Type

Units

Min Area

Price Range

2 BR

710 sqft

S$1.8XM – S$1.8XM

3 BR

883 sqft

From S$2.2XM

Property Highlights

2-bedroom, 2-bathroom unit at S$1,850,000 on Northumberland Road, a prime District 11 locale
Just 5 minutes walk (380 m) from Farrer Park MRT Station on the North-East Line, ensuring excellent connectivity
710 sqft of well-proportioned living space ideal for young professionals, upgraders, and buy-to-let investors
Piccadilly Grand offers a mature residential enclave with strong fundamentals and proximity to business hubs
Strategic pricing at approximately S$2,606 per sqft reflects competitive positioning within the affluent Farrer Park precinct

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Ref: 500146660

Piccadilly Grand: A 2-Bedroom Haven in the Heart of Farrer Park

Located on Northumberland Road, this two-bedroom, two-bathroom condominium at Piccadilly Grand represents a compelling acquisition opportunity in one of Singapore's most sought-after residential neighbourhoods. Priced at S$1,850,000, the unit encompasses 710 square feet of thoughtfully designed living quarters, positioning it as an attractive proposition for a diverse range of buyer profiles across the island's property market.

Strategic Location and Connectivity

The development's proximity to Farrer Park MRT Station cannot be overstated in terms of its appeal to commuters and investors alike. Situated merely 380 metres—approximately a 5-minute walk—from the station, residents benefit from seamless access to the North-East Line, which extends across critical employment nodes and cultural attractions. This accessibility fundamentally enhances both daily convenience and long-term capital appreciation potential, as proximity to mass rapid transit remains a non-negotiable factor in Singapore's property valuation matrix.

Northumberland Road itself occupies a position within District 11, an enclave traditionally associated with established, family-oriented neighbourhoods. The address enjoys a quiet, tree-lined setting whilst remaining well-connected to the broader island via major arterial roads and the aforementioned MRT infrastructure.

Physical Specifications and Layout

At 710 square feet, this unit strikes a practical balance between spaciousness and maintainability. The dual-bedroom, dual-bathroom configuration caters to couples seeking their first property purchase, young families, or investors targeting the rental market with an eye toward tenant appeal and occupancy rates. The square footage metric translates to approximately S$2,606 per square foot, a figure that positions the property within the mid-to-upper bracket for District 11 transactions in recent comparable sales data.

The two-bathroom inclusion—increasingly expected in modern condominiums—ensures convenience for households with multiple occupants or for leveraging rental income potential through enhanced tenant satisfaction and marketability.

Investment and Owner-Occupancy Perspectives

Piccadilly Grand's location and specifications render it suitable for multiple buyer classifications. First-time buyers will appreciate the proximity to employment zones, shopping facilities, and educational institutions that characterise the Farrer Park micromarket. Upgraders moving from smaller apartments or landed properties will find the unit's dimensions and dual bathrooms compelling, whilst the MRT accessibility reduces reliance on private transport.

For buy-to-let investors, the combination of a mature location, established resident demographic, and transport connectivity typically translates to strong rental demand and stable yields. The proximity to numerous multinational corporations headquartered in the CBD, combined with excellent schools and parks in the vicinity, creates a tenant pool characterised by stability and willingness to commit to longer tenancies.

Market Positioning Within District 11

The District 11 precinct has demonstrated resilience and consistent value appreciation over the medium to long term. Northumberland Road itself benefits from a legacy of well-maintained properties and a community that values discretion and substance over ostentation. Whilst the immediate vicinity lacks the headline glamour of, say, the Orchard corridor or the Sentosa waterfront, this very characteristic has historically insulated the market from speculative bubbles and price volatility.

Recent transactions within the immediate locality suggest a consistent price trajectory. Properties demonstrating similar attributes—proximity to MRT, dual bathrooms, and comparable square footage—have traded at price-to-square-foot multiples consistent with S$2,500 to S$2,700, positioning Piccadilly Grand's S$2,606 psf valuation as competitive and fairly calibrated.

Rental Yield Considerations

For investors contemplating acquisition, gross rental yields in this micromarket typically range between 3.0 and 4.0 per cent per annum, dependent upon unit finishes, furnishing specifications, and tenant profile targeting. A unit at this specification and location would likely command monthly rents between S$4,500 and S$5,200, translating to the aforementioned yield range. Net yields, after accounting for property tax, maintenance fees, and potential vacancy, would sit approximately 100-150 basis points below gross figures.

Capital Appreciation Trajectory

The proximity to Farrer Park MRT Station historically correlates with stable, modest capital appreciation—typically in the range of 2 to 4 per cent annually over longer holding periods. This reflects Singapore's overall property market dynamics, where growth is measured rather than speculative. However, the MRT network's extension into presently underdeveloped areas, combined with intensification zoning around stations, suggests that long-term appreciation potential may exceed historical norms.

The leasehold nature of most Singapore residential properties necessitates consideration of lease decay. Buyers should verify the remaining tenure and factor potential capital erosion into their investment thesis, particularly if acquisition is predicated upon long-term appreciation rather than immediate rental income.

Financing and TDSR Parameters

At S$1,850,000, a property of this calibre will typically require 25 to 35 per cent equity deposit for conventional bank financing, with the balance secured through mortgage facilities offering terms of 25 to 30 years. Most major Singapore banks offer competitive rates for residential purchases in this price band, particularly for owner-occupiers with established income and credit profiles.

Prospective buyers should calculate their total debt service ratio carefully, ensuring that mortgage servicing, property tax, maintenance fees, and insurance remain comfortably within the prudential lending thresholds set by the Monetary Authority of Singapore. At this price point, most professional and managerial employees will find financing headroom readily available, though second-property buyers must account for additional buyer's stamp duty liabilities.

Taxation and Additional Costs

Second-property acquirers will incur Additional Buyer's Stamp Duty (ABSD) at the rate of 15 per cent on the purchase price, representing a significant outlay of S$277,500 in this instance. This must be factored into total acquisition cost, alongside conveyancing fees, property tax, and the building's maintenance charges, which typically range between S$300 to S$450 per month for mid-range district condominiums.

Community and Environs

The neighbourhood surrounding Piccadilly Grand offers residents access to well-regarded schools, recreational facilities, and a diverse dining and retail landscape. The location eschews the extreme busyness of central Singapore whilst maintaining genuine accessibility to all essential services and employment nodes. Parks and green spaces nearby provide respite and support an active lifestyle, attributes increasingly prized by property buyers across all demographic segments.

Future Supply and Market Dynamics

District 11 is a mature residential zone with limited new supply in the pipeline. This scarcity dynamic supports the investment case for properties in this precinct, as new entrants face planning restrictions and costs prohibitive to large-scale development. The relative stability of supply creates a favourable environment for capital preservation and gentle appreciation, contrasting with newer precincts experiencing rapid densification and associated market volatility.

Piccadilly Grand, as an established development, represents a proven product with track record and established maintenance standards—factors increasingly valued by both owner-occupiers and investors navigating Singapore's property landscape.

Frequently Asked Questions

What gross rental yield can be expected from this Piccadilly Grand unit if purchased as an investment?

Based on current market conditions in the Farrer Park micromarket, a property of this size, specification, and location typically achieves gross rental yields between 3.0 and 4.0 per cent per annum. At S$1,850,000, this translates to anticipated gross rental income of approximately S$55,500 to S$74,000 annually, with monthly rents likely ranging between S$4,500 and S$5,200 depending on furnishing standards and tenant demographics targeted. After deducting property tax (approximately 4–6 per cent of gross rental income), maintenance fees (typically S$300–S$450 monthly), and accounting for potential vacancy periods and management costs, net yields would settle closer to 1.8–2.5 per cent. These figures assume stable market conditions and tenant retention rates consistent with historical District 11 experience.

How does the S$1.85M asking price compare to recent psf transactions in the Farrer Park and District 11 area?

The S$1,850,000 purchase price translates to approximately S$2,606 per square foot, positioning the unit within the competitive mid-to-upper range for District 11 transactions. Recent comparable sales in the immediate vicinity—properties with similar bedroom counts, bathroom configurations, and MRT proximity—have traded between S$2,500 and S$2,700 per square foot, indicating that Piccadilly Grand's asking price is fairly calibrated to market fundamentals. Transactions occurring within 12 months of this listing show consistent price trajectories, with properties in established developments like Piccadilly Grand commanding modest premiums (typically 2–5 per cent) over newer, more speculative developments in outer districts. The Farrer Park precinct has historically maintained price stability over the medium term, with annual appreciation typically ranging 2–4 per cent, reflecting a mature, well-established residential market characterised by substance rather than speculation.

What Additional Buyer's Stamp Duty (ABSD) would a second-property buyer face at this price point?

For second-property purchasers, the Additional Buyer's Stamp Duty applies at a rate of 15 per cent on the purchase price of residential properties. On a S$1,850,000 transaction, this results in an ABSD liability of S$277,500, which must be paid upon completion of the purchase. This represents a substantial additional cost beyond the purchase price and must be factored into the overall acquisition budget and financing structure. Buyers should note that whilst first-time owner-occupiers are exempt from ABSD, investors acquiring this property as a rental asset or second-time home purchasers will incur this duty, fundamentally affecting the entry cost and cash-on-cash return calculations. Professional tax and legal advice is strongly recommended to explore any potential mitigation strategies or exemptions that might apply to individual circumstances.

What are the lease decay risks and resale value implications if this is a leasehold property?

Like virtually all Singapore residential properties, Piccadilly Grand is held on a leasehold tenure, typically for 99 years from the date of government land grant. It is essential for prospective buyers to verify the remaining lease tenure, as properties with leases below 80 years can experience diminishing mortgageability and capital value erosion. Historical market data demonstrates that properties entering their final 30 years of lease (i.e., approximately 69 years remaining) begin experiencing value depreciation of 1–3 per cent annually as lease expiry approaches, making refinancing and eventual sale progressively more challenging. At the time of this listing, purchasers must conduct a leasehold verification through the Land Titles Registry to ascertain precise remaining tenure and factor this into their long-term investment thesis. The Singapore government's leasehold renewal framework permits eligible leaseholders to extend tenures, though applications involve costs and time. Buyers intending to hold for retirement or pass the property to heirs should particularly prioritise lease duration verification and understand potential future renewal costs.

How does proximity to Farrer Park MRT Station influence demand and long-term capital appreciation?

The 380-metre (5-minute walk) proximity to Farrer Park MRT Station is a primary capital value driver for properties in this location. Properties within 400 metres of MRT stations consistently command 10–15 per cent premiums over comparable units lacking such accessibility, reflecting the fundamental value that efficient transport connectivity delivers. The North-East Line, which serves Farrer Park, connects critical employment nodes including the CBD, Marina Bay, and emerging tech hubs in the north-east corridor, making it particularly attractive to professionals and families prioritising commuting efficiency. Historically, properties near well-established MRT stations in mature districts have demonstrated resilience during market downturns and consistent appreciation during expansion phases, as accessibility remains a non-discretionary requirement for Singapore's urban workforce. The combination of Farrer Park's established character and MRT connectivity creates a compelling investment narrative, supporting both rental demand (from tenants prioritising commute convenience) and capital appreciation potential, particularly as surrounding land intensification projects progress.

Is this property suitable for first-time buyers, upgraders, HNW investors, or all buyer profiles?

Piccadilly Grand at this specification demonstrates broad suitability across multiple buyer classifications. First-time home buyers will appreciate the location's maturity, proximity to essential services, schools, and transport infrastructure, coupled with a price point accessible to dual-income professional households. The dual-bathroom layout and established development credentials reduce initial maintenance concerns. Upgraders transitioning from smaller apartments or HDB properties will find the 710-square-foot footprint and two-bedroom configuration suitable for young families, offering expansion room without the commitment of larger townhouses or landed properties. For high-net-worth individuals, the property presents a lower-concentration allocation within diversified real estate portfolios, whilst the established Farrer Park locale appeals to sophisticated buyers prioritising stability over headline glamour. Buy-to-let investors will value the stable tenant demographics, MRT accessibility, and moderate leverage multiples that current pricing facilitates, typically requiring 25–35 per cent equity for loan approval. The property bridges accessibility across buyer profiles, making it a relatively liquid asset with broad demand appeal.

What TDSR headroom and financing capacity exist for buyers at the S$1.85M price point?

The Total Debt Service Ratio (TDSR) framework, regulated by the Monetary Authority of Singapore, caps debt servicing at 60 per cent of gross monthly income for borrowers. For a S$1,850,000 property requiring typical 75 per cent LTV financing (S$1,387,500 loan at 3.5 per cent over 25 years), the monthly mortgage instalment approximates S$6,200, plus property tax, maintenance fees, and insurance. This configuration remains comfortably within TDSR parameters for households with combined gross monthly income exceeding S$12,000–S$13,000, a threshold readily attained by professional and managerial employees in Singapore's primary employment sectors. Buyers with stronger financial profiles and greater equity deposits will achieve enhanced TDSR headroom, permitting additional leveraged property acquisitions or co-financed investments. Most major Singapore banks offer competitive mortgage rates in the 2.8–3.8 per cent range for owner-occupied residential properties at this loan-to-value tier, and prospective buyers are well-advised to engage mortgage brokers or financial advisers to optimise financing structures relative to individual tax and investment circumstances. Second-property acquirers should factor ABSD costs and potential interest-only periods into total debt servicing calculations.

How does Piccadilly Grand compare to competing developments in immediate proximity?

The Farrer Park micromarket hosts several competing developments at similar price points and specifications, including Regency Suites, Farrer Court, and the adjacent Farrer Residential precinct. Direct comparison across these developments reveals that Piccadilly Grand maintains competitive positioning on a price-per-square-foot basis, typically trading within the S$2,500–S$2,700 range alongside peers. Piccadilly Grand's relative advantages include established track record, mature aesthetic appeal, and consistent maintenance standards accumulated over operational history, contrasting with newer speculative developments that may offer marginally larger units or contemporary finishes but lack the proven community cohesion and long-term value stability. Competing developments closer to the MRT station itself command modest premiums (5–10 per cent), reflecting reduced walking distances, whilst developments positioned further from the station trade at discounts of 3–7 per cent. In terms of amenity offerings, Piccadilly Grand aligns with District 11 standards—resident facilities typically include a gymnasium, swimming pool, tennis courts, and landscaped communal areas, features broadly consistent across established developments in this maturity bracket. Prospective buyers are encouraged to conduct site visits across competing options to assess maintenance standards, facility utilisation, and management responsiveness, factors increasingly determinative of long-term satisfaction and resale negotiating position.

Which unit stack or floor level within Piccadilly Grand represents optimal value and appreciation potential?

Unit positioning within apartment developments materially influences both initial pricing and long-term appreciation potential. Lower-floor units (typically levels 2–5) command discounts of 3–8 per cent relative to mid-floor comparables, primarily reflecting perceived privacy and noise concerns, though lower floors often experience higher tenant demand and reduced vacancies due to accessibility and reduced lift wait times. Mid-floor units (approximately levels 6–18) represent optimal value positioning, commanding modest premiums of 2–5 per cent over lower floors whilst remaining materially below premium pricing imposed on higher-floor units; these units benefit from enhanced privacy, minimal noise transmission, and stable long-term appreciation as they satisfy the broadest tenant and purchaser demographic. Higher-floor units (levels 19+, if applicable) command premiums of 8–15 per cent, reflecting superior views, enhanced privacy, and reduced ambient noise; however, these premiums often fail to sustain during market corrections or tenant transitions, making them relatively illiquid and speculative. East and west-facing orientations attract modest premiums (1–3 per cent) for morning/afternoon light, whilst north-facing units (potentially warmer but lacking cooling sea breezes) trade at slight discounts. For value-oriented purchasers, mid-floor, north or south-facing units in the 6–12 storey range typically represent optimal balance of appreciation potential, tenant rentability, and acquisition cost.

What future supply pipeline exists in District 11 and how does this affect Piccadilly Grand's long-term investment case?

District 11, encompassing the Farrer Park, Tanglin, and Orchard periphery precincts, is a substantially built-out, mature residential zone with severely constrained new-supply capacity. Singapore's planning framework, coupled with land scarcity and premium land costs in central districts, has effectively foreclosed large-scale greenfield residential developments in District 11; most new supply derives from smaller infill projects, collective sales-driven redevelopment, and limited en-bloc activity. This supply scarcity fundamentally supports the investment case for Piccadilly Grand and comparable established properties, as new competitors entering the market face prohibitive costs and extended development timelines, ensuring that existing properties benefit from inelastic supply dynamics. The Urban Redevelopment Authority's (URA) master planning framework indicates limited additional residential zoning for District 11, with emphasis shifting toward mixed-use intensification along transport corridors and heritage preservation in select localities. Consequently, properties in mature developments possess relative insulation from supply-driven price depreciation, a characteristic particularly valuable during cyclical market downturns. The absence of imminent large-scale competing supply, combined with established MRT connectivity and established community infrastructure, positions Piccadilly Grand as a defensive real estate position with modest but stable long-term appreciation potential, contrasting with outer-district properties subject to more volatile supply-driven cycles.

Piccadilly Grand 2BR Condo, S$1.85M, Farrer Park | PropSG