Type

Units

Min Area

Price Range

2 BR

1055 sqft

From S$2.7XM

Property Highlights

Two-bedroom, two-bathroom unit spanning 1,055 sqft in a prime central location
Just 290 metres from Telok Ayer MRT Station (DT18), offering seamless connectivity
Listed at S$2,700,000, positioning this property in a competitive mid-tier segment
Established residential enclave within walking distance of financial and cultural districts
Strong fundamentals for both owner-occupiers and astute investment buyers

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Ref: 500114613

Emerald Garden: A Central Haven at 33 Club Street

Located at 33 Club Street, Emerald Garden presents a compelling opportunity within one of Singapore's most culturally vibrant and well-connected precincts. This two-bedroom, two-bathroom condominium unit totals 1,055 square feet of thoughtfully designed residential space, priced at S$2,700,000. The property's proximity to Telok Ayer MRT Station—just 290 metres away, roughly a three-minute walk—positions it as an exceptionally accessible choice for professionals, families, and investors alike.

Location and Connectivity

Club Street has long enjoyed a reputation as a refined residential pocket, characterised by tree-lined pavements, heritage shophouses, and a genuine sense of community. The area bridges the historical charm of the Telok Ayer conservation district with the modern vitality of the central business zone. Being within immediate reach of the DT18 station on the Downtown Line means commutes to Orchard, Marina Bay, and the airport are measured in minutes rather than the protracted journeys typical of outer-ring properties. This transit advantage translates directly into everyday convenience and, critically, into sustained property value appreciation over time.

Space and Layout

At 1,055 square feet, this unit offers a genuine sense of space for a two-bedroom offering in the city core. The accommodation of two full bathrooms reflects contemporary living expectations and provides practical flexibility for household routines. The configuration allows for a dedicated master suite, a secondary bedroom suitable for guests or home-office use, and common areas that do not feel compressed by the building envelope.

Investment Considerations

For investors evaluating rental yield potential, Club Street's catchment is mixed residential-commercial with stable occupier demand. The proximity to the financial district, combined with the area's tourism appeal and weekend foot traffic, supports both long-term tenant placement and seasonal short-let activity. Properties at this price point and location have historically demonstrated rental gross yields in the region of 2.5–3.2 per cent, depending on unit mix and tenant profile. The fact that this is a two-bed rather than a studio or one-bed model widens the tenant pool considerably, as family-oriented renters and young professionals both represent significant demand segments.

Market Positioning

The S$2.7 million price tag places this property at approximately S$2,560–S$2,580 per square foot, a figure that aligns closely with recent transacted values for comparable two-bedroom stock in the Telok Ayer and Raffles Place environs. This pricing discipline suggests the listing reflects current market realities rather than speculative positioning. Buyers considering this acquisition will observe that comparable units in nearby consolidated projects have moved at similar psf metrics over the past six to twelve months, lending credibility to the valuation framework.

Buyer Suitability Across Profiles

This property caters to multiple buyer personas. For high-net-worth individuals seeking a pied-à-terre in the heart of the commercial district, the central location eliminates commute friction. Upgraders transitioning from HDB or smaller private units benefit from the jump in useable space and amenity access. First-time private property buyers who have completed their savings cycle will find that the two-bedroom format provides scope for growing families without overstretching their borrowing capacity. Investors eyeing defensive, rental-backed positions appreciate the MRT proximity and demographic breadth of the catchment.

Financing and Debt Service

At the S$2.7 million price point, Total Debt Service Ratio (TDSR) considerations become material for many buyers. With the prevailing mortgage rates and loan-to-value caps, buyers financing approximately 75–80 per cent of the purchase price (a typical industry position) will draw down roughly S$2,025,000 to S$2,160,000. Monthly mortgage commitments, inclusive of property tax and maintenance contributions, will typically consume between S$8,000 and S$10,500 of gross monthly household income when TDSR is applied at the regulatory 60 per cent threshold. This headroom calculation favours households with combined annual incomes north of S$180,000, reinforcing the property's appeal to established professionals rather than entry-level buyers.

Additional Buyer Costs

Purchasers should factor in Additional Buyer's Stamp Duty (ABSD) if this represents a second or subsequent property acquisition. For Singapore Citizens and Permanent Residents buying their second residential property, ABSD rates commence at 7 per cent of the purchase price and scale upward by proportion for third and further properties. At S$2.7 million, a second-property ABSD liability would total S$189,000, materially affecting the true cost of acquisition. Foreign buyers and corporate entities face higher ABSD schedules; such considerations warrant early clarification with legal counsel before proceeding to offer stage.

Lease Tenure and Long-Term Value

Understanding the lease structure is paramount for any condominium acquisition, particularly in established precincts where lease decay can subtly erode resale multiples. Properties with remaining lease tenures below eighty years historically experience gradual valuation pressure, though properties in prime central locations with sustained tenant demand often appreciate despite lease rundown. PropSG recommends requesting full legal documentation to confirm the unexpired lease term before commitment. A property with seventy-five to eighty-five years remaining presents an acceptable risk profile for owner-occupiers with holding horizons of ten to fifteen years; investors should carefully model refinance and exit scenarios should lease maturity approach during their ownership period.

Neighbourhood Supply and Competitive Dynamics

The Telok Ayer precinct has seen selective new supply in recent years, though the conservation character of the wider district constrains the velocity of new project launches. Competing developments within a ten-minute walk include established residential schemes that have traded at comparable or marginally higher psf rates, depending on floor level, unit orientation, and amenity specification. The lack of imminent large-scale pipeline releases in this micromarket supports the view that resale velocity and price stability remain favourable compared to outer-ring precincts experiencing fresher supply waves.

Conclusion

Emerald Garden at 33 Club Street represents a balanced proposition for buyers valuing location efficiency, transport connectivity, and a proven rental market. The two-bedroom, two-bathroom layout and 1,055-square-foot footprint deliver functional living standards without excess space overhead. Priced at S$2,700,000 and positioned mere metres from Telok Ayer MRT, the property merits serious consideration from both owner-occupiers and portfolio-builders seeking defensible assets in Singapore's perpetually desirable city core.

Frequently Asked Questions

What rental yield can I expect if I purchase Emerald Garden as an investment?

Based on recent transactional data from the Telok Ayer and Raffles Place corridors, two-bedroom units in this price and location bracket have demonstrated gross rental yields ranging from 2.5 to 3.2 per cent per annum. The broader demand catchment—encompassing both long-term tenants from the financial services sector and leisure visitors drawn to the heritage precinct—supports placement velocity. At S$2.7 million, a gross yield of 2.8 per cent translates to approximately S$75,600 in annual rental income; net yields after outgoings typically run 1.5 to 2.0 per cent depending on management efficiency and maintenance cost volatility. Investors should model personal tax exposure and expense ratios carefully before finalising acquisition timelines.

How does the S$2.7M price compare to recent psf sales in the Club Street and Telok Ayer area?

The asking price equates to approximately S$2,560–S$2,580 per square foot, a figure that aligns tightly with transacted values for comparable two-bedroom condominium units recorded across Telok Ayer and nearby precincts over the past twelve months. Recent comparable transactions have settled in the S$2,500–S$2,650 psf band for units of similar vintage, layout, and floor level positioning. The pricing discipline suggests the vendor is responsive to genuine market conditions rather than speculative anchoring. Buyers conducting parallel appraisals through independent valuers will likely receive assessments clustering around the S$2.7 million midpoint, reinforcing the valuation coherence.

What are the ABSD implications if I am buying a second property at this price?

Singapore Citizens and Permanent Residents purchasing their second residential property face an Additional Buyer's Stamp Duty (ABSD) levy of 7 per cent of the purchase price. On a S$2.7 million acquisition, this equates to S$189,000 in ABSD liability, payable upon completion of the transaction. For a third property, the rate rises to 10 per cent (S$270,000 in this case), and for fourth and subsequent properties, 15 per cent applies. Foreign buyers and corporate purchasers face markedly higher ABSD schedules commencing at 20 per cent for foreign individuals and 25 per cent for entities. These costs materially compress your net acquisition economics; engaging a tax advisor early in the purchase journey will clarify whether any exemptions or deferral strategies might apply to your personal circumstances.

What is the lease tenure and what impact will lease decay have on future resale value?

Condominium units at 33 Club Street typically carry freehold or very long-dated lease tenures; confirmation of the exact unexpired lease term should be obtained from the seller's legal representatives prior to offer submission. Properties with remaining lease periods above eighty years experience negligible resale friction, whilst those approaching seventy years may begin to encounter refinancing barriers and gradual valuation discount. For owner-occupiers with holding horizons of ten to twenty years, lease maturity is rarely an acute concern; investors and shorter-duration flippers must carefully model lease-decay scenarios and exit timelines. The property's location in a conservation district and sustained demand from the professional tenant pool mitigate lease-related risks considerably compared to similar-vintage stock in outer precincts.

How does Telok Ayer MRT proximity drive demand and capital appreciation for this property?

Proximity to a major MRT node represents one of the most durable value drivers in Singapore's property market. Telok Ayer station (DT18) connects seamlessly to the Downtown Line, offering direct access to Orchard (shopping and leisure), Marina Bay (financial services and tourism), and Changi Airport (international connectivity) within fifteen minutes. This transport advantage sustains demand across market cycles, insulates the property from negative externalities affecting car-dependent suburbs, and supports valuation resilience during broader market corrections. Properties within three-minute walk distances of major nodes have historically appreciated faster than comparable units requiring five-plus-minute transit times, and maintain tighter bid-ask spreads during disposal windows. The MRT advantage underlies the property's appeal to both owner-occupiers seeking commute efficiency and investors targeting tenant liquidity.

Is this property suitable for first-time private property buyers?

Emerald Garden represents a credible gateway offering for first-time private market entrants who have accumulated sufficient capital or benefited from parental assistance and can comfortably service the S$2.7 million acquisition cost. The two-bedroom layout provides functional scope for growing families without capital inefficiency. However, the absolute price point necessitates household gross incomes exceeding S$180,000 annually to satisfy TDSR metrics and obtain comfortable financing headroom. First-timers with lower income profiles or limited down-payment capacity should model their personal borrowing envelope rigorously; falling short of debt-service thresholds will result in loan rejections regardless of savings discipline. For those meeting the financial requirements, the central location, transport connectivity, and proven rental market represent genuine long-term value propositions that justify stepping into the private market.

What TDSR and financing headroom should I expect at the S$2.7M price point?

At S$2.7 million, assuming a 75 per cent loan-to-value ratio (standard industry practice), buyers will typically finance approximately S$2,025,000. With prevailing mortgage rates hovering near 3.5–4.0 per cent, monthly principal and interest repayments will occupy the S$9,200–S$10,200 band on a twenty-five-year amortisation schedule. Adding property tax, fire insurance, and maintenance contributions will push total monthly debt service to approximately S$10,500–S$11,500. Under the regulatory 60 per cent TDSR ceiling, this structure demands household monthly gross income of at least S$17,500 (S$210,000 annualised). Buyers with combined household incomes between S$180,000 and S$210,000 will operate with constrained headroom and limited borrowing flexibility for additional liabilities; those earning S$240,000+ will enjoy comfortable debt ratios and capacity for portfolio expansion. Mortgage brokers and bank lending officers should be engaged to confirm personal approval ceilings before submitting offers.

How does Emerald Garden compare to nearby competing developments in the same catchment?

Comparable developments within the Club Street, Telok Ayer, and Raffles Place corridors include established condominium projects that have transacted at broadly similar psf valuations, though specific premium or discount will depend on amenity specification, unit vintage, and building age. Properties in newer consolidated schemes may command minor psf premiums (typically 3–7 per cent) due to contemporary finishes and enhanced facilities; conversely, properties in older but well-maintained complexes may trade at slight discounts offset by heritage character and established communities. A systematic comparison of at least three to five competing units within the immediate precinct—examining floor level, orientation, unit layout, and recent sale prices—will allow you to validate whether the Emerald Garden asking price represents fair value or an outlier requiring further investigation. Engaging an independent valuer familiar with the Telok Ayer micromarket will yield confidence in your acquisition decision.

Which unit stacks or floor levels within Emerald Garden offer the best value proposition?

Within condominium complexes, unit stack and floor level significantly influence both pricing and tenant appeal. Lower-floor units (typically storeys two through five) attract price discounts of 5–10 per cent relative to mid-level units, though they benefit from reduced lift transit time and familiarity for elderly or mobility-impaired occupants. Mid-level units (storeys six through twelve, depending on building height) command the tightest pricing and strongest resale velocity, as they optimise the balance between views, privacy, and convenience. Upper-floor units often attract premiums of 5–15 per cent due to enhanced views, natural light, and reduced noise intrusion, though they face slightly extended lift waits and modest insurance cost increments. For investment purposes, mid-level units typically generate the highest per-dollar rental yield due to their broad tenant appeal; owner-occupiers prioritising lifestyle and privacy may justify the upper-floor premium. Requesting disclosure of unit-by-unit asking prices from the sales agent will enable comparative analysis against your personal priorities.

What is the future supply pipeline in the Telok Ayer and Central Business District precinct, and how will it affect property values?

The Telok Ayer district, designated as a conservation area, faces planning constraints that significantly restrict new residential supply. The Urban Redevelopment Authority's conservation mandate and heritage preservation requirements mean that greenfield residential projects are exceptionally rare; most supply additions occur through selective en bloc acquisitions and redevelopment of existing structures, processes that unfold over multi-year horizons. Compared to rapid-supply precincts like Joo Chiat or Tampines, Telok Ayer's constrained pipeline supports valuation stability and rental market resilience. However, broader CBD precincts including Marina Bay and surrounding zones have witnessed material new condominium supply over recent years; this wider supply context may exert gradual psf pressure on Club Street properties if the new inventory captures tenant demand. Nonetheless, the unique combination of heritage appeal, transport proximity, and conservation constraints positions Emerald Garden favourably relative to newer competing stock, particularly for value-conscious buyers seeking an established address with demonstrated rental credentials. Monitoring Urban Redevelopment Authority planning notices and en bloc activity in the wider precinct will provide early signals of material supply disruptions.

Emerald Garden 2-Bed Condo, $2.7M – Club Street, Telok Ayer