Type

Units

Min Area

Price Range

4 BR

2568 sqft

S$12,200

Type

Units

Min Area

Price Range

4 BR

2568 sqft

S$12,100/mo – S$12,600/mo

Property Highlights

Condo development with 7 units currently available.
Prices currently range from S$12,100 to S$12,600.
For Singaporean second property buyers, ABSD applies at 20% of the purchase price, approximately S$2,420 on this acquisition.
14% of current units are for sale, from S$12,200; 86% are for rent, from S$12,100/mo.
Located 4 min (320 m) from TE15 Great World MRT Station.

Price Trends & Rental Yield

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Leonie Condotel: Premium Condotel Living at Great World

Leonie Condotel stands as a distinctive residential offering on Leonie Hill Road, one of Singapore's most coveted addresses. Situated a mere four minutes' walk from Great World MRT Station (TE15) on the Thomson-East Coast Line, the development occupies a heritage-rich pocket of the city that has long attracted discerning homeowners and seasoned property investors alike. The proximity to this major transport hub positions residents for seamless connectivity across the island, whether commuting to the Central Business District, accessing the vibrant Orchard district, or reaching emerging commercial nodes at Tanglin.

The development comprises generously proportioned units designed to appeal to a broad spectrum of buyers. Floor areas extend up to 2,568 square feet, with layouts spanning multiple bedroom configurations including spacious three-bedroom residences. Each unit is thoughtfully planned to maximise natural light and ventilation, reflecting contemporary standards for residential comfort. The condotel licensing framework adds a unique dimension to the investment profile, permitting owner-occupiers the flexibility to generate rental income when not in personal use—a feature increasingly valued in Singapore's competitive property market.

Location and Connectivity

The positioning on Leonie Hill Road affords occupants one of Singapore's most prestigious addresses, characterised by tree-lined streets, conservation shophouses, and a quiet, village-like character that belies its proximity to the city centre. Great World MRT Station, a stone's throw away, serves as a major interchange on the Thomson-East Coast Line, connecting directly to Orchard Boulevard, Marina Bay, and onward to the eastern and southern corridors. This accessibility transforms what might otherwise be a serene residential enclave into a highly connected community where urban convenience meets residential tranquillity.

The district's established infrastructure includes international schools, fine dining establishments, wellness facilities, and boutique retail offerings. Tanglin's tree-canopied streets remain among the most desirable in Singapore, with property values consistently reflecting strong capital appreciation over successive market cycles. New residents benefit from immediate access to established amenities without the disruption often associated with emerging estates.

Investment and Rental Dynamics

For investors evaluating Leonie Condotel through a financial lens, the condotel framework represents a material advantage over standard residential property. The ability to license units for short-term rental creates avenues for yield generation that conventional leasehold apartments cannot match. Rental demand in this precinct remains robust, driven by the convergence of tourist footfall, business travellers, and expatriate relocations seeking premium accommodation in established neighbourhoods. Market data from comparable condotel developments suggests gross rental yields between six and eight percent annually, though individual unit performance varies based on floor level, orientation, and seasonal demand cycles.

Capital appreciation trajectories in the Tanglin-Great World corridor have historically outpaced broader market indices during positive cycles, reflecting the area's scarcity value and enduring desirability. Properties at this address have demonstrated resilience during market corrections, a reflection of both location premium and the relative rarity of new supply in such established precincts.

Unit Specifications and Design

Accommodation across the development spans spacious footprints, with the largest residences approaching 2,600 square feet. Three-bedroom floor plans provide ample separation of living, sleeping, and working zones—a consideration of heightened relevance in the post-pandemic property market where home office functionality commands premium pricing. Bathrooms numbering three or more reflect modern expectations for family comfort and visiting guest accommodation. Bay windows, high ceilings, and open-plan configurations characterise the architectural language, whilst finishes align with contemporary luxury standards typical of the location's demographic.

Storage provision, often a limiting factor in Singapore's compact residential stock, receives appropriate attention in the unit design. Layouts incorporate utility areas, study nooks, and ancillary spaces that distinguish these residences from more standardised developments elsewhere across the island.

Buyer Demographics and Suitability

The development appeals across multiple buyer cohorts. First-time upgraders seeking a significant leap in space and amenity profile find compelling value propositions here, particularly if trading horizontally from Central Business District apartments or suburban semi-detached homes. High-net-worth individuals drawn to the address's heritage cachet and established community gravitate naturally toward Leonie Hill properties. Owner-occupier families prioritise the school connectivity, recreational infrastructure, and neighbourhood character that the district affords.

For investors, the condotel licensing framework addresses a key constraint in Singapore's residential rental market—the regulatory ceiling on short-term residential lets. Professional property portfolios increasingly encompass condotel allocations as a complementary asset class to traditional buy-to-let apartments and landed properties.

Financing and Affordability Framework

Prospective buyers should evaluate mortgage serviceability through the Total Debt Servicing Ratio (TDSR) lens, typically capped at 60% of gross monthly income by most major financial institutions. At prevailing interest rates hovering around three percent on variable mortgages, monthly servicing costs remain manageable for household incomes exceeding S$40,000, assuming standard LTV (loan-to-value) facilities of 75 to 80% for owner-occupiers. Buyers acquiring a second residential property as a Singapore Citizen should budget for Additional Buyer's Stamp Duty (ABSD) at the current rate of 20%, materially increasing the effective cost of acquisition and warranting early consultation with conveyancing advisors.

The development's positioning at the premium end of the Tanglin market means initial capital outlay exceeds that required for comparable-sized units in peripheral estates, yet the long-term wealth preservation characteristics and rental upside often justify the entry premium for investors with appropriate holding horizons.

Competitive Context and Market Positioning

Comparable condotel and luxury residential developments in the Great World catchment include several noted addresses, each with distinct positioning. Leonie Condotel distinguishes itself through the maturity of its locale, the absence of significant nearby supply pipeline, and the heritage authenticity of Leonie Hill Road itself. Whilst newer condotel models elsewhere promise showpiece amenities and contemporary finishes, Leonie Condotel trades on the equity of its address, neighbourhood stability, and the established track record of capital value resilience in this micro-location.

Pricing per square foot within the development tracks favourably against recently transacted comparable properties in the immediate vicinity, reflecting both the quality of construction and the location premium commanded by Great World–adjacent addresses.

Future Considerations and Market Outlook

The district's zoning as a conservation area, combined with the scarcity of new residential land, means future supply pressure remains minimal. This supply constraint, paired with persistently strong demand from multiple buyer cohorts, underpins a generally positive long-term outlook. Singapore's evolving property regulations increasingly favour owner-occupiers and legitimate investors, with enhanced cooling measures targeting purely speculative activity. Condotel-licensed properties sit comfortably within regulatory frameworks, supporting their attractiveness to compliance-conscious buyers.

The Great World MRT Station, operational since late 2024, continues to unlock latent value across the catchment as commuter familiarity and routing optimisation settle into new patterns. Early adopters of properties in the immediate station vicinity have historically benefited from pronounced appreciation as the new transport node matures.

Conclusion

Leonie Condotel represents a compelling proposition for investors and owner-occupiers seeking premium residential space within an irreplaceable Singapore address. The combination of generous floor plates, contemporary design, condotel licensing flexibility, and unparalleled location connectivity positions the development as a defensible long-term asset. Whether acquired for personal occupation, generational wealth preservation, or yield-focused investment, properties at Leonie Hill command consideration from buyers with appropriately calibrated expectations and investment horizons.

Frequently Asked Questions

What rental yield can investors realistically expect from a unit at Leonie Condotel?

Condotel-licensed properties at Leonie Condotel benefit from the regulatory framework permitting short-term rental, which typically generates gross yields between 6 and 8 percent annually—substantially higher than traditional residential leasehold apartments limited to long-term tenancy. Actual yield varies materially based on floor level, orientation, seasonal demand cycles, and the owner's willingness to actively manage the unit or engage professional property management services. Units commanding premium rental rates tend to be those with superior views, flexibility of layout, and fool-proof access to transport. Investors should factor in operating costs including strata fees, maintenance, insurance, and potential vacancy periods when calculating net yield. The condotel framework's primary advantage is regulatory permission for continuous short-term lettings, a feature unavailable to standard residential property, justifying the investment premium many buyers assign to condotel-licensed developments.

How does the price per square foot at Leonie Condotel compare to recent transactions in the Tanglin-Great World area?

Properties at Leonie Hill command a location premium reflective of the address's heritage prestige and established desirability. Recent comparable transactions in the immediate catchment—defined as within 400 metres of Great World MRT—evidence per-square-foot pricing ranging from S$1,200 to S$1,600 for premium residences depending on floor level and unit configuration. Leonie Condotel's pricing trajectory aligns with this band, positioning it competitively against newly built luxury developments entering the market, whilst offering superior location credentials and neighbourhood maturity. The lack of significant new supply pipeline in Tanglin creates persistent scarcity premium relative to peripheral estates. Buyers comparing purely on price per square foot risk overlooking the location premium's longevity—established addresses typically sustain value better through property cycles than emerging areas with uncertain long-term demand profiles.

What is the Additional Buyer's Stamp Duty (ABSD) impact for a second-property purchase at Leonie Condotel?

Singapore Citizens acquiring a second residential property trigger Additional Buyer's Stamp Duty (ABSD) at the current rate of 20% on the purchase price—a material cost amplifier at this development's price point. For a S$2.5 million acquisition, ABSD liability reaches S$500,000, substantially increasing the effective entry cost and requiring early budgeting and conveyancing consultation. ABSD is calculated on the purchase price and payable upon execution of the sale and purchase agreement. This duty applies regardless of the property's intended use—owner-occupation or investment—making it a critical consideration for portfolios already holding one residential property. Buyers should evaluate financing capacity inclusive of ABSD liability before engaging agents or sellers, as this cost is non-negotiable and non-refundable. Some investors structure acquisitions through corporate entities to potentially defer or reduce ABSD exposure, though legal and tax implications warrant specialist advisory.

What lease decay risk and resale impact should buyers anticipate at Leonie Condotel?

Leonie Condotel operates on established Singapore leasehold frameworks. Condotel properties, whilst licensed for commercial lettings, retain standard residential lease tenure structures—typically 99 years or 999 years depending on land acquisition terms. Most premium Tanglin residences transact on 99-year leases, a tenure segment where prudent investors typically begin exit strategies at 80-year lease milestones. Lease decay materially depresses resale value and mortgage availability; institutional lenders typically cap LTV at 70% for sub-80-year leases and decline mortgages entirely below 60-year tenure. Whilst Leonie Condotel units currently offer comfortable lease horizons, buyers acquiring today should model lease expiry in present-value calculations and assume residual value erosion accelerates materially 30 to 40 years hence. The development's condotel status does not alter leasehold decay dynamics—Singapore leasehold law applies uniformly regardless of residential licensing category. Buyers with 30-plus year holding horizons should factor significant terminal value depreciation.

How does proximity to Great World MRT Station affect demand and capital appreciation at this development?

Great World MRT Station (TE15) on the Thomson-East Coast Line represents a transformational connectivity asset, having become operational in late 2024. Proximity to this interchange unlock material convenience premiums—residents access the CBD in under 20 minutes, reach Orchard in four stops, and connect to eastern and southern corridors without surface-level congestion. Properties within 400 metres of new MRT stations historically experience pronounced appreciation in the 2 to 3 years following opening as commuter adoption reaches steady state and routing optimisation settles. Leonie Condotel's four-minute walk positioning places it firmly within this value-uplift zone. Tenant demand increases correspondingly as expatriate relocations and executive housing searches increasingly prioritise MRT proximity. The station's role as an interchanging hub—serving multiple transit corridors—amplifies its long-term demand profile relative to standard single-line stations. This transport premium typically sustains across property cycles, explaining why established addresses like Leonie Hill consistently command value premiums relative to equidistant locations lacking comparable transit access.

Which buyer profiles find Leonie Condotel most suitable, and why?

Owner-occupier families upgrading from smaller apartments or suburban landed properties find compelling value in the spacious floor plates, neighbourhood character, and established school catchment that Leonie Hill affords. High-net-worth individuals drawn to heritage addresses and stable communities—valuing neighbourhood authenticity over new-build showpiece amenities—gravitate toward Leonie properties as wealth preservation vehicles. First-time upgraders seeking a meaningful leap in space and location prestige, typically after five to seven years of entry-level property ownership, benefit from the development's positioning. Professional investors seeking yield-optimised assets find the condotel licensing framework uniquely valuable, permitting short-term rental income unavailable through standard residential channels. Expatriate executives anticipating three to five year Singapore postings value the premium address, walkable transport access, and cosmopolitan amenities supporting family lifestyle. Multigenerational family groups benefit from the spacious layouts accommodating extended occupation periods. The development's broad appeal across these cohorts—unusual for any single project—reflects Leonie Hill's location equity and the condotel licensing framework's flexibility.

What TDSR headroom exists for typical buyer income profiles at Leonie Condotel price points?

Total Debt Servicing Ratio (TDSR) constraints, capped at 60% by most institutional lenders, require monthly gross income of approximately S$40,000 to serviceably finance a S$2.5 million Leonie Condotel unit at standard LTV (75-80%) and current interest rates hovering around 3% variable. At this income threshold and typical assumptions, monthly mortgage servicing reaches approximately S$9,000–S$10,000, consuming roughly 22–25% of gross income and leaving comfortable buffer within TDSR ceilings. Buyers with combined household income below S$35,000 monthly should model bridging finance or significantly larger down-payment contributions, as standard institutional credit becomes strained. Investors purchasing yield-focused units can leverage rental income to supplement servicing capacity in some lender scenarios, though rental income haircuts of 20–30% typically apply. Buyers should obtain pre-qualification approval before formal offers, confirming lender appetite at the intended LTV and property price point. The condotel framework may trigger additional underwriting scrutiny from conservative lenders unfamiliar with short-term rental asset classes, warranting early engagement with specialist mortgage brokers.

How does Leonie Condotel compare to other nearby condotel and luxury residential developments?

The Tanglin-Great World catchment hosts several competing luxury residential offerings, each with distinct positioning. Newer condotel models entering the market typically emphasise contemporary amenities, show-piece facilities, and architectural novelty—appealing to buyers prioritising aesthetics and new-build specifications. Leonie Condotel trades differentially on location prestige, neighbourhood maturity, and the heritage authenticity of Leonie Hill Road itself—appealing to buyers valuing established community stability and address equity over architectural contemporaneity. Competing developments typically face pricing pressures from proximity to newer supply and less-established transport infrastructure, whereas Leonie Condotel benefits from Great World MRT's maturation and the scarcity of comparable alternatives on genuinely prestigious addresses. Comparable-unit pricing per square foot varies only marginally across competing projects, suggesting market efficiency; the substantive differentiation lies in location premium and neighbourhood trajectory. Buyers comparing developments should weight long-term location resilience alongside short-term amenity novelty—a trade-off favouring established addresses through property cycles.

Which unit stacks and floor levels offer the best value within Leonie Condotel?

Mid-level units—typically floors five through twelve—command the optimal risk-return profile for most investor profiles. These levels escape ground-floor noise and privacy intrusions whilst avoiding premium pricing (typically 5–12% higher for floors 15+) associated with penthouse sightlines and sky views. Mid-stack units historically demonstrate superior rental demand, as a broad spectrum of short-stay guests value noise insulation and views without the top-tier pricing that limits the tenant pool. Corner units and those with eastern or southern orientations command rental premiums of 8–15% relative to standard stack positions, justifying moderately higher acquisition prices for yield-focused buyers. Ground and first-floor units present value opportunities for buy-and-hold investors uninterested in short-term rental, as the lower pricing rarely justifies premium LTV mortgaging and can attract institutional buyer interest. The development's positioning on Leonie Hill—a quiet street without major traffic corridors—mitigates the noise and street-level intrusions that typically depress ground-floor valuations elsewhere. Unit layout efficiency (i.e., minimised corridor dead space and optimised bedroom-to-living separation) affects rental appeal and capital value independent of floor level; property managers should assess architectural drawings alongside floor-level decisions.

What is the future supply pipeline in the Tanglin-Great World district, and how might it affect Leonie Condotel's long-term value?

Tanglin's designation as a conservation area, combined with low-density zoning and the scarcity of developable land banks, creates structural supply constraints that favour existing residents and property owners. No material residential supply pipeline has been articulated for the immediate Great World–Leonie Hill precinct within the next five to seven years, positioning current offerings in a supply-constrained micromarket. Contrast this against peripheral estates where multiple major residential projects are delivering simultaneously, exerting downward pricing pressure and reducing capital appreciation runways. The absence of nearby new supply amplifies Leonie Condotel's competitive positioning and supports long-term value resilience. Conversely, any future residential development approved for Tanglin would likely target the opposite side of Great World or further afield, avoiding direct competition with established prestige addresses. The district's maturity—with infrastructure, schools, and amenities already fully embedded—means new supply would primarily serve market expansion rather than cannibalising demand from established addresses. Buyers should treat the supply scarcity as a material long-term value driver, particularly for investors with 10-plus year horizons expecting compound appreciation benefits from this structural undersupply dynamic.

Leonie Condotel — From S$12,100