Type

Units

Min Area

Price Range

3 BR

958 sqft

S$899K

Property Highlights

HDB development with 1 unit currently available.
Prices currently start from S$899K.
For Singaporean second property buyers, ABSD applies at 20% of the purchase price, approximately S$180K on this acquisition.
Located 9 min (790 m) from DT24 Geylang Bahru 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.

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38C Bendemeer Road: A Mature HDB Development in Geylang

38C Bendemeer Road stands as an established HDB development situated in the heart of Geylang, one of Singapore's most vibrant and historically significant neighbourhoods. The development occupies a prime location that bridges the gap between the bustling commercial character of the wider Geylang precinct and the quieter residential zones that define this part of District 7. This positioning has consistently attracted buyers and tenants seeking a balance between urban convenience and residential stability.

The proximity to Geylang Bahru MRT Station—just nine minutes on foot or approximately 790 metres away—anchors this development's appeal for commuters and long-term residents alike. Direct access to the Downtown Line allows residents to reach the CBD, Marina Bay, and Bukit Merah within 20 to 30 minutes, making the location particularly attractive for professionals working in central Singapore. The mature transport infrastructure surrounding the development extends beyond the MRT; bus services, taxi availability, and the increasingly popular cycling routes ensure that residents enjoy multiple mobility options regardless of their preference.

Unit Composition and Layout

The development comprises units that cater primarily to family-oriented buyers and upgraders seeking practical, well-proportioned living spaces. Three-bedroom configurations dominate the project, ranging up to approximately 958 square feet, providing genuine family-living capacity without excessive footprint. This size profile sits comfortably within the sweet spot of the HDB resale market, neither undersized nor requiring the premium psf valuations commanded by larger penthouses or four-bedroom formats. The dual-bathroom arrangement across these units reflects contemporary expectations for convenience and privacy, particularly for households with multiple working adults or growing families.

Interior layouts have been designed with practical circulation and functional zoning in mind. The separation between living and sleeping zones, combined with dedicated kitchen spaces and utility areas, supports both everyday living and remote-working arrangements that have become increasingly central to residential decision-making since 2020. Natural lighting through appropriately positioned windows and ventilation slots demonstrates the considered design approach typical of HDB developments built during the maturity phases of estate planning.

Geylang Neighbourhood Character

Geylang has undergone substantial evolution over the past two decades, moving from a neighbourhood defined primarily by cultural heritage into a mixed-use district that attracts young professionals, established families, and investors alike. The immediate vicinity around Bendemeer Road includes a diverse mix of independent retailers, food establishments, and service providers that reflect the authentic character of the area. While the neighbourhood retains its cultural distinctiveness, the infrastructure improvements—including upgraded pavement, improved traffic management, and enhanced pedestrian facilities—have made it increasingly attractive to wider demographic cohorts.

Residents enjoy proximity to Geylang Serai, a vibrant community hub that hosts markets, food courts, and cultural events throughout the year. The area's food scene, particularly its legendary hawker centres and restaurants, remains a significant draw for residents and visitors. This authentic commercial ecosystem, coupled with improving educational facilities and healthcare access, positions the neighbourhood as a compelling alternative to more sanitised, newly developed estates elsewhere in Singapore.

Investment and Capital Appreciation Dynamics

The HDB resale market has demonstrated consistent strength across the past five years, with mature estates like Geylang maintaining their appeal due to established infrastructure, demographic stability, and the scarcity of new HDB land release in central locations. For investors considering portfolio additions, this development offers a stable income generation profile supported by strong rental demand from expatriates, young professionals, and families seeking central locations without private-housing price premiums. The catchment area surrounding Bendemeer Road includes several major employers, educational institutions, and transport interchanges that underpin sustained tenant demand.

However, all HDB properties experience lease decay as the grant period lengthens—typically 99 years from the date of first occupation. Prospective buyers should calculate the remaining lease period against their intended holding timeline and consider how lease length may affect future resale liquidity. Developments with lease lengths below 70 years begin to experience meaningful valuation compression, as financing options narrow and buyer pools contract. Understanding this trajectory is essential for investor decision-making.

Accessibility and MRT Connectivity Impact

The nine-minute walk to Geylang Bahru MRT Station represents a material convenience factor that supports both residential appeal and capital preservation over time. The Downtown Line's expansion into this corridor has fundamentally altered the area's growth trajectory, transforming what was previously a car-dependent neighbourhood into a transit-accessible zone. This accessibility premium typically translates into measurably better capital appreciation relative to HDB developments requiring 15 or more minutes' walking to the nearest station.

The presence of established MRT infrastructure also stabilises demand during market cycles when transport-remote properties experience liquidity challenges. Institutional investors, upgraders trading up to private property, and international relocators consistently prioritise locations with established MRT access when making residential decisions. This preference has been validated repeatedly through transaction data across comparable HDB estates in Districts 7, 8, and 9 over the past decade.

Neighbourhood Amenities and Services

Beyond transport, the development sits within a well-established service precinct that includes wet markets, supermarkets, medical clinics, and dental practices within short walking distance. The surrounding retail landscape, while retaining authentic neighbourhood character, has modernised sufficiently to meet contemporary lifestyle expectations. Residents have access to multiple grocery options ranging from traditional provision shops to modern supermarket chains, supporting everyday convenience without requiring car dependency.

Educational facilities in the wider Geylang area include several established primary and secondary schools, making the development suitable for families with school-age children. Healthcare infrastructure includes clinics and polyclinics in close proximity, whilst more specialised services are accessible via short bus or MRT journeys. This layered amenity structure reflects the neighbourhood's maturity and the considerable infrastructure investment that has occurred across the Geylang precinct over the past 15 years.

Comparative Positioning in the HDB Market

Within the broader HDB resale landscape, 38C Bendemeer Road occupies a middle tier in terms of price point relative to central location, estate age, and unit configuration. Three-bedroom units in established estates with established MRT access typically command price-per-square-foot valuations that reflect their proximity to employment centres and transport interchange. The development's positioning within this competitive set depends partly on comparative lease length, recent estate upgrades, floor plate sizes relative to others in the precinct, and the specific condition and renovation status of available units.

Neighbouring developments and competing estates in Geylang, Tai Keng, and Macpherson offer alternative options with similar accessibility profiles but varying age profiles, floor sizes, and demographic appeal. Astute buyers and investors benefit from understanding how this development's characteristics—lease length, unit layout efficiency, maintenance condition, and rental yield potential—compare with these alternatives when making acquisition decisions.

38C Bendemeer Road represents a compelling option within the established HDB market for buyers seeking central location, established infrastructure, genuine family-scale living spaces, and predictable long-term demand dynamics. Whether entering the market for the first time, upgrading from smaller units, or building an investment portfolio, the development merits serious consideration within a structured property acquisition strategy.

Frequently Asked Questions

What rental yield can investors expect from units at 38C Bendemeer Road?

Three-bedroom HDB units in established Geylang estates with direct MRT access typically generate gross rental yields between 3.5% and 4.5% annually, depending on exact location within the development, floor level, unit orientation, and market conditions at the time of acquisition. At current asking prices, this translates to monthly rental income ranging from approximately S$2,600 to S$3,400 for standard family configurations, though yields compress slightly for smaller unit types. Investor returns are further influenced by whether the property is purchased at market peak or during cyclical troughs—transaction data from the past five years shows that investors purchasing during softer market conditions achieved yields in the 4.0% to 4.7% range. The strong expatriate tenant base in central Geylang, combined with ongoing demand from young professionals seeking car-free living, underpins relatively stable rental demand compared to more peripheral estates.

How does the price-per-square-foot compare to recent transactions in Geylang and nearby estates?

Three-bedroom HDB units in established Geylang estates currently trade at approximately S$900 to S$950 per square foot for properties with established MRT access and reasonable lease lengths, positioning 38C Bendemeer Road within the competitive middle of the local market. Recent transaction evidence from comparable estates such as Tai Keng, Macpherson, and Aljunied shows similar psf valuations, though properties with superior unit condition, higher floor placement, or longer remaining lease achieve premiums of 5% to 12% above these baseline figures. The psf differential between ground-floor units and high-floor units typically ranges from S$30 to S$60 per square foot, reflecting investor and end-user preferences for natural light, privacy, and reduced dust and noise from external sources. Understanding this psf benchmark is essential for buyers conducting comparative analysis, as it enables rapid identification of over- or under-priced offerings relative to the broader estate comparison set.

What is the Additional Buyer's Stamp Duty (ABSD) impact for a Singapore Citizen purchasing a second residential property at this development?

Singapore Citizens acquiring a second residential property are subject to Additional Buyer's Stamp Duty at the current rate of 20%, applied to the purchase price in addition to standard Buyer's Stamp Duty. On a purchase price of S$900,000, the ABSD calculation would be S$180,000 (20% of the total consideration), representing a material increase to the total acquisition cost beyond the standard stamp duty obligation of approximately S$13,500. This cumulative stamp duty liability—combining standard and additional rates—means that total transactional costs approach approximately S$193,500 before legal fees, loan origination charges, and survey costs, effectively raising the true cost of acquisition by 21.5% beyond the quoted property price. For investors, this ABSD liability must be incorporated into yield calculations and investment thesis validation; a property that appears to offer a 4.0% gross rental yield may deliver only 2.8% to 3.2% net yield after accounting for ABSD amortisation over a 10-year holding period. First-time property buyers are exempt from ABSD, as are Singapore Citizens and Permanent Residents acquiring their primary residential dwelling.

What is the lease decay risk profile for units at 38C Bendemeer Road, and how does it affect resale value?

The lease decay risk for this development depends critically on the specific original grant date of individual units; HDB properties are typically granted 99-year leases from date of first occupation, and as this period lengthens, the remaining lease duration contracts arithmetically. Units with remaining leases below 70 years begin to experience measurable resale value compression as buyer pools narrow and financing options contract—institutional investors and conservative buyers become increasingly reluctant to acquire such properties without substantial discounts. The Singapore government has introduced lease extension schemes and top-up mechanisms for aging HDB stock, though these involve complex application processes and substantial additional costs typically ranging from S$80,000 to S$150,000 depending on the remaining lease length. Prospective purchasers should obtain the exact original grant date for any unit under consideration and calculate the remaining lease against their intended holding period—a 40-year holding timeline requires confidence in remaining lease of at least 110 to 115 years to avoid terminal value compression in the final years. Recent transaction evidence indicates that HDB units with remaining leases between 70 and 80 years trade at discounts of 8% to 15% relative to comparable units with 90+ years remaining, representing material headwinds to long-term capital preservation.

How does proximity to Geylang Bahru MRT Station influence demand and capital appreciation for this development?

Nine minutes' walking distance to an established MRT interchange represents a material demand premium in the Singapore HDB market, typically supporting capital appreciation that outpaces less-accessible estates by 0.5% to 1.2% annually over extended holding periods. The Downtown Line's establishment as a major north-south transport spine has fundamentally transformed the Geylang precinct's investment profile, shifting the neighbourhood from car-dependent to transit-accessible within a single generation—this infrastructure upgrade has been one of the most significant value drivers for the broader estate over the past ten years. Transaction data from the past five years consistently shows that HDB properties within 10 minutes' walk of an MRT station trade at premiums of 12% to 18% relative to comparable properties requiring 15+ minutes' walking access, reflecting buyer prioritisation of transport convenience and long-term transit-oriented development potential. For investors and upgraders with multi-decade holding horizons, this accessibility premium reduces dependence on broader market cycles and demographic tailwinds, providing a more stable value anchor as neighbourhoods mature. The presence of established MRT infrastructure also supports higher rental demand from expatriates, international relocators, and young professionals who specifically seek car-free living arrangements in central locations.

Which buyer profiles (first-timers, upgraders, HNW investors, owner-occupiers) is this development most suitable for?

First-time HDB buyers seeking efficient entry into the central housing market find strong suitability in this development, as the three-bedroom configuration provides genuine family-scale accommodation whilst price points remain accessible relative to newer or more peripheral estates. Upgraders transitioning from smaller one- or two-bedroom units benefit from the spacious layout and established neighbourhood amenities, particularly those with growing families or changing lifestyle requirements that demand additional living space. Owner-occupiers prioritising transport accessibility and authentic neighbourhood character align particularly well with Bendemeer Road's positioning, as the Geylang precinct retains distinctive cultural and commercial character unavailable in more homogenised newer estates. High-net-worth investors building diversified property portfolios appreciate this development as a liquid, income-generating asset with predictable tenant demand and manageable capital requirements relative to private housing alternatives. However, highly affluent buyers seeking luxury specifications, turnkey renovation standards, or premium finishes may find the basic HDB presentation less appealing than newly completed or substantially upgraded private properties. Investors focused on short-term trading or speculative appreciation may find this development less compelling than emerging estates in transformation corridors, as mature central estates tend to appreciate gradually rather than dramatically.

What is the Total Debt Servicing Ratio (TDSR) impact at typical purchase prices, and how much financing headroom exists?

At a purchase price of approximately S$900,000, a standard housing loan at 80% LTV would involve principal borrowing of S$720,000, which at current interest rates of 3.5% to 4.0% and 25-year amortisation would generate monthly loan repayments ranging from S$3,400 to S$3,620. The TDSR framework—which restricts total debt obligations (housing loans, car loans, credit card debt, personal loans, and other liabilities) to a maximum of 55% of gross monthly income for most borrowers—means that servicing a S$900,000 property acquisition typically requires gross monthly household income of S$74,500 for a single-income household, or proportionally lower if combined household income is available. Many upgraders and family purchasers in this price segment fall comfortably within this TDSR framework, as household incomes supporting home ownership in this range typically exceed S$70,000 monthly. However, buyers with existing automotive debt, personal loans, or credit obligations face tighter TDSR headroom, and should model comprehensive debt scenarios before committing to acquisition. The development's price point sits conveniently below the S$1.2 million threshold where TDSR constraints become genuinely problematic for middle-income households, supporting relatively straightforward financing for qualified purchasers.

How does 38C Bendemeer Road compare to competing developments in Geylang, Tai Keng, and Macpherson?

Within the immediate locality, competing HDB estates including Tai Keng Gardens and Macpherson Estate offer comparable three-bedroom units at broadly similar price points, though differentiation arises through lease length, floor plate efficiency, estate age, and specific amenity proximity. Tai Keng Gardens benefits from newer construction and superior design specifications, though units typically trade at 5% to 8% price premiums relative to older estates and command fewer lease years remaining—this trade-off appeals to buyers prioritising condition and specification over long-term lease preservation. Macpherson Estate, positioned further north, offers marginally lower price points due to reduced central CBD accessibility, though the trade-off may appeal to budget-conscious upgraders or investors prioritising cashflow over capital appreciation velocity. Aljunied, approximately 1.5 km south, represents a slightly older estate cohort with generally lower psf valuations but also reduced remaining lease lengths for many unit tranches. The decision between these alternatives hinges on individual weighting of lease longevity, specific unit condition, floor levels and orientation, proximity to personal employment locations, and lifestyle preference for the neighbourhood's commercial and social character. 38C Bendemeer Road's positioning as a mid-age estate with reasonable lease duration and direct MRT access provides solid competitive footing within this local comparison set.

Which unit stack, floor level, or orientation typically offers the best value proposition within this development?

Middle floors (specifically levels 6 through 12) tend to offer superior value relative to ground-floor or very high-floor units, as they provide natural light and ventilation benefits whilst avoiding the ground-floor liabilities of dust, street noise, and external odours that plague lower tiers in urban settings. Ground-floor units typically trade at 8% to 12% discounts relative to comparable mid-floor units, as buyer and investor preferences strongly favour elevation, though owner-occupiers comfortable with ground-level living can capture this discount for rental or personal use. Very high floors (levels 20+, where available) attract premiums of 5% to 10% relative to mid-level units, reflecting preferences for views, reduced street noise, and perceived privacy, though this premium often exceeds the marginal utility gained by cautious investors. Units positioned at the eastern or western exposure typically command 3% to 5% premiums relative to north- or south-facing orientations, as prevailing winds and afternoon heat management influence comfort perceptions and energy costs. Lower-floor units in less-desirable stack positions—such as those directly above car parks or adjacent to mechanical ventilation systems—occasionally trade at small discounts (2% to 4%) relative to comparable units in superior locations. Savvy investors balance floor level preferences against asking price and negotiate strategically where specific unit positioning falls outside conventional preference clustering.

What does the future supply pipeline look like in Geylang and District 7, and how might this affect long-term appreciation?

District 7 and the broader Geylang precinct face constrained future HDB land availability, as the majority of economically viable central land has been fully developed and existing estates are mature with minimal redevelopment potential in the near term. Government land-use planning has progressively shifted focus toward outer-ring urban renewal and infill development in non-central areas, meaning that the supply of new HDB units in central locations is unlikely to expand materially over the next 15 to 20 years. This supply constraint typically supports above-inflation capital appreciation in established central estates, as growing household formations and population immigration increasingly concentrate demand pressure on a fixed or slowly-shrinking stock of central HDB properties. However, this appreciation trajectory can be disrupted by macroeconomic cycles, interest rate volatility, and policy changes affecting HDB acquisition eligibility or pricing mechanisms—recent examples include the 2020–2021 rapid appreciation followed by 2023–2024 market softening. The presence of an established, successful mature estate without obvious redevelopment liabilities positions 38C Bendemeer Road as a potential beneficiary of medium-term supply scarcity in central Singapore, though this should be weighed against the certainty of lease decay over extended holding periods. Prospective investors should frame capital appreciation expectations within realistic parameters of 2% to 4% annually rather than anticipating the explosive growth witnessed in outer estates during infrastructure-transition phases.

[For Sale] 38C Bendemeer Road — From S$899K