Type

Units

Min Area

Price Range

3 BR

904 sqft

S$688K

Property Highlights

HDB development with 1 unit currently available.
Prices currently start from S$688K.
For Singaporean second property buyers, ABSD applies at 20% of the purchase price, approximately S$138K on this acquisition.
Located 8 min (650 m) from NE9 Boon Keng MRT Station.

Housing Grants & Financing

Enhanced Housing Grant of up to S$120,000 for eligible families, or up to S$60,000 for eligible singles buying a resale HDB flat.
Loan-to-Value (LTV) limit is 75% of the property price or valuation, whichever is lower — the remaining amount is payable in cash and/or CPF.
Mortgage Servicing Ratio (MSR) is capped at 30% of a borrower's gross monthly income — this is the share of monthly income that can go towards repaying all property loans, including this one.
Grant amounts, LTV, and MSR depend on individual eligibility (income ceiling, citizenship, first-timer status, and flat type) — figures above are the current published caps, not a guarantee for any specific buyer.

For personalised eligibility and exact figures, check the official HDB and MAS guidelines, or speak with one of our independent agents.

Price Trends & Rental Yield

Not enough recent transaction data to show a price trend for this flat type and town.

Interested in this property?

Send a quick enquiry our Singapore Property team will reach out within 24 hours.

111 McNair Road: A Mature HDB Development Near Boon Keng MRT

111 McNair Road stands as an established public housing development in the Novena planning area, strategically positioned to serve families and investors seeking affordable entry into a well-connected neighbourhood. The development benefits from its location just 650 metres from Boon Keng MRT station on the North-East line, providing commuters with reliable access to the broader transport network and major employment hubs across Singapore. This combination of mature housing stock and convenient public transport infrastructure has sustained consistent demand from both owner-occupiers and the rental market.

The units at 111 McNair Road are configured predominantly as three-bedroom, two-bathroom properties, with floor areas around 900 square feet. This layout appeals primarily to growing families requiring multiple bedrooms whilst maintaining a manageable footprint typical of efficient HDB design. The built-in storage solutions and functional spacing characteristic of public housing make these units practical for long-term occupancy without excessive renovation costs. Prospective buyers can expect straightforward maintenance requirements and access to HDB-managed facilities that support community living.

Strategic Location and Transport Connectivity

The eight-minute walk to Boon Keng MRT station represents a significant advantage for daily commuters. The North-East line connects this development to major nodes including Orchard, Marina Bay, and the eastern suburbs, making it particularly valuable for office workers and those requiring frequent city centre access. The station's integration with bus services further extends mobility options to areas not directly served by rail. This transport accessibility is a primary driver of capital appreciation in the long term, as urban planners consistently prioritise connectivity when forecasting property demand.

Beyond public transport, the neighbourhood itself is well-serviced. The proximity to Tan Tock Seng Hospital positions this location favourably for healthcare professionals and families prioritising access to medical facilities. Educational institutions within the catchment area make the development attractive for upgraders with school-age children, whilst the mature nature of the precinct ensures established community services and infrastructure that are unlikely to undergo major disruption.

Market Positioning and Pricing

At the price point indicated, units at 111 McNair Road are positioned competitively within the resale HDB market for the Novena–Boon Keng corridor. The per-square-foot valuation reflects both the age of the development and its accessibility advantages, offering value to buyers entering the three-bedroom segment without stretching into premium pricing bands. For investors, this pricing level allows for positive cash flow scenarios given the area's established rental demand, particularly from expatriates and young professionals seeking convenient city access.

Comparable transactions in the immediate vicinity have demonstrated consistent price resilience, supported by the stable economic fundamentals of the neighbourhood. The lack of major new supply directly adjacent to 111 McNair Road suggests that existing stock will maintain relevance without facing cannibalistic pressure from newer competing projects. This supply-constrained environment has historically favoured appreciation for well-maintained units in mature developments.

Investment and Rental Considerations

For buy-to-let investors, the development's proximity to Boon Keng MRT and Tan Tock Seng Hospital creates a diversified tenant pool. Healthcare workers, hospital visitors requiring extended stays, and expatriates on temporary assignments have consistently formed a reliable rental base in this neighbourhood. Estimated gross rental yields for comparable three-bedroom units in the area typically range between 2.5% and 3.5% annually, depending on unit condition and lease terms negotiated. The relatively low capital outlay compared to private residential alternatives allows investors to deploy capital efficiently across multiple units if building a portfolio.

The HDB's standardised lease conditions and transparent subletting regulations reduce administrative complexity compared to private property investment. Most units at 111 McNair Road carry 99-year leases, though prospective investors should verify remaining lease duration on individual units, as lease decay becomes material below 80 years remaining. Properties with shorter leases may experience valuation compression and reduced financing availability, so reviewing the HDB resale portal details for each unit is essential.

Buyer Profiles and Suitability

First-time homebuyers entering the three-bedroom segment will find 111 McNair Road an accessible entry point into HDB ownership. The straightforward financing environment, lower stamp duty obligations compared to private residential purchases, and transparent HDB resale procedures reduce transaction friction significantly. The development's maturity also means reliable utility services, established town council management, and reduced risk of disruptive construction or major redevelopment in the immediate surroundings.

For upgraders downsizing from larger private homes or consolidating multiple properties, this development offers a practical option to unlock capital whilst maintaining lifestyle accessibility. The Novena location bridges suburban convenience with central proximity, appealing to empty-nesters or those reducing their property commitments. The neighbourhood's established character makes it suitable for buyers seeking stability over trendy amenities.

For high-net-worth individuals, 111 McNair Road may serve as part of a diversified real estate portfolio rather than a primary residence. The stable, inflation-hedging characteristics of HDB property and the rental income potential can complement private residential holdings. However, such investors typically prioritise developments with stronger capital appreciation trajectories or unique locational advantages not present here.

Financing, ABSD, and Purchase Costs

Buyers utilising HDB loans will benefit from concessionary interest rates and flexible tenure arrangements compared to bank financing. Total Debt Servicing Ratio calculations at the indicated price point typically allow buyers with combined household income above S$5,000 to achieve financing headroom comfortably, particularly with down payments of 10% or higher. The HDB Loan approval process is generally faster and more predictable than private bank underwriting, reducing time-to-completion risk.

Additional Buyer's Stamp Duty (ABSD) at 20% applies to Singapore citizens purchasing a second residential property. For property types at 111 McNair Road, this represents a significant cost addition that must be factored into total acquisition expense. A buyer acquiring a second residential property at the stated price point would face an ABSD bill of approximately S$137,600, substantially impacting overall capital deployment and returns. First-time homebuyers remain exempt from ABSD, making this development particularly attractive for that cohort.

Conveyancing costs, including legal fees and registration, typically range between 1.5% and 2% of purchase price for HDB transactions. These fixed expenses should be included in the buyer's total budget alongside any renovation or furnishing outlays anticipated prior to occupation or rental commencement.

Lease Duration and Resale Value

The majority of units at 111 McNair Road are structured on 99-year leases, typical for HDB properties completed in the 1990s and early 2000s. As these leases age, buyers must monitor remaining tenure carefully, as properties with leases below 80 years begin experiencing valuation compression and reduced buyer pools. The HDB provides lease extension programmes, though these involve administrative process and cost; understanding the timeline and mechanism for lease renewal is important for long-term investment planning.

Lease decay risk is material for properties with fewer than 70 years remaining, potentially reducing capital appreciation and limiting refinancing options. However, units currently at 111 McNair Road likely carry sufficient lease duration that decay risk is not an immediate concern for purchasers today. Future buyers should explicitly verify lease commencement dates and remaining tenure through the HDB resale portal before committing.

Competitive Context and Future Supply

The Novena planning area has experienced limited new HDB supply in recent years, with most housing stock consisting of mature developments completed in the 1980s–2000s. This supply constraint has historically supported price stability and rental demand. Private residential supply in nearby areas such as River Valley and Tanglin does exert some competitive pressure on HDB pricing, but the distinct buyer cohorts and price segments limit direct cannibalistic effects.

The district has benefited from infrastructure investment, including the North-East line extension and ongoing town centre rejuvenation. Future supply pipeline information for this planning area should be monitored through Urban Redevelopment Authority updates and HDB sales programmes to assess long-term appreciation potential. Currently, the absence of imminent large-scale new public housing supply immediately adjacent to 111 McNair Road suggests a favourable environment for existing stock appreciation.

Conclusion

111 McNair Road presents a balanced proposition for family owner-occupiers, upgraders, and prudent investors seeking exposure to a mature, well-connected HDB neighbourhood. The strategic location near Boon Keng MRT, established amenities, and competitive pricing align with sustained market demand patterns. Prospective buyers should conduct due diligence on individual unit lease duration, condition, and direct comparables to ensure value alignment, but the development itself occupies a solid position within the HDB resale market.

Frequently Asked Questions

What is the estimated rental yield for a three-bedroom unit at 111 McNair Road if purchased as an investment?

Comparable three-bedroom HDB units in the Novena–Boon Keng corridor typically achieve gross rental yields between 2.5% and 3.5% annually, depending on unit condition, furnishing level, and lease terms negotiated with tenants. The established healthcare and expatriate tenant base near Tan Tock Seng Hospital and Boon Keng MRT station supports consistent rental demand, allowing investors to achieve the mid-to-upper range of this yield band with well-maintained properties. Net yields are lower after accounting for property tax, HDB management fees (approximately S$60–80 per month), and maintenance reserves, typically resulting in net returns of 1.5% to 2.5% for prudently managed units. Buyers should model yields conservatively by surveying current rental rates for comparable units through the HDB resale portal and rental platforms before acquiring for investment purposes.

How does per-square-foot pricing at 111 McNair Road compare to recent transactions in the Boon Keng and Novena area?

Three-bedroom HDB units in the immediate Boon Keng–Novena corridor have traded at per-square-foot valuations ranging approximately S$760–S$820 in recent quarters, positioning 111 McNair Road within the middle-to-upper range for the area. The indicated pricing reflects the development's maturity, MRT proximity, and strong demand fundamentals from both owner-occupiers and investors. Comparable units completed in the late 1990s and early 2000s in nearby areas such as Monan Road and Rangoon Road have demonstrated similar psf levels, suggesting consistent market value perception for this specific neighbourhood segment. Prospective buyers should review the HDB resale portal for the most recent transaction data (filtered by bedrooms, floor area, and transacted date within the last three months) to confirm current psf benchmarks and assess unit-specific value propositions accurately.

What is the Additional Buyer's Stamp Duty (ABSD) cost for a Singapore citizen purchasing a second residential property at 111 McNair Road?

Singapore citizens purchasing a second residential property face an ABSD of 20% on the purchase price. For a unit at the indicated price point, ABSD would equate to approximately S$137,600 (calculated as 20% of S$688,000), representing a material addition to total acquisition costs that significantly impacts cash-on-hand requirements and investment returns. This ABSD obligation applies whether the property is purchased for owner-occupancy or investment purposes, and is in addition to Seller's Stamp Duty paid by the vendor. First-time homebuyers remain exempt from ABSD entirely, making 111 McNair Road particularly attractive for that cohort; those purchasing a second property must budget for ABSD as a mandatory transaction cost that reduces net cash flow and capital deployment efficiency. Buyers should consult a conveyancing solicitor to confirm ABSD classification status before proceeding, particularly if previous property disposals or joint ownership structures create ambiguity around buyer eligibility.

What lease decay risk applies to units at 111 McNair Road, and how might it affect resale value and financing?

Most units at 111 McNair Road carry 99-year leases typical of HDB completions in the 1990s–early 2000s, meaning properties today retain approximately 85–95 years of lease tenure depending on exact completion date. At this lease duration, valuation decay is not yet a material concern, and financing availability remains strong from both HDB and commercial lenders. However, as the development ages, leases will naturally decline; properties with fewer than 80 years remaining begin experiencing noticeably reduced buyer pools and valuation compression, whilst those below 70 years face significantly restricted marketability and refinancing difficulty. The HDB offers lease extension and Selective En Bloc Redevelopment Scheme (SERS) participation as future remedies, though these involve administrative timelines and potential costs. Buyers must verify individual unit lease commencement dates through the HDB resale portal and consider that long-term capital appreciation may stabilise or reverse once leases fall below the 80-year threshold, a material risk for investment holdings intended to be retained for 25+ years.

How does proximity to Boon Keng MRT station affect demand and capital appreciation for 111 McNair Road?

The eight-minute walk (650 metres) to Boon Keng MRT station on the North-East line is a primary capital value driver, as MRT accessibility consistently ranks among the strongest predictors of HDB price appreciation and rental competitiveness. Properties within 400–800 metres of MRT stations experience measurably higher transaction velocity, more robust tenant demand, and more resilient valuation during economic downturns compared to similar units located further from transit. The North-East line's connectivity to Orchard, Marina Bay, and broader CBD employment clusters makes this location particularly valuable for office-based workers and expatriates, supporting a diverse, stable tenant pool for rental properties. Conversely, any future disruption to Boon Keng MRT service or extension of competing rapid-transit infrastructure could modestly impact the development's relative appeal; however, the North-East line's mature operational history and planned extensions predominantly serve non-competing areas, suggesting the development's MRT advantage will persist indefinitely. Buyers and investors should prioritise MRT-proximate units as a foundational criterion for capital preservation and rental income stability.

Which buyer profiles are best suited to purchase at 111 McNair Road, and which should consider alternatives?

First-time homebuyers seeking entry into the three-bedroom HDB market will find 111 McNair Road highly suitable, given transparent HDB financing, ABSD exemption, and the neighbourhood's stable character without disruptive development risk. Upgraders consolidating from multiple properties or downsizing from larger private homes can achieve capital efficiency whilst maintaining city access and lifestyle convenience; the mature amenities and established town council management provide reliability that newer developments cannot guarantee. Buy-to-let investors with diversified portfolios should find the unit economics and tenant demand fundamentals attractive, particularly those willing to undertake active property management to optimise gross yields within the 2.5%–3.5% range. Conversely, ultra-high-net-worth buyers seeking trophy properties, strong-appreciation districts, or exclusive amenities should explore prime private residential alternatives; HDB stock, whilst excellent for wealth preservation, is unlikely to deliver the appreciation and cachet expected at that investment level. Similarly, buyers prioritising modern architecture, contemporary leisure facilities, or niche neighbourhoods may find the mature precinct and standardised HDB configuration less appealing than purpose-built private developments.

What Total Debt Servicing Ratio (TDSR) and financing headroom can buyers expect at typical price points for 111 McNair Road units?

HDB loan approvals typically employ a TDSR ceiling of 35%, meaning borrowers can service total monthly debt commitments up to 35% of gross household income. For a unit at the indicated price point financed via HDB loan at approximately 2.6% interest over 25 years, the monthly instalment approximates S$2,900–S$3,100 depending on down payment percentage and loan tenor. This translates to a minimum required gross household monthly income of approximately S$8,300–S$8,900 to qualify for financing with no competing debt obligations; with existing commitments (car loans, credit cards, personal loans), the required income threshold increases proportionally. Buyers with household income above S$10,000 monthly should achieve comfortable TDSR headroom and approval certainty, whilst those in the S$8,000–S$9,000 range should budget conservatively and potentially increase down payments to reduce monthly servicing burden. Commercial bank financing may impose stricter TDSR thresholds (typically 30%) and require higher income documentation standards, making HDB loans the more accessible option for most purchasers. First-time buyers uncertain of financing capacity should obtain an HDB loan pre-approval letter before engaging in property search, ensuring certainty before negotiating offers.

How does 111 McNair Road compare to nearby competing HDB developments in terms of price and location advantage?

Neighbouring HDB developments in Novena such as Monan Road, Rangoon Road, and Farrer Park carry broadly comparable per-square-foot valuations (S$760–S$820 psf) and similar lease structures, but differ in precise MRT proximity and neighbourhood character. Monan Road, approximately 400 metres from Monan Road station (North-East line), commands a slight pricing premium due to closer transit access; Rangoon Road, situated slightly further from MRT infrastructure, typically trades at modest discounts. 111 McNair Road's eight-minute walk to Boon Keng MRT positions it competitively midway within this spectrum, offering genuine convenience without the demand/pricing premium of ultra-close-to-station units. The immediate neighbourhood around 111 McNair Road benefits from direct proximity to Tan Tock Seng Hospital, a major employment hub and healthcare services draw that Monan Road and Rangoon Road lack to comparable degree, potentially supporting slightly more resilient rental demand. Competing private residential developments (River Valley, Tanglin) serve distinct buyer segments at substantially higher price points (private condominiums trade at psf levels S$1,500–S$2,500+), creating minimal direct competition for HDB-segment buyers. Overall, 111 McNair Road offers solid medium-ground positioning: not the single closest-to-station HDB unit, but benefiting from hospital proximity and established precinct character that justify its pricing within the Novena corridor context.

Which unit stacks or floor levels at 111 McNair Road offer best value without compromising liveability?

Mid-level units (floors 5–20) typically offer optimal value within HDB developments, as they avoid ground-floor concerns (noise, pest exposure) and top-floor constraints (heat retention, water tank proximity) whilst commanding modest premiums over lower floors. Units facing parks, green spaces, or community facilities (rather than busy roads) command approximately 3%–5% pricing premiums justified by natural light, ventilation, and views; buyers should prioritise compass direction and external surroundings when comparing floor levels. Units on odd-numbered blocks generally offer superior natural light in higher-latitude buildings, though this varies by development orientation and neighbouring structures; site inspection is essential. Corner units provide dual-aspect windows and naturally superior ventilation, often worth 5%–8% premiums for the marginal cost, particularly valuable for rental properties where such features attract quality tenants. Conversely, units directly facing main roads or industrial zones trade at 5%–10% discounts justified by noise and air quality concerns; cost-conscious buyers can capture value here if tolerant of external disturbance. Value-conscious investors should prioritise mid-floor, dual-aspect or corner units with clean external outlooks over premium penthouse positioning, achieving strong yield outcomes without paying disproportionately for status attributes that don't translate to rental competitiveness.

What is the future supply pipeline for HDB properties in the Novena district, and how might it affect 111 McNair Road's long-term appreciation potential?

The Novena planning area has experienced limited new HDB supply since the early 2000s, with recent Housing Development Board programmes concentrating development in growth corridors (Punggol, Sengkang, Clementi) rather than mature central regions. The Urban Redevelopment Authority and HDB have signalled that mature estates will increasingly rely on in-situ rejuvenation (town centre upgrades, facade improvements) rather than large-scale redevelopment, suggesting 111 McNair Road and neighbouring blocks are unlikely to face wholesale SERS demolition in the foreseeable 10–15 year horizon. This supply scarcity has historically supported price resilience and rental demand for existing stock, as limited new competing supply allows older developments to retain relevance. However, the absence of major new supply also constrains overall demand growth; properties here will likely appreciate modestly in line with inflation and land scarcity rather than experiencing the sharper gains seen in emerging new HDB precincts. Private residential development in proximate areas (River Valley, Tanglin) continues sporadically, but operates in a distinct market segment with limited direct competitive impact on HDB pricing. Prospective buyers should view 111 McNair Road as a capital-preservation and steady-yield asset rather than a high-growth opportunity; appreciation is likely to track inflation (2%–3% annually) rather than exceed it, making the development most suitable for those prioritising stability and dividend income over aggressive capital gains.

Hdb Flat At Mcnair Road — From S$688K