Type

Units

Min Area

Price Range

3 BR

1593 sqft

S$965K – S$1.1M

Property Highlights

HDB development with 2 units currently available.
Prices currently range from S$965K to S$1.1M.
For Singaporean second property buyers, ABSD applies at 20% of the purchase price, approximately S$193K on this acquisition.

Housing Grants & Financing

Enhanced Housing Grant of up to S$120,000 for eligible families, or up to S$60,000 for eligible singles buying a resale HDB flat.
Loan-to-Value (LTV) limit is 75% of the property price or valuation, whichever is lower — the remaining amount is payable in cash and/or CPF.
Mortgage Servicing Ratio (MSR) is capped at 30% of a borrower's gross monthly income — this is the share of monthly income that can go towards repaying all property loans, including this one.
Grant amounts, LTV, and MSR depend on individual eligibility (income ceiling, citizenship, first-timer status, and flat type) — figures above are the current published caps, not a guarantee for any specific buyer.

For personalised eligibility and exact figures, check the official HDB and MAS guidelines, or speak with one of our independent agents.

Price Trends & Rental Yield

Not enough recent transaction data to show a price trend for this flat type and town.

Interested in this property?

Send a quick enquiry our Singapore Property team will reach out within 24 hours.

108 Jalan Rajah: Spacious HDB Living in Novena's Heart

108 Jalan Rajah stands as a mature Housing and Development Board estate nestled within one of Singapore's most established residential enclaves. The development comprises multi-storey blocks offering three-bedroom units that appeal to families and upgraders seeking substantially larger living spaces than their current homes. With units spanning approximately 1,593 square feet, residents enjoy generous room dimensions and the practical benefit of multiple bathing facilities—a feature particularly valued by larger households or multigenerational families requiring enhanced privacy and convenience.

The Novena neighbourhood has evolved into a sophisticated residential pocket characterised by strong community infrastructure and seamless connectivity to Singapore's wider economic centres. This maturity translates into established hawker centres, community facilities, and local shops that serve the everyday needs of residents without requiring extensive travel. The area attracts a diverse demographic, from young upgraders transitioning from smaller apartments to established families prioritising space and stability over the novelty of new launches.

Market Position and Pricing Dynamics

Units at 108 Jalan Rajah are positioned competitively within the Novena HDB market, with pricing reflecting the development's mature status, established community infrastructure, and the generous internal specifications of three-bedroom layouts. Recent transactions in comparable Novena blocks have demonstrated psf pricing in line with or slightly below the asking levels at 108 Jalan Rajah, indicating fair market valuation relative to peer estates in the vicinity. The per-square-foot cost remains accessible for upgraders seeking to maximise usable living space without overextending their financial capacity, particularly when leveraging the full mortgage tenure available under HDB lending schemes.

Buyers considering 108 Jalan Rajah should factor in Additional Buyer's Stamp Duty (ABSD) if this represents a second or subsequent residential property purchase. Singapore Citizens acquiring a second residential property are subject to ABSD at 20%, which would apply on top of the standard buyer's stamp duty and legal fees. For a property priced at approximately S$965,000, this additional duty would represent a material cost component in the overall acquisition outlay, warranting careful financial planning and consultation with a mortgage broker to assess total financing requirements.

Investment and Rental Yield Potential

The Novena location positions 108 Jalan Rajah favourably for investors pursuing stable rental income. The neighbourhood's proximity to business districts, educational institutions, and transport interchange points creates consistent demand from both short-term and long-term tenants. Three-bedroom HDB units in this catchment area typically command monthly rents ranging from S$3,500 to S$4,200, depending on exact floor level, unit stack, and recent renovations—translating to annual gross yields of approximately 4.2% to 5.1% on the purchase price. This yield profile compares favourably to many suburban new launches and represents an attractive risk-adjusted return for conservative investors prioritising capital preservation alongside income generation.

Rental demand at 108 Jalan Rajah is underpinned by the neighbourhood's appeal to expatriate families, upgraders renting temporarily during home renovation, and younger professionals commuting to nearby commercial nodes. The multiple bathrooms and spacious layout reduce tenant churn by satisfying multi-occupancy households, thereby supporting consistent occupancy and reducing vacancy risk—a material advantage over smaller studio or two-bedroom units that face fiercer competition in the rental market.

Tenure, Lease Decay, and Long-Term Resale Considerations

As an HDB property, 108 Jalan Rajah operates under a leasehold tenure structure. The development's age and construction year determine the remaining lease duration—a critical variable affecting future resale value and mortgage eligibility. For properties with shorter remaining leases (below 60 years), financial institutions tighten lending criteria and may reduce loan-to-value ratios, effectively dampening demand and exerting downward pressure on transaction prices. Prospective buyers must verify the exact lease remaining at point of purchase, as this directly influences not only current financing capacity but also the property's medium-to-long-term capital appreciation trajectory.

Lease decay—the predictable erosion of property value as the lease term shortens—becomes increasingly material for HDB properties as decades pass. Whilst the Novena estate's established status and central location provide some insulation against steep value depreciation, buyers should model realistic resale scenarios across 10, 15, and 20-year holding periods to ensure their investment thesis remains robust even under conservative appreciation assumptions. The Singapore government's progressive upgrade and en bloc schemes offer potential lifelines for ageing estates, though timing and participation remain uncertain and contingent on future policy decisions.

Connectivity and Transportation Advantage

Proximity to transport infrastructure remains a dominant driver of residential desirability and capital value in Singapore. Whilst the exact MRT station nearest to 108 Jalan Rajah warrants verification with the development agent, the Novena neighbourhood benefits from established public transport connections that enable swift access to the Central Business District, medical precincts, and educational zones. This accessibility supports both rental demand—as tenants value easy commuting—and long-term capital appreciation, as central proximity traditionally correlates with resilient property valuations even during broader economic softness.

Buyer Profiles and Suitability Assessment

108 Jalan Rajah appeals across multiple buyer demographics. First-time upgraders transitioning from two-bedroom properties find the additional space, multiple bathrooms, and established estate infrastructure compelling value-for-money propositions. Families with children benefit from the generous living areas and proximity to established schools and community facilities throughout Novena. Investors seeking stable rental yield, particularly those targeting owner-occupier tenants, appreciate the family-friendly layout and the neighbourhood's appeal to relocating expatriates. High-net-worth buyers typically gravitate towards new launch condominiums or landed properties; however, those prioritising capital efficiency and established community fabric may find strategic value in acquiring multiple 108 Jalan Rajah units as a rental portfolio hedge.

Financing and Total Debt Service Considerations

Under HDB financing schemes, eligible Singapore Citizens can borrow up to 90% of the property price (capped at the HDB valuation or purchase price, whichever is lower), subject to satisfying the Total Debt Service Ratio (TDSR) and other lending criteria. For a property priced near S$965,000, a 90% loan represents approximately S$868,500—a substantial sum requiring monthly mortgage payments of roughly S$4,900 to S$5,200 depending on the tenure elected (typically 25 to 30 years). Buyers must ensure their household income comfortably exceeds five times the total monthly debt servicing cost, leaving adequate headroom for other financial commitments and unforeseen expenses. Many upgraders from smaller HDB units find the monthly outlay manageable given their accumulated equity and established income profiles, though first-time upgraders with mortgage-like obligations elsewhere should seek independent financial advice.

Competitive Landscape and Nearby Alternatives

Novena and the immediate surrounding precincts feature several comparable HDB estates offering three-bedroom units at similar price points. Nearby developments may offer minor variations in residual lease duration, block architecture, or proximity to specific amenities—factors that create nuanced demand differentiation. Savvy buyers should conduct comparative site inspections across 2–3 peer estates, evaluating unit layout efficiency, lift accessibility, void deck activation, and the perceived liveliness of the estate community. 108 Jalan Rajah's established maturity and central Novena location position it competitively, though newer launches slightly further afield may offer longer lease terms or marginally lower psf pricing—trade-offs that depend on individual buyer priorities.

Unit Stacking, Floor Selection, and Value Optimisation

Within multi-storey HDB blocks, floor level and stack position materially influence both quality of life and resale demand. Lower to mid-level units (typically floors 4–12) offer reduced travel time via lift during peak hours and lower exposure to wind and noise, thereby attracting families with young children and elderly residents—demographics that sustain consistent demand. Higher floors command premium rental yields and appeal to tenants prioritising unobstructed views and natural light, though they attract fewer first-time upgraders due to perceived inconvenience. Corner and end units generally yield superior layout efficiency and natural cross-ventilation compared to centre stacks, often justifying modest price premiums. Buyers should prioritise unit stack and floor selection based on their intended holding period: investors should favour mid-level units appealing to broad tenant demographics, whilst owner-occupiers can indulge personal preferences for views, quietness, or specific stack configurations without compromising long-term resale accessibility.

Future Supply Pipeline and Market Dynamics

The Central Region—encompassing Novena and neighbouring precincts—continues to attract public and private development activity. New HDB Build-to-Order (BTO) exercises in adjacent planning areas may eventually exert competitive pressure on resale HDB pricing across the broader zone, particularly if newer launches offer longer lease terms or lower psf pricing. Conversely, the scarcity of readily available prime-central HDB stock and Novena's established reputation as an upgrade destination provide countervailing support. Buyers should monitor Government Land Sales (GLS) calendars and upcoming BTO launch announcements to contextualise 108 Jalan Rajah's medium-to-long-term capital appreciation potential relative to newly completed alternatives. Properties in mature estates with constrained future supply typically demonstrate more stable, if modest, capital growth compared to properties in growth districts experiencing active new supply.

Frequently Asked Questions

What rental yield can I expect if I purchase a unit at 108 Jalan Rajah as an investment property?

Three-bedroom units at 108 Jalan Rajah typically command monthly rents between S$3,500 and S$4,200 in the Novena market, translating to annual gross yields of approximately 4.2% to 5.1% based on the purchase price. This yield profile is competitive within the HDB secondary market, particularly for investors prioritising stable income from owner-occupier tenants and families seeking spacious, well-maintained accommodation. The multiple bathrooms and generous square footage appeal to multigenerational households and expatriate families, reducing tenant churn and supporting consistent occupancy rates—a material advantage that strengthens the investment thesis relative to smaller-unit alternatives facing greater rental competition.

How does the psf pricing at 108 Jalan Rajah compare to recent transactions in nearby Novena HDB blocks?

Recent three-bedroom HDB transactions in comparable Novena estates have transacted at psf levels broadly in line with or slightly below asking prices at 108 Jalan Rajah, indicating fair market valuation relative to peer properties in the vicinity. The development's mature status, established infrastructure, and central location justify pricing that reflects the neighbourhood's premium positioning within Singapore's HDB market hierarchy. Prospective buyers should obtain comparative market analysis from multiple sources, examining transaction data across the past 6–12 months in blocks within 500 metres of 108 Jalan Rajah to validate pricing competitiveness and ensure alignment with broader district trends.

What ABSD implications should a second-time property buyer anticipate when acquiring at 108 Jalan Rajah?

Singapore Citizens purchasing a second residential property are subject to Additional Buyer's Stamp Duty (ABSD) at 20% of the property price, calculated on top of standard buyer's stamp duty and legal fees. For a property priced at approximately S$965,000, this represents a material cost component—roughly S$193,000—that significantly impacts total acquisition outlay and financing requirements. Second-time buyers should engage a mortgage broker early in the decision process to model total financing needs including ABSD, standard stamp duty (which scales from 1% to 4% depending on price bands), legal fees, and survey costs, ensuring their total borrowing capacity and available funds comfortably accommodate all transaction-related expenses without overcommitting their financial position.

How does lease decay affect long-term resale value and mortgage eligibility for 108 Jalan Rajah properties?

Lease decay—the progressive erosion of property value as the lease term shortens—becomes increasingly material for HDB properties as decades pass. When remaining lease falls below 60 years, financial institutions typically tighten lending criteria, reduce loan-to-value ratios, and may impose stricter income multiples, effectively dampening demand and exerting downward price pressure on resale transactions. Prospective buyers must verify the exact lease remaining at 108 Jalan Rajah and model realistic resale scenarios across 10, 15, and 20-year holding periods, incorporating conservative appreciation assumptions to ensure their investment thesis remains robust even if lease decay accelerates demand softness in later years.

How does proximity to the nearest MRT station influence demand and capital appreciation at 108 Jalan Rajah?

Proximity to transport infrastructure remains a dominant driver of residential desirability and capital value in Singapore. Ready access to MRT networks enables swift commuting to employment centres, educational institutions, and commercial hubs—factors that attract renters, owner-occupiers, and investors alike. The Novena neighbourhood's established transport connectivity supports both consistent rental demand and long-term capital appreciation, as central-area proximity traditionally correlates with resilient property valuations even during broader economic downturns. Properties within a 10-minute walk (approximately 600–700 metres) of MRT stations typically command premium pricing and demonstrate more stable resale demand relative to properties requiring longer walking distances or circuitous public transport connections.

Which buyer profiles—first-timers, upgraders, investors, HNW—are best suited to 108 Jalan Rajah?

108 Jalan Rajah appeals most strongly to upgraders transitioning from two-bedroom properties seeking substantially larger living space and multiple bathrooms at accessible price points. Families with children benefit from the generous floor area, established estate infrastructure, and proximity to schools and community facilities throughout Novena. Investors pursuing stable rental yields find the family-friendly layout and broad appeal to owner-occupier and expatriate tenants compelling, with rental income sufficient to cover mortgage outflows and generate modest positive cash flow. First-time buyers stepping into three-bedroom ownership find strong value relative to new-launch alternatives, though they must ensure financing capacity comfortably accommodates the larger mortgage quantum. High-net-worth buyers typically prioritise new condominiums or landed properties; however, sophisticated investors may acquire multiple 108 Jalan Rajah units as components of diversified rental portfolios.

What TDSR and financing headroom considerations should buyers model at typical 108 Jalan Rajah price points?

Under HDB financing schemes, eligible Singapore Citizens can borrow up to 90% of the property price (subject to HDB valuation caps), with monthly repayments on a S$965,000 property at 90% loan-to-value equating to approximately S$4,900–S$5,200 depending on mortgage tenure elected (typically 25–30 years). The Total Debt Service Ratio (TDSR) framework requires that total monthly debt servicing costs not exceed 60% of gross monthly household income, meaning a buyer servicing this mortgage alongside other obligations (car loans, personal credit facilities) must earn sufficient household income to satisfy regulatory thresholds whilst maintaining prudent financial headroom for living expenses and unforeseen emergencies. Many upgraders from smaller HDB units find monthly outlay manageable given accumulated equity and established income profiles, though buyers with competing debt obligations should seek independent financial advice to confirm financing feasibility before committing to purchase.

How does 108 Jalan Rajah compare to nearby competing HDB developments in Novena and adjacent precincts?

Novena and the immediate surrounding areas feature several comparable HDB estates offering three-bedroom units at similar price points, with subtle variations in residual lease duration, block architecture, amenity positioning, and lift accessibility creating nuanced demand differentiation. Nearby developments may offer marginally lower psf pricing or longer lease terms—trade-offs that depend on individual buyer priorities and investment horizons. Savvy buyers should conduct comparative site inspections across 2–3 peer estates, evaluating unit layout efficiency, community liveliness, proximity to specific amenities (wet markets, hawker centres, childcare facilities), and perceived estate maintenance standards. 108 Jalan Rajah's central Novena location and established maturity position it competitively, though newly completed alternatives slightly further afield may offer novel appeal or pricing advantages that merit comparative consideration.

Which unit stacks and floor levels at 108 Jalan Rajah offer optimal value for different buyer profiles?

Within multi-storey HDB blocks, floor level and stack position materially influence quality of life and resale demand. Lower to mid-level units (typically floors 4–12) offer reduced lift-wait times during peak hours and lower exposure to wind, noise, and water seepage risks, thereby attracting families with young children and elderly residents whose broad demand sustains consistent resale accessibility. Higher floors command premium rental yields and appeal to tenants prioritising unobstructed views and natural light, though they attract fewer first-time upgraders due to perceived inconvenience. Corner and end units generally yield superior layout efficiency and cross-ventilation relative to centre stacks, often justifying modest price premiums justified by rental premium or improved owner-occupancy quality. Investors should prioritise mid-level units (floors 6–10) appealing to broad tenant demographics, whilst owner-occupiers can indulge personal preferences for views, quietness, or specific layouts without compromising long-term resale accessibility.

What future supply pipeline factors should I monitor to contextualise 108 Jalan Rajah's long-term capital appreciation potential?

The Central Region—encompassing Novena and neighbouring planning areas—continues to attract public and private development activity, with Government Land Sales (GLS) exercises and new HDB Build-to-Order (BTO) launches potentially introducing competing supply that could exert pressure on resale HDB pricing, particularly if newer launches offer longer lease terms or lower psf pricing. Conversely, the scarcity of readily available prime-central HDB stock and Novena's established reputation as an upgrade destination provide countervailing demand support. Buyers should monitor GLS calendars and upcoming BTO announcements to contextualise 108 Jalan Rajah's medium-to-long-term appreciation potential relative to newly completed alternatives. Properties in mature estates with constrained future supply typically demonstrate more stable, if modest, capital growth compared to properties in growth districts experiencing active new supply, suggesting that 108 Jalan Rajah's value proposition rests on stability rather than explosive appreciation.

What key due diligence steps should prospective buyers undertake before committing to purchase at 108 Jalan Rajah?

Prospective buyers should commence due diligence by obtaining a detailed HDB property report confirming the exact address, block number, unit number, remaining lease duration (critical for financing and resale), property area, and outstanding conservancy charges or other liabilities affecting the development. Engage an independent surveyor to conduct a pre-purchase inspection, identifying structural defects, water seepage, electrical hazards, or maintenance issues that may necessitate remedial spending post-acquisition. Conduct comparative market research examining recent transaction prices for comparable three-bedroom units in the same or adjacent blocks, validating asking price competitiveness and identifying any pricing anomalies warranting further investigation. Consult a mortgage broker to confirm financing eligibility, calculate total acquisition costs (including ABSD, stamp duty, and legal fees), and model monthly cash flow implications across various mortgage tenures. Finally, verify that the property complies with HDB regulations and that any renovations or alterations have received official sanction, avoiding potential enforcement action or issues at resale.

[For Sale] Hdb Flat At Jalan Rajah — From S$965K