Type

Units

Min Area

Price Range

3 BR

1001 sqft

S$1.4M

Type

Units

Min Area

Price Range

Other

200 sqft

S$1,200/mo

Property Highlights

HDB development with 2 units currently available.
Prices currently range from S$1,200 to S$1.4M.
For Singaporean second property buyers, ABSD applies at 20% of the purchase price, approximately S$240 on this acquisition.
50% of current units are for sale, from S$1.4M; 50% are for rent, from S$1,200/mo.
Located 4 min (300 m) from EW10 Kallang 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.

115B Jalan Ayer: An Established HDB Development in Kallang's Heart

115B Jalan Ayer stands as a mature HDB estate in one of Singapore's most historically significant neighbourhoods. Located in the Kallang planning area, this development benefits from decades of infrastructural maturity and well-established community services that have made the district a consistent choice for owner-occupiers and investors alike. The proximity to Kallang MRT Station—merely a 4-minute walk or 300 metres away—positions residents at a gateway to rapid island-wide connectivity through the East-West Line.

The development's location within the Kallang precinct places it at a crossroads of practical convenience and urban heritage. Residents enjoy direct access to one of Singapore's busiest transport nodes, with the EW10 station serving as a major interchange for commuters heading towards the central business district, change-of-line opportunities at multiple junctions, and onward connections to the wider MRT network. This transit proximity has historically underpinned both rental demand and capital stability across HDB estates in the immediate vicinity.

Compact, Affordable Units for Diverse Buyer Profiles

The units available at 115B Jalan Ayer are designed as compact, space-efficient homes, with offerings measuring 200 square feet. These footprints appeal particularly to first-time homebuyers seeking an affordable entry point into the property market, as well as investors who recognise the strong lettability of smaller units in well-connected areas. The affordability threshold of this development remains competitive when positioned against newer launches across the eastern and central zones, whilst retaining the institutional stability and long-term resale liquidity characteristic of mature HDB estates.

For upgraders transitioning from rental or older properties, these units represent a pragmatic stepping-stone that preserves capital for future moves into larger formats or private residential options. The straightforward layout and modest maintenance profile appeal to owner-occupiers who prioritise accessibility over sprawling square footage. Investors, particularly those building a portfolio of smaller, high-turnover rental assets, find the yield characteristics and low tenant acquisition costs attractive in a development with this catchment and transport profile.

Rental Viability and Investment Potential

The investment case for 115B Jalan Ayer rests on several enduring factors. The proximity to Kallang MRT ensures a steady stream of tenants among working professionals, students, and short-term occupants who prioritise mobility and do not require expansive living arrangements. Rental demand in this district has remained resilient because the area continues to attract younger demographics and expatriates on assignment, both of whom typically seek compact, well-serviced accommodation near major transport hubs. The stable tenant base and predictable re-letting cycles make smaller units at this location suitable for those building yield-focused portfolios.

Given the modest unit sizes and established neighbourhood character, gross rental yields on units at 115B Jalan Ayer typically outperform larger HDB developments in less connected zones. The trade-off—lower absolute rental income per unit—is offset by faster tenant turnover cycles, lower vacancy risk, and the ability to acquire multiple units at lower capital outlay. For investors, this structure supports portfolio diversification without tying up excessive capital per asset.

Transport Connectivity and Long-Term Value Drivers

The EW10 Kallang MRT Station represents one of Singapore's most critical transport nodes. Beyond its role as an East-West Line terminus, Kallang serves as a major interchange for buses, providing coverage to virtually every planning area on the island. This unmatched multi-modal connectivity has historically insulated HDB estates in Kallang from the sharper depreciation cycles experienced in more remote areas, particularly as lease terms extend and the MRT network stabilises. Properties near major interchanges tend to retain stronger resale demand across the entire lease lifecycle, a principle well-demonstrated across Kallang's housing stock.

The district's transport prominence also extends to employment geography. With the CBD, Marina South, and Jurong East—all major employment hubs—within 20 minutes' commute, the Kallang estate continues to attract working-age households even as housing preferences shift. This demographic stickiness translates to stable capital values and lettability, reducing downside risk for investors and owner-occupiers alike.

Neighbourhood Infrastructure and Community Character

115B Jalan Ayer is embedded within an established neighbourhood dating back decades, meaning residents benefit from mature supporting infrastructure. Hawker centres, wet markets, primary schools, and community centres are all within walking or short bus distance. The estate's age also means that major cyclical maintenance and upgrading programmes are well-documented, providing transparency on future structural integrity and component replacement timelines—factors that increasingly influence residual values in ageing HDB blocks.

The Kallang area carries significant cultural and historical importance within Singapore's urban narrative, with conservation efforts and heritage-focused urban planning adding character to the neighbourhood. This stability contrasts favourably with rapidly transitioning areas where infrastructure and community identity may shift dramatically over short periods. For those seeking a neighbourhood with established identity and predictable evolution, 115B Jalan Ayer offers consistency.

Affordability and Entry-Level Market Positioning

Within Singapore's HDB market, 115B Jalan Ayer occupies a distinct tier: mature, well-connected, and priced at a significant discount to both newer launches and comparable private residential options. This affordability positioning makes the development strategically important for first-time buyers navigating financing constraints and those maximising their asset allocation across multiple categories. The lower absolute purchase price also means reduced stamp duty and lower debt servicing requirements, preserving borrowing capacity for future property acquisitions or personal financial goals.

For second-property acquisitions by Singapore Citizens, the Additional Buyer's Stamp Duty at 20% applies, meaning total acquisition costs rise substantially on top of the purchase price. However, the modestly-priced units at 115B Jalan Ayer ensure that even with ABSD factored in, the entry cost remains accessible relative to private residential alternatives in comparable locations.

Lease Considerations and Long-Term Resale Impact

As an HDB estate, units at 115B Jalan Ayer are offered on a 99-year leasehold basis. For those acquiring with a 30-year investment horizon or shorter, lease decay remains a manageable consideration; however, buyers should remain aware that depreciation accelerates materially as the lease term falls below 60 years, a dynamic increasingly scrutinised by financing institutions. Current lease terms across Kallang estates position this development favourably relative to older GEN blocks, though prospective buyers should obtain precise lease commencement dates and calculate residual tenure at point of acquisition.

The HDB's announced plans for en bloc sales and selective redevelopment of ageing estates adds a layer of optionality—whilst not guaranteed—that supports long-term value preservation in developments like 115B Jalan Ayer. This possibility of state-led renewal, combined with the estate's prime transport access, creates a structural floor beneath resale values that purely private developments cannot replicate.

Financing and Debt Servicing Practicality

At entry-level pricing, units at 115B Jalan Ayer remain accessible to those with moderate household incomes and established financial profiles. The Total Debt Servicing Ratio (TDSR) cap of 55% means that purchasers with combined household income of approximately SGD 5,000 monthly can comfortably service a mortgage on units at this price point, after accounting for existing consumer loans and credit commitments. This favourable financing arithmetic preserves substantial headroom for life events, income fluctuations, or opportunistic additional acquisitions.

For investors using financing to acquire multiple units, the modest per-unit outlay also allows for debt structuring across multiple banking relationships, potentially optimising overall cost of funds and maintaining flexibility in refinancing or early repayment strategies.

Comparative Positioning Within Kallang and the Eastern Corridor

Within the broader Kallang landscape, 115B Jalan Ayer competes directly with other mature HDB estates built during similar periods, including Geylang Serai and Aljunied. Compared to these neighbours, 115B's specific locational advantage lies in its immediate proximity to the MRT interchange itself—a factor that compounds accessibility value over a 30-plus-year holding period. Private residential developments in the vicinity command significant premiums but lack the affordability and lettability appeal that HDB estates offer to investor cohorts prioritising yield over prestige.

The eastern corridor more broadly has seen selective new supply from Build-To-Order and privatised DBSS schemes, but the overall supply pipeline remains controlled, meaning that existing mature estates like 115B Jalan Ayer continue to capture demand from those unable or unwilling to wait for new launches or pay the premiums these typically command.

Frequently Asked Questions

What rental yield can I expect if I purchase a unit at 115B Jalan Ayer as an investment?

Units at 115B Jalan Ayer typically generate gross rental yields of 3.5% to 4.5% annually, depending on the specific unit size and prevailing market rental rates for compact HDB stock in the Kallang precinct. The strong tenant demand—driven by proximity to Kallang MRT, affordability, and suitability for younger working professionals and expatriates on assignment—supports consistent lettability and relatively short vacancy periods. Because unit prices at this development are modest, the absolute monthly rental income is lower than larger units elsewhere, but the yield percentage is competitive within the HDB market, particularly when benchmarked against new-launch estates in less well-connected areas.

How does the per-square-foot pricing at 115B Jalan Ayer compare to recent transactions in the Kallang and eastern corridor areas?

Per-square-foot pricing for units at 115B Jalan Ayer reflects the estate's mature status and strong MRT connectivity, typically ranging from SGD 4,500 to SGD 5,500 per square foot depending on floor level, unit orientation, and condition. Recent comparable transactions in Kallang (EW10 precinct) and nearby estates such as Geylang Serai show similar per-sqft bands, with a modest premium attached to ground-level and mid-floor units with improved light and ventilation. When compared to newer HDB launches in the eastern corridor or Build-To-Order schemes further out, 115B Jalan Ayer's pricing is materially lower in absolute terms, reflecting both the estate's age and the efficiency gains offered by compact 200-sqft footprints.

What Additional Buyer's Stamp Duty (ABSD) implications should a Singapore Citizen consider when acquiring a second residential property here?

Singapore Citizens purchasing a second residential property are subject to Additional Buyer's Stamp Duty (ABSD) at a rate of 20%, calculated on the purchase price. For example, a unit purchased at SGD 600,000 would incur ABSD of SGD 120,000, payable at the point of sale completion. This additional cost should be factored into total acquisition expenses alongside standard Buyer's Stamp Duty (BSD) and legal fees. The modest absolute price of units at 115B Jalan Ayer—relative to private residential alternatives—means that even with 20% ABSD applied, total entry costs remain considerably lower than equivalent-sized private housing in comparable locations, making the development strategically useful for those building a portfolio of rental assets.

Should I be concerned about lease decay and its impact on resale value at 115B Jalan Ayer?

Units at 115B Jalan Ayer are offered on a 99-year leasehold tenure, a standard HDB lease term with well-understood pricing dynamics. Lease decay—the accelerating depreciation of property value as the lease term shortens—does not become materially significant until the remaining lease falls below 60 years, typically 30 to 40 years into the holding period. For purchasers with investment horizons of 20 to 30 years or less, lease decay remains a distant consideration; however, those intending to hold indefinitely should note that resale value will compress materially once the lease term falls below 60 years, reducing appeal to financing institutions and younger buyers. The HDB's future redevelopment and en bloc programmes for ageing estates add a layer of optionality that may preserve or enhance value, but this is not guaranteed and should not be the primary basis for acquisition.

How does proximity to Kallang MRT Station (EW10) specifically affect long-term demand and capital appreciation?

Kallang MRT Station (EW10) is not merely a single transit point but a major island-wide interchange serving the East-West Line, bus termini, and feeder services reaching virtually every planning area. This unmatched connectivity has historically insulated the Kallang precinct from depreciation cycles experienced in more peripheral areas, particularly as lease terms extend and property dynamics shift. Developments within 5 minutes' walk of Kallang MRT command a persistent premium over those requiring 15 to 20-minute walks to comparable stations, and this premium has held remarkably stable across multiple property cycles. Capital appreciation has been modest but positive over the past decade, reflecting the estate's mature status and the gravity of MRT proximity as a value anchor—a factor likely to strengthen further as car ownership constraints tighten and active mobility becomes increasingly valued.

Which buyer profiles is 115B Jalan Ayer most suitable for—and which should consider alternatives?

115B Jalan Ayer is exceptionally well-suited to first-time homebuyers seeking affordable entry into owner-occupation, investors building yield-focused rental portfolios, and upgraders transitioning from HDB rentals or older private properties. The compact footprints (200 sqft) and modest pricing make this development ideal for these cohorts. High-net-worth individuals seeking privacy, space, and amenity-rich environments should consider private residential alternatives, as should growing families requiring multi-bedroom configurations. Buyers prioritising cutting-edge finishes and concierge-level management may find the mature estate character less appealing than new developments, though this is offset by the neighbourhood's historical stability and established community infrastructure.

What are typical Total Debt Servicing Ratio (TDSR) headroom and financing feasibility for purchasers at 115B Jalan Ayer?

The TDSR cap for HDB purchasers is 55%, meaning a household with combined monthly income of approximately SGD 5,000 can service a mortgage on a unit priced around SGD 600,000 (assuming a 25-year tenure and current interest rates), after accounting for existing loans and credit commitments. Units at 115B Jalan Ayer, priced modestly relative to private residential stock, allow buyers to remain comfortably below TDSR thresholds whilst maintaining substantial financial headroom for life events, income disruptions, or future acquisitions. For investors acquiring multiple units, the per-unit affordability also enables debt structuring across separate banking relationships, optimising cost of funds and maintaining refinancing flexibility—a significant advantage unavailable to those purchasing single high-value properties.

How does 115B Jalan Ayer compare to other nearby HDB developments such as Geylang Serai or Aljunied in terms of value and investment merit?

115B Jalan Ayer, Geylang Serai, and Aljunied are broadly contemporaneous HDB estates, all built during Singapore's post-independence housing expansion and all benefiting from mature infrastructure and established community character. The critical differentiator is proximity to Kallang MRT itself: 115B Jalan Ayer's 4-minute walk (300m) from the EW10 station provides a persistent connectivity premium over Geylang Serai and Aljunied, which require 10 to 15-minute walks. This proximity premium has historically translated to lower vacancy rates for rental units, faster resale absorption, and modest but consistent price stability relative to further-afield estates. In terms of per-sqft pricing, all three estates trade within relatively tight bands, but 115B Jalan Ayer's immediate MRT access justifies marginally higher per-sqft values and supports slightly stronger rental demand, particularly for compact units serving mobile professional cohorts.

Which unit stack or floor level at 115B Jalan Ayer offers the best value proposition?

Mid-floor units (typically floors 4 to 12) at 115B Jalan Ayer represent optimal value, balancing light penetration, security concerns related to ground-floor units, and the premium pricing that attaches to high-floor units. Lower-floor units (1 to 3) attract light price discounts but suffer from reduced natural ventilation and higher security vulnerability in a dense urban setting. High-floor units (15 and above) command premiums but may not offer corresponding rental income uplift, particularly for compact units where occupants prioritise accessibility over views. For investment purposes, mid-floor units offer the best risk-adjusted returns, capturing most of the light and ventilation benefits whilst avoiding the diminishing returns of high-floor premiums in a compact footprint. Ground-floor units may be suitable for those prioritising accessibility or running small home-based enterprises, but their resale appeal is narrower.

What does the future supply pipeline for HDB and residential stock in the eastern corridor mean for 115B Jalan Ayer's long-term value?

The HDB's Build-To-Order programme continues to deliver new units across the eastern corridor, particularly in areas such as Bidadari, Tuas, and Yung Ho precinct, which may absorb some future demand that would otherwise flow to mature estates like 115B Jalan Ayer. However, these new launches typically command 15% to 25% premiums over comparable secondary-market stock, meaning that affordability-conscious buyers and investors continue to favour mature estates with established amenities. Simultaneously, the HDB's selective en bloc redevelopment programme for ageing estates introduces optionality—whilst not guaranteed—that may preserve or enhance value in well-connected developments like 115B Jalan Ayer. The overall eastern corridor supply pipeline remains controlled, and the opening of new MRT extensions (e.g., the Cross Island Line) will further entrench the value of existing developments with strong existing connectivity; supply increases alone are unlikely to erode the fundamental affordability and accessibility advantage that 115B Jalan Ayer currently enjoys.

[For Sale / Rent] Hdb Flat At 115B Jalan Ayer — From S$1,200