SPACE @ KOVAN
UrbanLens Analysis
SPACE @ KOVAN commands $1,644 PSF -- 12% above what District 19 typically fetches ($1,472 PSF). Serangoon MRT is 645m away (8-min walk), functional but not a headline selling point. Against CHUAN PARK at $2,596 PSF, the 37% discount is worth examining closely.
Prices have surged 19.6% in two years. That is strong performance, though buyers entering now face elevated downside risk. With 11 deals in two years, the pricing data has reasonable statistical weight. For context, THE GARDEN RESIDENCES has gained 2.7% over the same period.
Being freehold means zero lease-decay anxiety. Full CPF eligibility, maximum LTV, and a universally bankable asset. Gross yield of 4.2% beats the OCR average of 3.4%. With $3,245/month median rent, income-focused buyers have a real case here.
At 140 units, the development is mid-sized: adequate amenities, manageable maintenance pool, and reasonable resale velocity.
Nearby Comparables
| Development | Median PSF | Yield | 2Y Change |
|---|---|---|---|
| CHUAN PARK | $2,596 | 1.3% | 0.0% |
| THE FLORENCE RESIDENCES | $1,779 | 3.4% | +0.8% |
| AFFINITY AT SERANGOON | $1,794 | 3.5% | +2.6% |
| RIVERFRONT RESIDENCES | $1,706 | 3.7% | +6.8% |
| THE GARDEN RESIDENCES | $1,829 | 3.9% | +2.7% |
PSF Trend
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