Type

Units

Min Area

Price Range

1 BR

667 sqft

S$1.3M

2 BR

603 sqft

S$1.2M

Property Highlights

Condo development with 2 units currently available.
Prices currently range from S$1.2M to S$1.3M.
For Singaporean second property buyers, ABSD applies at 20% of the purchase price, approximately S$246K on this acquisition.
Located 6 min (520 m) from EW19 Queenstown MRT Station.

Price Trends & Rental Yield

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Alexis at Alexandra Road: A Mature Condominium in the Heart of Queenstown

Alexis stands as a significant residential offering in one of Singapore's most established suburban neighbourhoods. Positioned at 356 Alexandra Road, the development benefits from its location within the Queenstown estate, an area renowned for its blend of mature community character and modern urban connectivity. The proximity to Queenstown MRT station—just 520 metres or a six-minute walk away—ensures that residents enjoy seamless access to the broader island via the East-West Line, a major transport corridor serving both the city centre and the eastern expanses of Singapore.

The condominium presents a diverse portfolio of residential units designed to accommodate varying household compositions and lifestyle preferences. Unit sizes commence at approximately 603 square feet, reflecting an orientation towards efficiency without sacrificing comfort. This format appeals particularly to first-time buyers seeking their entry point into private residential ownership, professional couples valuing proximity to employment centres, and investors building diversified property portfolios. The starting price point of S$1.23 million positions Alexis within a competitive mid-range segment, offering meaningful value relative to comparable developments across the greater Queenstown precinct and adjacent conservation districts.

Strategic Location and Connectivity

The development's siting on Alexandra Road places it within one of Singapore's historically significant and well-planned residential zones. Queenstown itself evolved as a pioneer of public-private mixed housing and has matured into a neighbourhood characterised by established greenery, accessible local amenities, and a strong sense of community identity. The proximity to Queenstown MRT station—approximately six minutes on foot—is a material advantage for commuters and those requiring frequent mobility across the island. The East-West Line serves as a primary spine connecting the eastern new towns, the central business district, and the western industrial precincts, making the station a natural hub for working professionals and students.

Beyond public transport, the locality offers convenient access to established shopping centres, wet markets, hawker centres, and dining establishments. The Alexandra shopping belt and nearby retail strips cater to daily household needs without the premium pricing often associated with central business district-adjacent locations. This balance between accessibility and relative affordability has sustained demand for properties within the Queenstown envelope across multiple property cycles.

Unit Configurations and Design Philosophy

Alexis demonstrates a thoughtful approach to residential floor planning, with entry-level units commencing at 603 square feet and extending to larger configurations. This graduated tiering allows buyers of different financial capacities and household sizes to access the same development, building a diverse resident community. Smaller units within this range are particularly suited to downsizers transitioning from landed property to low-maintenance living, young professionals maximising mortgage serviceability, and investor-owner occupiers who view real estate as a long-term wealth accumulation vehicle.

The compact unit mix reflects broader industry recognition that not every resident requires or desires expansive square meterage. Efficient floor plans maximise usable living space whilst minimising common area wastage, translating to more competitive price points per square foot. For investors evaluating gross rental yield potential, the lower absolute acquisition cost of compact units can produce competitive percentage returns, particularly when positioned in a sought-after location with consistent tenant demand.

Investment Credentials and Rental Market Dynamics

Properties within the Queenstown vicinity have historically demonstrated resilience in rental market cycles. The combination of proximity to Queenstown MRT, established transport links to employment hubs, and the neighbourhood's maturity creates sustained demand from tenants seeking convenient, stable suburban accommodation. Investors acquiring units at Alexis should anticipate that the lower entry price point and compact format will appeal to a broad tenant demographic: young professionals, expatriate workers on limited tenure, and downsizers seeking flexibility.

Gross rental yields for comparable condominium units in this precinct have varied between approximately 3% and 4% depending on specific floor levels, unit orientation, and current market conditions. More conservative estimates should be applied to larger, premium-priced units, whilst smaller units often produce higher percentage yields due to their lower absolute purchase price and appeal to a wider potential tenant pool. Prospective investors should conduct individual due diligence on current market rents for comparable units within a 500-metre radius of the development to establish realistic yield expectations prior to commitment.

Additional Buyer's Stamp Duty and Second-Property Acquisition

Singapore citizens acquiring Alexis as a second or subsequent residential property will incur Additional Buyer's Stamp Duty (ABSD) at a rate of 20% of the purchase price, applied above the base stamp duty payable on all property acquisitions. This represents a material cost consideration that should be factored into the total acquisition outlay and expected return on investment. For a unit priced at S$1.23 million, for example, ABSD would total approximately S$246,000, representing a significant addition to legal and conveyancing expenses.

This duty structure was implemented to moderate demand from portfolio investors and maintain affordability for owner-occupiers acquiring their first residential property. Buyers should ensure their financial planning adequately accounts for ABSD liability and factor this into their decision-making framework. Consultation with a qualified tax adviser or conveyancing lawyer is strongly recommended prior to any exchange of contracts.

Lease Tenure and Long-Term Value Preservation

The Alexis development operates on a 999-year lease tenure, which effectively grants residents perpetual use rights and eliminates the lease decay concerns that characterise properties held on 99-year terms. This lease structure is attractive to long-term resident owners who value security of tenure without encroaching lease expiry risks, and it is equally compelling for investors seeking assets unlikely to experience material capital depreciation due to leasehold tail erosion over the decades ahead.

The absence of lease decay risk represents a material differentiator from shorter-tenure properties and supports capital value preservation across extended investment horizons. Financing institutions typically view 999-year properties with greater favour than those with diminishing lease terms, potentially facilitating refinancing and future portfolio transactions.

Demographic and Buyer Suitability

The development's characteristics position it as attractive to several distinct buyer profiles. First-time owner-occupiers benefit from the lower entry price point, established neighbourhood infrastructure, and accessible financing terms likely to be extended by major financial institutions for properties within such a stable location. Young families upgrading from rented accommodation find the compact unit format and condominium amenities suited to their transitional life stage. Downsizers exiting large landed properties appreciate the low-maintenance residential format and proximity to shopping, healthcare, and leisure facilities within the immediate locality.

Property investors constructing diversified portfolios value the combination of accessible pricing, rental market demand, and the absence of lease decay risk. The development's position within a mature, established estate mitigates neighbourhood-risk factors that can impede resale velocity or tenant acquisition in newer, less-proven locales.

Comparative Positioning within the Queenstown Precinct

Alexis competes within a market environment that includes several established condominium and apartment developments across the broader Queenstown estate and the adjacent Bukit Merah planning area. Price per square foot within this precinct has historically ranged from approximately S$1,800 to S$2,400 depending on unit size, floor level, and specific amenity provision. Compact units—such as those available at Alexis—typically command lower absolute prices but may yield competitive or superior price-per-square-foot metrics relative to larger units within comparable developments, reflecting the broad tenant and buyer appeal of efficiency-oriented residential products.

Prospective buyers should compare current asking prices and recent transaction data for units of similar size and configuration across nearby developments to establish realistic market benchmarking. This comparative analysis informs both fair-value assessment and realistic negotiation positioning when engaging with sellers or their agents.

Capital Appreciation Potential and Market Demand Drivers

The East-West Line and Queenstown MRT station represent enduring demand drivers for properties within this development's catchment. Singapore's land scarcity and constrained condominium supply in mature estates mean that accessible, well-located projects often experience steady capital appreciation across multi-year holding periods. The proximity to the MRT station—measured in minutes on foot rather than kilometres by vehicle—strengthens this appreciation thesis by reducing commute friction for working residents and making the property attractive to a broad cross-section of potential buyers and tenants.

Market conditions in recent years have demonstrated sustained appetite for properties within established, MRT-proximate locations across the suburbs, particularly those positioned below the median purchase price threshold. Alexis, positioned at this accessible price point with strong transport connectivity, aligns with these prevailing market dynamics.

Frequently Asked Questions

What is the estimated gross rental yield for investment units at Alexis?

Gross rental yields for condominium units within the Queenstown precinct typically range between 3% and 4%, depending on unit size, floor level, and current tenant demand conditions. Compact units at Alexis, positioned at lower absolute purchase prices, often generate higher percentage yields compared to larger units, as they appeal to a broader tenant demographic including young professionals and expatriate workers seeking affordable, MRT-proximate accommodation. Prospective investors should conduct individual market research by surveying current rental listings for comparable units within the immediate 500-metre vicinity to establish realistic yield expectations, as rental rates fluctuate in response to employment cycles, tenant supply-demand dynamics, and competing unit availability.

How does the price per square foot at Alexis compare to recent transaction data in Queenstown?

Price per square foot across the Queenstown precinct has historically ranged between approximately S$1,800 and S$2,400, varying by unit size, floor level, vertical position within the building, and amenity provision. Compact units such as those available at Alexis typically occupy the lower end of this range relative to their absolute purchase price, yet often deliver competitive or superior price-per-square-foot metrics compared to larger units within comparable nearby developments, reflecting strong market demand for efficient, affordable condominium stock in established suburbs. Buyers should cross-reference current market data for units of identical or near-identical floor area across nearby developments to establish accurate fair-value benchmarking and identify properties that represent genuine value within the current market cycle.

What is the Additional Buyer's Stamp Duty (ABSD) liability for Singapore citizens purchasing Alexis as a second property?

Singapore citizens acquiring a property at Alexis as a second or subsequent residential property incur Additional Buyer's Stamp Duty (ABSD) at a rate of 20% of the purchase price, calculated above base stamp duty. For a unit priced at S$1.23 million, this would result in an ABSD liability of approximately S$246,000, representing a substantial addition to the total acquisition cost that extends beyond the unit's purchase price itself. This duty structure was implemented to moderate portfolio investment demand and prioritise housing affordability for first-time owner-occupiers; consequently, second-property buyers must carefully account for this 20% ABSD impost when evaluating total acquisition expenditure, expected cash-on-cash returns, and financing requirements. Consultation with a qualified conveyancing lawyer or tax adviser is essential prior to exchange of contracts to ensure clarity on all acquisition costs and obligations.

Does the 999-year lease at Alexis eliminate long-term lease decay risk to resale value?

Yes, the 999-year lease tenure at Alexis effectively grants residents perpetual use rights and eliminates the lease decay concerns that characterise properties held on 99-year terms, where declining lease lengths eventually erode capital values as expiry approaches. With a 999-year lease, resale value is not materially impacted by leasehold tail erosion across decades of ownership, making the property particularly attractive to long-term resident owners prioritising security of tenure and investors seeking assets unlikely to experience capital depreciation due to lease expiration risk. Financing institutions typically extend more favourable lending terms to 999-year leasehold properties compared to shorter-tenure alternatives, facilitating future refinancing and portfolio transaction flexibility. This lease structure represents a material differentiator that supports capital value preservation and resident peace of mind over extended investment horizons.

How does proximity to Queenstown MRT station affect demand and capital appreciation potential?

The six-minute walk to Queenstown MRT station on the East-West Line represents a material demand driver that underpins both rental market appeal and long-term capital appreciation potential. The East-West Line serves as a primary transport spine connecting employment centres in the central business district, major residential hubs across the eastern new towns, and industrial precincts in the west, making it a high-utilisation corridor for commuters. Proximity to an MRT station—measured in single-digit walking minutes rather than distant vehicular access—significantly reduces commute friction and broadens the property's appeal to working professionals, students, and service industry workers, all of whom represent substantial tenant pools. Market evidence from recent years demonstrates sustained premium valuations and stronger capital appreciation for properties within established, MRT-proximate locations, particularly those in mature estates where new housing supply remains constrained; consequently, Alexis's positioning benefits from this enduring structural demand dynamic.

Which buyer profiles are best suited to purchasing units at Alexis?

Alexis appeals to multiple distinct buyer demographics, each finding different value propositions within the development. First-time owner-occupiers benefit from the accessible entry price point, established neighbourhood infrastructure, and favourable financing terms typically extended to properties within mature, stable localities; the compact unit format reduces mortgage serviceability strain and appeals to buyers optimising leverage within TDSR constraints. Young families upgrading from rented accommodation find the low-maintenance condominium format and proximity to shopping, healthcare, and dining amenities well-suited to their transitional life stage. Downsizers exiting large landed properties value the reduced maintenance burden, contemporary facilities, and walkable access to established community infrastructure. Property investors constructing diversified portfolios find the lower absolute acquisition cost, broad rental market appeal, absence of lease decay risk, and historically consistent demand from tenants within the suburban professional demographic make the development an efficient capital deployment vehicle. Each profile finds distinct advantages within Alexis's value proposition.

What TDSR and financing headroom considerations apply at typical Alexis price points?

At a unit price of S$1.23 million with current mortgage interest rates typically ranging between 2.8% and 3.5%, buyers must satisfy Total Debt Servicing Ratio (TDSR) requirements not exceeding 55% of gross household monthly income, a regulatory constraint implemented by the Monetary Authority of Singapore to maintain lending prudence. For a first-time owner-occupier acquiring a unit at this price point with a conventional 25-year mortgage at approximately 3.2% interest, indicative monthly mortgage payments would approximate S$5,200 to S$5,500 before accounting for property tax, insurance, and condominium fees; consequently, household gross monthly income of at least S$9,500 to S$10,000 would typically be required to satisfy TDSR constraints comfortably. Buyers should consult directly with financial institutions to obtain indicative pre-approval letters detailing precise financing terms, available leverage, and monthly servicing obligations specific to their personal financial profile; this formal pre-approval process ensures realistic purchasing power assessment and prevents overstretching of debt capacity.

How does Alexis compare to competing developments within the Queenstown and Bukit Merah precincts?

Alexis competes within a market environment that includes several established condominium and apartment developments across the broader Queenstown estate and adjacent Bukit Merah planning area, each offering distinct positioning in terms of unit mix, amenity provision, and price points. Comparable developments in this precinct typically offer units ranging from 400 to 800 square feet at price points between approximately S$800,000 and S$2.2 million, depending on floor area and specific amenity configuration. Alexis distinguishes itself through its 999-year lease structure—eliminating long-term lease decay risk—and its direct six-minute proximity to Queenstown MRT station, positioning it competitively for both owner-occupiers prioritising transport convenience and investors seeking rental yield potential. Prospective buyers should conduct systematic price-per-square-foot comparison across all competing developments within a 1-kilometre radius, cross-referencing unit specifications, amenity provision, and recent transaction data to identify relative value positioning; this comparative analysis informs fair-value assessment and realistic negotiation parameters.

Which unit stacks or floor levels at Alexis represent optimal value propositions?

Middle-level units—typically floors 8 through 15—often represent the most attractive value balance within condominium developments, as they avoid both the premium pricing commanded by higher floors (floors 16 and above) and the marginal discount applicable to lower floors where street-level noise and reduced visual amenity may constrain desirability. Units on floors facing quieter internal courtyards rather than main thoroughfares typically command premiums of 2% to 4% compared to similarly-sized units facing busier street frontage, reflecting reduced ambient noise and greater visual privacy. Corner units and those with superior orientation (north-facing or with afternoon western views) may attract premiums of 3% to 5% relative to standard configurations. Investors seeking optimal rental yield should prioritise middle-floor units with standard (non-premium) orientations, as tenants—unlike owner-occupiers—exhibit reduced willingness to pay material premiums for marginal location or view advantages, thereby compressing investment returns from expensive units. Prospective buyers should inspect floor plans and conduct on-site visits at various vertical positions to assess personal preference before final purchasing decisions.

What is the future supply pipeline for residential developments in this district, and how might this affect Alexis demand?

The Queenstown and Bukit Merah planning areas fall within mature residential envelopes where the Urban Redevelopment Authority (URA) has strategically constrained greenfield residential development to preserve neighbourhood character and manage density. Unlike newer private estates or fringe areas experiencing substantial new supply, the Queenstown precinct faces limited pipeline of new condominium units, creating structural scarcity that supports both capital appreciation and consistent rental demand. Planned infill developments and rejuvenation projects within the broader precinct may introduce supply gradually over the 2024-2028 period, though the pace remains significantly slower than in new town areas such as Punggol or Jurong. This constrained supply outlook is materially favourable for existing developments like Alexis, as reduced competing inventory sustains both owner-occupier demand and investor appetite. Nonetheless, buyers should remain cognisant of land-use planning cycles and monitor URA announcements regarding any large-scale transformation initiatives within the Queenstown estate that could introduce material competing supply within their intended holding period.

Is Alexis suitable for HNW (high-net-worth) buyers, or is it better positioned for mass-market segments?

Alexis is positioned squarely within the mass-market and upper-middle-market segments rather than the luxury high-net-worth category, reflecting its starting price point of S$1.23 million, compact unit format, and location in an established suburban precinct rather than a coveted central district address. High-net-worth buyers typically gravitate toward prestige developments in Marina Bay, Sentosa, the Orchard corridor, or exclusive landed enclaves, where unit prices exceed S$3 million and amenity provision encompasses concierge services, wine cellars, and private spa facilities rather than standard condominium functions. Alexis serves first-time owner-occupiers, young professionals seeking capital-efficient entry into private residential ownership, and investors optimising rental yield within accessible price points; these demographics represent the core demand drivers for the development. However, HNW buyers managing diversified property portfolios may opportunistically acquire units at Alexis as efficient capital-deployment vehicles for achieving target rental yield or maintaining liquidity reserves within volatile market conditions, provided they view the investment through a yield-maximisation lens rather than as a lifestyle purchase. The development's suitability is therefore profile-dependent rather than categorically unsuitable for high-net-worth purchasers.

Condominium At 356 Alexandra Road — From S$1.2M