% | 0.0% |
| THE FLORENCE RESIDENCES | $1,779 | 3.4% | +0.8% |
| AFFINITY AT SERANGOON | $1,794 | 3.5% | +2.6% |
| RIVERFRONT RESIDENCES | $1,706 | 3.7% | +6.8% |
| THE GARDEN RESIDENCES | $1,829 | 3.9% | +2.7% |
PSF Trend
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