THE MADEIRA
UrbanLens Analysis
At $1,212 PSF, THE MADEIRA prices 18% below the District 23 median. Compare that to HILLHAVEN at $2,133 PSF -- a 43% premium that buyers need to justify. Being 4 minutes on foot from Bukit Gombak MRT (296m) adds genuine convenience and supports the pricing.
The 15.9% two-year surge looks impressive, but momentum like this rarely sustains. Proceed with caution. 31 transactions over two years gives deep liquidity and reliable pricing signals. For context, LUMINA GRAND has lost 0.6% over the same period.
With ~73 years on a 99-year lease, financing and CPF remain fully unconstrained. Lease decay is a non-issue at this stage. Gross yield of 3.4% tracks the OCR average of 3.4%. At $4,220/month median rent, income is market-rate -- neither a standout nor a weakness.
With 456 units, amenities are comprehensive and resale liquidity is generally healthy, though price compression can occur when too many sellers list simultaneously.
Nearby Comparables
| Development | Median PSF | Yield | 2Y Change |
|---|---|---|---|
| HILLHAVEN | $2,133 | — | +3.3% |
| LUMINA GRAND | $1,517 | — | -0.6% |
| SOL ACRES | $1,467 | — | +7.7% |
| THE MYST | $2,071 | — | -0.4% |
| THE BOTANY AT DAIRY FARM | $2,010 | — | -2.4% |
PSF Trend
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