VARSITY PARK CONDOMINIUM
UrbanLens Analysis
VARSITY PARK CONDOMINIUM trades at $1,504 PSF, sitting 7% below the District 05 median of $1,618 PSF. At 23 minutes from Kent Ridge MRT (1841m), transit access is passable but not a differentiator. ELTA fetches $2,547 PSF nearby -- that 41% gap frames VARSITY PARK CONDOMINIUM's relative value proposition.
A 10.7% appreciation over two years is healthy without looking frothy. 32 transactions over two years gives deep liquidity and reliable pricing signals. For context, PARC CLEMATIS has gained 5.9% over the same period.
With ~77 years on a 99-year lease, financing and CPF remain fully unconstrained. Lease decay is a non-issue at this stage. Gross yield of 3.3% tracks the OCR average of 3.4%. At $6,379/month median rent, income is market-rate -- neither a standout nor a weakness.
At 530 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 |
|---|---|---|---|
| PARC CLEMATIS | $2,081 | 3.5% | +5.9% |
| ELTA | $2,547 | — | 0.0% |
| FABER RESIDENCE | $2,150 | — | 0.0% |
| BLOOMSBURY RESIDENCES | $2,504 | — | 0.0% |
| NORMANTON PARK | $2,075 | 3.7% | +10.3% |
PSF Trend
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