THE ALPS RESIDENCES
UrbanLens Analysis
At $1,506 PSF, THE ALPS RESIDENCES prices 10% above the District 18 median. Compare that to PARKTOWN RESIDENCE at $2,363 PSF -- a 36% premium that buyers need to justify. The 18-minute walk to Tampines West MRT (1423m) is workable, though not the kind of proximity that commands a premium on its own.
The 10.0% gain in two years signals steady demand -- solid, not speculative. 81 transactions over two years gives deep liquidity and reliable pricing signals. For context, THE TAPESTRY has gained 3.8% over the same period.
With ~88 years on a 99-year lease, financing and CPF remain fully unconstrained. Lease decay is a non-issue at this stage. At 4.2% gross yield versus the OCR average of 3.4%, rental returns are above-market. The $3,596/month median rent makes this genuinely compelling for income investors.
At 626 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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