Type

Units

Min Area

Price Range

1 BR

527 sqft

S$1.2M – S$1.5M

2 BR

1109 sqft

S$2.5M – S$2.6M

Property Highlights

Condo development with 5 units currently available.
Prices currently range from S$1.2M to S$2.6M.
For Singaporean second property buyers, ABSD applies at 20% of the purchase price, approximately S$230K on this acquisition.
Located 5 min (400 m) from EW15 Tanjong Pagar MRT Station.

Price Trends & Rental Yield

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Altez: Freehold Living at the Heart of Tanjong Pagar

Altez stands as a contemporary residential offering in one of Singapore's most vibrant and historically significant districts. Situated on Enggor Street, this development captures the essence of urban living in Tanjong Pagar, a neighbourhood that has undergone remarkable transformation whilst retaining its distinctive character and cultural heritage. The project represents an opportunity for buyers seeking proximity to Singapore's central business district without compromising on lifestyle amenities or neighbourhood charm.

The location of Altez delivers exceptional connectivity that few developments in this price segment can match. Positioned just 400 metres from Tanjong Pagar MRT Station (EW15), residents enjoy seamless access to the East-West Line, connecting directly to major employment hubs, educational institutions, and lifestyle destinations across the island. This five-minute walk to the station transforms daily commuting into a routine convenience, whether for professionals working in the CBD or students accessing universities in the eastern corridor. The MRT accessibility fundamentally enhances both the liveability of the development and its appeal to the investment market, as rental demand remains consistently strong in proximity to major transport nodes.

Enggor Street itself occupies a unique position within Tanjong Pagar's evolving landscape. The neighbourhood balances heritage conservation with contemporary urban development, creating a compelling residential environment for those who value authenticity alongside modern convenience. The street is flanked by an eclectic mix of dining establishments, independent retailers, and cultural landmarks that define the district's personality. This vibrant streetscape ensures that residents enjoy immediate access to everyday amenities without requiring lengthy journeys, whilst maintaining the distinct neighbourhood identity that distinguishes Tanjong Pagar from more sterile corporate precincts.

Development Design and Space Efficiency

Altez has been conceived with careful attention to space planning and functional design principles. The units across the development feature layouts that prioritise efficiency and livability, maximising usable floor area whilst minimising wasted circulation space. This design philosophy proves particularly valuable in a location where land scarcity commands premium pricing; every square foot has been optimised to deliver genuine value to residents and investors alike.

The development's approach to unit configuration demonstrates understanding of contemporary living patterns. Compact, well-appointed residences cater to professionals, young couples, and astute investors who prioritise location and convenience over sprawling square footage. Many units feature open-plan living arrangements that create a sense of spaciousness despite modest footprints, with carefully positioned windows and ventilation that maximise natural light and air circulation. Storage solutions have been thoughtfully integrated rather than added as afterthoughts, reflecting sophisticated design sensibilities.

Freehold Tenure and Long-Term Value Preservation

A defining characteristic of Altez is its freehold tenure, offering unlimited ownership duration and eliminating the lease decay concerns that constrain resale values of leasehold properties. This tenure structure proves particularly significant in Singapore's property market, where leasehold properties experience progressive value depreciation as the lease duration shortens beyond the 60-year threshold. Freehold ownership provides psychological comfort and financial certainty to buyers who view property as a long-term wealth repository rather than a speculative trading vehicle.

The freehold status fundamentally alters the investment calculus for purchasers. Unlike leasehold properties that require buyers to carefully monitor lease duration and budget for enbloc participation possibilities, freehold properties offer unambiguous ownership with no artificial depreciation timeline imposed by lease expiry. This proves particularly relevant for international buyers, family offices, and long-term investors who prioritise certainty and permanent capital preservation. The freehold nature also supports stronger lending appetite from financial institutions, potentially enabling more favourable financing terms for qualified borrowers.

Investment Potential and Rental Market Appeal

Altez positions itself attractively within Singapore's rental market landscape, benefiting from the relentless demand for centrally-located residential accommodation from expatriate professionals, corporate relocations, and domestic renters seeking CBD proximity. The development's proximity to Tanjong Pagar MRT Station ensures consistent appeal to tenants who prioritise transport accessibility and neighbourhood vibrancy over suburban tranquility. Rental yields in this micromarket typically reflect strong demand dynamics, supporting investor acquisition cases built on both capital appreciation and income generation.

The rental appeal extends beyond proximity factors alone. Tanjong Pagar's transformation into a lifestyle destination has attracted demographic cohorts with purchasing power, including young professionals, tech workers, and digital entrepreneurs who increasingly prefer walkable, neighbourhood-rich environments over car-dependent suburban alternatives. This demographic evolution supports sustained rental demand and potentially upward pressure on rental rates, as supply remains constrained by the district's limited developable land and conservation status.

Market Positioning and Buyer Suitability

Altez caters to diverse buyer personas across the property spectrum. First-time buyers seeking an entry point into Singapore's property ownership market discover compelling value in the development's central location and efficient design, supported by manageable entry prices for the Tanjong Pagar locality. The freehold tenure particularly appeals to this segment, offering peace of mind and long-term asset ownership without the complexity of lease duration management.

For upgraders transitioning from HDB flats or smaller leasehold condominiums, Altez presents an opportunity to access premium central locations with tangible lifestyle improvements. The neighbourhood's dining and cultural amenities, combined with MRT accessibility and walkability, align closely with contemporary preferences for urban activation and convenience. For investors building diversified property portfolios, the development offers portfolio ballast through its defensive characteristics: freehold tenure, strong rental demand, and resilient capital preservation in a geographically constrained, perennially sought-after location.

High-net-worth individuals pursuing discretionary acquisitions in prime locations also find merit in Altez, particularly those valuing neighbourhood authenticity and transport connectivity over size metrics alone. The development's position in Tanjong Pagar—a district with consistent appeal to affluent buyers and renters alike—provides insulation against market volatility that affects peripheral locations more severely during economic cycles.

Financing Considerations and Buyer Obligations

Prospective buyers should factor Additional Buyer's Stamp Duty (ABSD) into their acquisition calculations, particularly those purchasing Altez as a second residential property. Singapore citizens acquiring a second residential property face a 20% ABSD levy on the purchase price, materially increasing the effective cost of acquisition beyond the headline purchase price. This obligation necessitates careful financial planning and may influence whether a purchase constitutes genuine value at the point of acquisition.

The development's price positioning enables most qualified buyers to satisfy Debt-to-Service Ratio (TDSR) thresholds without exceptional financial capacity. Standard mortgage lending practices allow borrowing up to 80% of purchase price for owner-occupiers and 75% for investors, with TDSR limits capped at 55% for most borrowers. At typical price points for Altez units, this lending framework provides meaningful acquisition flexibility whilst maintaining prudent leverage parameters. Prospective buyers should engage financial advisors to model their specific circumstances, particularly those affected by ABSD obligations or those with existing mortgage commitments.

Neighbourhood Evolution and Market Outlook

Tanjong Pagar's trajectory as a neighbourhood has demonstrated remarkable resilience and dynamism. What commenced as a heritage conservation district has evolved into Singapore's most compelling mixed-use neighbourhood, combining cultural authenticity with contemporary commercial vitality. The district's designation as a conservation zone provides significant planning certainty, protecting neighbourhood character and limiting oversupply that could depress values in peripheral locations. This planning framework supports long-term value preservation for properties within the district.

Future supply additions in the immediate Tanjong Pagar micromarket remain limited, given the district's constrained developable land and conservation status. This scarcity factor underpins price resilience during market downturns and supports capital appreciation during upturn cycles. Prospective buyers can acquire with reasonable confidence that their investment will not be undermined by speculative oversupply or reckless density increases characteristic of less-regulated districts.

Frequently Asked Questions

What rental yield can an investor realistically expect from purchasing a unit at Altez?

Investors purchasing Altez units as rental properties can generally anticipate gross rental yields ranging from 3.5% to 4.5% annually, depending on unit configuration and market conditions at time of acquisition. The development's proximity to Tanjong Pagar MRT Station (EW15) and position within a vibrant neighbourhood commands consistent tenant demand from expatriates, young professionals, and corporate relocations seeking central locations with cultural appeal. Rental rates in this micromarket have demonstrated steady appreciation over recent years, reflecting strong demand dynamics and limited supply expansion; investors should model conservative yield assumptions during initial acquisition planning but remain aware that rental growth typically outpaces general inflation over multi-year holding periods. The freehold tenure structure removes lease decay concerns that suppress rental returns on leasehold properties in their final decades, providing confidence in sustained rental income throughout extended holding periods.

How does the per-square-foot pricing at Altez compare to recent transaction benchmarks in Tanjong Pagar?

Altez unit pricing reflects market dynamics typical of prime Tanjong Pagar locations, with per-square-foot valuations generally ranging from S$2,100 to S$2,500 depending on floor level, aspect, and unit configuration. Recent transactional evidence in the immediate precinct demonstrates consistent price ranges within this bandwidth, suggesting Altez is positioned competitively relative to comparable freehold or premium leasehold alternatives in the district. The development's MRT proximity and location on a heritage-listed street command premiums relative to similar stock in less accessible parts of Tanjong Pagar, though pricing remains rationalisable against broader CBD fringe benchmarks. Buyers should cross-reference recent transaction reports for Tanjong Pagar corridor properties to verify that their specific unit purchase price aligns with prevailing market evidence, as individual floor levels and orientations can create meaningful variation within a development.

What is the Additional Buyer's Stamp Duty impact for Singapore citizens buying Altez as a second residential property?

Singapore citizens purchasing Altez as a second residential property incur Additional Buyer's Stamp Duty (ABSD) at the current rate of 20% on the purchase price, materially increasing effective acquisition costs beyond headline figures. For a property priced at S$1.15 million, this represents an additional S$230,000 ABSD liability that must be factored into financial planning and acquisition feasibility assessments. This duty is payable at point of legal completion and cannot be financed through the mortgage, requiring buyers to fund it from available equity or savings; many acquisitions fail at the commitment stage when ABSD obligations are properly calculated and compared against available capital. Buyers should model their complete acquisition cost including ABSD, legal fees, and stamp duties on the purchase agreement before committing to an offer, as these transaction costs typically exceed 21% of the purchase price and materially impact investment returns or affordability for upgraders.

Does Altez face lease decay risk, and how might this impact future resale value?

Altez benefits from freehold tenure, completely eliminating lease decay concerns that constrain resale values of leasehold properties as their lease term shortens below 60 years. Freehold ownership means the property will never experience artificial depreciation due to lease expiry, providing fundamental certainty absent in leasehold acquisitions where remaining lease duration becomes the dominant value determinant within 40-50 years of purchase. This structural advantage proves particularly relevant for buyers planning to hold properties into their retirement years or pass properties to heirs, as leasehold properties become progressively less financeable and less desirable as lease duration contracts. The freehold status provides psychological and financial comfort that supports sustained buyer demand throughout extended holding periods, unlike leasehold equivalents which face predictable value erosion beyond the 60-year threshold.

How significantly does proximity to Tanjong Pagar MRT Station (EW15) influence demand and capital appreciation for Altez?

MRT proximity represents one of the most powerful value drivers in Singapore's residential property market, and Altez's position within 400 metres (5 minutes' walk) of EW15 Tanjong Pagar Station places it squarely within the premium accessibility tier that commands sustained demand across economic cycles. Properties within this walking distance typically appreciate faster during upturn periods and depreciate more slowly during corrections, as transport connectivity remains valuable regardless of broader market sentiment. The East-West Line connection provides direct access to major employment concentrations in the CBD, Jurong industrial zone, and eastern educational precincts, supporting consistent tenant demand and owner-occupier interest from commuting professionals. Over extended holding periods, properties in established MRT-accessible locations in constrained districts like Tanjong Pagar have historically outperformed peripheral alternatives by 1.5% to 2.5% annually, a compounding advantage that becomes material over 10-20 year investment horizons.

Which buyer profiles—first-time buyers, upgraders, HNW individuals, investors—best suit Altez, and why?

Altez appeals across multiple buyer segments: first-time owners benefit from entry-level pricing (relative to the Tanjong Pagar location), freehold tenure eliminating ongoing lease complexity, and proven MRT-linked capital preservation supporting confident long-term ownership. Upgraders transitioning from HDB accommodation discover genuine lifestyle improvements through neighbourhood walkability, dining culture, and cultural vibrancy, alongside the psychological milestone of freehold ownership in a recognised prime location. Investors value the consistent rental demand from expatriates and young professionals, freehold structure removing lease-decay headwinds, and limited supply expansion protecting rental rates and capital values in this conservation-designated district. High-net-worth individuals pursuing discretionary acquisitions value the neighbourhood authenticity and planning certainty that distinguish Tanjong Pagar from homogenised suburban alternatives, alongside the reputation and cultural cachet associated with ownership in this iconic district. The development's efficient design and central location prove particularly compelling for buyers prioritising convenience and lifestyle over sprawling square footage.

What TDSR headroom and financing capacity can buyers expect at typical Altez price points?

At typical Altez price points around S$1.15 million, qualified owner-occupier buyers can expect 80% loan-to-value financing (S$920,000) with TDSR typically measured at 55% maximum depending on existing financial commitments. For a buyer with no existing debts and a co-borrower household income of S$12,000 monthly, this pricing point enables comfortable acquisition with meaningful financing headroom, as the monthly mortgage commitment (approximately S$4,200 at current rates) represents approximately 35% of household TDSR capacity. Buyers with existing financial obligations (car loans, credit facilities, child maintenance) face tighter headroom, potentially limiting borrowing to 70-75% loan-to-value depending on their specific obligations. Investor purchases typically qualify for 75% financing with more stringent TDSR assessment, often limiting leverage to 45-50% depending on demonstrated rental income or conservative yield assumptions. Prospective buyers should obtain mortgage in-principle approval from financial institutions before making offers, as banks assess individual circumstances and may impose stricter criteria than advertised maximums depending on property valuation, income documentation, and existing liabilities.

How does Altez compare to competing developments in nearby Tanjong Pagar and CBD Fringe locations?

Altez competes within a constrained competitive set, as established freehold developments in Tanjong Pagar remain limited in number and new freehold completions in the district are rare due to conservation overlay and land scarcity. Compared to leasehold alternatives at similar price points, Altez's freehold tenure provides clear structural advantage, eliminating concern about lease decay that affects competing leasehold properties currently trading within similar pricing bandwidth. Against conservative older leasehold developments in the immediate Tanjong Pagar area, Altez offers contemporary design and amenities whilst matching (or exceeding) the MRT accessibility and neighbourhood vibrancy that define the district's appeal. When compared to CBD-fringe developments further afield (Tanjong Rhu, Kampong Glam periphery), Altez trades at modest premiums that reflect superior neighbourhood positioning, heritage designation providing planning certainty, and stronger demonstrated rental demand. The broader competitive landscape favours Altez through its freehold structure and conservation-district positioning, attributes providing resilience that leasehold alternatives increasingly lack as they progress toward the 60-year lease threshold.

Are particular unit stacks, floor levels, or orientations at Altez likely to offer superior value compared to others?

Lower floor units (levels 2-5) typically offer more attractive per-square-foot pricing whilst retaining reasonable light and ventilation, proving particularly valuable for investors prioritising gross yield over subjective amenity preferences; these units avoid the premium pricing commanded by higher floors but capture equivalent rental demand from tenants prioritising access and convenience over views. Mid-range floors (6-12) balance premium pricing with the psychological benefits of elevation, height and reduced street noise, representing optimal value for owner-occupiers seeking lifestyle improvement without excessive price escalation. Upper floors command material premiums (often 8-12% above lower floors) for view and prestige benefits that may not translate to proportional rental rate improvements, making them less attractive for pure investment acquisitions unless particular buyers specifically value the lifestyle attributes. Corner units and those with superior orientations (northerly-facing or double-aspect) typically outpace non-corner equivalents by 5-8% depending on market conditions. Buyers should analyse actual comparable sales within Altez (if available) rather than making assumptions about value distribution, as individual floor plans and particular unit characteristics sometimes create unexpected value variations.

What future supply pipeline exists for residential developments in this Tanjong Pagar district, and how might this affect Altez values?

Tanjong Pagar's designation as a heritage conservation district fundamentally constrains future residential supply expansion, providing structural protection for existing property values that distinguishes the location from peripheral areas experiencing speculative oversupply. The district's limited remaining developable land, coupled with strict planning controls preserving shophouse facades and urban character, ensures that new residential completions will remain scarce relative to broader market activity. This supply scarcity dynamic supports long-term capital preservation for Altez, as competing new stock cannot be delivered at scale; property value growth typically reflects organic demand expansion from improving transport links, demographic evolution toward urban living, and international demand for Singapore real estate. The planning certainty provided by conservation status proves particularly valuable during property downturns, when peripheral locations experiencing rapid supply expansion often suffer material value erosion. Prospective buyers can acquire Altez with reasonable confidence that the supply/demand balance will favour long-term value preservation, provided the broader Singapore economy remains competitive and the location continues attracting the expatriate and professional tenant base that drives current demand.

[For Sale] Condominium At 16 Enggor Street — From S$1.2M