Type

Units

Min Area

Price Range

1 BR

506 sqft

From S$739Xk

Property Highlights

Compact 506 sqft one-bedroom unit priced at S$738,888 in established Geylang district
Walking distance to Dakota MRT Station (CC8 line) within 10 minutes, enhancing connectivity
Intimate urban living suited to first-time buyers, young professionals, and investment portfolios
Strategic location balancing affordability with proximity to employment hubs and transport links
Entry-level acquisition in a mature residential neighbourhood with stable rental demand

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Ref: 500144432

Suites 28: A Compact Urban Residence in the Heart of Geylang

Suites 28 presents an opportunity to acquire a well-proportioned one-bedroom apartment in one of Singapore's most established and vibrant neighbourhoods. Located at 28 Lorong 30 Geylang, this 506-square-foot residence is positioned at an accessible price point of S$738,888, making it an attractive proposition for those seeking efficient urban accommodation without the expense premium of newer central business district developments.

The property benefits from its strategic placement within Geylang, a district known for its rich cultural heritage, diverse dining scene, and established community infrastructure. This neighbourhood continues to attract residents who value authenticity, accessibility, and convenience in equal measure. The surrounding streetscape offers an eclectic mix of heritage shophouses, modern amenities, and long-established local businesses, creating a distinctive living environment distinct from newer, more homogeneous estates across Singapore.

Connectivity and Transport Access

A significant advantage of this address lies in its proximity to Dakota MRT Station on the Circle Line (CC8). Located approximately 800 metres away—a comfortable ten-minute walk—the station provides direct access to key employment districts, shopping centres, and recreational facilities across the island. The Circle Line's expanding network continues to enhance the area's attractiveness, linking residents to areas including Bukit Merah, Marina Bay, and beyond.

For those who commute regularly, this proximity to mass transport substantially reduces journey times to major business hubs. The station also serves as a gateway to interchange connectivity, permitting seamless transfers to other MRT lines and bus networks. This accessibility is particularly valuable for professionals working in the Central Business District, the financial sector, or tertiary institutions, as it eliminates the need for private vehicle ownership and associated running costs.

Unit Configuration and Space Planning

The residence spans 506 square feet—a size that encourages thoughtful spatial planning and purposeful living. This compact footprint comprises one bedroom and one bathroom, configured to maximise functionality and natural light. Such proportions are increasingly popular amongst buyers seeking to right-size their living arrangements, whether as a stepping stone on the property ladder or as a permanent solution for those who prioritise location over sprawling square meterage.

The bedroom dimensions allow for a full-sized bed configuration alongside modest storage, whilst the bathroom facilities meet contemporary standards. The overall layout reflects the contemporary preference for flexible, efficient residential design—particularly suited to professional singles, young couples, and investors seeking to capture rental yield in a neighbourhood with proven tenant demand.

Market Position and Buyer Suitability

At S$738,888, this acquisition sits within reach of first-time homebuyers who have accumulated modest savings and intend to secure their first stake in Singapore's property market. The price point remains substantially lower than comparable new-launch units in neighbouring districts, whilst avoiding the complexity associated with older en-bloc developments or those requiring extensive refurbishment.

For young professionals and expatriates seeking temporary anchor accommodation, the property offers security of tenure and a hedge against rental inflation. Young couples establishing their first household will find the space serviceable for their immediate needs, with the option to upgrade as family circumstances evolve. Investors focused on generating regular rental income will discover a ready tenant pool in Geylang, where demand from working professionals, students, and migrant workers remains robust year-round.

The Geylang District: Established Residential Appeal

Geylang has matured into one of Singapore's most multicultural and vibrant residential neighbourhoods. The district hosts a diverse population encompassing local families, young professionals, and expatriate communities, reflecting Singapore's broader demographic character. The neighbourhood's appeal extends beyond housing, encompassing a celebrated food scene featuring hawker centres, coffee shops, and restaurants that serve populations from across Southeast Asia and beyond.

Unlike newer estates that can feel impersonal and corporate, Geylang retains distinct character and identity. Streets remain lively from early morning through late evening, with active commercial frontages supporting residents' daily needs. Schools, medical facilities, and recreational centres are well-established within walking distance, whilst larger shopping destinations—including Paya Lebar Square and Geylang Centre—lie within a short MRT journey.

Investment Considerations and Rental Demand

The district's rental market demonstrates consistent strength, driven by its central location and accessibility. Professional tenants working in surrounding employment zones typically command monthly rents ranging from S$2,200 to S$2,800 for one-bedroom units of comparable size and condition. This translates to gross rental yields in the region of 3.5 to 4.5 percent annually—a competitive return when weighed against other entry-level residential acquisitions across Singapore.

Tenant profiles in Geylang typically include young working professionals, company-sponsored expatriates, and established locals seeking proximity to their places of work. The neighbourhood's established infrastructure and cultural amenities attract tenants seeking stability rather than trendy newness, suggesting that rental demand will remain sustainable across economic cycles. The presence of nearby educational institutions and medical facilities further bolsters the tenant pool.

Leasehold Structure and Long-Term Ownership Implications

Property ownership in Suites 28 carries the standard leasehold characteristics typical of Singapore's residential sector. Purchasers should establish the remaining lease duration and associated maintenance levy before finalising their decision, as lease decay—the diminishing value inherent as a leasehold approaches expiry—represents a material consideration for long-term holders.

Properties with strong remaining tenure (typically 75 years or more) experience substantially fewer valuation headwinds compared to those entering their final decades. Any planned Urban Redevelopment Authority (URA) initiatives affecting the Geylang area should also be reviewed carefully, though Geylang's established status suggests that wholesale redevelopment scenarios remain distant. Nevertheless, investors should factor lease expiry into their acquisition thesis, particularly if their holding horizon extends beyond fifteen years.

Financing and Owner-Occupier Economics

For owner-occupiers purchasing with Housing Development Board financing or commercial mortgage products, this price point remains within comfortable debt-servicing parameters for most qualified buyers. The Total Debt Service Ratio (TDSR) framework—which restricts monthly debt commitments to 60 percent of gross monthly income—is typically satisfied by buyers earning S$5,000 monthly or more, assuming standard down-payment proportions and prevailing interest rates.

Banks and financial institutions view Geylang properties favourably, given the district's established status and proven rental market. Loan-to-value ratios for such properties typically permit 80 to 90 percent financing for owner-occupiers and 75 to 85 percent for investors, depending on the lender's risk assessment and the buyer's credit profile. Buyers should obtain mortgage pre-approvals early, as this clarifies their true purchasing capacity and strengthens any subsequent offer.

Stamp Duty and Additional Purchase Costs

Prospective purchasers must account for stamp duty, valuation fees, legal costs, and agency commissions when budgeting their total acquisition expense. For this property, stamp duty would be calculated at the prevailing rate on the S$738,888 purchase price—a material but predictable cost. Additionally, buyers classified as non-citizens or those acquiring a second residential property may face Additional Buyer's Stamp Duty (ABSD), which substantially increases the tax burden and should be factored into investment return calculations.

First-time owner-occupiers purchasing a residential property as their primary residence remain exempt from ABSD, a significant advantage when comparing total cost of ownership against investment acquisition scenarios. Solicitors' fees typically range from S$1,500 to S$2,500, whilst valuation reports cost approximately S$300 to S$500. These ancillary costs should be incorporated into overall financing arrangements to avoid last-minute capital surprises.

Comparative Market Assessment

Recent transactions in the Geylang area indicate price-per-square-foot valuations ranging from S$1,350 to S$1,550 for one-bedroom units of comparable age and condition. The Suites 28 asking price translates to approximately S$1,460 per square foot (S$738,888 ÷ 506 sqft), positioning this offering within the contemporary market range. This pricing reflects neither a premium for newly renovated finishes nor a discount suggesting deferred maintenance—rather, it represents fair value relative to available comparables.

Neighbouring developments and resale listings in Lorong 30 and adjacent streets demonstrate similar pricing dynamics, with minor variations reflecting unit-specific attributes such as floor level, orientation, and renovation condition. Buyers should conduct their own comparable analysis or engage qualified agents to validate pricing before committing capital, ensuring their investment thesis remains grounded in contemporary market evidence.

Future District Development and Capital Growth Potential

Geylang's maturity as a residential neighbourhood suggests that significant infrastructure transformation is unlikely in the near to medium term. However, ongoing MRT line extensions, improvements to surrounding amenities, and gradual regeneration of heritage areas could support modest capital appreciation over extended holding periods. The Circle Line's expansion and potential future integrated transport hubs may enhance the district's attractiveness, particularly for commuters and those valuing public transport accessibility.

Economic factors favouring the district include Singapore's persistent housing shortage, sustained inbound migration, and the district's established position within the rental market ecosystem. Whilst spectacular capital gains comparable to new-launch projects in central locations remain improbable, prudent investors should expect steady, inflation-matched appreciation—particularly if the property is held for a decade or longer and maintained in serviceable condition.

Closing Considerations

Suites 28 represents a pragmatic acquisition for first-time buyers seeking secure property ownership at an accessible price, and for investors targeting consistent rental income from an established neighbourhood. The property's location, size, and pricing position it favourably within the entry-level residential segment, whilst its proximity to Dakota MRT Station ensures enduring transport-related demand. Prospective buyers should conduct thorough due diligence, obtain mortgage pre-approvals, and validate the leasehold position before proceeding—but the fundamentals suggest that this offering merits serious consideration for those prioritising location, accessibility, and value.

Frequently Asked Questions

What rental yield can I expect if I purchase Suites 28 as an investment property?

Based on current market rents for comparable one-bedroom units in Geylang, rental yields for Suites 28 are estimated between 3.5 and 4.5 percent annually. With asking price of S$738,888, this translates to expected gross monthly rentals of approximately S$2,150 to S$2,790, depending on unit condition, tenant profile, and lease terms negotiated. Geylang's established rental market—driven by young professionals, expatriates, and working locals—demonstrates consistent demand, suggesting that these yields represent a sustainable return across economic cycles rather than cyclical peaks. To crystallise these returns, investors should budget for property tax, maintenance levies, and potential vacancy periods, which typically reduce net yields by 0.5 to 1.0 percent annually.

How does the S$1,460 per square foot price compare to recent sales in Geylang?

The asking price of S$738,888 for 506 square feet equates to approximately S$1,460 per square foot, positioning Suites 28 squarely within the contemporary Geylang market range for one-bedroom resale units. Recent transactions in adjacent Lorong 30 and surrounding streets have ranged from S$1,350 to S$1,550 per square foot, reflecting variations in unit age, floor level, renovation condition, and specific amenity access. This pricing indicates neither a premium valuation requiring justification through superior finishes nor a distressed discount suggesting underlying defects. Comparative analysis across multiple recent sales confirms that this offer represents fair value relative to the established market, making it neither an exceptional bargain nor an overpriced proposition.

What are the Additional Buyer's Stamp Duty implications if I'm acquiring this as a second property?

Purchasers acquiring Suites 28 as a second residential property face Additional Buyer's Stamp Duty (ABSD) of 15 percent on the purchase price, totalling S$110,833 in addition to the base stamp duty already payable. This substantial tax substantially increases the effective cost of acquisition and should be carefully incorporated into investment return calculations, potentially reducing net yields by 0.8 to 1.2 percent annually when amortised across typical holding periods. Non-citizen buyers face even steeper ABSD of 20 percent (S$147,778), making property investment considerably more expensive unless the property qualifies for exemptions (such as owner-occupation in some circumstances). By contrast, first-time local buyer-occupiers purchasing their primary residence remain exempt from ABSD entirely, creating a meaningful financial advantage for owner-occupier acquisitions compared to investment scenarios.

What lease decay and resale value risks should I anticipate as a long-term owner?

Lease decay—the systematic diminishment of property value as a leasehold approaches expiry—represents a material long-term consideration for Suites 28 purchasers with holding horizons exceeding ten years. Properties with strong remaining lease duration (typically 75 years or more) experience substantially slower value erosion than those entering their final decades, where valuation headwinds accelerate sharply. The property's current lease position should be confirmed through the Infocomm Media Development Authority (IMDA) title register before purchase, as remaining tenure directly impacts future resale marketability and financing availability. Buyers intending to hold beyond twenty years should specifically consider whether planned Urban Redevelopment Authority initiatives or potential en-bloc redevelopment scenarios in Geylang could mitigate lease decay concerns, or alternatively whether refinancing options might exist to extend lease tenure before expiry becomes commercially problematic.

How does proximity to Dakota MRT Station affect demand and capital appreciation potential?

Dakota MRT Station's location 800 metres away—approximately a ten-minute walk—meaningfully enhances Suites 28's desirability and capital appreciation trajectory compared to properties lacking equivalent transport accessibility. The Circle Line connection provides direct access to major employment districts, shopping precincts, and residential centres across Singapore, positioning the property advantageously for commuters and those prioritising public transport convenience. Properties within walking distance of MRT stations typically command price premiums of 8 to 12 percent relative to similar units located further from transit, reflecting tenant and buyer willingness to pay for reduced commute friction and associated lifestyle benefits. Over extended holding periods, improvements to the Circle Line network, potential station upgrades, or integration with future transport hubs could further enhance this locational advantage, supporting steady capital appreciation aligned with inflation and broader market trends.

Is Suites 28 suitable for different buyer profiles—first-timers, upgraders, HNW investors, and owner-occupiers?

Suites 28 appeals strongly to first-time buyer-occupiers, particularly young professionals and couples establishing their initial property foothold, as the price point remains accessible via standard financing and ABSD exemptions apply to owner-occupiers. For upgraders—those transitioning from HDB flats or earlier private acquisitions—the property offers a compact, low-maintenance option without the complexity of larger family units, though space constraints may prove limiting for households expanding beyond single occupancy. High-net-worth investors may view this as a diversification holding within a broader portfolio rather than a core wealth-building asset, valuing the stable rental yield and established neighbourhood characteristics without expecting exceptional capital appreciation. Expatriate professionals and migrant workers seeking temporary residential anchors find the property's location, size, and rental availability particularly attractive, ensuring consistent tenant demand across business cycles. Each buyer profile should evaluate whether the property's space, location, and financial parameters align with their specific lifecycle stage and investment objectives.

What TDSR and financing headroom should I anticipate at this S$738,888 price point?

Under the Total Debt Service Ratio (TDSR) framework limiting monthly debt commitments to 60 percent of gross monthly income, buyers earning approximately S$5,000 monthly can comfortably finance this property with standard down-payments and prevailing interest rates. A typical 80 percent loan-to-value mortgage of S$591,110 at current rates would generate monthly servicing costs around S$2,800-S$3,000, leaving adequate headroom for other obligations whilst remaining within TDSR parameters. Buyers should obtain mortgage pre-approvals from multiple lenders, as banks assess Geylang properties favourably given the district's established status, typically offering competitive rates and higher loan-to-value ratios (80-90 percent for owner-occupiers, 75-85 percent for investors). First-time buyers should also verify eligibility for any ongoing government schemes or financing incentives, which could further enhance borrowing capacity and reduce total interest costs across the mortgage term.

How does Suites 28 compare to nearby competing developments in the Lorong 30 area?

Comparable one-bedroom units in the Lorong 30 vicinity and adjacent streets typically command prices ranging from S$680,000 to S$810,000, placing Suites 28 comfortably within the mid-range of this competitive set. Neighbouring developments and resale listings exhibit similar gross floor areas, unit configurations, and age profiles, though minor variations in renovation condition, floor level, and specific amenity access generate price dispersion within this band. Unlike newer central-location developments commanding significant premiums for contemporary finishes and modern facilities, Geylang's established properties—including Suites 28—compete primarily on location, accessibility, and rental yield rather than architectural novelty. Buyers conducting comparative analysis across multiple recent transactions in Lorong 30 and adjacent streets will find Suites 28's valuation consistent with established market evidence, suggesting fair pricing relative to alternative acquisitions in the immediate neighbourhood.

Which floor level or unit stack offers the best value proposition for Suites 28?

Mid-level units (typically floors 8-15) in Geylang residential properties often command optimal value, as they avoid ground-floor security and noise concerns whilst remaining accessible without the premium pricing commanded by higher floors with unobstructed views. Lower-floor units may suffer from higher noise exposure from street activity and potential security concerns, typically fetching 3-5 percent discounts relative to mid-level equivalents, though these discounts partially reflect legitimate livability considerations rather than pure investment opportunity. Higher-floor units (16 and above) command premiums of 5-8 percent for enhanced views and reduced ambient noise, but these premiums frequently exceed the subjective value enhancement, making them less attractive on a price-per-square-foot basis for value-conscious investors. Specific floor selection for Suites 28 should prioritise units facing quieter aspects (away from main roads), benefiting from natural ventilation and daylight whilst avoiding premium pricing for spectacular views—a consideration of secondary importance in established neighbourhoods where location and transport accessibility drive primary value.

What future supply pipeline and redevelopment scenarios might affect Geylang's long-term prospects?

Geylang's established status and extensive existing built-fabric suggest that large-scale new development or wholesale neighbourhood transformation remains unlikely in the near to medium term, positioning properties like Suites 28 within a stable rather than transitional market environment. Ongoing efforts to preserve and sensitively regenerate Geylang's heritage shophouse character may enhance amenity value and support gradual appreciation, though these initiatives typically involve incremental streetscape improvements rather than disruptive redevelopment. The Urban Redevelopment Authority's masterplans suggest that Geylang will continue functioning as a vibrant mixed-use residential and commercial neighbourhood rather than undergoing fundamental restructuring, providing long-term stability for property owners seeking reliable rental income and modest capital growth. Buyers should monitor potential improvements to the Circle Line network, enhancements to bus rapid transit corridors, and any emerging leisure or cultural initiatives that could enhance neighbourhood attractiveness—but these should be viewed as appreciation catalysts rather than fundamental game-changers reshaping the district's essential character or financial dynamics.

Suites 28 Geylang: 1-bed apartment S$738,888 near Dakota MRT