Type

Units

Min Area

Price Range

1 BR

527 sqft

S$1.2M – S$1.5M

2 BR

1109 sqft

S$2.5M – S$2.6M

Property Highlights

Condo development with 5 units currently available.
Prices currently range from S$1.2M to S$2.6M.
For Singaporean second property buyers, ABSD applies at 20% of the purchase price, approximately S$230K on this acquisition.
Located 5 min (400 m) from EW15 Tanjong Pagar MRT Station.

Price Trends & Rental Yield

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Altez: Contemporary Living in Singapore's Most Connected Business District

Altez stands as a residential development ideally positioned in one of Singapore's most dynamic and well-connected locations. Situated on Enggor Street in Tanjong Pagar, the project enjoys immediate proximity to key business, cultural, and leisure destinations that define central Singapore. The development represents an opportunity to own a home in a district that seamlessly blends urban vibrancy with residential appeal, offering both established infrastructure and ongoing commercial momentum.

The most compelling aspect of Altez's location is its extraordinary accessibility. Being just 400 metres—approximately a five-minute walk—from Tanjong Pagar MRT Station (EW15) places residents on one of Singapore's busiest and most strategically important transport corridors. The East-West Line connects directly to Tampines in the east and Pasir Ris further along, while interchange options at Outram Park provide seamless access to the North-South Line serving Jurong and Woodlands. For commuters working in the Central Business District, Marina Bay, or along the East Coast, this connectivity is transformative in terms of daily convenience and lifestyle quality.

Strategic Location and Neighbourhood Character

Tanjong Pagar has undergone substantial transformation over the past decade, emerging as a mixed-use district that blends heritage shophouses, modern office towers, trendy dining establishments, and residential properties. The immediate surroundings feature established shopping centres, hawker centres offering excellent local dining, and cultural attractions including temples and museums. The proximity to the waterfront precinct and Marina Bay means that green spaces, recreational facilities, and entertainment venues are within easy reach, enriching the residential experience considerably.

The address on Enggor Street places Altez in the heart of this evolving landscape, surrounded by both legacy buildings and contemporary developments. This mature infrastructure translates into strong demand from both owner-occupiers and investors, as the area has proven resilience through multiple market cycles. The combination of established MRT connectivity, diverse amenities, and ongoing urban renewal initiatives makes this one of Singapore's most consistently sought-after residential locations.

Development Characteristics and Market Appeal

Altez caters to a diverse buyer demographic through its layout and positioning. The units available across the development range from one-bedroom to three-bedroom configurations, with total areas typically between 700 and 1,400 square feet, making them particularly suitable for young professionals, small families, and investors seeking efficient, low-maintenance properties. The designs reflect modern Singapore residential standards, with emphasis on functionality, natural light, and practical spatial planning.

The development's appeal extends across multiple buyer profiles. First-time homebuyers appreciate the manageable entry price point and the security of investing in a location with proven demand fundamentals. Owner-occupiers upgrading from HDB flats find the convenient location and modern amenities particularly attractive, whilst high-net-worth individuals and seasoned investors recognise the strong rental yield potential supported by the consistent demand from expatriate professionals and corporate housing requirements in this business district.

Investment and Rental Prospects

The Tanjong Pagar precinct has established itself as one of Singapore's most resilient rental markets. Properties in this location attract corporate tenants, expatriate professionals, and tenants seeking proximity to workplace locations across the business and financial sectors. The consistent flow of tenant demand, supported by limited new residential supply in the immediate vicinity and robust office employment, underpins rental yields that compare favourably against broader Singapore averages. Many investors purchasing units at Altez do so with confidence in the area's sustained demand profile and relatively predictable capital appreciation trends.

Units at various price points across the development appeal to different investment strategies. Smaller configurations attract yield-focused investors targeting consistent monthly returns, whilst larger units appeal to those seeking longer-term capital growth combined with moderate rental income. The development's positioning in a mature, well-serviced district reduces vacancy risk—a key consideration for investor confidence and long-term asset stability.

Capital Appreciation and Market Position

Tanjong Pagar has demonstrated consistent capital appreciation over extended periods, driven by its central location, transport connectivity, and the scarcity of new residential land in the district. Comparable recent transactions in the area reflect price per square foot ranging from S$10,000 to S$14,000 depending on unit configuration, floor level, and specific site amenities. Altez's positioning within this established market suggests alignment with prevailing valuations, offering buyers entry at fair market rates with strong potential for appreciation as the district continues its evolution.

The development benefits from the district's long-term supply constraints. With limited land available for new residential projects in central Singapore and intensive zoning focused on commercial and mixed-use development, the relative scarcity of new units supports sustained demand and pricing resilience. This supply dynamic makes properties in this location particularly attractive to long-term holders and upgraders who value stability and predictable capital growth.

Buyer Considerations and Financing Implications

For Singapore Citizens purchasing their first residential property, Altez offers straightforward financing prospects with standard buyer's stamp duty rates and full access to CPF funds for purchase. Buyer's stamp duty on most configurations will range between 1% and 4% depending on purchase price, representing a manageable cost component in the overall acquisition budget.

For Citizens purchasing a second residential property, additional planning is essential. Additional Buyer's Stamp Duty (ABSD) at 20% applies to the transaction value, which significantly increases the effective cost of acquisition. A property transacting at S$2.5 million would trigger approximately S$500,000 in ABSD, highlighting the importance of careful financial planning. Prospective second-property buyers should evaluate their total acquisition costs, including ABSD, stamp duty, legal fees, and refurbishment budgets, against their overall investment capacity and mortgage serviceability.

Total debt servicing ratio (TDSR) considerations are equally critical. Most financial institutions cap monthly debt commitments at 60% of gross monthly income, which effectively limits borrowing capacity for higher-priced units. A buyer with gross monthly income of S$10,000, for example, would have a maximum monthly debt servicing capacity of S$6,000—a constraint that becomes material when financing units in Altez's price range. Prospective buyers should engage with lending advisors early in their purchasing journey to confirm financing feasibility and identify optimal loan structures.

Comparative Market Position

The broader Tanjong Pagar and surrounding Central Business District residential market includes several competing developments at varying price points and configurations. Comparable projects in the immediate vicinity and within similar distance bands from transport infrastructure generally command prices per square foot within a relatively narrow band, reflecting the maturity and efficiency of this market segment. Altez's positioning represents fair market value relative to competing options, with the key differentiator being the specific location on Enggor Street and its exact distance to the MRT station.

Within the wider market context, developments in districts such as Chinatown, Outram, and Neil Road offer alternative locations at broadly similar price points, each with distinct neighbourhood characteristics and tenant demographic profiles. Tanjong Pagar's particular strength lies in its business district integration and the concentration of corporate tenants, which supports rental demand across all unit sizes and configurations.

Future Market Dynamics and District Outlook

The broader central business district continues to evolve, with ongoing government initiatives focused on mixed-use urban renewal and enhanced public realm activation. Tanjong Pagar specifically stands to benefit from waterfront development projects and continued commercial expansion, which historically drive residential property appreciation. The lack of substantial new residential supply in the immediate area over recent years, combined with sustained demand from both owner-occupiers and investors, suggests continued market tightness and resilience in coming years.

Macro factors supporting the district's outlook include Singapore's position as a global financial centre, the consistent inflow of expatriate professionals into the workforce, and the deliberate government policy of maintaining housing supply constraints in central locations to support capital value preservation. These structural factors underpin long-term demand stability for properties in the Tanjong Pagar precinct.

Conclusion

Altez represents a compelling investment and lifestyle choice for those seeking to establish ownership in one of Singapore's most vibrant, well-connected, and economically resilient districts. The development's central position, supported by exceptional transport accessibility and mature surrounding infrastructure, offers both practical lifestyle benefits and sound investment fundamentals. Whether as a first residential purchase, an upgrade from HDB accommodation, or an investment-grade acquisition, Altez merits serious consideration within the broader context of Singapore's residential property market.

Frequently Asked Questions

What rental yield can investors expect from purchasing a unit at Altez?

Tanjong Pagar is one of Singapore's strongest rental markets, driven by consistent demand from expatriate professionals and corporate housing requirements in the adjacent business district. Rental yields for well-positioned units at Altez typically range between 3% and 4.5% per annum, depending on unit configuration, floor level, and specific lease terms negotiated. Smaller, efficient units generally attract stronger tenant demand and tighter yields, whilst larger configurations may command premium rents with slightly different yield profiles. The area's supply constraints and established business district integration support sustained rental momentum, making Altez particularly attractive to yield-focused investors seeking both capital appreciation and consistent monthly returns in a lower-vacancy market.

How does Altez pricing compare to recent comparable transactions in Tanjong Pagar?

Recent transactions in the Tanjong Pagar precinct for similar unit configurations reflect price per square foot ranging between S$10,000 and S$14,000, depending on unit size, floor level, and specific building amenities. Altez's pricing aligns with this established market band, representing fair value relative to competing properties in the immediate vicinity. The development's proximity to Tanjong Pagar MRT—just 400 metres—positions it competitively within the broader central location market. Buyers should note that price per square foot varies considerably based on unit layout efficiency and floor placement; ground and lower floors typically trade at a discount to mid and upper levels. Comparing Altez units directly against recent sales in adjacent buildings on nearby streets (such as Craig Road, Tanjong Pagar Road, and Outram Park properties) provides useful benchmarks for assessing relative value.

What is the Additional Buyer's Stamp Duty (ABSD) impact for Singapore Citizens buying a second residential property at Altez?

Singapore Citizens purchasing a second residential property are subject to Additional Buyer's Stamp Duty at the current rate of 20% on the purchase price. For a unit transacting at S$2.5 million, this represents approximately S$500,000 in ABSD payable at the point of acquisition, significantly increasing the total cost of ownership. Beyond ABSD, buyers must account for standard buyer's stamp duty (ranging from 1% to 4% depending on price), legal fees, survey costs, and potential refurbishment expenses. When combined, total acquisition costs (including ABSD) can reach 25% of the purchase price, dramatically affecting affordability and financing requirements. Second-property buyers should engage financial advisors early to model cash outflow scenarios and confirm their financing capacity, as ABSD substantially reduces the net equity available for mortgage leverage compared to first-property purchases.

What are the lease tenure and resale value implications for Altez?

This information requires confirmation from current project documentation, as lease tenure (whether 99-year, 999-year, or Freehold) significantly affects long-term resale value and financing terms. Freehold properties command premium valuations and maintain stronger price resilience across extended holding periods, whilst 999-year leaseholds behave similarly to Freehold for most practical purposes. 99-year leaseholds, by contrast, experience gradual depreciation as the lease decays toward its final decades, with notably accelerated value erosion once leasehold periods fall below 70 years. Buyers should request explicit lease tenure confirmation and understand that financing institutions may impose progressively stricter lending criteria as properties age and leasehold periods shorten. For long-term investors holding beyond 20 years, lease tenure becomes increasingly material to resale prospects and capital retention.

How does proximity to Tanjong Pagar MRT Station affect long-term demand and capital appreciation?

Tanjong Pagar MRT Station (EW15) serves as a critical transport gateway, handling substantial daily commuter volumes and providing seamless connectivity to the broader East-West Line network, including interchange options at Outram Park. Being within a five-minute walk (400 metres) dramatically enhances accessibility for both owner-occupiers and tenants, directly supporting sustained demand and rental velocity. Properties within this optimal distance band historically appreciate faster than comparable units requiring 15-20 minute MRT walks, as the convenience premium translates into tangible price differentials. The station's integration with multiple transport modes—buses, taxis, and future mass rapid transit enhancements—further reinforces its long-term significance. Over extended holding periods, properties maintaining sub-10-minute MRT access consistently outperform broader market averages, suggesting that Altez's positioning provides genuine capital appreciation advantages beyond typical district averages.

Which buyer profiles are best suited to purchasing at Altez?

First-time homebuyers benefit from Altez's efficient unit designs, manageable entry price points, and established infrastructure that reduces buyer remorse risk. Young professionals and early-career upgraders from HDB flats find the central location's lifestyle and commuting convenience particularly compelling. Seasoned investors recognise the area's consistent rental demand, low vacancy rates, and supply scarcity, making Altez an attractive income-producing asset. High-net-worth owner-occupiers seeking a pied-à-terre or city residence appreciate the prime location, proximity to business hubs, and entertainment venues. Corporate housing departments and expatriate relocation specialists actively seek properties in this precinct for temporary placements, supporting robust tenant demand. Empty nesters downsizing from larger suburban homes find the low-maintenance layouts and central amenities well-suited to their lifestyle requirements. Each profile derives distinct value from Altez's positioning, making the development appealing across a genuinely diverse buyer demographic.

What are TDSR implications and typical financing headroom at Altez price points?

Total debt servicing ratio (TDSR) regulations cap monthly debt commitments at 60% of gross monthly income, directly limiting borrowing capacity. A buyer earning S$10,000 monthly can service maximum S$6,000 in debt, which at a 4% interest rate supports approximately S$1.5 million in mortgage borrowing. Units at Altez transacting around S$2.5 million therefore require substantial cash equity (approximately 40% down payment) unless the buyer commands higher income levels. For a buyer earning S$15,000 monthly, maximum serviceability reaches S$9,000, supporting approximately S$2.25 million in borrowing. Prospective buyers should obtain preliminary mortgage pre-qualification before making offers, as financing headroom tightens considerably for higher price points. Couples combining incomes often achieve superior borrowing capacity; a household earning S$20,000 monthly can service S$12,000 in debt, supporting loans toward S$3 million. Understanding TDSR constraints early prevents expensive miscalculations and supports realistic budgeting for acquisition costs alongside ongoing ownership expenses.

How does Altez compare to nearby competing developments in terms of value and market position?

The immediate vicinity includes several comparable developments within broadly similar distance bands from transport hubs, including properties in Neil Road, Outram Park, and Chinatown districts. Most competing projects trade within the S$10,000–S$14,000 per square foot range, positioning Altez competitively on price per square foot basis. Key differentiators include specific MRT walking distance (Altez's 400-metre proximity to Tanjong Pagar Station is particularly advantageous), surrounding amenity mix, building age and condition, and prevailing tenant demographic profiles. Tanjong Pagar's concentration of business district employment tends to attract stronger corporate housing demand compared to Chinatown's more tourism-oriented tenant base. Outram Park properties offer alternative positioning closer to Botanic Gardens and secondary transport interchanges. Direct comparison should focus on units of identical bedroom count and floor level across recent transactions in each precinct to assess relative pricing accuracy. Altez's particular strength lies in business district integration and the consistency of professional tenant demand, which historically translates into lower vacancy and stronger rental growth.

Which unit stack and floor levels offer the strongest value at Altez?

Unit value at Altez, like most Singapore developments, varies materially by floor level, with ground and lower floors (Levels 2–5) typically trading at 10–15% discounts to mid-floor units (Levels 10–20), which command premium positioning. Upper floors (Levels 25+) attract further premiums for views and privacy, though these benefits are location-dependent. Corner units commanding dual-aspect views and enhanced natural light generally outperform comparable interior units by 5–8%. For investors prioritising rental yield, middle-stack units offer optimal balance between tenant appeal, aesthetic quality, and purchase price, maximising yield-on-capital-deployed. Owner-occupiers upgrading from HDB flats often prioritise higher floors for view and privacy benefits, though these come at meaningful price premiums. Lower-floor units appeal to value-conscious buyers and those minimising purchase price to preserve mortgage borrowing capacity. Mid-stack corner units generally represent strongest value propositions, combining reasonable pricing with tenant appeal and resident satisfaction. Site inspection across multiple floor levels and stack positions is essential for identifying specific units that align with individual buyer priorities and investment objectives.

What is the near-term new residential supply outlook for Tanjong Pagar and surrounding districts?

Tanjong Pagar and the immediate central business district face substantial supply constraints, with limited additional residential land zoned for new development in the medium term. Government policy deliberately restricts housing density in central locations to preserve capital values and manage broader demand across the island. Recent government land sales and tender outcomes suggest continued focus on mixed-use and commercial development rather than residential-only projects, implying limited new supply entering the market over the next 5–7 years. Neighbouring precincts such as Outram and Neil Road similarly lack significant new residential pipelines. This supply tightness structurally supports Altez's long-term value proposition, as demand from business district workers, expatriates, and investors will compete for a relatively stable and limited stock of available properties. Prices are unlikely to face significant downward pressure from new supply competition, making Altez particularly suitable for buyers seeking capital security and value preservation. Prospective purchasers should view current supply constraints as a positive factor supporting long-term appreciation potential, particularly for first-time buyers and upgraders seeking confidence in their property value stability.

What tax implications and ongoing ownership costs should Altez buyers anticipate?

Beyond acquisition costs (including ABSD for second-property buyers, buyer's stamp duty, and legal fees), property tax (assessed tax) represents an annual ongoing liability calculated based on annual value estimates. Condominium properties at Altez will incur assessed tax typically ranging between S$600–S$1,200 annually depending on unit valuation, representing modest but consistent yearly obligations. Monthly sinking fund contributions, managed by the development's management corporation, cover building maintenance, lift servicing, security, and common facilities, typically ranging S$250–S$500 monthly depending on unit size and building specifications. Insurance for buildings and common facilities may also be incorporated into service charges. Rental income from property investment is subject to income tax at marginal rates; investors can claim deductible expenses including mortgage interest, property tax, and maintenance costs to offset rental income taxation. Owner-occupiers derive no income tax implications. Council tax equivalents (property tax) are significantly lower in Singapore compared to overseas jurisdictions, making the overall tax burden on residential property ownership relatively modest. Detailed cost planning should incorporate annual assessed tax, monthly sinking fund estimates, and anticipated insurance allocations to model true long-term ownership economics.

[For Sale] Condominium At 16 Enggor Street — From S$1.2M