TENET
UrbanLens Analysis
TENET trades at $1,537 PSF, sitting 13% above the District 18 median of $1,363 PSF. At 12 minutes from Pasir Ris MRT (922m), transit access is passable but not a differentiator. PARKTOWN RESIDENCE fetches $2,363 PSF nearby -- that 35% gap frames TENET's relative value proposition.
A 10.9% appreciation over two years is healthy without looking frothy. With 12 deals in two years, the pricing data has reasonable statistical weight. For context, TREASURE AT TAMPINES has gained 5.6% over the same period.
With ~94 years on a 99-year lease, financing and CPF remain fully unconstrained. Lease decay is a non-issue at this stage. Rental data is too thin to calculate a reliable yield. Treat this as a capital-appreciation play and verify rental demand independently.
At 618 units, this is a mega-development. Maintenance economies and extensive amenities are the upside; oversupply during downturns is the risk.
Nearby Comparables
| Development | Median PSF | Yield | 2Y Change |
|---|---|---|---|
| PARKTOWN RESIDENCE | $2,363 | — | 0.0% |
| AURELLE OF TAMPINES | $1,769 | — | 0.0% |
| TREASURE AT TAMPINES | $1,738 | 3.7% | +5.6% |
| THE TAPESTRY | $1,704 | 3.9% | +3.8% |
| MELVILLE PARK | $919 | 4.2% | +3.7% |
PSF Trend
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