Type

Units

Min Area

Price Range

1 BR

517 sqft

From S$1.3XM

2 BR

678 sqft

S$1.7XM – S$1.8XM

3 BR

1076 sqft

From S$2.8XM

Property Highlights

Prime 2-bedroom, 2-bathroom unit spanning 678 sqft in central Chin Swee Road location
Just 9 minutes' walk (760m) from Chinatown MRT Station on the Downtown Line
Competitive asking price of S$1,780,000 reflects strong market fundamentals in Outram
Excellent investment potential with high tenant demand near heritage and business districts
Compact, efficient layout ideal for young professionals, upgraders, and astute investors

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Ref: 25152105

The Landmark: A Refined 2-Bedroom Residence in Central Outram

Situated at 173 Chin Swee Road, The Landmark presents a compelling opportunity for buyers seeking an well-positioned property within Singapore's historic Outram enclave. This 2-bedroom, 2-bathroom unit, spanning 678 square feet of carefully planned living space, is offered at S$1,780,000 and merits serious consideration from a range of buyer profiles—whether you are an upgrader looking to move into the heart of the city, a first-time buyer seeking convenience and accessibility, or an experienced investor eyeing steady rental returns in a high-traffic residential corridor.

Location and Connectivity

The property's positioning on Chin Swee Road is one of its principal strengths. This well-established address benefits from exceptional proximity to the Chinatown MRT Station on the Downtown Line, reachable in just 9 minutes on foot (approximately 760 metres). Such proximity to mass transit fundamentally shapes the property's appeal and long-term capital growth potential. The Downtown Line itself runs through some of Singapore's most dynamic districts, connecting Chinatown to the broader CBD, Shenton Way financial hub, and emerging employment precincts further south. This accessibility translates directly into tenant demand, particularly among young professionals, expatriate workers, and business travellers who value the ability to reach their workplace within minutes.

Beyond the MRT, the Outram locality itself is undergoing subtle but meaningful evolution. The area straddles heritage conservation zones and modern urban redevelopment, creating a neighbourhood character that appeals to a distinctly cosmopolitan demographic. Restaurants, heritage shophouses, cultural institutions, and everyday amenities cluster within walking distance, making daily life highly convenient without the noise and congestion associated with more intense commercial zones.

Unit Layout and Space Efficiency

At 678 square feet, this two-bedroom, two-bathroom configuration represents efficient space planning rather than lavish sprawl. Modern condo units of this size are increasingly popular in central Singapore, where premium land cost makes every square foot valuable. The inclusion of two full bathrooms—rather than a typical ensuite-plus-guest arrangement—indicates that the developer prioritised functional separation and privacy, a feature that resonates strongly with both owner-occupiers and investment tenants. This layout works equally well for a couple or a small family, or for two unrelated professionals sharing a well-appointed home.

The 678 sqft footprint also carries significant financial advantages for buyers and investors alike. Maintenance fees and property taxes scale proportionally with unit size, meaning lower ongoing costs than larger units in the same development. For investors, the lower capital outlay per square foot can translate to improved rental yield percentages, though absolute rental income will naturally be lower than larger units.

Market Positioning and Valuation

The S$1,780,000 asking price reflects current market expectations for a well-located, compact two-bedroom unit in this district. Recent transactions in Outram and surrounding areas suggest a price per square foot in the region of S$2,600 to S$2,800, depending on building age, finishes, and specific location within the neighbourhood. At S$1,780,000 for 678 sqft, The Landmark's cost per square foot sits within this realistic range, indicating that the asking price has been carefully calibrated against comparable evidence. Prospective buyers should commission an independent valuation or conduct their own comparative market analysis to ensure comfort with this positioning, particularly if they are obtaining financing.

Investment Suitability and Rental Dynamics

For investors, the Chinatown and Outram corridor has long been recognised as a resilient rental market. The combination of MRT proximity, heritage appeal, and emerging food-and-beverage precincts creates consistent tenant demand. Two-bedroom units in this range typically command monthly rents between S$4,200 and S$5,200, depending on specific amenities, unit condition, and precise location. This suggests a gross rental yield of approximately 2.8 to 3.5 percent per annum—a respectable return for a city-fringe residential property. For upgraders or owner-occupiers, the relatively modest price point means that mortgageability is rarely an obstacle, with most banks willing to lend 80 to 90 percent of the purchase price for qualifying buyers. This accessibility is a tangible advantage over larger or pricier units, which may face stricter lending criteria.

Ownership Considerations and Tax Implications

Prospective buyers should be aware that Additional Buyer's Stamp Duty (ABSD) rules apply to second and subsequent property purchases. At S$1,780,000, ABSD would be payable by purchasers who already own other residential property in Singapore. The rate stands at 15 percent of the purchase price for second property purchases, rising to 20 percent for third and subsequent acquisitions. First-time buyers purchasing The Landmark would not face ABSD liability, making this property particularly attractive for that demographic.

Understanding lease tenure is equally important. If The Landmark is held on a freehold or long-dated leasehold basis (typically 99 years from completion), lease decay risk is minimal in the near to medium term. However, buyers should always verify the lease expiry date and factor in any potential resale impact beyond the 30-year mark. Most financial institutions are comfortable financing units with at least 70 to 80 years remaining on the lease, so this should be clarified during due diligence.

Target Buyer Profiles

First-time buyers will find The Landmark accessible and strategically located, with modest ongoing costs and strong connectivity to employment centres across Singapore. Young professionals and expatriate workers benefit from the central location and the surrounding amenities. Upgraders moving from HDB to a private condo for the first time will appreciate the convenience, security, and modern facilities without the price escalation of larger units or more prime addresses. Empty-nesters downsizing from landed property will find a well-maintained residence that requires minimal external maintenance. Savvy investors seeking a stable, rental-yielding asset in a location with proven tenant demand will see the numbers add up, particularly if they are willing to furnish and market the unit professionally.

Financing and Debt Servicing

Most buyers will require mortgage financing for a property at this price point. Assuming a 90 percent loan-to-value at prevailing interest rates (typically 3.5 to 4.2 percent per annum), monthly mortgage repayments will fall between approximately S$8,000 and S$9,500, depending on loan tenure and rate. The Total Debt Service Ratio (TDSR) ceiling of 60 percent means that purchasers will need a gross monthly household income of around S$13,300 to S$15,800 to comfortably service the debt. For couples or co-purchasers, this threshold is easily achievable, even for middle-income earners. This affordability is one reason why centrally located, modestly sized units like this one remain highly sought.

Competitive Context and Market Dynamics

The Outram and Chinatown precincts are served by a number of established residential developments, ranging from older walk-ups to newer, fully-amenitied condos. The Landmark's competitive advantage lies in its specific address, MRT accessibility, and the reasonable pricing relative to newer, larger units in similar proximity to transit. Nearby competing developments exist, but The Landmark's footprint and price point occupy a distinct market segment—neither entry-level nor ultra-prime, but rather a practical middle ground that appeals to a broad buyer base.

Future Considerations and District Outlook

Singapore's urban planning intentions for the Outram and Chinatown area emphasize heritage conservation and careful urban renewal rather than wholesale redevelopment. This means that large-scale new supply is unlikely to flood the market, preserving the scarcity value of existing residential stock. The ongoing rejuvenation of the precinct—with attention to pedestrian spaces, cultural institutions, and mixed-use activation—should support long-term capital appreciation, albeit at a measured pace consistent with secondary-location residential properties. Buyers should view this as a location with steady, sustainable appreciation potential rather than explosive growth.

Conclusion

The Landmark at 173 Chin Swee Road offers a well-located, efficiently designed two-bedroom residence in one of Singapore's most characterful neighbourhoods, within striking distance of major employment and transport nodes. The S$1,780,000 asking price is market-aligned, the financing profile is accessible, and the rental yield for investors is respectable. Whether you are making your first entry into the private residential market, upgrading from public housing, or deploying capital into a proven, rental-yielding asset, this property warrants close inspection and serious consideration.

Frequently Asked Questions

What is the estimated gross rental yield if I purchase The Landmark as an investment property?

Based on current market data for well-located two-bedroom units in the Chinatown and Outram corridor, monthly rents typically range from S$4,200 to S$5,200. For a unit purchased at S$1,780,000, this translates to a gross rental yield of approximately 2.8 to 3.5 percent per annum. The yield sits at the mid-to-upper end of Singapore's residential market, reflecting strong tenant demand from young professionals and expatriates attracted to the MRT proximity and central location. Net yields will be lower once maintenance fees, property taxes, and potential vacancy periods are factored in, but the gross yield is competitive for this price segment and location.

How does the S$1.78M price compare to recent per-square-foot transactions in Outram and Chinatown?

Recent comparable sales in the Outram and Chinatown areas suggest a price per square foot of between S$2,600 and S$2,800, depending on building age, unit condition, and proximity to amenities. The Landmark's asking price of S$1,780,000 for 678 sqft equates to approximately S$2,624 per square foot, placing it comfortably within the market range and suggesting fair value relative to recent evidence. This comparison indicates that the asking price has been benchmarked sensibly against comparable transactions, though individual buyers should commission their own valuations or sales comparables analysis to validate comfort with the pricing.

What are my ABSD obligations if I purchase The Landmark as a second property?

Additional Buyer's Stamp Duty applies to second and subsequent residential property purchases in Singapore at a rate of 15 percent of the purchase price for the second property. For The Landmark at S$1,780,000, this would result in ABSD liability of approximately S$267,000. Third and subsequent property purchases face a 20 percent ABSD rate. However, first-time buyers purchasing their primary residence incur no ABSD, making this property particularly attractive for that demographic. It is crucial that prospective purchasers understand their ABSD obligation before committing to purchase, as this tax significantly increases the total cost of acquisition.

Is there a lease decay risk with The Landmark, and how might this affect future resale value?

The lease tenure of The Landmark is a critical factor that must be verified during due diligence. If the property holds a 99-year leasehold from the time of development completion or a freehold title, lease decay risk is minimal in the near to medium term and should not meaningfully impact resale value within the next 20 to 30 years. However, if the lease has already decayed significantly (for example, if only 60 to 70 years remain), this will eventually become a resale consideration as the lease term continues to reduce. Most financial institutions are willing to finance residential units with at least 70 to 80 years remaining on the lease, so purchasers should confirm the exact expiry date and factor this into their long-term ownership strategy. For properties with substantial remaining lease tenure, this should be treated as a minor consideration relative to location and current market value.

How does proximity to Chinatown MRT Station affect The Landmark's demand and capital appreciation potential?

Proximity to the Chinatown MRT Station—just 9 minutes' walk or 760 metres away—is a fundamental strength that directly enhances demand and long-term capital appreciation. The Downtown Line connects Chinatown to the CBD, Shenton Way financial district, and emerging employment hubs to the south, making the location highly attractive to employed professionals who value commuting efficiency. This accessibility generates consistent tenant demand for investment properties, contributing to stable rental yields and lower vacancy risk. From a capital appreciation perspective, properties within 400 to 800 metres of MRT stations historically outperform those further away, and the data is well-established in Singapore's market. The Landmark's position capitalises on this dynamic, providing both owner-occupiers and investors with a property that benefits from structural demand drivers tied to transport infrastructure.

Is The Landmark suitable for first-time homebuyers, and what are the advantages?

Yes, The Landmark is well-suited to first-time buyers for several compelling reasons. First, the S$1,780,000 price point is significantly more affordable than premium locations or larger units, making entry to the private residential market achievable for middle-income households. Second, as first-time buyers, you incur no ABSD liability, reducing the total acquisition cost compared to investors or upgraders purchasing a second property. Third, the two-bedroom, two-bathroom layout provides ample space for a couple or small family without excessive unused square footage or inflated maintenance fees. Fourth, the central Chinatown location offers superior accessibility to employment, education, healthcare, and leisure amenities, reducing reliance on a car. Finally, the moderate size and price point mean that financing is typically straightforward, with most banks willing to lend 80 to 90 percent of the value, leaving a manageable deposit requirement of S$178,000 to S$356,000.

What is my TDSR headroom at this price point, and will I face financing difficulty?

The Total Debt Service Ratio ceiling in Singapore is 60 percent of gross monthly household income. At S$1,780,000 with a typical 90 percent loan-to-value and mortgage tenure of 25 to 30 years, monthly repayments will fall between approximately S$8,000 and S$9,500, depending on prevailing interest rates (currently 3.5 to 4.2 percent per annum). This means you will need a gross monthly household income of around S$13,300 to S$15,800 to comfortably stay within TDSR limits. For most employed professionals and dual-income households, this threshold is easily achievable, and financing obstacles are unlikely. The moderate price point of this property is one reason it remains highly accessible compared to larger units or premium-location properties, which may require significantly higher incomes to satisfy TDSR criteria.

How does The Landmark compare to nearby competing developments in the Outram and Chinatown precincts?

The Outram and Chinatown areas host a range of residential developments spanning different eras and price points, from older walk-up apartments to contemporary condominiums. The Landmark's competitive positioning is defined by its specific address, walkable distance to Chinatown MRT, reasonable asking price, and efficient two-bedroom layout. Competing developments in the vicinity typically command similar per-square-foot prices, but may offer larger units, more comprehensive amenities, or younger building stock at proportionally higher prices. Conversely, older developments may offer lower absolute prices but carry higher maintenance costs and fewer modern conveniences. The Landmark occupies a practical middle ground—neither budget-entry nor ultra-premium—appealing to upgraders, first-time buyers, and investors seeking value without compromising location or connectivity. Direct comparison of unit-level finishes, maintenance fee structures, and specific amenity packages is advisable before final decision-making.

Are certain unit stack or floor levels at The Landmark better value than others?

This recommendation requires detailed knowledge of The Landmark's specific floor plans and unit distribution, which should be confirmed with the developer or current sales team. However, general principles suggest that mid-to-upper floor units typically command a modest premium over lower floors due to reduced noise, improved natural light, and privacy perception, though this premium is usually modest in city-fringe locations. Units with east or west-facing exposures may be slightly less desirable due to sun exposure and heat load, whilst north-facing units are generally preferred for consistent, less intense daylight. Corner units occasionally offer better cross-ventilation and unique spatial layouts, commanding a small premium. From a pure value perspective, well-positioned mid-floor units with northern or south-facing orientations often represent the best balance of price and liveability. Prospective buyers should inspect multiple units across different floor levels and ask the sales team or agent about any pricing variations, which will illuminate where the best value lies.

What is the future supply pipeline for residential properties in the Chinatown and Outram district?

Singapore's Urban Planning Authority has designated the Chinatown and Outram precinct as an area emphasising heritage conservation, cultural preservation, and careful urban renewal rather than wholesale high-density redevelopment. This regulatory and planning stance means that large-scale new residential supply is unlikely to flood the market in the near to medium term, preserving scarcity value and supporting long-term capital stability for existing units. The ongoing rejuvenation of the district—focused on pedestrian spaces, cultural institution activation, and curated mixed-use development—should enhance the neighbourhood's appeal without fundamentally altering its character or saturation. This contrasts sharply with fast-growing, newly developed regions where new supply regularly pressures prices. For purchasers of The Landmark, the restricted supply outlook is favourable, supporting steady, sustainable capital appreciation and tenant demand rather than explosive growth or depreciation risk.

The Landmark 2-Bed Condo, $1.78M near Chinatown MRT