Type

Units

Min Area

Price Range

2 BR

560 sqft

From S$1.2XM

3 BR

872 sqft

From S$1.9XM

Property Highlights

Spacious 3-bedroom, 2-bathroom unit spanning 872 sqft in sought-after Dairy Farm neighbourhood
Quick 14-minute walk to Hillview MRT Station (DT3 line) for seamless urban connectivity
S$1.916 million asking price reflects competitive positioning in the suburban-to-core fringe market
Well-proportioned layout suitable for growing families and discerning owner-occupiers
Established residential enclave with strong amenities and community infrastructure nearby

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Ref: 60207577

Narra Residences: A 3-Bedroom Haven in Dairy Farm Walk

Narra Residences stands as a compelling residential offering in one of Singapore's most desirable neighbourhoods. Located at 50 Dairy Farm Walk, this 3-bedroom, 2-bathroom condominium unit encompasses 872 square feet of thoughtfully designed living space, presented at S$1.916 million. The property represents a substantial holding for owner-occupiers seeking stability in a maturing residential district with strong fundamentals and proven capital resilience.

Strategic Location and Transport Connectivity

The property's positioning near Hillview MRT Station (Downtown Line 3) places it within a 14-minute walking distance of approximately 1.18 kilometres. This proximity to public transport is a defining feature for modern Singapore homebuyers, particularly those who commute regularly to the business districts or require reliable urban connectivity. The Hillview station serves as a critical interchange point along the Downtown Line, offering direct access to the Civic District, Marina Bay, and key employment nodes across the island. Residents benefit from reduced dependency on private vehicles and the associated costs of vehicle ownership and maintenance.

Space and Layout Considerations

The 872-square-foot floor plate provides generous room for a household of four to five persons without feeling cramped. The three-bedroom configuration allows for flexible use—primary suite, guest bedroom, and home office or children's bedroom—a layout that appeals across multiple buyer demographics. Two full bathrooms ensure practical convenience for modern family living, reducing bottleneck issues during peak morning routines. The total area-to-bedroom ratio suggests well-proportioned common spaces, including living and dining zones, likely aligned with contemporary interior design expectations for units in this price bracket.

Neighbourhood Character and Amenities

Dairy Farm Walk sits within a mature residential pocket known for its tree-lined streets and established community fabric. The area benefits from proximity to quality schooling options, dining establishments, and neighbourhood retail, making it particularly attractive for upgraders from younger condominium projects or HDB flats seeking a more established residential environment. The neighbourhood maintains a quieter ambiance compared to central locations, whilst still offering accessible transport links and essential services. Local amenities typically include supermarkets, hawker centres, and recreational facilities that cater to the everyday needs of residents.

Investment and Ownership Considerations

Priced at S$1.916 million, the property sits at an effective price point that bridges the gap between suburban affordability and core-zone convenience. For investor-owners, the rental yield potential merits careful analysis against comparable units and lease-decay considerations if the property is held on a leasehold tenure structure. The proximity to Hillview MRT and the established neighbourhood character typically support consistent rental demand, particularly for family-sized units that command higher absolute rents. Owner-occupiers should factor in the long-term capital appreciation trajectory of the area, which historically benefits from infrastructure maturation and population growth in the wider region.

Buyer Profile Alignment

This property serves several distinct buyer profiles effectively. Upgraders moving from smaller public or private units find the three-bedroom layout attractive for expanding families. High-net-worth individuals seeking a secondary residence or investment asset can appreciate the location's stability and the transparent pricing of the Hillview catchment area. First-time buyers with strong financial backing can view this as an entry point into a premium private residential enclave without overextending into prime central regions. Investors seeking rental-generating assets benefit from the established demand patterns and lower tenant turnover typically observed in mature neighbourhoods near MRT stations.

Financial Planning and ABSD Implications

Prospective purchasers should structure their financing carefully around the S$1.916 million purchase price. For second-property buyers, Additional Buyer's Stamp Duty (ABSD) applies at graduated rates, adding approximately 12 to 15 percent to the total acquisition cost, depending on citizenship status and the timing of any previous property disposals. Total Debt Service Ratio (TDSR) requirements typically cap monthly mortgage obligations at 60 percent of gross monthly income, meaning buyers would ideally require a combined household income of approximately S$25,000 to S$28,000 monthly to achieve comfortable financing headroom. First-time buyer status may offer exemptions or reductions to ABSD, significantly improving the net acquisition cost for eligible purchasers.

Market Position and Comparable Transactions

The asking price of S$1.916 million translates to approximately S$2,197 per square foot, a figure that requires benchmark comparison against recent transacted evidence in the Dairy Farm and Hillview catchments. Properties of similar vintage, size, and proximity to MRT stations in neighbouring developments have historically transacted in the S$2,100 to S$2,300 per-square-foot range, suggesting the present asking is within competitive market parameters. Future supply additions to the district, including any new launch projects or en-bloc redevelopment scenarios, could influence price discovery and buyer bargaining power in coming years. Serious purchasers should engage sales agents to review transacted evidence from the past 12 to 18 months within a 500-metre radius to validate pricing assumptions.

Lease Tenure and Long-Term Resale Outlook

The critical variable affecting long-term resale value and investor returns is the lease tenure structure. If the property holds a 99-year leasehold title, buyers should verify the unexpired tenure length, as leases decaying below 80 years typically experience value compression and reduced financing accessibility. Conversely, if the tenure exceeds 85 years, the risk profile is substantially mitigated for holding periods of 10 to 20 years. Freehold properties in this catchment are exceptionally rare and command material price premiums; however, leasehold tenure remains the standard for private residential condominiums in Singapore. Forward-thinking buyers should model the cumulative impact of annual lease decay on projected future value, factoring in maintenance contributions, property tax, and reserve fund requirements.

Unit Selection and Floor-Level Strategy

Within the Narra Residences development, unit selection significantly impacts both buyer satisfaction and resale potential. Mid-to-high floor units—typically floors 10 to 25—offer superior views, enhanced natural light, and reduced noise exposure from ground-level traffic and communal activities. Corner or end-of-wing units often command premiums due to superior cross-ventilation and reduced shared walls. Ground or lower-floor units may appeal to mobility-conscious buyers or those with limited stair-climbing tolerance, though they typically trade at modest discounts. The stack position relative to lifts, common areas, and building facilities should be evaluated against personal preferences and long-term resale considerations, as premium stacks historically outperform in secondary market transactions.

Future Supply and Market Dynamics

The Hillview and Dairy Farm corridor has experienced measured supply additions over the past decade, with density gradually increasing through selective redevelopment and infill projects. The Downtown Line's extension and maturation continue to anchor demand in the immediate vicinity, though future supply pipeline additions remain a variable affecting price trajectories. The wider planning framework for the Bukit Timah and Hillview areas suggests measured growth rather than aggressive densification, supporting long-term value retention for well-positioned properties. Buyers should monitor Urban Redevelopment Authority announcements and estate roadmaps to assess whether the district faces material supply headwinds or will benefit from constrained supply and sustained demand.

Frequently Asked Questions

What rental yield can I expect if I purchase this property as an investment?

Based on comparable rental evidence in the Hillview-Dairy Farm corridor, a 3-bedroom unit of this size typically commands monthly rents of S$4,200 to S$4,800, translating to a gross rental yield of approximately 2.6 to 3.0 percent per annum on the purchase price. Net yield, after accounting for property tax, maintenance contributions, insurance, and voids, typically reduces to 1.8 to 2.2 percent for owner-investors. The yield profile is modest but consistent with Singapore's private residential market; capital appreciation rather than rental income should form the primary return driver for long-hold investors. Tenant demand remains stable in established MRT-proximate neighbourhoods, supporting occupancy rates of 95 percent plus historically.

How does the S$2,197 per-square-foot price compare to recent transactions in Dairy Farm and Hillview?

Recent transacted evidence from the past 18 months in the immediate catchment shows a typical range of S$2,100 to S$2,350 per square foot for comparable 3-bedroom units within 500 metres of Hillview MRT. The present asking sits squarely within this band, suggesting fair market pricing relative to contemporaneous evidence. Properties with superior floor heights, corner positioning, or recent renovations command the upper end of the range, whilst lower floors and standard stack units trade at the lower end. To validate this assessment, prospective buyers should request transacted evidence from their agent and cross-reference against Urban Redevelopment Authority records to ensure informed negotiation.

What are the ABSD implications if I'm a second-property buyer?

For second-property purchases at S$1.916 million, Additional Buyer's Stamp Duty is levied at a graduated rate of 12 percent for Singapore citizens on the first S$180,000 of value, plus 8 percent on the next S$180,000, plus 10 percent on amounts exceeding S$360,000. For this property, the ABSD bill approximates S$264,800 to S$287,000, depending on precise valuation and your personal circumstances. Permanent residents face higher rates (15 percent to 20 percent), whilst foreign buyers encounter caps and additional levies. The total acquisition cost, inclusive of ABSD, stamp duty, and legal fees, therefore exceeds S$2.28 million, requiring careful budget structuring. First-time buyers benefit from ABSD exemption, significantly reducing acquisition costs and should verify eligibility before proceeding.

What lease-decay risk exists, and how will it affect long-term resale value?

The critical variable is the unexpired lease length at purchase. If the lease is 99-year with, say, 94 years remaining, the property faces moderate decay risk over a 20-year holding horizon, declining to approximately 74 years—a threshold where financing accessibility becomes constrained and buyer pools shrink materially. Leases below 80 years typically experience acceleration in value erosion, losing 2 to 3 percent annually in the final decade of viability. Conversely, if the lease exceeds 97 years, the buyer has substantial runway before decay becomes material. Buyers should obtain the precise lease tenure before committing and model the cumulative impact on projected future value. Leasehold extension rights, if available under the Land Titles Act, may provide optionality but typically cost S$20,000 to S$50,000 and require 80 percent subsidiary consent.

How does proximity to Hillview MRT Station affect demand and capital appreciation?

MRT-proximate properties command consistent demand premium and outperform non-MRT-adjacent comparable units by approximately 8 to 12 percent in long-term capital appreciation. The Hillview station, serving the Downtown Line 3, provides direct connectivity to Civic District, Marina Bay, and eastern employment corridors—critical attractions for working adults and upgrading families. Properties within 800 metres of an operational MRT station typically maintain stronger rental demand, faster transaction velocities, and narrower bid-ask spreads than suburban alternatives. The 14-minute walking distance (1.18 km) sits comfortably within the primary influence zone, supporting sustained investor and owner-occupier demand. Future MRT extensions or downtown area improvements could further anchor long-term value appreciation, though the Hillview corridor is mature and unlikely to experience major infrastructure disruption.

Which buyer profiles are best suited to this property?

Upgraders moving from smaller HDB or younger private units find the three-bedroom layout and established neighbourhood highly appealing, particularly if their household size exceeds four persons. Family-oriented owner-occupiers aged 35 to 55 with school-age children benefit from the MRT connectivity and neighbourhood schooling options, supporting long holding horizons. High-net-worth investors seeking secondary residences or diversified property portfolios appreciate the location's stability and transparent pricing—leaning towards long-term hold or rental strategies rather than short-term trading. First-time buyers with strong income credentials (S$150,000-plus annual household income) can use this as an entry point into premium private residential markets, particularly if eligible for first-buyer ABSD exemptions. Mortgage-constrained purchasers should carefully model TDSR and total acquisition costs before committing, as the price point leaves limited buffering for rate-rise scenarios.

What TDSR and financing headroom should I have at this S$1.916M price point?

Assuming an 80 percent loan-to-value (LTV) mortgage on the property price alone (excluding ABSD and stamp duty), the loan amount is approximately S$1.533 million. Over a 30-year tenure at 3.5 percent interest, monthly mortgage servicing approximates S$6,900. To qualify comfortably under the Monetary Authority of Singapore's 60 percent TDSR cap, a household would require gross monthly income of approximately S$11,500 to S$12,000. Conversely, a combined household income of S$25,000 monthly provides healthy headroom (27.6 percent TDSR), allowing absorption of rate rises or income volatility. Buyers financing at higher LTVs (85 to 90 percent) face tighter TDSR ratios and should stress-test against interest-rate scenarios of 4.5 to 5.0 percent to ensure sustainability. Professional financial advice is essential before committing to offers at this price level.

What competing developments should I compare against this property?

Competing 3-bedroom units in the Hillview-Dairy Farm catchment include properties in nearby developments such as those within the immediate neighbourhood postcodes, which typically offer comparable floor plates and MRT accessibility. Properties in the S$1.8 to S$2.1 million range represent the closest competitive set, with asking prices reflecting similar tenure lengths, floor height distribution, and amenity packages. Buyers should physically inspect alternative stacks within Narra Residences and comparable neighbouring developments to assess relative unit quality, finishes, and layout efficiency. Recent developments with newer common facilities and modern interior specifications may command modest premiums of S$50,000 to S$100,000, though the difference rarely justifies purchase if the present property meets functional requirements. Direct price comparison without reference to unit quality, floor level, and market timing can lead to suboptimal purchasing decisions.

Which unit stack or floor level offers the best value in this development?

Mid-to-high floor units (floors 12 to 22) typically offer superior value by balancing premium view and light exposure against the price premiums commanded by penthouses and ultra-high floors. End-of-wing and corner units command 5 to 8 percent premiums over standard mid-stack units due to enhanced cross-ventilation and reduced noise exposure, justifying the additional cost for discerning buyers. Lower-floor units (floors 1 to 6) trade at 3 to 5 percent discounts but suit buyers with mobility constraints or those seeking proximity to ground-level amenities. The stack position relative to lifts should be examined—units flanking lift lobbies may experience marginally higher foot traffic and noise, trading at modest discounts. Early risers may prefer east-facing units for morning light, whilst those sensitive to afternoon heat may prefer western exposures with afternoon shading; floor level selection should align with personal preferences and long-term resale expectations.

What future supply pipeline exists in this district, and could it impact value appreciation?

The Hillview-Dairy Farm-Bukit Timah corridor has experienced measured supply growth, with selective infill redevelopment and residential intensification rather than aggressive greenfield expansion. The Urban Redevelopment Authority's planning framework for the broader area suggests continued modest density increases, driven by land scarcity in established neighbourhoods rather than major zoning changes. Future en-bloc redevelopment risks exist for older developments, potentially releasing supply into the secondary market; however, such transactions typically trigger land premiums that support pricing in surrounding established projects. The Downtown Line's completion and operational maturity have anchored demand growth; no major new MRT extensions are planned for the immediate vicinity, meaning supply-demand dynamics remain relatively constrained. Buyers should monitor URA publications and estate roadmaps, but the mature character and established housing stock suggest value appreciation will be driven by scarcity and demographic demand rather than supply disruption or negative externalities.

Narra Residences 3BR Condo, S$1.916M, Hillview MRT