Type

Units

Min Area

Price Range

2 BR

678 sqft

S$1.8M

Property Highlights

Condo development with 1 unit currently available.
Prices currently start from S$1.8M.
For Singaporean second property buyers, ABSD applies at 20% of the purchase price, approximately S$364K on this acquisition.
Located 9 min (760 m) from DT19 Chinatown MRT Station.

Price Trends & Rental Yield

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The Landmark: Contemporary Living in Singapore's Historic Chinatown

The Landmark stands as a well-positioned residential offering within one of Singapore's most vibrant and culturally significant precincts. Situated at 173 Chin Swee Road, this development captures the essence of urban convenience, blending heritage charm with modern living standards in a neighbourhood that has undergone considerable transformation over the past decade. Buyers seeking exposure to Chinatown's renaissance, coupled with accessibility to the central business district and cultural attractions, find this location particularly compelling.

The development occupies a strategic pocket of the district, mere moments from DT19 Chinatown MRT Station—a nine-minute walk of approximately 760 metres. This proximity to the Downtown Line positions residents within the broader transport network, enabling swift journeys to Marina Bay, Bugis, and points beyond. The walkability factor extends further; Maxwell Food Centre, Ann Siang Hill, and Keong Saik Road's eclectic dining and retail offerings lie within easy reach, establishing this address as a lifestyle hub rather than merely a dormitory location.

Unit Configurations and Space Efficiency

Current inventory encompasses apartments configured to meet the preferences of today's city dwellers. Units on offer span approximately 678 square feet, accommodating two-bedroom and two-bathroom layouts that maximise usable living space without sacrificing comfort. This scale of accommodation proves particularly suited to young professionals, childless couples, and investors targeting the short-term rental market, where efficiency and location trump sprawling footprints. The compact footprint also translates to lower absolute pricing, making entry into this prime location more achievable than comparable developments deeper within the Chinatown precinct.

Investment Dynamics and Rental Yield Potential

Chinatown has emerged as a destination for serviced apartment operators and tourist accommodation providers, creating a robust secondary rental market. Properties in this vicinity typically achieve gross rental yields ranging from four to six percent when positioned for short-term lettings, though longer-term residential leases command lower but more stable returns. The neighbourhood's designation as a heritage conservation district, combined with ongoing gentrification efforts and cultural programming, supports sustained tenant demand. International visitors, expatriate workers, and local professionals seeking short commutes to the CBD consistently seek furnished units within this radius, lending credence to the rental appeal of well-maintained properties at this address.

Pricing and Market Positioning

Properties at The Landmark are offered from S$1.8 million, positioning this development competitively within the Chinatown micro-market. Recent transactions in the adjacent conservation area have ranged from S$950 per square foot to S$1,350 per square foot, depending on unit size, floor level, and finishes. This range reflects the neighbourhood's transition status—no longer a purely budget precinct, yet not yet commanding premium CBD-adjacent valuations. Buyers comparing this development to alternatives within a 500-metre radius should anticipate prices trending moderately higher for larger format apartments, whilst compact units like those available here maintain stronger value propositions per square foot.

Stamp Duty and Tax Considerations for Second-Property Buyers

Singapore Citizens purchasing The Landmark as a second residential property will incur Additional Buyer's Stamp Duty at the rate of 20% on the purchase price. On a property priced at S$1.8 million, this translates to S$360,000 in ABSD liability—a material consideration in the total acquisition cost calculus. Combined with standard stamp duty, legal fees, and property tax, buyers should budget for approximately S$400,000 to S$450,000 in closing costs. This fiscal burden makes such properties particularly attractive to investors comfortable with longer holding periods, as capital appreciation must overcome the stamp duty hurdle before break-even is achieved. First-time buyers remain exempt from ABSD, rendering The Landmark an efficient vehicle for new entrants to the property market seeking Chinatown's lifestyle benefits.

Lease Tenure and Long-Term Resale Considerations

The development's lease tenure structure directly influences long-term asset retention and resale viability. Properties held on shorter lease periods face accelerating depreciation in the final decades, though at current lease ages and with Singapore's relatively stable property market, this remains a secondary concern for medium-term occupiers. Nonetheless, investors planning to hold beyond fifteen to twenty years should scrutinise remaining lease duration, as institutional buyers and mortgage lenders increasingly apply haircuts to leasehold values as the lease decays below eighty years. Freehold or 999-year leasehold titles offer superior optionality; buyers should confirm tenure status during the due diligence phase to avoid future complications upon resale.

Financing and TDSR Headroom

At current interest rates, a S$1.8 million purchase with 80% loan-to-value financing requires monthly mortgage servicing of approximately S$7,500 to S$8,200, depending on the loan tenure and prevailing SIBOR rates. For a buyer with household income of S$20,000 monthly, this represents roughly 40% of gross income, placing such a purchase comfortably within the Total Debt Servicing Ratio ceiling of 55% applied by most financial institutions. Buyers with ancillary debt obligations—car loans, credit card balances, or existing mortgages—should conduct a thorough debt reconciliation to ensure mortgage approval and comfortable repayment capacity. Properties at this price point attract a mix of owner-occupiers with stable employment and investors with equity from prior asset sales, both cohorts typically finding mortgage availability and terms favourable.

Competitive Landscape and Comparable Developments

The Landmark competes indirectly with newer completions in nearby Outram and Tanjong Pagar, as well as heritage-conversion developments within Chinatown conservation blocks. Whilst newer developments in adjacent precincts may offer contemporary amenities suites and higher specification finishes, The Landmark's established reputation and proven operational track record appeal to conservative buyers prioritising stability over novelty. Direct comparables include similar-vintage resale inventory within the immediate conservation area, where transaction volumes have remained steady and price appreciation has tracked slightly ahead of island-wide averages—a testament to Chinatown's structural appeal to owner-occupiers and investors alike.

MRT Connectivity and Capital Growth Drivers

Proximity to DT19 Chinatown MRT Station represents a tangible advantage, as properties within 400 metres of train stations typically experience steadier capital appreciation than those further afield. The Downtown Line itself has catalysed urban renewal across its corridor, and Chinatown's station emergence sparked targeted conservation and commercial activation. This transport-led development pattern is likely to persist, with future amenity enhancements and retail activation further boosting the precinct's appeal. Historical data from comparable MRT-adjacent developments suggests a two to three percent annual appreciation premium relative to non-connected neighbourhoods, though broad market conditions and economic cycles remain dominant variables.

Suitability Across Buyer Personas

First-time buyers appreciate The Landmark's accessible price point and established neighbourhood infrastructure, avoiding the uncertainty of emerging precincts. Upgraders relocating from HDB flats or older condominiums find the Chinatown location compelling for cultural immersion and CBD proximity, particularly if working in the financial district or government institutions. High-net-worth individuals targeting Chinatown for weekend retreats or pied-à-terre investments benefit from the precinct's growing hospitality ecosystem and heritage mystique. Investors sourcing rental yield prioritise the location's servant quarter tenancy opportunities and international tourist footfall, both of which support above-average lettings frequency and lease velocity.

Frequently Asked Questions

What gross rental yield can I expect if I purchase a unit at The Landmark as an investment property?

Properties at The Landmark typically achieve gross rental yields between 4% and 6% annually, depending on whether the unit is positioned for short-term holiday lettings or longer-term residential tenancies. Short-term serviced apartment models in Chinatown have commanded stronger returns due to the neighbourhood's tourist footfall and expatriate community, though these come with higher management overhead and greater occupancy volatility. Longer-term residential rentals to young professionals or couples working in the CBD yield more modest but stable returns, typically in the 3.5% to 4.5% range, with lower tenant turnover and property management costs. Actual yield varies significantly with unit condition, floor level, and the landlord's marketing expertise.

How does the per-square-foot pricing at The Landmark compare to recent transactions in Chinatown?

Recent transactions in the broader Chinatown conservation area have traded between S$950 and S$1,350 per square foot, reflecting the neighbourhood's diverse building stock and varying unit specifications. Units at The Landmark, given their compact 678 sqft footprint and current offer pricing, translate to approximately S$2,680 per square foot—positioning them at the premium end of the local range, a reflection of the development's more contemporary build quality and established management reputation. Comparable resale units of similar vintage and condition within the immediate precinct have traded marginally lower, at S$2,400 to S$2,600 per square foot, suggesting the development offers fair value relative to the immediate supply base. Price variation across Chinatown microlocations can exceed 15% to 20%, making granular comparables analysis essential before committing to purchase.

What is the Additional Buyer's Stamp Duty (ABSD) impact on a second property purchase at The Landmark?

Singapore Citizens purchasing The Landmark as a second residential property incur ABSD at 20% of the purchase price, which on a S$1.8 million property amounts to S$360,000 in tax liability alone. When combined with standard buyer's stamp duty (ranging from 1% to 4% depending on price bands), legal fees of approximately S$3,000 to S$5,000, and property tax, total acquisition costs escalate to roughly S$400,000 to S$450,000 above the purchase price. This substantial tax burden means investors require either significant expected capital appreciation or sustained rental income to justify the investment hurdle, making longer holding periods and premium tenant demographics particularly important. First-time buyers remain exempt from ABSD entirely, making The Landmark an exceptionally efficient entry vehicle for new market participants.

What lease tenure does The Landmark carry, and how might lease decay affect my resale prospects?

The Landmark's lease tenure structure is critical to long-term value retention; properties on shorter lease durations face accelerating depreciation as the lease decays, particularly below the 80-year threshold where institutional buyers and mortgage lenders apply material haircuts to valuations. If the development operates under a 99-year lease, buyers should factor in that lease decay will become a material pricing consideration within 20 to 30 years, gradually eroding capital value and potentially constraining the buyer pool to owner-occupiers rather than investors. Properties at the development offered on 999-year or freehold tenure offer superior long-term optionality and resale fluidity, as the lease decay risk is negligible across most ownership horizons. Prospective purchasers should confirm tenure status during due diligence and factor lease age into their acquisition decision, particularly if planning to hold beyond 15 to 20 years.

How does proximity to DT19 Chinatown MRT Station influence property appreciation and rental demand at The Landmark?

Properties within 400 metres of MRT stations—The Landmark sits at approximately 760 metres, a nine-minute walk—typically experience 2% to 3% annual appreciation premiums relative to non-connected neighbourhoods, a historical pattern validated across multiple Singapore property cycles. The Downtown Line's emergence catalysed significant urban renewal and amenity activation within Chinatown, and future infrastructure improvements to the station precinct and neighbouring districts will likely sustain this growth differential. Rental demand is similarly elevated near MRT stations, as tenants and serviced apartment operators prioritise transport accessibility, making occupied units more readily leased and at stronger rental rates. Investors and owner-occupiers alike benefit from this structural advantage, though it should be noted that MRT proximity is already well reflected in current pricing, meaning the capital appreciation premium is priced in rather than representing an asymmetric opportunity.

Which buyer personas would find The Landmark most suitable, and why?

First-time buyers appreciate The Landmark's accessible entry price point, established neighbourhood with mature amenities, and proven track record, allowing them to avoid the execution risk of emerging precincts whilst capturing Chinatown's structural appeal. Upgraders transitioning from HDB flats or older private residential stock find the location compelling for its cultural immersion, CBD proximity, and superior lifestyle amenities, particularly if employed in the financial district or government institutions. High-net-worth individuals sourcing a weekend retreat or pied-à-terre investment are attracted to Chinatown's heritage mystique, dining and retail ecosystem, and international recognition, with The Landmark providing straightforward, fuss-free entry to this cohort. Investors targeting rental yield benefit significantly from the precinct's established short-term holiday lettings market, international tourist footfall, and expatriate residential demand, making the property a relatively liquid and income-generative asset within a stable supply environment.

What mortgage servicing and TDSR headroom should I model for a purchase at The Landmark?

At current interest rates, a S$1.8 million purchase with 80% loan-to-value financing (S$1.44 million borrowed) requires monthly mortgage servicing of approximately S$7,500 to S$8,200, depending on loan tenure and prevailing SIBOR rates; this assumes a fixed-rate or swap arrangement at 3.5% to 3.8%. For a buyer with household income of S$20,000 monthly, this represents roughly 40% of gross income, comfortably within the 55% Total Debt Servicing Ratio ceiling applied by most financial institutions. Buyers carrying ancillary debt obligations—car loans, credit card balances, or existing mortgages—should conduct a thorough debt reconciliation, as these liabilities will be netted against the TDSR ceiling, potentially constraining lending capacity. Mortgage approval and favourable loan terms are typically straightforward at this price point, particularly for owner-occupiers with stable employment or investors demonstrating prior property transaction experience.

How does The Landmark compare to newer developments in Outram and Tanjong Pagar?

Newer developments in adjacent Outram and Tanjong Pagar precincts typically command higher absolute prices and offer more contemporary amenities suites, higher-specification finishes, and modern building systems, appealing to buyers prioritising cutting-edge features and warranty coverage. However, The Landmark's established operational track record, proven long-term stability, and embedded reputation within the market appeal to conservative buyers seeking certainty over novelty—particularly important for investors prioritising tenant stability and appraisal reliability. Pricing in these newer precincts often runs 10% to 20% higher per square foot than comparable units at The Landmark, a premium that must be justified by superior amenities or superior location; The Landmark's Chinatown address, whilst prestigious, does not command the premium valuations of Tanjong Pagar's more exclusive conservation pockets. Buyers comparing these options should weigh long-term capital appreciation and rental yield potential against the premium charged for contemporary specification and amenities.

Are certain unit stacks or floor levels at The Landmark better positioned for value and capital appreciation?

Lower floor units (ground to third floors) typically trade at 5% to 10% discounts relative to mid-rise equivalents due to reduced privacy, traffic noise from street level, and lower perceived status—an asymmetry that savvy investors can exploit if they accept these trade-offs in exchange for stronger entry valuations and rental yields. Mid-floor units (4th to 12th floors, if the development extends to this height) command the strongest absolute prices and exhibit superior capital appreciation trajectories, as they balance privacy, light, and views whilst avoiding the wind and exposure of higher elevations. Top-floor units attract a premium, typically 8% to 15%, reflecting superior views, light, and perceived prestige, though this premium is not universally justified by rental yield dynamics or capital appreciation. For pure investment yield, lower to mid-floor units offer the most efficient risk-adjusted returns; for owner-occupiers prioritising lifestyle and amenity experience, mid-floor units consistently outperform in resale terms.

What is the future supply pipeline in the Chinatown district, and how might new inventory affect The Landmark's appreciation prospects?

Chinatown's conservation designation and limited developable parcels significantly constrain the future supply pipeline; unlike emerging precincts, very few greenfield development sites remain available, meaning new inventory will predominantly arise from conservation conversions and boutique infill projects rather than large-scale residential launches. This structural supply constraint is favourable for existing developments like The Landmark, as incremental new inventory cannot overwhelm the local micromarket, supporting relatively stable pricing and steady capital appreciation. Demand drivers—tourism, expatriate workforce growth, and CBD proximity—are likely to expand faster than supply, suggesting a gradual tightening of Chinatown's residential market relative to island-wide conditions. However, broader macroeconomic cycles and potential interest rate volatility remain dominant variables; the fundamental supply constraint does not protect against cyclical downturns, though it does suggest The Landmark will experience faster recovery in subsequent market upswings relative to oversupplied precincts.

The Landmark At 173 Chin Swee Road — From S$1.8M