D5 (Clementi/Pasir Panjang) delivers gross rental yields of 3.5–4.5%, beating most OCR districts on risk-adjusted basis. Deep NUS/one-north tenant pool, sub-$1,600 psf mid-tier options, and incoming CRL2 Clementi interchange in 2032 make this one of Singapore's most resilient yield corridors for 2025–2026.
Clementi New Town and Pasir Panjang sit at a rare intersection of demand drivers most yield investors overlook. NUS enrolls 40,000+ students/staff who rent privately within cycling distance of Kent Ridge. one-north precinct (Biopolis, Fusionopolis, Singapore Science Park) houses tens of thousands of biomedical/tech/research professionals, many on 2-4 year employment passes preferring private over HDB. Structural recurring demand = short vacancy + common lease renewals.
D5 mid-tier $1,465–$1,816 psf range allows rents to generate genuine surplus after mortgage servicing. CRL2 Clementi interchange further positions district as long-duration hold.
LTA confirmed CRL2 includes Clementi station as EWL interchange, targeted ~2032 per LTA. For D5 investors: 6-7 year runway to accumulate at pre-interchange pricing.
Greater Southern Waterfront (GSW) masterplan will eventually transform Pasir Panjang terminal area into mixed-use district stretching Keppel-Tanjong Pagar — generational project lifting entire southern arc of D5, per URA. Both catalysts favour patient landlords over short-term traders.
Rental yield is the rawest measure of cash-flow-to-capital efficiency in any condo purchase. In Singapore, gross yields typically range from 2.5% in the CCR to 4.5% in the OCR, with mass-market one-bedders often at the top of that band. This article ranks condos by recent rental and sales data to surface the highest-yielding options in the selected district — but remember that yield alone does not tell the whole story: liquidity, tenure, and capital appreciation matter too.
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District 5 (Pasir Panjang, Hong Leong Garden, Clementi New Town) is in Singapore's Rest of Central Region. We ranked all condos in this district by gross rental yield using the latest 24 months of sales data and 12 months of rental data to find the best income-generating properties.
Top Rental Yield Condos in District 5
| Condo | Avg PSF | Avg Price | Avg Rent | Gross Yield | Tenure |
|---|---|---|---|---|---|
| ICON @ PASIR PANJANG | $1,723 psf | $874,000 | $3,936/mo | 5.4% | Freehold |
| VIVA VISTA | $1,698 psf | $801,222 | $3,010/mo | 4.5% | Freehold |
| THE FOLIAGE | $1,629 psf | $1,272,500 | $4,456/mo | 4.2% | Freehold |
| MENDON SPRING | $1,292 psf | $1,368,000 | $4,696/mo | 4.1% | Freehold |
| WEST BAY CONDOMINIUM | $1,188 psf | $1,306,940 | $4,370/mo | 4.0% | 99 yrs lease commencing from 1991 |
| PARC IMPERIAL | $1,764 psf | $903,016 | $3,018/mo | 4.0% | Freehold |
| SEAHILL | $1,601 psf | $1,175,685 | $3,826/mo | 3.9% | 99 yrs lease commencing from 2011 |
| WESTCOVE CONDOMINIUM | $1,144 psf | $1,428,869 | $4,630/mo | 3.9% | 99 yrs lease commencing from 1995 |
| BLUE HORIZON | $1,420 psf | $1,581,093 | $5,080/mo | 3.9% | 99 yrs lease commencing from 2000 |
| HARBOUR VIEW GARDENS | $1,881 psf | $1,274,250 | $4,070/mo | 3.8% | Freehold |
| PARC RIVIERA | $1,684 psf | $1,308,680 | $4,079/mo | 3.7% | 99 yrs lease commencing from 2015 |
| WHITEHAVEN | $1,553 psf | $1,419,909 | $4,413/mo | 3.7% | Freehold |
| BIJOU | $2,043 psf | $1,205,347 | $3,726/mo | 3.7% | Freehold |
| HERITAGE VIEW | $1,614 psf | $1,866,831 | $5,728/mo | 3.7% | 99 yrs lease commencing from 1996 |
| DOVER PARKVIEW | $1,430 psf | $1,458,995 | $4,390/mo | 3.6% | 99 yrs lease commencing from 1993 |
Investment Considerations
- Gross vs net yield: Deduct maintenance fees (~$300–$800/mo), property tax, and agent commission (1 month) for a realistic net yield.
- Tenant demand: Higher yields often come from smaller units near MRT stations or business hubs — check vacancy rates.
- Capital appreciation: High-yield condos may have lower capital growth; balance yield with appreciation potential.
- Use the ROI Calculator to model your total return including leverage.
- Compare across districts with the District Comparison Tool.
D5 project yield benchmarks (URA REALIS Q1 2026, indicative monthly rent for 2BR/3BR):
| Project | Tenure | Est. PSF | 2BR Rent | Gross Yield | Note |
|---|---|---|---|---|---|
| Waterfront @ Faber | 99-yr | $1,465 | $3,200–$3,800 | ~4.2–4.5% | Hong Leong Garden; mature resale liquidity |
| Parc Riviera | 99-yr | $1,545 | $3,400–$4,000 | ~3.9–4.3% | West Coast; NUS/one-north draw |
| Whistler Grand | 99-yr | $1,628 | $3,500–$4,200 | ~3.7–4.1% | Near Clementi MRT; family-sized 2BR |
| Clavon | 99-yr | $1,668 | $3,600–$4,300 | ~3.6–4.0% | Clementi Ave 1; strong renewal rate |
| Normanton Park | 99-yr | $1,816 | $4,000–$4,800 | ~3.5–3.8% | 1,862-unit scale; sub-letting market |
| Terra Hill | Freehold | $2,522 | $5,200–$6,200 | ~3.3–3.6% | TOP 2026; freehold premium |
| Bloomsbury Residences | 99-yr | $2,501 | — | ~3.2–3.5%E | New launch 2026; one-north adjacent |
Waterfront @ Faber and Parc Riviera = yield sweet spot. Normanton Park 1,862-unit scale ensures exit liquidity. Terra Hill freehold offsets lower yield mathematically over 20-year hold via zero depreciation drag.
- Screen by net yield not gross. Annual sinking fund, property tax, agent commission amortised → net 0.5-0.8pp below gross.
- Prioritise 2BR units $700K-$900K. Deepest NUS/one-north tenant pool.
- Check remaining lease before committing. <65 years = CPF restrictions, HDB upgrader ineligibility. Parc Riviera (TOP 2018) and Clavon (TOP 2022) ample headroom.
- Model CRL2 optionality conservatively. Treat 2032 interchange as upside, not base case.
- Freehold buyers: compare Terra Hill vs Murano. Run 15-year IRR under conservative 2% annual rent growth.
Methodology & Sources
This analysis covers full-year 2026 data and refreshes one-time.
Transaction data sourced from URA REALIS.
- Sales data: URA REALIS (past 24 months, min 2 transactions per condo)
- Rental data: URA REALIS (past 12 months, min 2 leases per condo)
- Gross yield = (avg monthly rent × 12) / avg transaction price × 100
Median values used to minimise outlier impact. PSF = price per square foot.
Frequently Asked Questions
What is a good gross rental yield in Singapore?
Why does yield matter more than capital gain?
Should I buy freehold or leasehold for rental yield?
Is D5 considered RCR or OCR?
RCR. D5 rents track closer to CCR/RCR than to mass-market OCR.
What makes one-north tenants more stable?
Multi-year employment passes tied to research contracts. Tenants renew rather than relocate. Higher disposable income relative to rent. Prefer private condos within 15-20 minutes of workplace.
How does CRL2 Clementi interchange affect demand before 2032?
Direct: little before opening. Indirect: 2028-2031 anticipatory buying tightens supply, push rents modestly upward.
Are Elta and Bloomsbury worth buying for yield now?
At $2,500+ psf, gross yield 3.2-3.5%. New launches carry 1-3 year wait for TOP, zero rental income while servicing progressive payment. Better for capital appreciation than day-one yield.
What ABSD/financing rules for 2nd property in D5?
SC 2nd 20% ABSD; PR 1st 5%, 2nd 30%; Foreigner 60%. Second property LTV 45%, min 25% cash. Factor into cash-on-cash return.
Best entry projects for yield?
Waterfront @ Faber and Parc Riviera at $1,465-$1,545 psf for yield 4%+. Whistler Grand and Clavon at $1,628-$1,668 psf still 3.6-4.1%.
What tenant types dominate D5?
NUS staff/grad students (12-24 month leases), one-north biotech professionals (2-4 year leases on housing allowances), school families.