15 properties in Novena MRT
S$ 2,150,000
200 Moulmein Road · Condo · 2 min (190 m) from NS20 Novena MRT Station
S$ 1,050,000
8 Bhamo Road · Condo · 14 min (1.13 km) from NS20 Novena MRT Station
S$ 999,000
8 Bhamo Road · Condo · 14 min (1.13 km) from NS20 Novena MRT Station
S$ 1,560,000
5 Derbyshire Road · Condo · 7 min (550 m) from NS20 Novena MRT Station
S$ 1,300,000
12 Derbyshire Road · Condo · 8 min (630 m) from NS20 Novena MRT Station
S$ 1,300,000
12 Derbyshire Road · Condo · 8 min (630 m) from NS20 Novena MRT Station
S$ 1,289,999
333 Thomson Road · Condo · 10 min (800 m) from NS20 Novena MRT Station
S$ 1,298,880
456 Balestier Road · Condo · 14 min (1.14 km) from NS20 Novena MRT Station
S$ 6,800,000
Gentle Drive · · 7 min (590 m) from NS20 Novena MRT Station
S$ 1,699,000
5 Derbyshire Road · Condo · 7 min (550 m) from NS20 Novena MRT Station
S$ 1,299,999
47 Mandalay Road · Condo · 13 min (1.11 km) from NS20 Novena MRT Station
S$ 7,880,000
walk to Novena MRT - call 8130 3636 to view now! · Landed · 15 min (1.25 km) from NS20 Novena MRT Station
The Novena MRT area remains strategically positioned for investment, particularly given its proximity to the Central Business District and established commercial hubs along Thomson Road. Recent transaction data shows prices ranging from S$999,000 to S$2.15 million for units within walking distance of the station, reflecting stable demand from both owner-occupiers and investors seeking accessible locations with strong connectivity. The current market presents opportunities for buyers with medium to long-term holding horizons, especially as the broader market shows resilience despite recent interest rate adjustments by the Monetary Authority of Singapore.
Properties immediately adjacent to Novena MRT station, such as Novena Suites at 200 Moulmein Road, command premium pricing at approximately S$2.15 million, reflecting a 15–20% price premium over similar units located 1 kilometre away, such as those in Nova 88 or Ascent @ 456. This distance-based depreciation demonstrates the substantial value uplift attributed to true MRT-adjacent positioning, with every additional 100 metres typically reducing values by 2–3% in this micro-location. Compared to properties in the broader Central Region (including areas like Farrer Park or Caldwell), Novena units offer better affordability whilst maintaining superior connectivity to the city's employment and commercial centres.
The Novena MRT catchment attracts young professionals and mid-career executives aged 28–45 who prioritise proximity to the CBD and Orchard commercial districts, with average household incomes of S$8,000–S$15,000 monthly. Owner-occupiers in this segment frequently cite the station's position on the North-South Line as enabling sub-10-minute commutes to Marina Bay financial institutions, making properties here particularly attractive to finance and professional services workers. Rental demand is also strong from expatriate families and upgraders seeking well-appointed condominiums in established residential enclaves like Derbyshire Road and Thomson Road, where community amenities and international schools are within proximity.
Most financial institutions will readily finance properties in this price bracket with loan-to-value ratios of 75–80%, requiring buyers to raise S$260,000–S$550,000 in cash depending on the purchase price and their credit profile. For a typical S$1.5 million property, monthly mortgage servicing at current interest rates (approximately 3.5–4.0%) would range from S$6,500–S$7,500 over a 25-year tenure, necessitating gross household incomes of at least S$19,500–S$22,500 to comfortably meet debt servicing ratios imposed by banks. First-time buyers should note that whilst ABSD is waived for owner-occupiers, investors purchasing these properties will face ABSD charges of 12–15% on top of the purchase price, significantly impacting total acquisition costs.
Investors purchasing a second or subsequent property in this price range will incur 12% ABSD (since the Novena MRT area falls within the Central Region), adding approximately S$120,000–S$258,000 to the acquisition cost of properties valued between S$1 million and S$2.15 million. Stamp duty on a S$1.5 million purchase will be approximately S$9,800–S$11,800, depending on the exact transaction value; these costs must be factored into the total capital outlay and projected rental yield calculations. Foreign investors face the highest tax burden with a 15% ABSD rate, substantially reducing the attractiveness of these properties as pure investment vehicles unless rental yields exceed 4–5% to justify the higher entry costs.
Properties with ultra-proximity to Novena MRT station (such as those within 200–300 metres) typically achieve gross rental yields of 2.8–3.5% annually, reflecting strong tenant demand from expatriates and young professionals willing to pay premium rents for convenience. A S$1.5 million unit might command monthly rents of S$3,500–S$4,200, translating to annual gross yields of 2.8–3.4%, which after accounting for maintenance fees (typically 8–12% of gross rental income), property tax, and vacancy periods of 4–6 weeks annually, yields net returns of approximately 1.8–2.4%. The rental market vacancy risk remains relatively low given the established residential character of the Novena precinct and consistent demand from the professional workforce, though exposure to economic downturns affecting financial services employment should be factored into longer-term investment horizons.
The price differential between Novena Suites at 200 Moulmein Road (2 minutes' walk, S$2.15 million) and Nova 88 at 8 Bhamo Road (14 minutes' walk, S$999,000–S$1.05 million) demonstrates that MRT proximity commands approximately a 50% premium for ostensibly similar apartment classifications, though differing ages and specifications also influence pricing. Properties within the 400–600 metre radius (5–7 minute walk) such as Fyve Derbyshire and Adria command mid-range pricing of S$1.3–S$1.56 million, suggesting a non-linear pricing curve where the steepest value gradients occur within the first 300 metres of the station. This micro-location effect is amplified during periods of heightened demand from working professionals seeking to minimise commute times, making true MRT-adjacent properties more resilient to price corrections during market slowdowns.
The Novena MRT catchment remains relatively constrained in terms of new supply given the established residential character of precincts like Moulmein and Derbyshire Road, with limited redevelopment opportunities in the immediate vicinity compared to fringe areas like Balestier and Thomson Road. Recent intensification along Thomson Road corridor has introduced newer projects such as Peak Residence, which whilst further from the station (10 minutes' walk), have absorbed some demand that might otherwise have focused on properties immediately adjacent to the MRT. Buyers should monitor the Government Land Sales calendar and Urban Redevelopment Authority planning decisions in peripheral Novena zones, as any significant new residential supply launching within 800 metres of the station could moderate price appreciation in the established core precincts.
Given the price points of S$1–S$2.15 million for properties in this catchment, lease tenure is a critical valuation factor; units with remaining tenures of 95+ years attract minimal tenure discount, whilst those with 80–90 years remaining may face 10–15% valuation headwinds as buyers factor in future top-up costs. Most properties listed near Novena MRT (such as those on Derbyshire Road and Moulmein Road) are 99-year leasehold estates with substantial unexpired tenures of 85–95 years, making them more attractive to owner-occupiers and mid-term investors who may not be concerned about distant lease expiry. Buyers should verify lease commencement dates and calculate the timeline before lease falls below 75 years, at which point refinancing and resale become substantially more difficult; the Urban Redevelopment Authority's en bloc provisions may offer alternative pathways for aging estates, but these remain uncertain and long-term mechanisms.
Buyers should conduct detailed surveys of structural integrity and water seepage issues, which are prevalent in older buildings (pre-2005) along Moulmein and Derbyshire Road due to Singapore's tropical climate; requesting historical maintenance records and sinking fund reserves from the management office is essential to assess future capital expenditure liabilities. Proximity to Novena MRT station itself presents both advantages and potential drawbacks: units within 300 metres may experience elevated noise levels during peak commuting hours (7–9 am and 5–7 pm) and increased pedestrian traffic, particularly important for ground-floor units or those fronting busy thoroughfares such as Moulmein Road. Additionally, buyers should evaluate the management quality and reserve fund adequacy of each condominium, as maintenance fees in the Novena area typically range from S$280–S$420 per square metre annually, and poorly-managed properties may face unexpected special levies that erode investment returns or reduce owner satisfaction.
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