ICON @ PASIR PANJANG
UrbanLens Analysis
ICON @ PASIR PANJANG trades at $1,723 PSF, sitting 6% above the District 05 median of $1,618 PSF. At 6 minutes from Haw Par Villa MRT (501m), transit access is passable but not a differentiator. ELTA fetches $2,547 PSF nearby -- that 32% gap frames ICON @ PASIR PANJANG's relative value proposition.
A 22.8% jump over two years is aggressive -- late buyers risk overpaying near a cyclical peak. Just 2 transactions in two years -- thin liquidity means pricing carries wide confidence intervals. For context, NORMANTON PARK has gained 10.3% over the same period.
Freehold tenure eliminates lease-decay risk entirely -- no CPF restrictions, no LTV erosion, no shrinking buyer pool as the asset ages. Insufficient rental data to pin down a yield figure. Buyers should assume this is a capital-growth story and do their own rental due diligence.
At just 18 units, this is an intimate development. Expect low common fees but limited resale volume -- patience is required on exit.
Nearby Comparables
| Development | Median PSF | Yield | 2Y Change |
|---|---|---|---|
| PARC CLEMATIS | $2,081 | 3.5% | +5.9% |
| ELTA | $2,547 | — | 0.0% |
| FABER RESIDENCE | $2,150 | — | 0.0% |
| BLOOMSBURY RESIDENCES | $2,504 | — | 0.0% |
| NORMANTON PARK | $2,075 | 3.7% | +10.3% |
PSF Trend
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