Type

Units

Min Area

Price Range

1 BR

441 sqft

From S$755Xk

2 BR

818 sqft

From S$1.3XM

Property Highlights

2-bedroom, 2-bathroom unit at The Verve spanning 818 sqft in central Toa Payoh
Priced at S$1,300,000 with convenient 13-minute walk to NS19 Toa Payoh MRT Station
Well-positioned for both owner-occupiers and investors seeking rental yield in a mature estate
Strategic location near amenities, transport links, and established residential infrastructure
Competitive positioning in the mid-range condo segment with good space utilisation

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Ref: 60053281

The Verve: A Contemporary Condo Investment in Toa Payoh's Heart

The Verve represents a compelling opportunity for those seeking a well-located residential property in one of Singapore's most established neighbourhoods. Situated at 23 Jalan Rajah Road, this two-bedroom, two-bathroom condominium spans 818 square feet and is offered at S$1,300,000. The development's positioning within Toa Payoh places it within easy reach of the North-South Line, with NS19 Toa Payoh MRT Station lying approximately 1.08 kilometres away—a manageable 13-minute commute on foot.

Toa Payoh has evolved into one of Singapore's most mature and sought-after residential districts. The estate benefits from decades of infrastructure investment, creating a well-rounded community fabric characterised by established shopping centres, food courts, recreational facilities, and healthcare services. For buyers evaluating residential options in this part of the island, The Verve offers the dual appeal of established neighbourhood credentials combined with modern condominium living standards.

Location and Connectivity

Proximity to public transport is a defining strength of this property. The North-South Line serves as a major arterial route connecting Toa Payoh to the central business district and beyond. A 13-minute walk to NS19 Toa Payoh MRT Station positions residents well for commuting to employment centres across the island. The station itself is integrated with Toa Payoh Shopping Centre, creating a transit node rich with retail, dining, and service options. For those reliant on public transport or valuing reduced car dependency, this accessibility proves invaluable.

Beyond the MRT, Toa Payoh's road network is comprehensively developed. Jalan Rajah Road itself is a well-established thoroughfare with straightforward access to major corridors including Pan Island Expressway and Central Expressway links. This transport layering—combining rail, road, and local bus services—ensures that residents maintain flexibility in their commuting options whilst benefit from reduced travel friction to most parts of the island.

Unit Specifications and Layout

At 818 square feet, this two-bedroom configuration represents an efficient use of space typical of modern condominium design in the mid-market segment. The provision of two bathrooms caters to the practical needs of household members, reducing morning congestion and improving daily living comfort. The floor plate dimensions suggest a thoughtfully proportioned layout, moving away from the exceedingly compact footprints associated with entry-level properties whilst remaining distinct from sprawling penthouses.

For upgraders transitioning from smaller dwellings—such as three-room HDB flats—The Verve's footprint delivers a genuine uplift in personal space and amenity quality without requiring a jump to the luxury condominium market. Similarly, for investors seeking to capture rental demand, the two-bedroom specification aligns well with tenant preferences, particularly among young professionals and small families seeking private, well-appointed residential accommodation.

Investment Potential and Rental Dynamics

The S$1,300,000 price point positions The Verve within reach of a broad investor constituency. Toa Payoh's long-established status as a residential hub ensures consistent rental demand, particularly given the vicinity to employment nodes and the convenience of the MRT station. Properties in this location and configuration typically achieve respectable gross rental yields, particularly when occupied by tenants attracted to the neighbourhood's maturity, accessibility, and amenity density.

The investor calculus here centres on capital appreciation trajectory and yield sustainability. Toa Payoh has demonstrated resilience through multiple property cycles, with demand anchored in its role as a primary residential choice for working-age Singaporeans. The proximity to the MRT station enhances this appeal, as transport accessibility consistently underpins property valuations in the Singapore context. For those building a diversified residential investment portfolio, an acquisition in this location and price range offers a degree of stability that can balance portfolios containing higher-risk growth assets.

Market Context and Comparative Positioning

Within the Toa Payoh condominium market, this property competes in a segment characterised by established developments and maturing stock. The quantum of S$1,300,000 for an 818-square-foot two-bedroom places the per-square-foot valuation at approximately S$1,589 psf. This positioning reflects current market equilibrium in the area, where properties blend the benefits of established neighbourhoods with the amenity offerings of modern residential schemes.

Buyers evaluating The Verve should consider comparable transactions within the immediate vicinity and across the wider Toa Payoh district to calibrate value. Properties at similar price points tend to cluster around mature estates with strong MRT connectivity and proven tenant demand. This market segment has historically shown resilience, appealing to both owner-occupiers and investors with medium- to longer-term holding horizons who prioritise accessibility and community maturity over cutting-edge newness.

Buyer Suitability and Purchase Considerations

The Verve caters to multiple buyer profiles. First-time condominium buyers appreciate the mature neighbourhood context, established service networks, and the absence of speculative pricing volatility. Owner-occupiers upgrading from HDB flats find the space and amenities a meaningful step up whilst avoiding the premium attached to newer projects in less mature areas. Investors value the consistent demand profile and the rental economics available at this price point and location.

For those contemplating purchase, several considerations merit examination. Buyers should verify current lease tenure and remaining lease duration, as Singapore's leasehold properties face eventual lease expiry—a factor influencing long-term capital preservation. The property's position within its development block and exposure (floor level, orientation) affects natural light and thermal comfort. Unit positioning relative to lifts, common areas, and noise sources also warrants site inspection.

Second-property buyers should account for Additional Buyer's Stamp Duty implications. At this price tier, ABSD liability shapes the true acquisition cost and influences investment return profiles. A dedicated conveyancing professional can model these tax impacts in the context of individual circumstances.

Financing and Affordability Dynamics

The S$1,300,000 price point aligns with conventional bank lending parameters. Most financial institutions offer residential mortgage products covering up to 75–80% of property value for owner-occupiers, with Debt-to-Service Ratio thresholds typically set at 60% of gross monthly household income. This translates to accessible financing for households with combined annual incomes in the range of approximately S$180,000 and above, accounting for other financial obligations.

Prospective buyers should engage their lending banks early in the acquisition process to understand precise Loan-to-Value ratios, interest rate offerings, and loan tenure options available to them. Given prevailing interest rate environments and economic conditions, the true cost of borrowing shapes the affordability equation alongside the headline purchase price.

Future Considerations and District Trajectory

Toa Payoh's future supply pipeline and development trajectory influence long-term capital appreciation potential. The estate is substantially built-out, with limited scope for large-scale new residential projects within the immediate precinct. This supply constraint—a natural consequence of the district's maturity—generally supports price stability and prevents oversupply-induced downward pressure. New developments in Toa Payoh tend to be relatively modest in scale, focusing on site intensification rather than wholesale area transformation.

The district's role as a major HDB concentration area creates a consistent underlying demand base. Public housing residents seeking to transition to private residential ownership often target nearby condominium developments, sustaining a steady stream of first-time upgraders. This demographic renewal ensures that neighbourhoods like Toa Payoh retain residential vibrancy across generational transitions.

Conclusion

The Verve at 23 Jalan Rajah Road presents a well-situated residential opportunity priced at S$1,300,000. The two-bedroom, two-bathroom configuration spanning 818 square feet occupies a sweet spot between space, affordability, and amenity quality. Proximity to NS19 Toa Payoh MRT Station and the established neighbourhood context combine to create appeal for diverse buyer constituencies. Whether approached as an owner-occupier upgrade or an investment asset, this property merits consideration within the context of current market conditions and individual investment objectives.

Frequently Asked Questions

What gross rental yield can I expect from The Verve at S$1,300,000?

Properties at The Verve's location and specification typically command monthly rents between S$3,000–S$3,500 for a two-bedroom unit, translating to gross annual yields of approximately 2.8–3.2%. This yield accounts for the property's proximity to the MRT station and the established Toa Payoh neighbourhood, which attract consistent tenant demand from young professionals and small families. Net yields after accounting for maintenance costs, property tax, and management fees typically fall in the 2.0–2.5% range, which is competitive for a property in a mature, low-volatility location. Investors should conduct localised comparable lettings analysis with their agents to validate current market rents, as yields fluctuate with broad Singapore rental market conditions and tenant demand elasticity.

How does the S$1.589 psf price compare to recent Toa Payoh transactions?

At approximately S$1,589 per square foot, The Verve sits within the mid-band of current Toa Payoh condominium valuations. Recent market transactions for comparable two-bedroom units in mature estates within the district have ranged from S$1,450–S$1,700 psf, depending on unit location within blocks, remaining lease tenure, and amenity offerings. Properties with premium MRT proximity or those in developments completed within the past ten years tend towards the higher end of this range, whilst older stock or units with less convenient positioning settle lower. The quoted price reflects fair market value calibrated against current supply-demand equilibrium in Toa Payoh's established condominium segment.

What are the ABSD implications if I purchase The Verve as a second property?

Additional Buyer's Stamp Duty for second-property purchases on residential properties priced above S$500,000 is levied at 15% of the purchase price, applying to the entire value without a step-up structure. For The Verve at S$1,300,000, the ABSD liability amounts to S$195,000, payable upon completion of the property transaction. This additional cost materially affects the true acquisition expense and should be incorporated into investment return calculations, particularly when modelling gross-to-net yield impacts. Buyers contemplating The Verve as an investment asset should seek professional tax and conveyancing advice to understand the full capital and cash-flow implications, and to explore whether any ABSD relief provisions apply to their personal circumstances.

What is the lease decay risk and resale impact for The Verve?

The Verve's leasehold tenure structure means that residual lease length is a critical factor in long-term capital preservation. Properties with leases under 70 years remaining face increasing difficulty in securing bank financing, as most lenders impose minimum lease tenure requirements at loan completion. As remaining lease decays, property valuations typically decline at an accelerating rate below the 70-year threshold, with most Singaporean lenders reluctant to advance mortgages on properties with fewer than 60 years remaining. Prior to purchase, verify the exact remaining lease tenure registered against the property title; for newly launched developments or relatively recent completions in established estates like Toa Payoh, lease duration is typically 99 years from the initial launch date. Understanding this trajectory helps buyers assess whether their intended holding period aligns with lease decay curves and resale market expectations.

How does proximity to NS19 Toa Payoh MRT Station affect property demand and capital appreciation?

MRT proximity is one of Singapore's most durable demand anchors, directly correlating with property valuations and capital appreciation potential. Properties within walking distance—typically defined as under 800 metres or roughly 10 minutes on foot—command measurable premiums relative to properties beyond convenient MRT access. At 1.08 kilometres from NS19, The Verve occupies an accessible 13-minute walk, placing it within the premium band for MRT-proximate properties. This accessibility sustains consistent rental demand from tenants seeking to minimise commuting friction, and historically supports long-term capital appreciation at rates aligned with or exceeding broader Singapore residential market movements. The North-South Line's centrality in the island's transport network further enhances this dynamic, as it serves major employment clusters and minimises commuting time variability across economic cycles.

Is The Verve suitable for first-time condo buyers, upgraders, or investor profiles?

The Verve accommodates all three buyer personas, though with differing value propositions for each. First-time condo buyers appreciate the mature neighbourhood ecosystem, established service infrastructure, and proven rental demand, which collectively reduce execution risk on their initial foray into private residential ownership. Upgraders transitioning from HDB flats find The Verve's 818-square-foot two-bedroom configuration and dual-bathroom provision a meaningful quality-of-life step up, without the premium pricing attached to newer developments in emerging areas. Investors value Toa Payoh's demographic resilience, the MRT station's accessibility driving tenant demand, and the property's competitive rental yield profile relative to broader Singapore investment returns. The price point of S$1,300,000 is accessible to upgraders with established HDB equity, whilst remaining within reach of investor portfolios seeking mid-market yield generation without excessive leverage.

What TDSR headroom exists for mortgage financing at this S$1.3M price point?

Assuming an 80% Loan-to-Value mortgage—the typical ceiling for owner-occupied residential properties—the loan quantum would be approximately S$1,040,000. Over a standard 25-year tenure at prevailing interest rates around 3.5%, monthly servicing costs approach S$5,900. To comply with the Debt-to-Service Ratio ceiling of 60%, combined household gross monthly income must exceed approximately S$9,850, translating to annual household income of roughly S$118,200 or above. This threshold accounts for no other financial obligations; buyers with car loans, credit card facilities, or other debt servicing commitments require proportionately higher household income to maintain compliant TDSR ratios. Prospective purchasers should model their specific circumstances with their lending bank, as individual assessments of financial capacity may differ from these broad parameters.

How does The Verve compare to competing developments in Toa Payoh and adjacent areas?

The Verve competes against several established condominium developments within Toa Payoh and nearby Novena, including properties such as Toa Payoh Garden, City View, and newer developments at similar price tiers. Relative positioning hinges on specific unit location within these developments, remaining lease tenure, age-related wear and maintenance profiles, and individual amenity offerings. Properties completed within the past ten years typically command premium valuations, whilst slightly older stock may offer marginally better value if well-maintained and located proximate to transport. Systematic comparison requires direct inspection of competing units, verification of actual rental achievement and turnover rates, and assessment of each development's reserve fund status and management quality. The Verve's value case strengthens when proximity to the MRT station and neighbourhood accessibility take precedence in buyer priorities.

Are higher or lower floor units at The Verve likely to offer better investment value?

Within typical condominium developments, pricing variation by floor level is often modest once unit type and size are held constant, though market preferences do introduce nuance. Lower-level units (ground to third floor) often appeal to buyers with mobility considerations and those seeking reduced elevator wait times, though they may experience slightly reduced natural light and may face marginally higher noise exposure from common areas and external traffic. Mid-to-high floor units command modest premiums, particularly where they afford views across Toa Payoh or towards more distant horizons, and benefit from superior privacy and light. For investment purposes, mid-range floors (approximately 5–15 storeys) often represent optimal value, balancing rental appeal with pricing efficiency. Unit orientation and position relative to lift lobbies also influences desirability; units with direct access and minimal long corridors command stronger tenant demand. Prospective buyers should conduct on-site visits to assess these factors directly.

What future supply pipeline risks exist in Toa Payoh that could affect The Verve's capital appreciation?

Toa Payoh is substantially built-out from a master planning perspective, with limited parcels available for large-scale new residential development. The district's future supply is constrained primarily to site intensification and en bloc redevelopment of ageing properties—dynamics that unfold over extended timeframes rather than creating sudden market oversupply. The HDB town's integration within the wider Toa Payoh community actually provides a stabilising mechanism, as public housing residents seeking private residential upgrades create consistent underlying demand in nearby condominium developments. Strategic planning initiatives to enhance district amenities (new shopping venues, healthcare facilities) tend to reinforce rather than undermine property valuations by increasing neighbourhood appeal. Longer-term risks centre on economic cyclicality, interest rate movements, and potential shifts in demographic demand patterns rather than supply-side flooding—factors affecting all Singapore properties rather than being specific to Toa Payoh. Investors should monitor Urban Redevelopment Authority planning releases and Ministry of National Development policy signals for any changes in district zoning or development parameters.

The Verve, Toa Payoh: 2-Bed Condo S$1.3M Near MRT