38 I SUITES is a 87-year balance leasehold development along IPOH LANE in District 15 (Katong / Joo Chiat), part of the RCR segment of Singapore's private residential market. The project comprises 120 units and is TOP 2014.
This profile draws on 45 recorded transactions from URA to frame the project's character: who actually lives here, who buys here, and where the pricing sits relative to immediate alternatives. For the broader district context, see the Singapore price-heatmap map.
At roughly 12 years from TOP, 38 I SUITES is in mature-resale territory: a clear track record on capital appreciation, defined renovation and refurbishment cycles, and lease-decay considerations starting to enter the picture (if leasehold).
Within District 15 (Katong / Joo Chiat), the immediate context for 38 I SUITES is shaped by the broader URA Master Plan zoning for the area, ongoing or planned infrastructure (MRT extensions, expressway changes, school relocations), and the supply pipeline of nearby launches. See the URA Master Plan 2019 for the precinct-specific land-use overlay before underwriting medium-term capital appreciation.
We track 45 sales and 285 rental transaction records for this property. Explore live charts, price trends, rental yields, and investment analytics on the 38 I SUITES dashboard.
- Average sale price: $1,015,684 across 45 transactions
- Estimated gross rental yield: 3.3%
- District 15 PSF ranking: Above average (top 44%)
- · RCR · D15 · 120 units
About 38 I SUITES
38 I SUITES is a condominium, located at IPOH LANE in District 15 (Joo Chiat, Amber Road, Katong) (Rest of Central Region), developed by SUSTAINED LAND PTE LTD, comprising 120 residential units, completed in 2014.
With approximately 87 years remaining on its 99-year lease, the property qualifies for full bank financing and CPF usage.
Unit Mix Distribution
Transaction data breakdown by bedroom type at 38 I SUITES:
| Type | Sales | Avg PSF | Avg Price |
|---|---|---|---|
| Studio | 11 | $1,691 psf | $795,455 |
| 1 BR | 26 | $1,684 psf | $1,029,534 |
| 3 BR | 6 | $1,091 psf | $1,219,648 |
| 4 BR | 2 | $1,058 psf | $1,435,000 |
Sales Market Overview
38 I SUITES has recorded 45 sale transactions with an average transaction price of $1,015,684, ranging from $720,000 to $1,450,000.
| Year | Sales | Avg PSF | Avg Price | YoY |
|---|---|---|---|---|
| 2021 | 17 | $1,394 psf | $1,051,993 | — |
| 2022 | 8 | $1,693 psf | $908,750 | ↑ 21.5% |
| 2023 | 5 | $1,746 psf | $1,041,000 | ↑ 3.1% |
| 2024 | 9 | $1,689 psf | $1,025,765 | ↓ 3.2% |
| 2025 | 5 | $1,628 psf | $1,063,000 | ↓ 3.6% |
| 2026 | 1 | $1,728 psf | $800,000 | ↑ 6.2% |
38 I SUITES ranks in the top 44% of condos in District 15 by average PSF.
Compared to the RCR average of $2,049 psf, 38 I SUITES trades 23% below the segment benchmark.
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Rental Market Overview
38 I SUITES has recorded 285 rental transactions with monthly rents averaging $2,771/mo.
| Type | Leases | Avg Rent | Min | Max |
|---|---|---|---|---|
| 1 BR | 116 | $2,632/mo | $1,800/mo | $4,000/mo |
| 2 BR | 169 | $2,867/mo | $1,800/mo | $4,800/mo |
| Year | Leases | Avg Rent |
|---|---|---|
| 2021 | 58 | $2,230/mo |
| 2022 | 63 | $2,637/mo |
| 2023 | 44 | $3,091/mo |
| 2024 | 60 | $2,973/mo |
| 2025 | 42 | $3,042/mo |
| 2026 | 18 | $2,900/mo |
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Investment Analysis
Based on average rents and sale prices, 38 I SUITES delivers an estimated gross rental yield of 3.3%. This is above the Singapore-wide benchmark of approximately 3%.
Competing Condos in District 15
Side-by-side comparison against the most actively traded condos in District 15 (Joo Chiat, Amber Road, Katong):
| Condo | Tenure | Units | Avg PSF | Sales |
|---|---|---|---|---|
| GRAND DUNMAN | 99 yrs lease commencing from 2022 | 1008 | $2,536 psf | 911 |
| EMERALD OF KATONG | 99 yrs lease commencing from 2023 | 846 | $2,640 psf | 844 |
| THE CONTINUUM | Freehold | 816 | $2,790 psf | 766 |
| TEMBUSU GRAND | 99 yrs lease commencing from 2022 | 638 | $2,466 psf | 641 |
| AMBER PARK | Freehold | 592 | $2,546 psf | 394 |
Location Map
Map shows 38 I SUITES (centre marker) with nearby MRT stations and schools. Drag to pan, scroll to zoom.
- 38 I SUITES
- Paya Lebar MRT
- Paya Lebar MRT
- Tanjong Katong MRT
- Dakota MRT
- Eunos MRT
- Haig Girls'
- Tao Nan School
- Broadrick Secondary School
Nearby MRT Stations
38 I SUITES is 740m from Paya Lebar MRT (East-West Line), with 6 stations within 1.5 km.
| Station | Code | Line | Distance |
|---|---|---|---|
| Paya Lebar | EW8 | East-West Line | 740m |
| Paya Lebar | CC9 | Circle Line | 740m |
| Tanjong Katong | TE25 | Thomson-East Coast Line | 880m |
| Dakota | CC8 | Circle Line | 930m |
| Eunos | EW7 | East-West Line | 1.2 km |
| Marine Parade | TE26 | Thomson-East Coast Line | 1.5 km |
Nearby Schools
There are 15 schools within 2 km of 38 I SUITES, including 11 within the 1 km priority zone.
| School | Type | Distance |
|---|---|---|
| Haig Girls' School | Primary | 170m |
| Tao Nan School | Primary | 550m |
| Broadrick Secondary School | Secondary | 570m |
| EtonHouse International School (Broadrick) | International | 570m |
| Tanjong Katong Primary School | Primary | 590m |
| Tanjong Katong Girls' School | Secondary | 600m |
| Canadian International School (Tanjong Katong) | International | 670m |
| Kong Hwa School | Primary | 760m |
| Canossa Catholic Primary School | Primary | 850m |
| CHIJ (Katong) Primary | Primary | 880m |
| Geylang Methodist School (Secondary) | Secondary | 960m |
| Geylang Methodist School (Primary) | Primary | 1.2 km |
Adequate lease horizon. Around 87 years of remaining lease keeps CPF eligibility intact and supports standard 30-year loan tenor for most buyer profiles. Within a 5-10 year hold, lease-decay effects are negligible; beyond that, monitor the year-60 threshold for CPF usage caps.
Walking-distance MRT. Paya Lebar is about 0.74km — within the conventional 10-minute walk threshold most tenants accept. The project benefits from the public-transport premium without the price compression that <500m flagship stations command.
School-belt proximity. Haig Girls' School sits about 0.17km away, with additional schools clustered nearby. Family households on 24-month tenancies anchor the rental pool, which materially improves vacancy economics for landlord-owners.
District supply pipeline. Non-prime districts are more sensitive to GLS pipeline additions; check the URA Master Plan 2019 confirmed and provisional land sales schedule for the immediate 5-year window. New launches at 10-20% lower PSF can compress secondary-market resale velocity for 18-24 months around their launch dates.
Cycle-sensitivity. Like all Singapore private residential, the project's capital appreciation and rental yields move with broader macro factors — mortgage rate environment, MAS macroprudential stance (TDSR, ABSD), and the supply-pipeline tempo. Build a 5pp rate buffer into your stress test.
- ✅ Young couple, first home: Long balance lease + likely sub-CCR pricing
- ✅ Family with school-age kids: Nearby schools support MOE registration priority
- ✅ CBD commuter: Walking-distance MRT supports daily commute
- ❌ Rental investor (yield-focused): Thin transaction history makes underwriting fragile
- ⚠️ Foreign professional (expat): MRT plus mid-size facility suite typically meets expat-tenant criteria
- ✅ Long-term hold (10+ yr): Tenure supports CPF + buyer-pool through hold
Composite assessment: 38 I SUITES hits the three structural levers that anchor long-term Singapore residential value: a prime district position, walkable MRT, and a long balance lease. Premium pricing is the trade-off; buyers paying that premium are buying scarcity rather than yield. 45 transactions in URA provide the data foundation for this view.
Suggested holding period for most buyer profiles: 8-15 years to absorb full cycle and capture the prime-district capital-appreciation thesis. Cross-reference per-bedroom net yield against district comparables via the compare-tool, model monthly cash-flow with the mortgage calculator, and confirm your effective BSD+ABSD cost using the stamp-duty calculator before finalising. This profile is informational; not a personal investment recommendation.
FAQ
What is the average price for 38 I SUITES?
What is the rental yield for 38 I SUITES?
Is 38 I SUITES freehold or leasehold?
Methodology & Sources
This analysis covers All available years and refreshes as new data becomes available.
Transaction data sourced from URA.
- Sales data: 45 transactions analysed
- Rental data: 285 lease records analysed
- Gross yield = (avg monthly rent × 12) / avg sale price
Median values used to minimise outlier impact. PSF = price per square foot.
View Live Data for 38 I SUITES
Access the full interactive dashboard with real-time sales trends, rental yields, and investment calculators.
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New Sale vs Resale Mix
Of the 1,640 condo transactions recorded in District 15 over the last 12 months, 64% resale, 34% new sale, 2% sub sale. A resale-heavy mix points to an established market trading on fundamentals; a new-sale-heavy mix means developer launches are setting the price benchmarks.
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Price Index Check
The ShiokNest Price Index for District 15 reads 117.7 as of June 2026 — down 9.0% year-on-year. The index tracks repeat-sales price movement, so it is less distorted by shifts in what happens to be transacting than a raw average PSF.
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Upcoming Supply Pipeline
1 active Government Land Sales site in District 15 could add roughly 500 new units to local supply. Incoming supply of this scale tends to cap short-term price growth in the immediate area but also signals planning confidence in the location.
| Site | Street | Est. units | List | Status |
|---|---|---|---|---|
| Jalan Tembusu | — | ~500 | Confirmed | Awarded |
HDB Alternatives Nearby
Weighing 38 I SUITES against staying public? These HDB towns sit within walking or short-drive distance:
- Geylang — 4-room average $761,443 (100m away), an upgrader gap of about $250,000
- Marine Parade — 4-room average $648,065 (1.5 km away), an upgrader gap of about $350,000
- Kallang/whampoa — 4-room average $882,887 (1.7 km away), an upgrader gap of about $150,000