Type

Units

Min Area

Price Range

2 BR

861 sqft

From S$1.1XM

Property Highlights

2-bedroom, 2-bathroom unit priced at S$1,180,000 in the Bukit Panjang district
Just 230 metres from Bukit Panjang MRT Station (DT1 line), offering excellent connectivity
861 sqft of living space positioned for both owner-occupiers and investors
Strong location within the Woodlands Road corridor with established amenities
Well-positioned for rental yield potential and long-term capital appreciation

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Ref: 500093105

The Tennery: A Modern 2-Bedroom Condo at Bukit Panjang

The Tennery represents a compelling opportunity for buyers seeking a 2-bedroom, 2-bathroom residence in one of Singapore's most accessible suburban locations. Situated at 3 Woodlands Road, this 861 sqft unit is offered at S$1,180,000, positioning it as an attractive option for both owner-occupiers and property investors looking to enter or expand their portfolios in the northern corridor.

One of the standout advantages of this property is its proximity to Bukit Panjang MRT Station on the Downtown Line. At just 230 metres away—a mere 3-minute walk—residents enjoy seamless connectivity to the broader MRT network without the premium pricing typically associated with prime central locations. This accessibility fundamentally transforms daily commuting, whether heading to the Central Business District or accessing the wider island network.

Location and Connectivity

The Bukit Panjang district has matured considerably over the past decade, establishing itself as a desirable residential neighbourhood that balances suburban tranquility with urban convenience. The proximity to the MRT station is not merely a transport advantage; it serves as a major catalyst for property appreciation in the area. Residents benefit from reduced reliance on private transport, lower travel costs, and significantly shorter commute times compared to areas without such direct MRT access.

Woodlands Road itself is a well-established corridor with a history of stable property performance. The surrounding neighbourhood offers a mix of HDB estates and private residential developments, creating a diverse community environment. Shopping, dining, and recreational facilities are within easy reach, and the area continues to see gradual upgrades to its infrastructure and amenities.

Space and Layout

At 861 sqft, this unit provides a practical floor plan suitable for young professionals, upgraders, and small families. The two-bedroom configuration offers flexibility for home office arrangements, whilst the second bathroom adds convenience for households with multiple occupants. Modern condo living in this district typically emphasises efficient use of space, and this unit reflects that contemporary design philosophy.

The size also positions it favourably within the broader market. It avoids the compact constraints of studio or 1-bedroom units, whilst remaining significantly more affordable than sprawling 3-bedroom offerings. For investors, this sweet spot in unit size typically translates to strong rental demand and consistent tenant retention.

Investment Potential and Rental Yield

From an investment standpoint, The Tennery presents an interesting prospect. The price point of S$1,180,000 for an 861 sqft unit equates to approximately S$1,371 per sqft, which sits within the realistic range for newer private developments in the Bukit Panjang area. Rental yields in this district typically hover between 3 and 3.5 percent, depending on unit condition, layout, and specific amenities. At this price level, monthly rent would likely fall in the region of S$3,200 to S$3,500, translating to an annual gross yield of around 3.2 to 3.6 percent.

The MRT proximity significantly enhances rental appeal, as tenants actively prioritise locations with direct station access. The 2-bedroom, 2-bathroom layout has demonstrated consistent tenant demand in the northern corridor, particularly among working couples and small families seeking central location without central location pricing. Long-term appreciation potential is supported by the district's maturity and the scarcity of new private residential launches in the immediate vicinity.

Market Positioning and Price Competitiveness

Recent comparable sales in the Bukit Panjang and Woodlands Road area suggest that S$1,180,000 is positioned competitively. Properties at similar psf rates have transacted in this district, with some newer developments commanding slightly higher psf due to enhanced facilities or closer MRT integration. This unit, therefore, represents fair market value without overpaying for premium branding or flagship amenities.

The price does not include any extraordinary premiums typical of city-fringe locations, making it accessible to a broader spectrum of buyers. For first-time property purchasers saving for their initial private residential investment, this price point offers a realistic entry point, particularly when combined with financing options and HDB downpayment recycling schemes where applicable.

Financing and TDSR Considerations

At S$1,180,000, potential buyers should anticipate a maximum financing of approximately S$885,000 (75% loan-to-value), requiring an outlay of roughly S$295,000 as a cash downpayment, plus additional stamp duties and legal fees. For qualifying individuals, this translates to a monthly mortgage of approximately S$4,400 to S$4,700 depending on the chosen tenure (25 to 30 years) and prevailing interest rates.

Under TDSR (Total Debt Servicing Ratio) guidelines, buyers must demonstrate a monthly gross household income of at least S$15,000 to comfortably service this mortgage whilst remaining within the 60 percent TDSR threshold. This remains achievable for dual-income households and establishes no extraordinary financing barriers for buyers with stable employment records.

Suitability for Different Buyer Profiles

High-net-worth individuals seeking portfolio diversification will find this unit appealing as a lower-risk rental asset in a stable, MRT-proximate location. First-time buyers, particularly upgraders from HDB flats, will appreciate the accessibility without central location pricing, whilst owner-occupiers in professional roles will value the commuting convenience. Young families and couples benefit from the thoughtfully configured 2-bedroom layout and proximity to schools and family-oriented amenities.

Investors reviewing the northern corridor will recognise that whilst newer developments occasionally offer slightly enhanced facilities, the fundamental appeal of MRT proximity and established neighbourhood credentials justifies this unit's positioning within the market.

Future Market Drivers

The Bukit Panjang district is unlikely to experience dramatic new supply in the immediate term, given land constraints and planning restrictions in the area. This supply scarcity, combined with ongoing MRT system expansion and infrastructure development throughout the northern corridor, positions existing units favourably for long-term appreciation. The district's maturity and established community infrastructure provide stability often lacking in newer, more speculative locations.

The Tennery, therefore, represents not merely a residential purchase but a strategic positioning within one of Singapore's most fundamentally sound suburban markets.

Frequently Asked Questions

What is the estimated annual rental yield for The Tennery at S$1,180,000?

Based on prevailing rental rates in the Bukit Panjang district, a 2-bedroom unit of this calibre typically achieves monthly rental of S$3,200 to S$3,500, translating to an annual gross yield of approximately 3.2 to 3.6 percent. This yield assumes stable tenancy and modest annual rental growth aligned with historical district trends. The MRT proximity enhances rental appeal significantly, as tenants actively prioritise locations with direct station access, supporting consistent tenant demand and lower vacancy rates compared to non-MRT-proximate properties.

How does the S$1,371 per sqft price compare to recent transactions in Bukit Panjang?

The effective price of S$1,371 per sqft at The Tennery sits within the established range for 2-bedroom units in the Bukit Panjang area, particularly for properties within the 800 to 900 sqft bracket. Recent transactions in the immediate vicinity have ranged from S$1,300 to S$1,450 per sqft, depending on unit condition, floor level, and specific amenities. This unit does not command any extraordinary premium for branding or flagship facilities, positioning it as fair market value for the Woodlands Road corridor, making it competitive without overpaying relative to comparable recent sales data.

What are the ABSD implications for a second-property buyer purchasing at S$1,180,000?

Second-property buyers will be liable for Additional Buyer's Stamp Duty (ABSD), which on a S$1,180,000 purchase equates to approximately S$70,800 when calculated at the standard rates applicable to residential properties held by Singapore citizens. For permanent residents, the rate is marginally higher. This ABSD must be factored into the total acquisition cost alongside the standard 4 percent Buyer's Stamp Duty (approximately S$47,200) and legal fees. The combined stamp duty burden, therefore, reaches roughly S$118,000, effectively increasing the total cash outlay required to approximately S$413,000 inclusive of the downpayment.

Is there lease decay risk, and how will it affect The Tennery's resale value?

The Tennery, as a private condominium, operates under a 99-year leasehold tenure from original date of lease commencement. Provided the development is relatively recent or mid-vintage, lease decay during typical owner holding periods of 5 to 15 years remains negligible, with minimal impact on resale value or financibility. However, buyers should verify the exact lease commencement date and remaining tenure length, as properties approaching the 70-year mark will face increasing scrutiny from refinancing institutions. Long-term capital appreciation potential may be modestly constrained in the final 20 years of the lease, a factor to consider for investors planning multi-decade holdings.

How does the 230-metre MRT proximity affect demand and capital appreciation potential?

Direct MRT connectivity is one of the strongest drivers of property demand and long-term capital appreciation in Singapore's suburban markets. The 3-minute walk to Bukit Panjang Station (DT1) fundamentally enhances The Tennery's appeal to renters and owner-occupiers alike, reducing reliance on private transport and ensuring consistent demand regardless of economic cycles. Historically, properties within 300 metres of MRT stations command 10 to 15 percent premiums over non-connected properties in the same district. This proximity also insulates the property against future depreciation, as MRT-proximate locations retain value more robustly during market corrections and benefit disproportionately during appreciation cycles.

Is The Tennery suitable for first-time private property buyers upgrading from HDB?

Yes, The Tennery presents an excellent entry point for first-time private property buyers, particularly HDB upgraders seeking to transition into the private residential market. The S$1,180,000 price point remains accessible with typical HDB downpayment recycling and remains substantially below the psychological S$1.5 million barrier. The 2-bedroom configuration appeals to upgrading families, the MRT connectivity addresses commuting concerns, and the established neighbourhood offers familiar, suburban living experience without the shock of relocating to ultra-prime central areas. For first-timers, this represents a measured, prudent entry into private property investment with strong underlying fundamentals and moderate execution risk.

What monthly income is required to comfortably finance this property under TDSR rules?

At S$1,180,000 with a maximum 75 percent loan-to-value, the monthly mortgage payment falls in the region of S$4,400 to S$4,700 depending on tenure (25 to 30 years) and prevailing interest rates. Under the 60 percent TDSR threshold, qualifying buyers must demonstrate a gross household monthly income of approximately S$15,000. Dual-income households with stable professional employment typically satisfy this threshold without difficulty, whilst single-income earners in senior positions may also qualify. This financing headroom is comfortable by Singapore's private residential standards and does not impose extraordinary income requirements.

What competing developments should buyers compare The Tennery against?

Buyers evaluating The Tennery should benchmark against neighbouring developments within the Bukit Panjang and Woodlands Road corridor. Nearby competing projects include established developments with varying amenities profiles and price points, typically ranging from S$1.1 million to S$1.4 million for comparable 2-bedroom units. Some newer launches may offer enhanced facilities or higher specification finishes, but often command premiums of S$100,000 to S$300,000 without proportional value addition. The Tennery's advantage lies in its location maturity, established community, and MRT proximity at fair market pricing. Prospective buyers should also examine recent sold prices in the immediate area to validate whether competing developments justify their premium positioning.

Which unit stack or floor level typically offers the best value at The Tennery?

Within condo developments, middle floors (typically floors 5 to 15) often present the best value proposition, offering superior views and natural light compared to lower floors whilst avoiding the premium pricing commanded by penthouse units and top floors. Lower-floor units benefit from reduced lift waiting times and may appeal to families with young children, but often trade at modest discounts due to reduced privacy and view impairment. For investors prioritising rental yield, mid-level units with eastern or western exposure often achieve higher rental rates than north-facing units. Buyers should assess unit orientation, view obstruction, and morning/evening light exposure alongside floor level, as these factors significantly influence both owner satisfaction and rental demand more substantially than floor number alone.

What is the future supply pipeline in the Bukit Panjang and Woodlands Road district?

The Bukit Panjang and Woodlands Road corridor faces significant land constraints and established HDB planning overlays that restrict new private residential launches. The district is mature and largely developed, with limited greenfield sites available for substantial new condominium construction. Government planning guidelines prioritise HDB development and limited infill private projects rather than comprehensive new developments. This supply scarcity creates a structural advantage for existing properties like The Tennery, as future demand growth will outpace new supply, supporting long-term capital appreciation and rental demand stability. Buyers should view this limited supply pipeline positively, recognising that new competitive launches pose minimal threat to existing properties and that scarcity typically supports valuation strength over time.

The Tennery 2BR Condo S$1.18M Near Bukit Panjang MRT