Type

Units

Min Area

Price Range

3 BR

1163 sqft

S$1.8M

Property Highlights

Condo development with 1 unit currently available.
Prices currently start from S$1.8M.
For Singaporean second property buyers, ABSD applies at 20% of the purchase price, approximately S$358K on this acquisition.
Located 15 min (1.25 km) from NE9 Boon Keng MRT Station.

Price Trends & Rental Yield

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The Elysia: A Contemporary Urban Residence on Mar Thoma Road

The Elysia is a residential condominium development situated on Mar Thoma Road, a well-established address in the Boon Keng area of Singapore's Central Region. The development represents a thoughtful addition to this neighbourhood's housing stock, offering contemporary apartment living within a district known for its accessibility and established community infrastructure. Located just 1.25 kilometres from Boon Keng MRT Station on the North-East Line, The Elysia provides residents with convenient access to Singapore's public transport network, making it an attractive proposition for both owner-occupiers and investors seeking efficient connectivity.

Mar Thoma Road itself is a neighbourhood corridor characterised by mature residential developments and local retail. The area has established itself as desirable middle-ground real estate, positioned between the intensity of Singapore's central business districts and the suburban reach of outer regions. For buyers evaluating this location, the district offers a proven track record of stable residential demand and gradual capital appreciation over time. The Boon Keng precinct has also benefited from consistent HDB and condominium development, creating a demographic mix that supports both rental and owner-occupier markets.

Proximity to Boon Keng MRT and Transport Access

The location's defining advantage is its measured distance from Boon Keng MRT Station. At approximately 15 minutes' walk or a short ride away, residents enjoy meaningful connectivity without the noise or congestion sometimes associated with direct MRT adjacency. The North-East Line itself connects Boon Keng to key employment nodes including the business district, creating a reliable commute corridor for professionals and families. Beyond rail, Mar Thoma Road benefits from bus services and is positioned within reasonable driving distance of the Central Expressway and other major arterial roads, supporting multi-modal transport flexibility.

This balanced MRT proximity has historically supported steady appreciation in the Boon Keng area, as the station attracts working-age buyers and young families seeking efficiency without premium pricing. The development's position—close enough for convenience but not so proximate as to trigger noise complaints—appeals to discerning buyers who prioritise livability alongside connectivity.

Condominium Living and Community Features

As a condominium, The Elysia likely incorporates communal facilities typical of contemporary residential developments, including managed grounds, security provisions, and shared amenities that contribute to resident experience and resale appeal. Condominium ownership in Singapore provides a defined strata structure, transparent management frameworks, and built-in community governance through the management corporation. For upgraders transitioning from HDB flats or first-time private property buyers, the condominium model offers structured living with defined responsibilities and shared cost-sharing for maintenance and upgrades.

The development's positioning as a modern build suggests contemporary design standards, energy efficiency features, and materials specification aligned with current expectations. Units across the project likely feature open-plan living, integrated kitchen configurations, and finishes that appeal to the contemporary aesthetic preferred by Singapore's affluent residential market.

Market Positioning and Buyer Profiles

The Elysia appeals to multiple buyer segments. For upgraders stepping up from HDB ownership, the development offers private condominium credentials and amenity access without the premium pricing of ultra-central locations. International buyers and expatriates benefit from the established neighbourhood character and proximity to expatriate-friendly amenities. Owner-occupiers seeking a balanced lifestyle appreciate the quieter residential setting combined with MRT access. Investors targeting the rental market find The Elysia positioned in a neighbourhood with consistent tenant demand, supported by the working-age demographic drawn to Boon Keng's transport links and affordability positioning.

Pricing and Investment Considerations

Prices across the development reflect the mid-tier positioning of this precinct. The Elysia's pricing structure sits between the ultra-central premium markets and the value-focused outer regional offerings, making it accessible to a broad buyer base whilst maintaining capital stability. For investors evaluating yield potential, Boon Keng's demographic mix and established rental market typically support mid-range yields, with consistent tenant enquiry from professionals commuting via the North-East Line. The development's modern specifications and amenity offering support premium rental positioning within the Boon Keng category.

Buyers purchasing as a second residential property should be aware of Additional Buyer's Stamp Duty implications. A Singapore Citizen acquiring a second residential property is currently liable for 20% ABSD on the purchase price, significantly increasing acquisition costs compared to first-property purchases. This consideration materially affects investment returns and financing structuring for investors. Careful evaluation of gross yield potential against ABSD costs is essential before commitment.

District Dynamics and Future Outlook

The Boon Keng area continues to evolve as a stable middle-market residential zone. The district's maturity—with established schools, established retail, and consistent transport infrastructure—suggests ongoing demand stability rather than dramatic appreciation or depreciation. The North-East Line's role in Singapore's transport hierarchy, combined with ongoing residential development across the east region, supports sustained buyer interest in accessible precinct addresses like Mar Thoma Road. For buyers with a medium to long-term holding horizon, this location offers capital preservation and modest appreciation potential rather than speculative upside.

The Elysia represents contemporary condominium living positioned at the intersection of accessibility, community establishment, and prudent pricing. Its appeal spans upgraders, first-time private property buyers, owner-occupier professionals, and yield-focused investors evaluating the mid-tier residential market. The development's market position reflects Boon Keng's sustained role as a balanced residential precinct within Singapore's residential hierarchy.

Frequently Asked Questions

What is the estimated rental yield potential for The Elysia if purchased as an investment property?

Rental yield for condominium developments in the Boon Keng area typically ranges between 2.5% to 3.5% gross yield, depending on unit configuration, floor level, and current market rental rates. The Elysia's positioning as a modern development with contemporary amenities and proximity to Boon Keng MRT Station supports tenant appeal within this range. For investors, yield calculation must account for Additional Buyer's Stamp Duty (20% for a second residential property purchased by a Singapore Citizen), which substantially impacts net return on capital deployed, potentially reducing effective yield by 0.6% to 0.9% annually over a standard holding period. Professional property valuation and local rental comps analysis are essential before investment commitment, as yield assumptions vary significantly based on unit type and market timing.

How does pricing per square foot at The Elysia compare to recent transactions in the Boon Keng district?

Recent condominium transactions in the Boon Keng and Mar Thoma Road vicinity typically reflect pricing in the region of S$1,400 to S$1,650 per square foot, reflecting the district's mid-tier positioning within Singapore's residential hierarchy. The Elysia's pricing aligns with or slightly above this benchmark, consistent with the development's contemporary specifications and modern amenity offering. Comparison transactions should account for variables including exact MRT proximity, building age and condition, facility quality, and market timing—properties within 800 metres of Boon Keng MRT command premium pricing relative to less accessible addresses. Buyers should review recent arm's-length transactions for directly comparable unit types (bedrooms, gross floor area, floor level) to establish precise valuation benchmarks rather than relying on district-wide averages.

What is the Additional Buyer's Stamp Duty (ABSD) impact for purchasing The Elysia as a second property?

Singapore Citizens purchasing The Elysia as a second residential property incur Additional Buyer's Stamp Duty at the current rate of 20% on the purchase price. For a property priced at S$1.8 million, this equates to approximately S$360,000 in ABSD—a material cost that materially increases total acquisition expenditure and must be carefully factored into investment analysis and financing planning. This ABSD applies in addition to standard Stamp Duty on the purchase price, creating a cumulative tax burden that significantly affects cash-flow requirements and overall investment return. Buyers should consult with a tax advisor or solicitor to fully understand the ABSD implications and explore any available exemptions or reliefs based on individual circumstances, particularly if disposing of an existing property concurrently.

What is the lease tenure at The Elysia, and how does it affect long-term resale value?

The lease tenure for The Elysia is not explicitly detailed in available information and should be confirmed with the developer or selling agent as a critical due-diligence step. Condominium developments in Singapore typically feature 99-year leases, 999-year leases, or occasionally Freehold titles, each carrying distinct resale value implications. Properties with 99-year leases diminish in value as the lease term decays—resale value typically begins declining noticeably once the unexpired lease falls below 60 years, affecting financing availability and buyer demand. For investment properties, lease tenure directly impacts the investment timeline; a 99-year lease may suit medium-term holding (10–20 years) but becomes problematic for very long-term capital preservation. Buyers should establish the precise lease tenure, calculate the unexpired lease at purchase and over their intended holding period, and consider whether lease renewal provisions apply (a complexity that varies and is not universally available in Singapore).

How does proximity to Boon Keng MRT Station affect demand and long-term capital appreciation?

MRT proximity is a primary driver of residential demand and capital appreciation in Singapore, as it directly correlates with commute efficiency and lifestyle convenience. The Elysia's location approximately 1.25 kilometres from Boon Keng MRT Station on the North-East Line positions it within an optimal accessibility range—close enough for practical commuting but far enough to avoid noise, traffic congestion, and premium pricing associated with direct MRT adjacency. The North-East Line itself serves major employment precincts and residential nodes, supporting sustained tenant demand from working professionals and families. Properties within this distance band from MRT stations have historically demonstrated stable capital appreciation aligning with inflation and Singapore's long-term property market growth, particularly in established districts like Boon Keng where supply is constrained and demand is supported by institutional factors (schools, retail, transport hierarchy). Over extended holding periods, MRT-proximate locations in mature neighbourhoods typically outperform non-MRT accessible addresses, supporting resale liquidity and financing availability.

Which buyer profiles—HNW, upgraders, first-timers, investors—is The Elysia most suitable for?

The Elysia appeals across multiple buyer segments due to its mid-market positioning and balanced location profile. Upgraders transitioning from HDB flats to private condominium ownership find The Elysia attractive because it offers contemporary amenities and condominium status without the ultra-premium pricing of central locations, reducing the financial step-up required. First-time private property buyers benefit from the development's modern specifications, established neighbourhood credentials, and mid-tier pricing, which support mortgage accessibility and reduced acquisition costs compared to premium precincts. Owner-occupier professionals value the MRT proximity combined with quieter residential character, making The Elysia suitable for families and working-age individuals prioritising livability and transport efficiency. Yield-focused investors find the development positioned in an established rental market with consistent tenant demand supported by the demographic attracted to Boon Keng's affordability and connectivity; however, ABSD costs at 20% materially compress net returns and require rigorous yield analysis. High-net-worth buyers are less likely to prioritise this development unless seeking yield-generating rental assets rather than primary residences, as the precinct lacks the prestige associated with ultra-central or highly coveted addresses.

What are TDSR and financing headroom considerations at The Elysia's typical price points?

Total Debt Service Ratio (TDSR) is a regulatory ceiling imposed by the Monetary Authority of Singapore that limits the aggregate monthly debt repayment (including the proposed mortgage) to a maximum of 60% of gross monthly income. For The Elysia's typical pricing around S$1.8 million, a buyer with modest leverage (70% LTV financing, approximately S$1.26 million mortgage) would service monthly repayments of approximately S$6,500–S$7,000 depending on prevailing interest rates and loan tenure (typically 30 years for condominium financing). To comfortably manage TDSR, a buyer requires gross monthly income of approximately S$11,000–S$12,000 (assuming no other debts), equivalent to annual income of S$132,000–S$144,000. First-time property buyers may face stricter financing criteria and lower LTV ceilings (60–65% LTV versus 75% LTV for subsequent properties), requiring larger downpayments and reducing financing headroom. Buyers should stress-test affordability against potential interest rate increases (from current levels to 3.5–4.5% over the loan tenure), which would materially increase monthly repayments and TDSR burden; conservative cash-flow planning should assume higher rate environments to ensure sustained serviceability across economic cycles.

How does The Elysia compare to competing condominium developments in the Boon Keng area?

The Boon Keng district hosts competing developments including established projects that similarly target mid-market owner-occupiers and investors. Competing properties vary across several dimensions: age and condition (newer developments like The Elysia command premium pricing for contemporary specifications, whilst older developments offer value positioning), MRT proximity (some competitors may be further from the station, affecting pricing and tenant appeal), and amenity sophistication (modern facilities and building management justify pricing premiums). The Elysia's positioning as a contemporary development with modern amenities positions it at a competitive price point relative to comparable-age competitors, though older, fully depreciated developments in the same area may offer value-price positioning at the expense of specification and ambiance. Buyers should conduct direct comparison of unit configurations, floor plates, amenity offerings, management track record, and per-square-foot pricing across The Elysia and 2–3 direct competitors to establish fair market valuation. Differences in lease tenure, maintenance history, and building reputation also materially affect comparative valuation; professional valuation incorporating these variables is prudent for significant acquisition decisions.

Which unit stacks, floor levels, or configurations offer best value at The Elysia?

Value optimisation at The Elysia depends on balancing purchase price against livability factors and resale appeal. Lower-floor units (levels 3–5) typically command modest discounts relative to mid-and-upper-floor equivalents due to reduced natural light, privacy perception, and ambient noise proximity to common areas; however, the discount often exceeds the genuine livability reduction for investor-focused buyers and pragmatic owner-occupiers. Mid-floor units (levels 8–15, typical for 20–25 storey developments) represent a balanced positioning, offering good natural light, reduced noise, and premium pricing that reflects market consensus—they typically command highest per-square-foot pricing due to preferred characteristics. Upper-floor units (levels 16+) attract lifestyle premiums for views and perceived exclusivity, supporting higher pricing but often offering marginal incremental benefit relative to mid-floor equivalents; the premium may not justify the additional capital for value-focused investors. Central stack positions (units facing the development's interior courtyard or amenity zones) typically price at a discount relative to perimeter units with external views, representing potential value for renters and owner-occupiers less sensitive to visual aesthetics. Buyers should prioritise functional configuration (flow, bedroom positioning, kitchen utility) and MRT-side orientation over extreme floor-level premiums, as these functional factors more materially affect rental appeal and long-term satisfaction than cosmetic positioning variables.

What is the future supply pipeline in the Boon Keng and North-East district, and how might it affect property values?

The Boon Keng area has historically seen measured residential development, with a supply pipeline constrained by limited availability of large-scale development sites and the district's mature planning status. New condominium launches in the broader North-East region (including adjacent precincts like Serangoon, Potong Pasir, and Whampoa) have moderately increased residential supply over the past 5–7 years; however, the Boon Keng station precinct itself remains supply-constrained relative to central and eastern locations, limiting oversupply risk. Future supply in the district is likely to come from Government Land Sales (GLS) sites and en-bloc redevelopment of older buildings rather than greenfield development; current GLS planning indicates measured supply additions over the next 3–5 years without dramatic acceleration. For The Elysia, this moderate supply environment supports capital preservation and gradual appreciation, as new competing inventory is unlikely to overwhelm the established demand base. However, buyers should remain alert to shifts in GLS scheduling or announced large-scale development projects that could moderately increase future supply; long-term property values in any district are ultimately supported by demand fundamentals (population, income, transport access) rather than supply scarcity alone. Monitor URA Master Plan updates and HDB new-build announcements for forward supply signals, and factor measured price appreciation (2–3% annually) rather than speculative upside into investment planning.

[For Sale] The Elysia — From S$1.8M