Type

Units

Min Area

Price Range

8 BR

7240 sqft

S$7.2M

Property Highlights

Landed development with 1 unit currently available.
Prices currently start from S$7.2M.
For Singaporean second property buyers, ABSD applies at 20% of the purchase price, approximately S$1.4M on this acquisition.
Located 12 min (980 m) from DT3 Hillview MRT Station.

Price Trends & Rental Yield

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D23 Terraced Houses at Hillview Crescent: Premium Living in Upper Bukit Timah

The D23 development at Hillview Crescent represents a distinctive collection of brand-new 3.5-storey terraced houses positioned within one of Singapore's most coveted residential districts. Located along Hillview Avenue in Upper Bukit Timah, these properties deliver substantial living spaces tailored to buyers seeking generously proportioned family homes in a mature, well-serviced neighbourhood. Each residence combines contemporary architectural finishes with practical layouts designed to accommodate modern family life and entertaining.

These terraced houses feature floor areas spanning over 7,000 square feet, complemented by substantial land plots of approximately 2,650 square feet. The configuration allows for multiple bedroom arrangements across three and a half storeys, providing flexibility for families with varying space requirements. High-quality finishes throughout include marble flooring, contemporary kitchen installations, and walk-in wardrobe facilities that reflect current expectations for premium residential properties in this locale.

Location and Connectivity

Hillview Crescent positions residents within reach of Hillview MRT Station on the Downtown Line (DT3), situated approximately 980 metres or a 12-minute walk away. This proximity to the MRT network ensures efficient commuting to the Central Business District, eastern suburbs, and key commercial nodes across the island. The development's position also provides convenient access to major roads including Bukit Timah Road, enabling straightforward travel to peripheral areas and expressway networks.

The neighbourhood benefits from decades of established infrastructure and community services. Residents enjoy immediate access to multiple supermarket chains, including FairPrice outlets and Giant Express branches within 2 kilometres, alongside neighbourhood shopping experiences at nearby commercial centres. The Rail Mall and other retail destinations situated within walking distance provide everyday shopping convenience without requiring vehicular travel.

Educational Proximity and Family Amenities

Upper Bukit Timah remains recognised as an education-focused district, with numerous primary and secondary institutions situated within the immediate vicinity. Families selecting properties at D23 benefit from the concentration of well-regarded schools positioned within 1 to 2 kilometres, facilitating convenient school runs and after-school activity coordination. Preschool facilities and enrichment centres are similarly accessible throughout the neighbourhood, supporting families with younger children.

The district's established character reflects generations of careful residential planning, with mature tree-lined streets, neighbourhood parks, and community facilities contributing to a cohesive residential environment. The combination of family-friendly infrastructure and urban accessibility makes the area particularly appealing to upgraders seeking enhanced living space whilst retaining proximity to employment centres and urban services.

Investment Potential and Market Positioning

Terraced houses at D23 appeal to a diversified buyer cohort, encompassing owner-occupiers prioritising spacious family accommodation, high-net-worth individuals seeking substantial residential portfolios, and investors evaluating rental yield potential across the premium residential segment. The Upper Bukit Timah district has demonstrated consistent capital appreciation over extended holding periods, supported by constrained supply of new residential development and sustained demand from affluent buyer segments.

Properties in this locale command pricing reflective of their size, location premium, and the restricted availability of comparable new-release terraced housing. Recent transactions in the surrounding area indicate pricing aligned with between S$900 to S$1,100 per square foot for comparable terraced residences, positioning D23 within the expected range for this development stage and specification level. For investors, the stable demographic profile of Upper Bukit Timah and the scarcity of new housing stock present compelling medium to long-term capital appreciation arguments, alongside potential for sustained rental demand from expatriate and local tenant segments seeking premium space.

Design and Specification

Each residence incorporates considered finishes reflecting contemporary expectations for premium residential properties. Marble flooring throughout principal spaces establishes a sense of refinement, whilst modern kitchen installations provide practical workspace for families. Walk-in wardrobe facilities address storage requirements for multi-occupant households, reducing dependency on external furniture and optimising usable living space. The 3.5-storey configuration permits flexible room allocation, enabling homeowners to customise spaces for home offices, guest suites, or specialist leisure facilities according to individual preference.

Outdoor space attached to each terrace provides private garden or courtyard areas suitable for informal entertaining or family recreation. These ancillary spaces enhance the overall appeal of terraced house living by providing direct garden access unavailable within high-rise apartments, a factor contributing to sustained preference for this housing typology among affluent family buyers.

Market Context and Comparison

The Upper Bukit Timah enclave maintains its position as one of Singapore's most established residential destinations, consistently attracting buyers seeking mature neighbourhood character combined with modern housing stock. Comparable new terraced developments in proximate locations command similar pricing premiums, reflecting the district's sustained desirability and supply constraints. The D23 collection competes directly against alternative terraced housing in Bukit Timah and surrounding districts, whilst differentiating through its newly completed specifications and contemporary design approach.

Capital appreciation patterns in established Upper Bukit Timah neighbourhoods have historically exceeded island-wide residential averages, supported by limited new housing releases and persistent demand from buyer segments prioritising this location. The scarcity of new terraced housing in this tier has contributed to price stability and appreciation during past property cycles, positioning fresh releases such as D23 as sought-after opportunities within constrained supply environments.

Future District Development and Planning Considerations

The Upper Bukit Timah planning area is substantially built out, with limited additional residential development capacity anticipated in forthcoming years. This supply constraint reinforces the strategic positioning of new releases such as D23, as the reduced pipeline of comparable properties supports sustained demand and pricing resilience. Buyers selecting properties in this locale benefit from the relative certainty of a mature, unchanging neighbourhood character unlikely to experience significant planning upheaval or large-scale new development.

The stability of the surrounding district makes D23 particularly suitable for long-term owner-occupancy, as the neighbourhood composition and character are unlikely to undergo dramatic transformation. This predictability appeals to affluent families seeking residential permanence and estate-building aspirations, distinguishing this locale from rapidly evolving newer residential areas subject to ongoing intensification and character change.

Frequently Asked Questions

What rental yield might I expect if purchasing a D23 terraced house as an investment property?

Terraced houses in Upper Bukit Timah typically achieve gross rental yields between 2.5% and 3.5% annually, depending on unit configuration, tenant profile, and market-rate fluctuations. A property priced at S$7.18 million could generate monthly rental income in the range of S$15,000 to S$21,000 for a 3-bedroom configuration or equivalent space, translating to annual income of S$180,000 to S$252,000. The yield profile reflects both the premium positioning of the Upper Bukit Timah district, which commands higher rents from expatriate tenants and affluent local renters seeking space, and the constrained supply of comparable terraced housing that supports sustained tenant demand. Long-term capital appreciation potential often exceeds rental yield in this location, making such properties attractive to investors balancing income generation with estate-building objectives.

How does D23 pricing compare to recent price-per-square-foot transactions for terraced houses in Upper Bukit Timah?

Recent transactions for comparable terraced residences in Upper Bukit Timah indicate pricing within the S$900 to S$1,100 per square foot range, with variation reflecting specific location factors, age of property, and specification level. D23 properties at approximately S$7,240 square feet floor area align with this pricing corridor when calculated against the stated development price, positioning the development competitively within the current market for new-release terraced stock. The premium end of this range reflects the scarcity of newly completed terraced housing in this tier and the enhanced specifications offered by D23, including contemporary finishes and original architectural design. Price per square foot in this district has historically demonstrated resilience across property cycles, supporting confidence in long-term value retention.

What is the Additional Buyer's Stamp Duty (ABSD) liability for a Singapore Citizen purchasing a second residential property at D23?

A Singapore Citizen acquiring a second residential property at D23 will incur Additional Buyer's Stamp Duty at the current rate of 20% on the purchase price, calculated on top of standard Buyer's Stamp Duty. For a property valued at S$7.18 million, the 20% ABSD liability would amount to approximately S$1.436 million in additional stamp duty payable at completion. This significant cost should be factored into the total acquisition budget and financing requirements when evaluating D23 properties as investment acquisitions. First-time property buyers and Singapore Permanent Residents are not subject to ABSD, making those cohorts more favourably positioned for acquisition, whilst property investors should model ABSD costs into their return on investment calculations to assess true yield impact.

Given the 99-year and freehold tenure options, how might lease decay impact resale value and financing?

D23 properties are offered on either 99-year or freehold tenure, with significant implications for long-term financing and capital appreciation. Freehold properties present no lease decay risk and maintain consistent financing accessibility throughout ownership, whilst 99-year leasehold properties will experience tenure shortening that could restrict future buyer financing and reduce valuation as the lease descends below 60 years. For investors planning medium-term holding (10-15 years) and subsequent resale, the tenure choice is material to capital retention; properties with remaining lease below 70 years typically attract progressively higher ABSD rates for subsequent purchasers and face stricter loan-to-value restrictions from mortgage providers. Buyers selecting 99-year freehold options at D23 should model the lease decay trajectory and anticipated resale timing to ensure the lease tenure aligns with their wealth management and exit planning objectives. Freehold D23 properties are likely to command higher capital appreciation and sustained resale demand compared to equivalent leasehold units.

How does proximity to Hillview MRT station influence demand and capital appreciation for D23 properties?

The 980-metre walking distance to Hillview MRT Station (DT3) positions D23 within the high-value MRT-proximate catchment, a critical driver of capital appreciation in Singapore's residential property market. Properties within 12 minutes' walk of MRT stations command sustained buyer demand from commuters prioritising transit-oriented living and reducing vehicular dependency, particularly within the affluent Upper Bukit Timah demographic. The Downtown Line connectivity provides efficient access to Marina Bay, Bugis, and eastern suburban nodes, supporting professional cohorts working across diverse employment centres. Historical data indicates that MRT-proximate residential properties appreciate at rates 5-15 percentage points above island-wide averages during extended holding periods, reflecting consistent demand advantage and reduced risk of neighbourhood accessibility degradation. D23's positioning relative to Hillview MRT thus represents a significant capital appreciation advantage compared to more distant terraced properties, justifying premium pricing and supporting investor confidence in long-term value growth.

Which buyer profile is D23 most suitable for: high-net-worth individuals, upgraders, first-time buyers, or investors?

D23 appeals strongest to upgraders transitioning from smaller apartments or landed properties seeking substantially enhanced space within established Upper Bukit Timah neighbourhood; these buyers prioritise owner-occupancy, family accommodation, and neighbourhood stability over capital appreciation velocity. High-net-worth individuals utilise D23 for diversified residential portfolios, estate-building, and multigenerational family accommodation, benefiting from the property's scale and prestige positioning. Property investors view D23 as a long-term capital appreciation vehicle with secondary rental income potential, attracted by constrained supply in Upper Bukit Timah and the sustained demographic appeal of this location. First-time buyers face practical barriers to D23 acquisition given the substantial purchase price and financing requirements, though owner-occupiers with significant equity from prior property disposals represent an attainable segment. The most natural buyer for D23 is the upgrading family seeking quality living space in a proven neighbourhood, though the property's scale, pricing, and investment credentials appeal across multiple buyer archetypes, supporting sustained demand across economic cycles.

What TDSR (Total Debt Service Ratio) headroom is typically available for D23 purchasers at standard financing rates?

Standard mortgage financing for D23 properties at S$7.18 million with 80% loan-to-value (LTV) results in a mortgage obligation of approximately S$5.744 million, generating monthly debt servicing of approximately S$29,000-S$33,000 at prevailing 3.5-4.5% interest rates across 30-year terms. The TDSR ceiling established by Monetary Authority of Singapore (MAS) regulations limits total monthly debt servicing to 60% of gross monthly income, requiring purchasers to demonstrate minimum gross monthly income of approximately S$48,000-S$55,000 to qualify comfortably. High-net-worth individuals and professionals within established careers typically exceed this income threshold significantly, providing substantial headroom for additional debt servicing obligations and maintaining financial flexibility. Property investors and upgraders should model their specific income profiles and existing debt obligations against these benchmarks when assessing financing feasibility and determining the optimal LTV and loan tenor. The requirement for substantial income qualification at this property price point ensures that D23 purchasers are demographically positioned within the affluent segment, supporting neighbourhood cohesion and sustained property value expectations.

How do comparable terraced developments nearby compare to D23 in pricing, specification, and availability?

Upper Bukit Timah contains limited newly released terraced housing comparable to D23; most competing stock comprises resale properties ranging from 10-40 years old, making contemporary specification comparison difficult and favoring new releases on design and sustainability metrics. Terraced properties in proximate locations including Bukit Timah and Holland neighbourhoods command comparable pricing at approximately S$7-S$9 million range for similar floor areas, though few offer newly completed finishes equivalent to D23's contemporary specifications. The scarcity of new terraced development in Upper Bukit Timah differentiates D23 from competing products; most new residential releases in the district focus on apartment typologies rather than terraced housing, limiting direct comparable competition. This supply constraint strengthens D23's market positioning and supports premium pricing relative to older resale stock; buyers selecting D23 benefit from contemporary design, original warranties, and modern building standards unavailable in established resale terraced housing. The limited competitive supply pipeline in Upper Bukit Timah terraced segment reinforces D23's strategic appeal and suggests sustained buyer interest regardless of minor pricing variations relative to older comparables.

Are specific unit stacks or floor levels within D23 likely to offer superior value or appreciation potential?

Within terraced housing typologies, middle-stack units typically command marginal pricing premiums over corner and end-terrace positions, though valuation differentials are smaller than within high-rise apartment developments due to the distinct individual characteristics of each terraced structure. Ground-floor units with direct garden access and private courtyard spaces often attract stronger buyer demand and rental tenant preference, particularly among families with young children and those prioritising outdoor entertaining; these units may command 3-5% premiums relative to upper-level configurations. Upper-level units within D23 offer enhanced natural lighting, reduced noise exposure from street-level activity, and improved privacy characteristics, appealing to owner-occupiers seeking tranquil living environments; these factors support stable valuations comparable to ground-floor positioning. The individual architectural characteristics of each terraced house (frontage width, garden orientation, internal spatial configuration) exert greater influence on value than floor level positioning, suggesting that buyer-specific preferences rather than hierarchical floor analysis should drive unit selection within the D23 collection. Investors should prioritise unit configuration preferences of anticipated end-buyers or tenant profiles rather than pursuing formulaic floor-level optimisation strategies.

What is the anticipated supply pipeline for terraced housing and landed properties in Upper Bukit Timah over the next 5-10 years?

Upper Bukit Timah is substantially built out with limited vacant residential land available for new terraced or landed property development; the district's mature planning configuration and protected green spaces (including nature reserves and golf clubs) substantially constrain the supply pipeline for incremental residential additions. Government land sales initiatives have not identified Upper Bukit Timah as a priority release location in recent years, and the district lacks state land parcels suitable for large-scale residential development, suggesting minimal new terraced housing releases beyond D23 in the near-term horizon. This supply constraint reinforces the strategic value of D23 positioning as a scarce new-release product in a constrained market; future demand from upgraders and investor segments will likely exceed available new housing stock, supporting pricing resilience and capital appreciation. The absence of anticipated competitive supply over 5-10 years differentiates D23 from properties in growth districts experiencing incremental development intensification, and strengthens confidence in long-term value retention for current purchasers. Property investors selecting D23 benefit from supply-demand imbalance in favour of existing stock, providing durable capital appreciation drivers independent of broader economic cyclicality.

Terraced House At Hillview Crescent — From S$7.2M