Type

Units

Min Area

Price Range

1 BR

495 sqft

S$3,700/mo

Property Highlights

Condo development with 1 unit currently available.
Prices currently start from S$3,700.
For Singaporean second property buyers, ABSD applies at 20% of the purchase price, approximately S$740 on this acquisition.
Located 9 min (760 m) from DT19 Chinatown MRT Station.

Price Trends & Rental Yield

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The Landmark: A Compact Urban Residence in the Heart of Chinatown

The Landmark stands as a residential offering in one of Singapore's most historically vibrant and economically active precincts. Situated on Chin Swee Road, the development commands a position that bridges the cultural heritage of Chinatown with modern urban convenience. This is not a sprawling development chasing scale, but rather a thoughtfully positioned condominium that serves a specific demographic: urban professionals, downsizers, and astute investors seeking exposure to a prime central location without the premium of a marina-front or CBD address.

Located approximately 9 minutes' walk from DT19 Chinatown MRT Station, the development enjoys meaningful proximity to Singapore's transport spine. This accessibility is particularly significant because Chinatown Station serves as an interchange point connecting multiple lines, amplifying onward connectivity to the Central Business District, Orchard retail, and employment centres across the island. For residents without a car or those prioritising convenience, this walkable distance to mass transit substantially elevates day-to-day quality of life and underpins long-term demand resilience.

Unit Typology and Space Efficiency

The Landmark's unit mix centres on compact footprints, with units beginning at 495 square feet. This dimensional profile reflects the practical reality of inner-city living: space is premium, and efficient design matters more than sprawl. Units of this size typically command strong appeal amongst first-time buyers navigating entry-level acquisition costs, young professionals splitting household expenses, and investors purchasing for rental yield rather than owner-occupancy. The modest unit size also translates to lower absolute acquisition prices, thereby broadening the potential buyer pool and supporting rental demand from short-let and corporate housing markets.

Investment Yield and Rental Dynamics

Chinatown has evolved into a magnet for service workers, hospitality staff, and migrant professionals seeking accommodation close to employment clusters in the central precinct. The Landmark's positioning on Chin Swee Road places it within walking distance of numerous F&B establishments, heritage attractions, and business services, all of which fuel consistent rental demand. Investors evaluating this development should factor in Chinatown's reputation as a stable, counter-cyclical rental zone: even during broader market softness, the precinct retains tenants because of its affordability relative to Marina Bay or Orchard, and its cultural vibrancy, which appeals to long-term renters seeking character and convenience.

Neighbourhood Character and Amenities

Chin Swee Road itself is a thoroughfare steeped in local colour. The surrounding streetscape mixes heritage shophouses, contemporary dining venues, temples, and trading establishments. This heterogeneous fabric means that residents of The Landmark are not isolated in a mono-use precinct; instead, they inhabit a living, working neighbourhood where daily needs—groceries, meals, services—are accessible on foot. For families and professionals alike, this walkability reduces dependency on private transport and contributes to a sense of embeddedness in an established community rather than a sterile new development.

Financing and Cost of Ownership

At price points reflective of this central but non-premium-district location, The Landmark units typically fall within the mortgage capacity of professional first-timers and upgraders. Total Debt Service Ratio (TDSR) calculations for a single-income household purchasing a unit at prevailing market rates should comfortably sit below the 60% regulatory ceiling, assuming standard salary multiples and Central Provident Fund (CPF) eligibility. However, investors purchasing a second residential property must account for Additional Buyer's Stamp Duty (ABSD) at 20% of the purchase price—a material cost that requires careful appraisal in yield projections. This ABSD liability, combined with conveyancing fees and agent commissions, should be incorporated into the total acquisition cost when modelling investment returns.

Lease Structure and Long-Term Value

As with all residential developments in Singapore, lease tenure is a critical consideration for purchasers. The Landmark's lease structure—whether 99-year or 999-year—directly impacts long-term capital retention and mortgage lender appetite. Properties with longer leases or freehold titles naturally command greater refinancing flexibility and depreciate less acutely as years accumulate. Buyers should clarify the exact lease commencement date and tenure at purchase stage, particularly if intending to hold the asset beyond 30 years, as lease decay increasingly affects market perception and transactional velocity in the final decades of shorter tenures.

Positioning Within the Local Competitive Set

Chinatown and adjacent precincts such as Outram and Tanjong Pagar host a variety of residential options ranging from older walk-ups to contemporary condominiums. The Landmark competes in a middle band: newer than heritage conversions but less premium than waterfront or business-district-adjacent schemes. This positioning offers value-conscious buyers a modern, secure, and well-serviced environment without the price premium of branded luxury developments. For investors, this competitiveness is advantageous because it keeps unit prices accessible and rental demand steady—the development is neither so exclusive that it attracts only high-end tenants nor so affordable that it signalsa budget-end precinct.

MRT Station Proximity and Capital Appreciation

The 9-minute walk to Chinatown MRT Station is not incidental; it is architecturally foundational to the development's appeal and equity performance. Properties within 10 minutes' walk of a mass transit node historically outperform those without such proximity in terms of both rental uptake and capital appreciation. This is particularly true in central Singapore, where car ownership is expensive and public transport is the default commute mode. As the city intensifies around transport nodes, The Landmark's position at the Chinatown interchange becomes increasingly valuable. Future transport upgrades—such as any expansion of the MRT network or bus rapid transit enhancements—would likely further strengthen this competitive advantage.

Suitability Across Buyer Profiles

The Landmark appeals to distinct buyer personas. For first-time buyers, the modest unit size and central location offer an affordable entry into the residential property market, with strong rental demand if circumstances change. For upgraders downsizing from larger suburban homes, the walkability and neighbourhood vitality represent a meaningful lifestyle shift towards urban convenience. High-net-worth individuals and institutional investors view such developments as portfolio diversification plays: smaller absolute per-unit exposure, yet positioned in a perennially high-demand zone. For owner-occupiers seeking to rent out, the development's tight fit within the rental market for service workers, students, and professionals ensures stable tenant rotation and relatively low vacancy risk.

Forward-Looking Considerations

The Chinatown precinct is broadly mature, meaning large-scale new supply is unlikely to flood the zone. However, broader district development—such as plans affecting Outram or the potential for heritage regeneration initiatives—can influence perceptions and values over time. Prospective purchasers should stay abreast of public authority announcements regarding zoning, conservation efforts, or neighbourhood master plans that could reshape the local property landscape. Additionally, as Singapore's population stabilises and household sizes shrink, demand for compact, centrally located units such as those at The Landmark should remain resilient, supporting both rental performance and eventual capital recovery.

The Landmark represents a pragmatic, location-first residential proposition. It is neither a speculative development chase nor a luxury indulgence, but rather a solid urban asset in an established, walkable, transit-rich neighbourhood. For buyers prioritising accessibility, rental yield, and exposure to Singapore's cultural heart over size and prestige-branding, this development merits serious consideration.

Frequently Asked Questions

What rental yield should an investor expect from a unit at The Landmark in Chinatown?

The Landmark's positioning in Chinatown, a high-density precinct with strong demand from service workers, hospitality staff, and professionals, typically supports gross rental yields in the 3–4% range, depending on unit size and exact market conditions. Chinatown is a counter-cyclical rental zone, meaning demand remains stable even when broader market sentiment softens, because tenants are attracted by affordability and neighbourhood vibrancy rather than prestige. However, investors must factor in the 20% Additional Buyer's Stamp Duty (ABSD) applicable to a Singapore Citizen's second residential property purchase, which materially reduces net first-year returns and should be amortised across the holding period in yield calculations. The rental market for compact units (around 495 sqft) is particularly robust because supply of affordable central accommodation is limited and demand from younger professionals is steady.

How does The Landmark's per-square-foot price compare to recent transactions in Chinatown and Outram?

The Landmark's price per square foot should be evaluated against recent sales within a 500-metre radius, particularly units at competing condominiums in Chinatown, Outram, and Tanjong Pagar. Properties within walking distance of an MRT interchange typically command a price premium of 5–15% relative to similar units without transit proximity, reflecting the residential market's consistent preference for accessibility. Recent transactions in the zone suggest price points that reflect this transit benefit, and The Landmark aligns with that pattern. Prospective buyers should review recent PropSG transaction history and comparable unit passes (not asking prices) to determine whether current asking rates represent fair value or premium pricing relative to actual market clears in the immediate neighbourhood.

What is the Additional Buyer's Stamp Duty (ABSD) impact if I'm buying The Landmark as a second residential property?

If you are a Singapore Citizen purchasing The Landmark as a second residential property, you must pay Additional Buyer's Stamp Duty (ABSD) at a rate of 20% of the purchase price, in addition to standard Buyer's Stamp Duty. For example, on a S$600,000 purchase, ABSD would amount to S$120,000, a material cost that must be factored into your acquisition budget and financing arrangements. This 20% ABSD is payable within 30 days of the purchase agreement being signed, and it cannot be financed through your mortgage—it must be paid from cash reserves or CPF. The ABSD significantly impacts the total cost of ownership and investment returns, particularly if you intend to rent out the unit; it should be amortised across your projected holding period to accurately model the net rental yield and break-even timeline.

How does the remaining lease tenure affect The Landmark's resale value and mortgageability?

The Landmark's lease tenure—whether 99-year, 999-year, or freehold—is a critical determinant of long-term capital preservation and mortgage lender appetite. Properties with 999-year leases or freehold titles are mortgageable to full loan-to-value (LTV) ratios and depreciate very slowly over decades, whereas a 99-year lease will begin to lose value more noticeably as it approaches 30 years remaining, eventually triggering meaningful discounts in the final decades. If The Landmark is a 99-year leasehold property, buyers should clarify the lease commencement date and plan accordingly for potential lease extension costs in the future. Most banks will still finance 99-year leases, but rates and LTV may become less favourable as the lease decays. For investor purchasers, this lease consideration is particularly important because it affects the development's attractiveness to future buyer pools and therefore influences both rental demand and eventual capital recovery.

How does proximity to DT19 Chinatown MRT Station affect The Landmark's demand and long-term capital appreciation?

The Landmark's 9-minute walk to Chinatown MRT Station is a fundamental asset driver, not a secondary amenity. Chinatown Station is an interchange point connecting multiple lines, meaning residents enjoy direct or near-direct access to the Central Business District, Orchard, and employment clusters across the island without requiring a private vehicle. Properties within 10 minutes' walk of a well-serviced MRT node historically outperform non-transit-adjacent properties in both rental uptake and capital appreciation, particularly in central Singapore where car ownership costs are high and transit is the default commute mode. As the city intensifies around transport nodes and as Singapore's population ages, demand for walkable, transit-rich locations is likely to strengthen, providing tailwind support to The Landmark's long-term value. Any future enhancements to bus rapid transit, pedestrian infrastructure, or the MRT network in this zone would further reinforce this advantage.

Is The Landmark suitable for first-time buyers, upgraders, and investors differently?

Yes, The Landmark appeals to distinctly different buyer personas. First-time buyers benefit from the modest unit footprint (495 sqft+) and central location, which together translate to lower absolute acquisition costs whilst maintaining strong neighbourhood demand; owner-occupation is viable and makes financial sense. Upgraders downsizing from larger suburban homes are attracted to the walkability, cultural vibrancy, and neighbourhood amenities of Chinatown, which represent a genuine lifestyle shift towards urban convenience and reduced car dependency. Investors purchase The Landmark primarily for rental yield, leveraging Chinatown's robust tenant pool of service workers, hospitality staff, and professionals; the compact units suit this market segment well. High-net-worth individuals may view it as portfolio diversification—smaller per-unit exposure, lower absolute capital outlay, yet positioned in a perennially high-demand central zone. Each buyer profile must evaluate The Landmark through a different lens: first-timers focus on affordability and lifestyle fit, upgraders on convenience and vitality, and investors on yield stability and tenant demand.

What TDSR headroom and financing capacity should I expect at typical The Landmark price points?

At typical price points for The Landmark—likely in the range of S$550,000 to S$750,000 depending on unit size and condition—a professional first-time buyer with a gross monthly income of S$6,000–S$8,000 should comfortably satisfy Total Debt Service Ratio (TDSR) requirements, which cap total monthly debt obligations at 60% of gross income. Assuming a 25-year mortgage term and prevailing interest rates around 3–4%, a S$600,000 purchase with a 10% down payment (S$60,000) and S$20,000 in transaction costs would require a total initial outlay of roughly S$80,000 and monthly mortgage payments around S$2,500–S$2,800. For such a buyer, TDSR impact is typically minimal if there are no other material liabilities. However, second-property investors must account for the 20% ABSD upfront, which materially constrains available cash and may require higher income or reduced loan amount to remain within TDSR thresholds. A mortgage broker's pre-qualification is essential before proceeding, particularly if other debts (car loans, credit lines) are present.

How does The Landmark compare to competing developments in Chinatown, Outram, and Tanjong Pagar?

The Landmark occupies a competitive middle band within the central zone. Older walk-up apartments and heritage conversions offer lower absolute prices but lack modern amenities and security; luxury branded developments in Marina Bay or Orchard command higher price per square foot due to prestige and premium amenities. The Landmark sits between these poles: newer than heritage stock, with contemporary finishes and services, yet accessible in price compared to high-end branded schemes. Competing developments in the immediate neighbourhood—such as those in Outram or upper Tanjong Pagar—typically trade at similar or slightly higher price per square foot, reflecting comparable transit access and precinct vitality. The Landmark's advantage lies in its stable demand from renters (supporting investor returns) and its walkable, culturally rich neighbourhood, which appeals to both owner-occupiers and institutional buyers. Prospective purchasers should compare not just price but also unit finish quality, management reputation, and amenity offerings across the local competitive set before committing.

Which unit stacks or floor levels at The Landmark offer the best value proposition?

Unit value at The Landmark should be evaluated on a per-square-foot basis rather than floor level alone, because modern condominiums in built-up precincts like Chinatown rarely command dramatic price premiums for height or view. Mid-level units (floors 5–15) typically offer the best balance of privacy, natural light, and pricing—they avoid the noise and activity of ground-floor and podium zones while not incurring the premium (if any) of higher floors. Lower floor units may appeal to buyers with mobility concerns or those prioritising convenience, though they occasionally trade at slight discounts due to urban noise and reduced privacy. Corner units and units with dual-aspect views may carry 5–10% premiums, depending on market conditions and buyer preferences at the time of sale. For investors focused solely on rental yield, absolute price per square foot should dominate the valuation decision; spend the marginal savings from a less-premium stack on additional marketing or tenant-fit-out to maximise rental appeal rather than paying for prestige location within the development.

What is the future supply and development pipeline for residential stock in the Chinatown and Outram districts?

Chinatown and Outram are mature, largely built-out precincts, which means large-scale new residential supply is unlikely in the immediate term. This low-supply environment supports long-term rental and capital value resilience for existing developments like The Landmark, because new-unit competition is minimal. However, broader district initiatives—such as heritage conservation efforts, shophouse regeneration projects, or master-plan updates by the Urban Redevelopment Authority (URA)—can influence local perceptions and property values over time. Additionally, any future mixed-use or integrated developments in adjacent zones (such as the Greater Southern Waterfront precinct) could alter neighbourhood character and demand dynamics. Prospective purchasers should monitor URA announcements, conservation initiatives, and transport authority plans affecting the central zone. In the medium to long term, the scarcity of new supply in this established zone, combined with steady demand from renters and owner-occupiers seeking central location, should support The Landmark's position as a resilient and relatively defensive residential asset.

What are the key risks and mitigating factors for The Landmark as a long-term property investment?

Key risks include: (1) lease decay, if the development is a 99-year leasehold (mitigated by clarifying lease commencement upfront and planning for eventual extension); (2) neighbourhood change, if Chinatown undergoes significant redevelopment or loses its cultural vitality (mitigated by the zone's established character, URA protection of heritage, and government investment in cultural quarters); (3) rental market softness, if tenant demand weakens during economic downturns (mitigated by Chinatown's counter-cyclical appeal and the essential nature of central accommodation); (4) interest rate rises, which increase mortgage costs and may soften buyer demand (mitigated by strong transit accessibility, which supports long-term demand irrespective of interest rate cycles); and (5) supply shock, if new competitive developments emerge (mitigated by the maturity of the precinct and low likelihood of large-scale supply). Property management quality and building maintenance are also critical; ensure you understand the developer's track record, management reputation, and sinking fund adequacy before purchasing. Regular property inspections and proactive maintenance mitigate structural risks and preserve capital value over the holding period.

[For Rent] The Landmark, 173 Chin Swee Road — From S$3,700