SPAZIO @ KOVAN
UrbanLens Analysis
SPAZIO @ KOVAN trades at $1,562 PSF, sitting 6% above the District 19 median of $1,472 PSF. At 10 minutes from Serangoon MRT (765m), transit access is passable but not a differentiator. CHUAN PARK fetches $2,596 PSF nearby -- that 40% gap frames SPAZIO @ KOVAN's relative value proposition.
A 12.7% appreciation over two years is healthy without looking frothy. 6 transactions over two years is modest; the trend is directional, not definitive. For context, AFFINITY AT SERANGOON has gained 2.6% 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 48 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 |
|---|---|---|---|
| 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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