Type

Units

Min Area

Price Range

4+ BR

5463 sqft

From S$7.1XM

Property Highlights

Brand-new corner terrace on Hillside Drive with 5 bedrooms, 7 bathrooms, and dual-fronted appeal
Exceptional proximity to Cheng Lim LRT Station (60 metres away) on the Thomson-East Coast Line expansion
5,463 sqft of internal living space across a generous 2,332 sqft land plot in sought-after Kovan enclave
Move-in ready status eliminates renovation delays and allows immediate occupancy or rental commencement
Strategic location bridges mature Yio Chu Kang residential charm with emerging Cheng Lim precinct connectivity

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Ref: 500113370

A New-Build Corner Terrace in Kovan's Prime Location

This exceptional corner terrace at Hillside Drive represents one of Kovan's most compelling new residential offerings. Completed and ready for immediate occupation, the property combines contemporary design standards with a thoughtfully planned layout across 5,463 square feet of built-in space. The strategic corner position affords the home dual street frontages and natural light that sets it apart from mid-terrace alternatives, while the generous 2,332 square feet of land provides both spaciousness and development potential that few comparable units in this neighbourhood can match.

Unmatched Transport Connectivity via Cheng Lim LRT

The property's most distinctive advantage lies in its proximity to Cheng Lim LRT Station, situated a mere 60 metres away. This positioning on the Thomson-East Coast Line (now fully operational) fundamentally transforms the property's appeal for both owner-occupiers and investment-minded buyers. The station provides seamless interchange potential and direct connectivity to major business districts, medical facilities, and educational hubs across Singapore. For commuters, this translates to sub-10-minute journeys to Orchard, Marina Bay, and the CBD, whilst leisure access to popular destinations becomes considerably more convenient. The strategic placement near the LRT precinct has historically driven sustained capital appreciation in comparable Kovan and Yio Chu Kang residences, and this unit's proximity positions it to benefit from similar dynamics as the district matures.

Five Bedrooms and Seven Bathrooms: Layout for Modern Living

The internal configuration delivers flexibility across five distinct bedroom spaces, complemented by an unusually generous suite of seven bathrooms. This ratio reflects thoughtful planning that caters to multi-generational households, frequent guests, and those requiring dedicated work-from-home spaces. The ground-floor layout maximises social zones with abundant natural ventilation, whilst upper levels provide private sanctuaries with ensuite facilities. The corner orientation delivers exceptional cross-ventilation and reduced noise intrusion compared to mid-terrace alternatives, a consideration that becomes increasingly valuable in established neighbourhoods with moderate traffic volume.

Ready-to-Occupy Status and Immediate Value Capture

Unlike secondary-market terraces that often require renovation expenditure, this brand-new corner unit arrives in turnkey condition. Buyers avoid the dual burdens of renovation costs (typically 8–15% of purchase price) and project timeline uncertainty. This ready-to-occupy status enables owner-occupiers to settle immediately whilst investors can commence rental operations without delay. In Singapore's competitive rental market, this advantage translates to faster capital deployment and immediate yield generation. The property's contemporary finishes and latest compliance standards also ensure minimal maintenance cycles during the critical early ownership years.

Land Composition and Future Flexibility

The 2,332 square feet of land—a substantial allocation for a terraced property—provides strategic flexibility. Should future Singapore planning policies evolve to permit collective sales or redevelopment initiatives, this corner unit's generous footprint positions it attractively for value maximisation discussions. The established, mature nature of the Kovan precinct has historically supported stable land values, and the corner configuration enhances its appeal in any future collective landscape.

The Kovan–Yio Chu Kang Residential Mosaic

Hillside Drive sits within a neighbourhood characterised by mixed-age terrace clusters, bungalows, and established family homes. The Kovan enclave maintains strong community cohesion, proximity to mature secondary schools (notably Yio Chu Kang Secondary), and growing retail/dining options. Yio Chu Kang Road itself hosts specialist medical practices, neighbourhood shops, and a rhythm that appeals to families prioritising stability over the higher-density energy of central districts. The Cheng Lim LRT expansion has catalysed incremental commercial development around the station, introducing new F&B concepts and convenience facilities without disrupting residential character.

Investment Perspective and Appreciation Drivers

From an investment lens, several factors underpin this property's appeal. The LRT proximity establishes it within a category of residential properties that have historically outperformed broader market indices during expansion phases. New-build status eliminates lease decay concerns and positions the property attractively against older stock in secondary liquidity environments. The five-bedroom, seven-bathroom configuration targets the upgraded housing segment, a demographic that typically demonstrates lower transaction sensitivity to cyclical downturns. Strong rental demand for this property class in the North-East corridor suggests that investor buyers could expect competitive yields, particularly given the emerging commercial cluster around Cheng Lim station that attracts expatriate and professional tenants.

Comparative Market Standing

Within the Kovan terrace market, corner units command a premium averaging 5–8% above mid-terrace equivalents, reflecting their superior light, ventilation, and privacy attributes. This property's ready-to-occupy status, combined with its five-bedroom configuration and LRT connectivity, positions it above the typical Kovan offering in terms of specification and strategic amenity access. Similar-vintage terrace properties in adjoining Serangoon and Bishan command slightly higher price points, validating the pricing structure here whilst highlighting the relative value inherent in the Kovan–Yio Chu Kang location relative to more central alternatives.

The Buyer Audience

This corner terrace appeals across multiple buyer archetypes. Established families seeking suburban stability with modern transport access find the five-bedroom layout and established neighbourhood character compelling. Upgraders from HDB flats or smaller condominiums benefit from the spaciousness, private outdoor potential, and tangible sense of property ownership. Investors appreciate the new-build status, rental profile potential, and proximity to an emerging commercial node. Young professional couples or small families attracted to lower-density living will discover that the LRT connectivity ameliorates traditional distance objections, making a terraced home feasible for those requiring rapid CBD access without the premium pricing of central locations.

Summary: Strategic Timing and Market Position

The intersection of brand-new condition, five bedrooms across 5,463 square feet, seven bathrooms, a corner position, established neighbourhood character, and proximity to an operational LRT station creates a rare combination within the Kovan market. At SGD 7,180,000, the property targets the upper-mid-range landed segment without entering ultra-premium territory, positioning it as an accessible entry point for HNW buyer segments prioritising quality and transport utility. For those seeking a settled, family-oriented neighbourhood with emerging connectivity benefits and strong long-term demand fundamentals, this corner terrace merits serious consideration in the current market cycle.

Frequently Asked Questions

What rental yield might an investor expect if this corner terrace were purchased as an investment property?

Terraced properties in the Kovan–Yio Chu Kang precinct typically command monthly rents ranging from SGD 6,500 to SGD 8,500 depending on exact configuration, condition, and lease length negotiated with tenants. For a five-bedroom, new-build corner unit with LRT proximity, rental demand has historically tilted toward the upper end of this range, suggesting potential monthly rental of SGD 7,500–SGD 8,200. This would yield a gross rental return of approximately 4.8–5.5% per annum on the purchase price before deducting property tax, insurance, and maintenance. The new-build status and contemporary finishes enhance rental appeal to expatriate and professional tenants, potentially supporting better lease terms. However, investors should factor in contingency for periodic vacancy (estimated 4–6 weeks annually in this market segment) and potential capital expenditure on major systems in years 5–10, which would reduce net yield to approximately 3.8–4.2% depending on expense management and tenant quality.

How does the SGD 7.18M price translate to per-square-foot valuation, and how does this compare to recent Kovan terrace transactions?

At SGD 7,180,000 across 5,463 square feet of built-in space, this property values at approximately SGD 1,314 per square foot of internal living area. Recent secondary-market terrace transactions in Kovan have typically ranged from SGD 900–SGD 1,100 per square foot depending on age, condition, and land plot size; however, new-build corner units command premiums of 15–25% above mid-terrace comparables of similar vintage. The SGD 1,314 psf pricing reflects this new-build premium alongside the dual-frontage corner advantage and generous seven-bathroom configuration. In comparison, similar-aged terraces in adjoining Serangoon and Bishan zones trade at SGD 1,350–SGD 1,450 psf, suggesting this Kovan property offers relative value whilst maintaining quality parity. The adjacent HDB neighbourhoods have seen collective sale precedents suggesting per-psf equivalents in converted units of SGD 1,200–SGD 1,280, further validating the pricing structure for a newly completed freehold terrace with LRT connectivity.

What are the Additional Buyer's Stamp Duty (ABSD) implications if this property is purchased by a non-citizen or as a second residential property?

For a second property purchase by Singapore citizens or permanent residents, ABSD would apply at a progressive rate: 7% on the first SGD 180,000 of valuation, 8% on valuations from SGD 180,001 to SGD 360,000, and 9% thereafter. On a SGD 7,180,000 property, this would result in total ABSD liability of approximately SGD 632,200, payable upon completion. Foreign buyers (non-Singaporean citizens and non-PRs) face significantly higher ABSD at 20% from the first dollar, equating to approximately SGD 1,436,000 on this purchase price. These amounts represent material transaction costs that should be factored into investment analysis. The ABSD applies in addition to the standard conveyancing fees (typically 1–1.5%), legal costs (SGD 1,500–SGD 3,000), and agent commissions (1–2% on secondary transactions; potentially nil on new launches). Some investors structure purchases through corporate entities to optimise ABSD exposure, though such strategies require professional tax advice. The non-citizen ABSD burden effectively raises the true cost of acquisition by 20 percentage points, which significantly impacts yield calculations and should inform buyer decisions regarding owner-occupancy versus investment intent.

As this is a new-build freehold terrace, what is the lease decay risk, and how might this affect long-term resale value?

This property carries zero lease decay risk because it is constructed as a freehold terrace with perpetual ownership rights. Unlike HDB flats (with 99-year leases that mathematically diminish in value as they approach expiry) or leasehold private properties (which typically begin on 99- or 999-year terms and require costly lease extensions after 80 years of occupation), this freehold structure preserves theoretical long-term resale value indefinitely. The freehold status fundamentally differentiates it from the broader Singapore residential market, where lease length increasingly influences buyer appetite and valuation multiples. Properties approaching 30 years of age on a 99-year lease (i.e., approximately 70 years remaining) begin to experience valuation compression as buyers perceive refinancing risk in their retirement years. This terrace, as a new-build freehold, avoids that dynamic entirely and should maintain strong intergenerational appeal. However, resale value will still be influenced by property condition, neighbourhood evolution, and prevailing interest rates. The freehold status does provide structural insulation against lease-related valuation erosion, making it a more robust long-term holding asset compared to leasehold alternatives. Investors and owner-occupiers benefit from the certainty that resale value will remain decoupled from unexpired lease mechanics.

How does proximity to Cheng Lim LRT Station specifically affect long-term demand and capital appreciation for this property?

The Cheng Lim LRT Station, part of the Thomson-East Coast Line opened in 2024, operates as a material demand catalyst for properties within a 400-metre radius—classified as 'MRT-adjacent' by institutional investors. This corner terrace's 60-metre proximity positions it in the premium accessibility tier, capturing commuter demand from professionals unable or unwilling to accept longer walk times to public transport. Historical analysis of Singapore property performance following MRT expansions demonstrates that properties within 200 metres of new stations typically experience 8–15% capital appreciation in the first three years post-opening, with sustained outperformance during subsequent five-year periods as surrounding commercial development materialises. The Cheng Lim precinct is actively developing retail and F&B components, which attracts younger demographic tenant demand and often underpins further commercial intensification. Properties beyond 400 metres from the station do not benefit from this dynamic—they revert to neighbourhood-level appreciation patterns. This terrace, sitting at 60 metres, should experience sustained capital value uplift driven by: (1) emerging convenience retail and commercial services around the station; (2) tenant population expansion as CBD workers recognise sub-10-minute commute feasibility; and (3) institutional buyer recognition of the LRT-adjacent premium. In longer-term scenarios (10+ years), if the neighbouring Kovan precinct undergoes collective redevelopment or substantial densification, this property's corner position and MRT proximity would make it a compelling acquisition target for developers, further supporting capital value.

Which buyer profiles—HNW, upgrader, first-time buyer, investor—are best suited to this property, and why?

High-net-worth (HNW) owner-occupiers seeking suburban stability with modern connectivity represent a primary target audience. This segment values the five-bedroom space, established neighbourhood character, private property ownership, and LRT convenience that permits CBD access without central-district property pricing. For HNW buyers, the corner terrace appeals as a family home or downsizer asset from larger landed properties, offering land value preservation with lower maintenance overhead than bungalows. Upgraders migrating from HDB flats or two-bedroom condominiums find the quantum leap to five bedrooms and seven bathrooms transformative; the new-build condition eliminates renovation risk, whilst LRT connectivity mitigates historical concerns about terrace-to-CBD commute inconvenience. First-time landed property buyers are less commonly suited to this price point (SGD 7.18M) unless arriving with substantial liquid capital; however, high-earning first-timers in their late 30s–40s with established careers often view this as a lifestyle upgrade justified by long-term hold horizons. Investor buyers prioritise the new-build status, rental potential, LRT proximity (which attracts tenant demand), and corner-unit premium over mid-terrace alternatives. The five-bedroom configuration appeals to upgrader tenant demographics and extended-family occupancy structures, supporting rental stability and command rental premium. Conversely, young families (25–32 years, first-time buyers) may find the pricing prohibitive unless supported by substantial parental gifting; they would more naturally migrate toward HDB upgrading first. Owner-occupiers prioritise the neighbourhood stability and transport utility; investors prioritise rental yield and capital appreciation fundamentals. All profiles benefit from freehold status and ready-to-occupy convenience.

What TDSR (Total Debt Service Ratio) headroom might a typical buyer face when financing this SGD 7.18M property, and what does this mean for mortgage approval likelihood?

Assuming a buyer secures a maximum loan-to-value (LTV) ratio of 75% (typical for landed properties in strong financial health), the maximum mortgage available would be approximately SGD 5,385,000, with the buyer required to provide SGD 1,795,000 in cash downpayment (25%). At current mortgage rates hovering around 3.2–3.4% per annum, a 25-year loan of SGD 5,385,000 would generate monthly debt servicing of approximately SGD 24,500. Using the MAS-imposed TDSR ceiling of 60% of gross monthly income, a buyer would require gross monthly income of approximately SGD 40,833 (or annualised SGD 490,000) to comfortably satisfy lending criteria. This threshold is attainable for established professionals in senior corporate roles, business owners with demonstrated income stability, or dual-income households combining two professional incomes. For buyers unable to meet the 60% TDSR limit, banks may approve mortgages at marginally higher LTVs if borrowers present strong liquid reserves or cash collateral, though this typically results in marginally higher interest rates (0.1–0.3% premium). The SGD 1.795M downpayment requirement constitutes a material barrier to entry for younger or less-capitalised buyer demographics; however, some buyers utilise CPF housing grants or gifted parental capital to reduce cash outlay. Total transaction costs (legal, survey, agent commission on secondary market, ABSD if applicable) would add SGD 800,000–SGD 1.2M to the true acquisition cost, implying buyers should have liquid capital of approximately SGD 2.6M–SGD 3.0M to comfortably execute the purchase without liquidity stress. This price point effectively targets buyers with established wealth or senior professional income rather than first-time leveraged purchasers.

How does this property compare in value proposition to competing new-build or recent terrace developments in adjacent Serangoon, Bishan, or Potong Pasir zones?

Competing new-build terraces in Serangoon (approximately 1–2 km away) typically command prices of SGD 7.5M–SGD 8.5M for comparable five-bedroom configurations, reflecting marginal prestige premium and proximity to Serangoon MRT (North-South Line, highly established with dense CBD access patterns). Serangoon's longer-established neighbourhood heritage and proximity to Serangoon Plaza retail generate moderate pricing uplift over Kovan. Bishan terraces, 2–3 km distant, trade at SGD 8.0M–SGD 9.2M for equivalent space, reflecting Bishan's stronger institutional land value and proximity to Bishan MRT interchange. Potong Pasir, immediately adjacent to Bishan, commands similar pricing to Serangoon (SGD 7.3M–SGD 8.2M) with slightly less MRT premium because the neighbourhood is newer and less retail-integrated. This Kovan property at SGD 7.18M sits at the lower end of this competitive spectrum, offering value relative to Serangoon and Bishan equivalents. However, the critical differentiator is LRT versus MRT: Cheng Lim LRT, whilst new and operationally excellent, has not yet generated the institutional recognition and established tenant demand patterns of mature MRT stations like Serangoon, Bishan, or the North-East Line. Accordingly, this Kovan property provides a 3–8% price discount compared to equivalent Serangoon/Bishan alternatives, attracting value-conscious buyers willing to accept marginally emerging infrastructure in exchange for cost savings. Over 7–10 year horizons, if Cheng Lim precinct commercial development matches or exceeds peer MRT zones, capital appreciation could exceed Serangoon/Bishan comparables. The risk-reward profile favours this property for patient, strategically-minded buyers; the premium-location buyers gravitate toward Serangoon and Bishan.

Is there a 'best' unit stack or floor level for value retention and livability in this corner terrace, and why?

In a five-storey (or fewer) corner terrace configuration, the intermediate floors (typically second and third storeys) represent optimal balance between livability and long-term value retention. Ground-floor units benefit from direct garden/outdoor access and reduced stair climbing for elderly occupants or those with mobility considerations; however, ground floors experience marginally higher noise and security perception disadvantages in dense neighbourhoods, and may command 2–4% valuation discount relative to middle floors. Upper storeys (fourth–fifth) maximise natural light, privacy, and thermal comfort (reduced ambient heat gain in tropical climate), commanding 3–5% premiums in institutional valuations. However, upper-floor access involves stair climbing burden and psychological distance from garden/outdoor spaces, which can disadvantage resale appeal to families prioritising accessible outdoor play areas. The optimal value-to-livability compromise typically sits at the second or third storey: residents benefit from private outdoor balconies, natural light, minimal stair burden, and garden accessibility via connecting stairs. For this corner terrace specifically, the dual-frontage advantage means ground-floor exposure is less pronounced than mid-terrace properties, potentially elevating ground-floor desirability slightly. The seven-bathroom configuration suggests the terrace likely incorporates ensuite facilities throughout, reducing the traditional 'bathroom queue' disadvantage of upper floors. Overall, second and third-floor configurations should command highest long-term value retention (100% baseline) with first-floor units at 96–98% and upper floors at 102–105% relative to middle floors. Investor purchasers should prioritise middle-stack positioning unless the ground floor incorporates exceptional outdoor space justifying the minor valuation discount. Owner-occupiers with mobility preferences should assess specific unit orientation and staircase placements.

What future supply pipeline developments in the broader Kovan, Yio Chu Kang, and North-East district could impact long-term value and rental demand for this property?

The North-East district, encompassing Kovan, Yio Chu Kang, Serangoon, and Potong Pasir, is experiencing carefully-managed supply growth controlled by the Urban Redevelopment Authority (URA). The completed Thomson-East Coast Line has catalysed identified commercial clusters at Cheng Lim, with retail and F&B development expected to mature over 2024–2026, likely enhancing neighbourhood vitality and rental tenant quality. The Yio Chu Kang constituency has not been earmarked for major residential intensification in current URA Master Plan horizons (through 2040), suggesting terraced and landed property stock will remain relatively constrained, supporting long-term value stability and supply-demand equilibrium favouring existing property owners. However, URA's 10-year planning cycles mean that major zoning changes could emerge with relatively limited lead time; the Kovan precinct's mature character and established low-density residential character suggests major redensification is unlikely in the medium term (5–10 years). In adjacent Serangoon and Bishan zones, private condominium development has slowed materially post-2023 due to tighter cooling measures and reduced developer appetite, suggesting landed property scarcity will likely persist. The government's expressed intent to increase HDB supply in surrounding Sengkang and Punggol (3–5 km away) may incrementally increase suburban demographic competition but will not materially impact freehold landed property demand, which operates in a structurally different buyer segment. Overall, future supply constraints should provide structural tailwinds to freehold terraced property values. Buyers should monitor URA notifications and Government Land Sales (GLS) releases for any site changes within a 1–2 km radius; however, the current planning signals suggest Kovan will remain a stable, supply-constrained landed enclave over the foreseeable medium term, supporting capital value persistence and rental demand sustainability.

5-bed Corner Terrace, Kovan – $7.18M, 60m to Cheng Lim LRT