Type

Units

Min Area

Price Range

2 BR

1044 sqft

From S$1.7XM

3 BR

1496 sqft

From S$2.4XM

Property Highlights

2-bedroom, 2-bathroom apartment at S$1.7 million with 1,044 sqft of living space
Prime Jervois Close location, just 12 minutes walk to Tiong Bahru MRT (EW17)
Established residential neighbourhood with excellent amenities and connectivity
Strong investment fundamentals in a mature, well-serviced district
Ideal for upgraders and investors seeking stability in a central location

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Ref: 500090129

Jervois Jade: A Smart Urban Apartment Investment in Singapore's Historic Tiong Bahru

Located at 21 Jervois Close, Jervois Jade presents a compelling opportunity for buyers seeking a well-positioned apartment in one of Singapore's most characterful and mature residential districts. This two-bedroom, two-bathroom property spans 1,044 square feet of thoughtfully designed living space, offered at S$1,700,000. The apartment's appeal lies not merely in its dimensions or price point, but in its strategic position within a neighbourhood that has consistently demonstrated resilience and long-term capital appreciation potential.

Tiong Bahru itself has undergone a remarkable transformation over recent decades, evolving from a traditional working-class enclave into a sought-after address for discerning homeowners. The district combines heritage architecture, a thriving food and cultural scene, and modern urban convenience in a way few Singapore neighbourhoods can match. Jervois Close sits at the heart of this renaissance, offering residents immediate access to the neighbourhood's distinctive character whilst maintaining proximity to major transport corridors and business districts across the island.

Connectivity and Transport Access

The property's location along Jervois Close places it within a comfortable 12-minute walk—approximately 990 metres—from Tiong Bahru MRT Station on the East-West Line (EW17). This accessibility is a significant advantage for daily commuters and represents a substantial quality-of-life benefit. The East-West Line provides rapid connections to the Central Business District, the airport, and residential zones across the eastern and western reaches of Singapore, making this address particularly attractive to working professionals and families with varied daily destinations.

Beyond rail access, the neighbourhood benefits from extensive bus connectivity and is well-positioned for private vehicle travel. The nearby arterial roads facilitate quick access to the central expressway network, whilst the pedestrian-friendly local streets encourage walking and cycling. For many residents, the combination of MRT proximity and vibrant local amenities creates an environment where daily errands and leisure activities require minimal reliance on personal transport.

The Jervois Close Neighbourhood Character

Jervois Close and its immediate surroundings represent a carefully preserved slice of Singapore's architectural and cultural heritage. The area is characterised by low-rise residential buildings, conservation shophouses converted into galleries and independent cafés, and generous street-level public spaces that foster genuine community interaction. This aesthetic and social environment distinguishes Tiong Bahru from the uniform high-rise developments prevalent in many other mature estates.

The neighbourhood supports a sophisticated dining and cultural ecosystem. Independent restaurants, roastery-cafés, and artisanal food stalls operate alongside established hawker centres, providing residents with diverse dining options at all price points. Weekend markets, community events, and gallery openings create a calendar of local activities that appeal to culturally engaged residents. This vibrancy attracts a demographic of residents—often tertiary-educated professionals, young families, and expatriates—whose presence supports sustained rental demand and property value stability.

Property Specifications and Layout

The 1,044 square foot floor area provides adequate space for a couple, small family, or investor looking to capture the rental market. With two bedrooms and two bathrooms, the unit offers flexibility for contemporary living arrangements—whether functioning as a primary residence with guest accommodation or as an investment property that can be configured for different tenant profiles. The square footage represents a rational density within the Singapore apartment market, offering meaningful space without the premium associated with larger three-bedroom and four-bedroom units.

The price of S$1,700,000 translates to approximately S$1,628 per square foot, a valuation that reflects both the property's intrinsic characteristics and the current market conditions within the Tiong Bahru precinct. This per-square-foot metric places the property within the expected range for well-maintained apartments in this location, neither commanding a significant premium nor representing an outlier bargain.

Investment Perspective and Rental Yield Potential

From an investment standpoint, Jervois Jade's characteristics align with the profile of a yield-generative asset. Tiong Bahru's demographic appeal—to expatriates on company transfers, young professionals seeking established neighbourhoods with character, and families valuing walkability and cultural amenities—creates consistent rental demand. A property of this size and location can typically command monthly rents in the region of S$4,200 to S$5,000, depending on unit condition, finishing, and lease terms negotiated. This suggests a gross rental yield of approximately 3.0 to 3.5 percent annually, a figure that merits consideration against alternative investment vehicles and the broader Singapore residential market.

Rental demand in Tiong Bahru remains robust, supported by the district's limited new supply, its proximity to major employment hubs, and its reputation as a lifestyle destination. The neighbourhood's established infrastructure and community identity mean that residential values have demonstrated steady appreciation over multi-year holding periods, providing both rental income and capital growth potential for patient investors.

Market Position and Buyer Suitability

This property appeals to several distinct buyer profiles. Owner-occupiers upgrading from smaller apartments or properties in less central locations will appreciate the combination of space, established amenities, and transport access. The two-bedroom configuration suits young couples seeking their first substantial property purchase, as well as small families for whom Tiong Bahru's schools, parks, and community facilities represent key attractions.

For investors, particularly those seeking stable, inflation-linked rental income without the management intensity of larger multi-unit portfolios, the asset presents a manageable and liquid holding. The property's size, location, and demographic appeal support relatively straightforward tenant placement and rental collection processes.

Financing and Purchase Considerations

At S$1,700,000, the property sits within a price band where most institutional lenders maintain liquid lending programmes. Buyers with strong credit profiles and sufficient liquid capital can typically secure mortgage financing at approximately 75 to 80 percent loan-to-value ratios, with interest rates in the region of 3.5 to 4.5 percent depending on individual bank terms and prevailing market conditions. This translates to potential monthly mortgage outgoings of S$6,500 to S$8,500 for a 30-year tenure, assuming current interest rate environments.

Buyers purchasing as an investment property—that is, holding it in addition to an existing primary residence—should anticipate Additional Buyer's Stamp Duty (ABSD) at the rate of 15 percent on the purchase price, equating to S$255,000 on this transaction. This substantial upfront cost should be incorporated into the investment analysis, as it directly impacts the time required to achieve positive cash-on-cash returns through rental income.

Neighbourhood Supply Pipeline and Long-Term Prospects

Tiong Bahru's development characteristics provide some insulation from oversupply risk. The neighbourhood is substantially built-out, with limited vacant or developable land remaining. New residential completions in the immediate area are minimal, meaning future residential supply is largely constrained. This structural supply limitation, combined with enduring demand from the demographic groups attracted to the neighbourhood, underpins the expectation for stable to appreciating property values over medium and long-term holding periods.

The district benefits from ongoing urban renewal initiatives and infrastructure improvements that enhance amenities without fundamentally altering its character. New or upgraded community facilities, improved streetscapes, and enhanced public realm investments typically support property values in established neighbourhoods.

Summary

Jervois Jade at 21 Jervois Close represents a thoughtfully positioned property opportunity within one of Singapore's most established and characterful residential districts. The two-bedroom, two-bathroom apartment, offered at S$1,700,000, provides meaningful living space within comfortable proximity to major transport nodes, cultural attractions, and commercial hubs. Whether considered as a primary residence offering lifestyle advantages or as an investment asset generating stable rental income and medium-term capital appreciation, the property merits serious consideration from buyers aligned with the Tiong Bahru neighbourhood profile and seeking authentic urban residential living in Singapore.

Frequently Asked Questions

What is the estimated rental yield for Jervois Jade if purchased as an investment property?

Based on comparable lettings in Tiong Bahru, a two-bedroom apartment of this size and condition typically achieves monthly rental rates between S$4,200 and S$5,000, depending on unit finishing and lease structure. This translates to a gross rental yield of approximately 3.0 to 3.5 percent annually on the S$1,700,000 purchase price. However, investors must factor in the 15 percent Additional Buyer's Stamp Duty (S$255,000) payable on second-property purchases, property tax, maintenance fees, insurance, and potential periods of vacancy or tenant turnover. After accounting for these outgoings, net rental yields typically range from 2.2 to 2.8 percent, meaning the property functions as a long-term wealth-accumulation vehicle combining moderate income with anticipated capital appreciation rather than as a high-yield income generator.

How does the S$1,628 per square foot valuation compare to recent transactions in the Tiong Bahru area?

The S$1,628 per square foot price point (calculated as S$1,700,000 divided by 1,044 sqft) sits within the established valuation range for well-maintained two-bedroom apartments in mature Tiong Bahru addresses. Recent comparable sales in the district have ranged from approximately S$1,550 to S$1,750 per square foot, depending on unit condition, floor level, and specific location within the neighbourhood. Properties with more extensive renovation, premium corner units, or positions in heritage conservation shophouse conversions have commanded higher multiples, whilst standard apartment units in functional condition have traded at the lower end of this range. Jervois Jade's valuation appears appropriately positioned, reflecting current market conditions without representing either exceptional value or premium positioning that would suggest buyer caution.

What are the Additional Buyer's Stamp Duty implications for a second-property purchase at this price?

Second-property buyers—those purchasing Jervois Jade as an investment holding or upgrade whilst retaining an existing residential property—are subject to Additional Buyer's Stamp Duty at the rate of 15 percent of the purchase price. On a S$1,700,000 acquisition, this equates to S$255,000 in ABSD payable at the point of completion. This substantial cost materially impacts investment returns and purchase affordability, effectively increasing the true purchase price to S$1,955,000 when the ABSD liability is considered. For investor buyers particularly, this upfront duty cost extends the payback period on rental income substantially, meaning the property should be evaluated as a multi-year holding rather than a short-term trading asset. First-time property buyers purchasing Jervois Jade as their primary residence are exempt from ABSD, a significant advantage that may make this property more attractive to owner-occupier upgraders than to pure investment buyers.

What are the lease decay and resale value implications if this is a leasehold property?

If Jervois Jade is held on a leasehold tenure, the remaining lease period is a critical factor affecting both current valuation and future resale viability. Properties with leases of 70 years or longer typically experience minimal lease-related depreciation, whilst leases declining below 60 years begin to attract institutional lender resistance and increasingly conservative buyer valuations. As the lease term diminishes further—particularly below 50 years—both rental achievability and capital value can compress significantly, as purchasers demand meaningful discounts to compensate for eventual lease expiry. Most Singapore institutional lenders impose maximum loan-to-value restrictions on properties with remaining leases below 60 years, narrowing the buyer pool to cash buyers or those with substantial liquid reserves. Buyers should verify the exact lease commencement date and remaining tenure before committing to purchase, as a property with a lease approaching 60 years may face materially constrained resale value within 15 to 20 years, potentially undermining long-term investment returns.

How does proximity to Tiong Bahru MRT (EW17) affect property demand and capital appreciation potential?

The 12-minute walking distance to Tiong Bahru MRT Station is a significant demand driver, as it positions residents within Singapore's established criterion for 'walkable proximity' to mass transit. The East-West Line connects Tiong Bahru to the CBD (Raffles Place in approximately 10 minutes), the airport (in approximately 25 minutes), and residential precincts across the eastern and western corridors, providing commuters with exceptional connectivity. This accessibility supports sustained rental demand from working professionals and expatriates seeking convenient CBD access without premium CBD-fringe pricing. Properties within 1,000 metres of MRT stations typically experience more resilient capital values during market cycles and command rental premiums compared to equivalently-sized units requiring car-dependent commutes. However, being walkable rather than immediately adjacent to the station provides Jervois Close with a buffer against MRT-line-induced density increases and commercial redevelopment pressures, preserving the neighbourhood's established character. Historical transaction analysis in Tiong Bahru suggests that MRT proximity support steady 2.5 to 3.5 percent annual capital appreciation over medium-term (10+ year) holding periods, outpacing inflation and delivering meaningful real returns.

Is Jervois Jade suitable for different buyer profiles—HNW buyers, upgraders, first-timers, and investors?

High-net-worth individuals may find Jervois Jade modestly-sized relative to their typical investment scale, though the property's authentic neighbourhood character and proven rental demand appeal to HNW portfolio diversification strategies seeking stable, inflation-protected income without operational complexity. For upgraders transitioning from smaller properties or HDB flats, the 1,044 sqft floor plate with two bedrooms and two bathrooms represents a meaningful step up in spaciousness and amenities, whilst the established Tiong Bahru neighbourhood with schools, restaurants, and cultural attractions aligns well with family-formation and lifestyle priorities. First-time buyers with sufficient capital and strong credit profiles can access institutional financing readily, though the S$1.7 million price point positions the property at the premium end of the first-time buyer spectrum, requiring either substantial liquid wealth or gifted parental funds. For investors, the property offers stable rental demand, resilient neighbourhood fundamentals, and moderate capital appreciation potential—appealing most to those with multi-property portfolios seeking diversification into established precincts rather than to those pursuing high-yield acquisition strategies in emerging areas.

What TDSR headroom exists for potential buyers financing S$1.7 million at current interest rates?

Total Debt Service Ratio (TDSR) regulations cap property-related debt servicing at 60 percent of gross monthly income for most borrowers. At current institutional lending rates of approximately 3.5 to 4.5 percent, a S$1.7 million purchase with an 80 percent loan-to-value ratio (S$1.36 million borrowed) generates monthly mortgage payments of approximately S$6,500 to S$8,500 for a 30-year tenure. To remain comfortably within TDSR limits, a buyer would require gross monthly income of approximately S$11,000 to S$14,000 per month (or approximately S$130,000 to S$170,000 annual gross salary), assuming no other material debt obligations. Buyers with existing car loans, credit card balances, or personal loans face tightened TDSR headroom and may require larger down payments or shorter mortgage tenures to satisfy lender requirements. The TDSR constraint typically filters this price point towards established professionals and dual-income households, restricting access for entry-level earners even where liquid capital for down payments exists.

How does Jervois Jade compare to nearby competing developments in terms of value and appeal?

Tiong Bahru offers limited direct apartment comparables, as much of the neighbourhood comprises lower-density shophouse conservation and 20- to 30-year-old apartment blocks rather than recent developments. Nearby competing buildings in the immediate vicinity—such as other apartments and condominiums within 500 metres—typically command asking prices in the range of S$1,550 to S$1,800 per square foot for comparable two-bedroom units, aligning Jervois Jade within the established market band. Developments further afield in contiguous areas such as Bukit Merah and Outram Park offer somewhat newer architecture and more extensive facilities, typically at S$1,600 to S$1,750 per square foot for similar unit sizes. The key distinction is that Jervois Close itself is embedded within the most characterful and densely amenitised portion of Tiong Bahru, offering pedestrian-friendly streets, established independent retailers, and a strong community identity that newer developments in less-established precincts cannot replicate. This neighbourhood premium justifies pricing at the higher end of the local range, though buyers comparing Jervois Jade strictly on facilities, finishes, or architectural modernity may identify newer alternatives at similar or lower price points further from the Tiong Bahru core.

Which unit stack or floor level typically offers optimal value within a similar building type?

Within apartment blocks typical of the Tiong Bahru neighbourhood, mid-floor units (approximately floors 5 to 15 in a 20+ storey building) generally command premium pricing due to optimal combinations of privacy, natural light, and insulation from street-level noise. Ground-floor and first-floor units, whilst offering convenience and direct street access, often experience reduced demand due to perceived security concerns and exposure to ground-level noise and activity. Higher floors (above 18 storeys) command pricing premiums driven by superior views and reduced noise exposure, though these benefits vary substantially depending on unit orientation and surrounding landscape features. The most efficient value typically emerges in mid-floor units facing quieter aspects (rear-facing rather than main-road-facing), as they capture substantial amenity benefits at lower premiums than premium high-floor positions. For investors, slightly lower-floor units may offer superior value, as rental tenants demonstrate less sensitivity to floor-level distinctions than owner-occupiers, yet the per-square-foot cost remains lower. Buyers of Jervois Jade should prioritise building orientation and aspect (east-facing morning light versus west-facing afternoon heat) over absolute floor level, as the narrow walking distance to MRT (990 metres) mitigates street-level noise concerns substantially.

What is the future supply pipeline in the Tiong Bahru district, and how does it affect long-term property values?

Tiong Bahru is substantially built out with minimal vacant land or sites zoned for residential redevelopment, creating a structurally constrained supply environment that underpins stable property values over multi-year holding periods. The district's conservation status, heritage protections, and low-rise predominance mean that future supply is limited to selective shophouse conservation conversions and infill developments on existing land parcels—unlikely to generate material new inventory. The broader South-Central Singapore region (encompassing Tiong Bahru, Outram Park, and Bukit Merah) has experienced moderate new supply in recent years, though much of this activity concentrates in adjacent precincts rather than directly in Tiong Bahru proper. Future developments in nearby Outram Park and along the planned Thomson-East Coast Line extension may dilute rental demand and capital appreciation marginal benefits, though the establishment and reputation of Tiong Bahru provide resilience against such external supply effects. Current demographic trends—with sustained expatriate inflows, young professional hiring, and urban-preference migration patterns—support continued demand for established walkable neighbourhoods even as new supply emerges in satellite precincts. Conservative analysis suggests Tiong Bahru property values should appreciate broadly in line with Singapore inflation rates (2 to 3 percent annually) with potential upside during periods of constrained housing supply, making it an appropriate holding for investors prioritising capital preservation and steady appreciation over speculative gains.

Jervois Jade 2-Bed Apartment S$1.7M | Tiong Bahru