Bellewaters is a 651-unit Executive Condominium (EC) sitting at Anchorvale Crescent in District 19, launched by Qingjian Realty (Anchorvale) Pte Ltd in 2013 and awarded its Temporary Occupation Permit (TOP) in 2017. For buyers who missed the original ballot or are now shopping the open resale market, Bellewaters occupies a sweet spot that is increasingly rare in Singapore’s EC landscape: it cleared its five-year Minimum Occupation Period (MOP) in 2022, meaning units may be transacted freely to Singapore Citizens and Permanent Residents today, while its ten-year privatisation milestone—slated for 2027—is close enough to price in without being close enough to justify the premium commanded by already-privatised ECs. Positioned at the north-east edge of Sengkang New Town, flanked by the Farmway LRT stop and connected to Sengkang MRT (North East Line) via the Sengkang LRT loop, Bellewaters combines the value of an EC acquisition price with facilities that rival many full private condominiums. Average resale transacted prices in late 2025 to early 2026 have settled between S$1,300 psf and S$1,619 psf, with a median unit price of approximately S$1.57 million—compelling figures for a development that will shed its remaining EC ownership restrictions entirely within two years.
Snapshot as of 2026-05 — figures above reflect publicly available URA/HDB data at the time of this editorial review (as of 2026-05).
Sengkang has matured considerably since Bellewaters’s launch. The town now anchors one of the North-East Region’s most self-contained residential clusters, anchored by Compass One mall (directly above Sengkang MRT), Sengkang General Hospital, Sengkang Riverside Park, and a dense grid of hawker centres and neighbourhood retail. Anchorvale Crescent itself is part of Sengkang’s northern residential belt, a quieter sub-zone buffered by Anchorvale Community Club and large parks, yet linked into the Sengkang LRT loop that threads residents to the NEL spine in minutes.
Executive Condominiums were introduced by HDB to bridge the affordability gap between public housing and private condominiums. They are developed and managed entirely by private developers, sold at a subsidy relative to comparable private launches, and governed by a graduated ownership-opening schedule: units may only be sold to Singapore Citizens or PRs for the first five years from TOP (the MOP), and to all buyers—including foreigners—after ten years (privatisation). Bellewaters passed MOP in 2022; it will be fully privatised in 2027. This timeline materially shapes the buyer pool, pricing dynamics, and the financial calculus for anyone weighing a purchase today.
The URA’s published transaction data for District 19 shows Sengkang ECs consistently outperforming OCR private condominiums on a per-unit absolute price basis while lagging slightly on PSF—a structural feature of EC unit sizes, which skew larger. For a household that qualifies to buy a resale EC (Singapore Citizen or PR co-purchaser, no ownership of private residential property at time of application), Bellewaters represents one of the last generation of Sengkang ECs still trading at a meaningful discount to new-launch private equivalents nearby.
We track 314 sales and 61 rental transaction records for this property. Explore live charts, price trends, rental yields, and investment analytics on the BELLEWATERS dashboard.
- Average sale price: $1,500,960 across 314 transactions
- Estimated gross rental yield: 3.6%
- District 19 PSF ranking: Mid-range (top 59%)
- 99 yrs lease commencing from 2013 · OCR · D19 · 651 units
About BELLEWATERS
BELLEWATERS is a 99 yrs lease commencing from 2013 condominium, located at ANCHORVALE CRESCENT in District 19 (Punggol, Hougang, Serangoon Gardens) (Outside Central Region), developed by QINGJIAN REALTY (ANCHORVALE) PTE LTD, comprising 651 residential units, completed in 2017.
With approximately 86 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 BELLEWATERS:
| Type | Sales | Avg PSF | Avg Price |
|---|---|---|---|
| 2 BR | 28 | $1,316 psf | $1,218,103 |
| 3 BR | 249 | $1,294 psf | $1,482,956 |
| 4 BR | 37 | $1,226 psf | $1,836,182 |
Sales Market Overview
BELLEWATERS has recorded 314 sale transactions with an average transaction price of $1,500,960, ranging from $950,000 to $2,300,000.
| Year | Sales | Avg PSF | Avg Price | YoY |
|---|---|---|---|---|
| 2021 | 8 | $1,036 psf | $1,199,750 | — |
| 2022 | 144 | $1,189 psf | $1,384,459 | ↑ 14.7% |
| 2023 | 62 | $1,305 psf | $1,543,267 | ↑ 9.8% |
| 2024 | 43 | $1,378 psf | $1,621,880 | ↑ 5.6% |
| 2025 | 48 | $1,477 psf | $1,693,123 | ↑ 7.2% |
| 2026 | 9 | $1,543 psf | $1,738,697 | ↑ 4.5% |
BELLEWATERS ranks in the top 59% of condos in District 19 by average PSF.
Compared to the OCR average of $1,550 psf, BELLEWATERS trades 16.9% below the segment benchmark.
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Rental Market Overview
BELLEWATERS has recorded 61 rental transactions with monthly rents averaging $4,480/mo.
| Type | Leases | Avg Rent | Min | Max |
|---|---|---|---|---|
| 3 BR | 40 | $4,254/mo | $3,500/mo | $5,800/mo |
| 4 BR | 21 | $4,910/mo | $3,800/mo | $5,800/mo |
| Year | Leases | Avg Rent |
|---|---|---|
| 2021 | 1 | $3,500/mo |
| 2022 | 7 | $4,300/mo |
| 2023 | 9 | $4,767/mo |
| 2024 | 23 | $4,598/mo |
| 2025 | 16 | $4,303/mo |
| 2026 | 5 | $4,430/mo |
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Investment Analysis
Based on average rents and sale prices, BELLEWATERS delivers an estimated gross rental yield of 3.6%. This is above the Singapore-wide benchmark of approximately 3%.
Competing Condos in District 19
Side-by-side comparison against the most actively traded condos in District 19 (Punggol, Hougang, Serangoon Gardens):
| Condo | Tenure | Units | Avg PSF | Sales |
|---|---|---|---|---|
| CHUAN PARK | 99 yrs lease commencing from 2024 | 916 | $2,596 psf | 860 |
| THE FLORENCE RESIDENCES | 99 yrs lease commencing from 2018 | 1410 | $1,746 psf | 844 |
| RIVERFRONT RESIDENCES | 99 yrs lease commencing from 2018 | 1451 | $1,589 psf | 622 |
| AFFINITY AT SERANGOON | 99 yrs lease commencing from 2018 | 1012 | $1,699 psf | 596 |
| SERANGOON GARDEN ESTATE | Freehold | — | $1,735 psf | 462 |
Location Map
Map shows BELLEWATERS (centre marker) with nearby MRT stations and schools. Drag to pan, scroll to zoom.
- BELLEWATERS
- Farmway MRT
- Cheng Lim MRT
- Soo Teck MRT
- Sengkang MRT
- Sengkang MRT
- Compassvale Secondary School
- Sengkang Green Primary School
- Anchor Green Primary School
Nearby MRT Stations
BELLEWATERS is 340m from Farmway MRT (Sengkang LRT), with 13 stations within 1.5 km.
Nearby Schools
There are 19 schools within 2 km of BELLEWATERS, including 3 within the 1 km priority zone.
| School | Type | Distance |
|---|---|---|
| Compassvale Secondary School | Secondary | 800m |
| Sengkang Green Primary School | Primary | 910m |
| Anchor Green Primary School | Primary | 1.0 km |
| Greendale Primary School | Primary | 1.1 km |
| Greendale Secondary School | Secondary | 1.1 km |
| Compassvale Primary School | Primary | 1.1 km |
| Sengkang Secondary School | Secondary | 1.2 km |
| Seng Kang Primary School | Primary | 1.2 km |
| Chongfu School | Primary | 1.2 km |
| North Spring Primary School | Primary | 1.3 km |
| Punggol Green Primary School | Primary | 1.5 km |
| Nan Chiau Primary School | Primary | 1.6 km |
Connectivity: Farmway LRT is approximately a four-to-five minute walk from the development, feeding into Sengkang MRT station on the North East Line. The NEL connects directly to Dhoby Ghaut (interchange with CCL and NSL), HarbourFront, and Punggol, making the city centre reachable in under 30 minutes without a transfer. For drivers, the Tampines Expressway (TPE) and Kallang-Paya Lebar Expressway (KPE) are accessible via Sengkang West Road, providing arterial access to the CBD, Changi Airport, and the Jurong employment corridor.
Facilities: Bellewaters’s facility deck was designed to full private-condo standards: a 50-metre freeform lap pool, wading pool, splash pool, family pool, Jacuzzi, and hydro spa cluster form the aquatics spine, complemented by a fully-equipped indoor gym, function room, tennis court, BBQ pavilions, children’s playground, and garden trail. For a household stepping up from an HDB flat, the lifestyle upgrade is tangible and immediate.
Schools within 1 km: Nan Chiau Primary School and Punggol Green Primary School both fall within the 1-kilometre priority registration radius, a significant advantage for young families balloting for primary school places in the P1 registration exercise. Pei Hwa Secondary School and Nan Chiau High School round out the secondary options within a short commute.
Privatisation optionality: With full privatisation expected in 2027, buyers purchasing today at current resale prices are acquiring a unit that will become eligible for purchase by foreign nationals in roughly 12 to 18 months from the time of this writing. Historically, privatisation has correlated with a moderate pricing uplift as the effective buyer pool expands and the EC stigma fully dissipates. No guarantees exist, but the structural tailwind is real and computable using tools such as our ROI Calculator.
Qingjian Realty brand: Qingjian is one of Singapore’s most prolific EC developers, known for quality finishes and thoughtful spatial planning. Bellewaters’s unit layouts—spanning 2-bedroom to 5-bedroom configurations—are widely praised by residents for generous bedroom dimensions and functional kitchen-living separations, attributes that support strong rental demand from professionals and mid-sized families in the Sengkang catchment.
Pre-privatisation buyer pool restriction: Until 2027, resale units at Bellewaters can only be sold to Singapore Citizens and Permanent Residents. This excludes the entire foreign-national buyer segment, compressing the effective buyer pool and limiting near-term upside on speculative flips. Buyers with a shorter intended holding horizon should model exit scenarios carefully using our Cash Flow Calculator to stress-test liquidity assumptions before 2027.
Leasehold decay: Bellewaters holds a 99-year lease commencing 2013, leaving approximately 86 years of lease as of 2026. While this remains well above the 60-year threshold below which CPF usage and bank financing become constrained, the clock is running. Buyers financing with CPF funds should be mindful that as the remaining lease dips closer to 60 years (circa 2073), withdrawals for the property will be restricted. Use our Lease Decay Calculator to model the impact on long-term asset value and CPF utilisation.
Competition from new EC launches: North-East Singapore continues to attract new EC launches—developments in Tengah, Tampines, and the Punggol Digital District offer newer leases and fresh government grants to first-time buyers. These absorb some demand that might otherwise flow to mature ECs such as Bellewaters. Resale premiums relative to new launches must be validated against the current Property Comparison tool before committing.
Resale levy for second-timers: Singapore households that previously received an HDB housing subsidy—whether from a built-to-order flat, DBSS unit, or new-launch EC—are subject to a resale levy of S$15,000 to S$55,000 when purchasing a new-launch EC. This levy does not apply to the purchase of a resale EC unit that has cleared its MOP, making Bellewaters attractive for second-timer upgraders. However, buyers should verify their subsidy history with HDB directly, as rules and individual circumstances vary.
[
{
"persona": "HDB Upgrader (Citizen couple, mid-30s)",
"fit_color": "green",
"reason": "Bellewaters is a textbook upgrader play: larger units, full condo facilities, and a price point meaningfully below comparable private condominiums in D19. The MOP is cleared so resale levy headaches for new-launch ECs are avoided. Proximity to Nan Chiau Primary within 1 km is a strong pull for families eyeing P1 registration."
},
{
"persona": "First-time buyer (Citizen-PR couple, early 30s)",
"fit_color": "green",
"reason": "EC resale eligibility requires at least one Singapore Citizen co-applicant and a PR or Citizen partner. This couple qualifies and benefits from the EC price discount relative to private launches. No income ceiling applies on the resale market, giving higher-earning households a clean path in."
},
{
"persona": "Investment buyer targeting privatisation uplift",
"fit_color": "green",
"reason": "The 2027 privatisation widens the buyer pool to foreigners, historically a catalyst for pricing uplift. An investor who can hold through 2027 and beyond captures both rental yield (proximity to Sengkang MRT and hospital supports stable rental demand) and the structural re-rating. Model returns with the <a href=\"/calculator/roi\">ROI Calculator</a>."
},
{
"persona": "Foreigner or non-resident buyer",
"fit_color": "red",
"reason": "Foreigners cannot purchase Bellewaters units until full privatisation in 2027. Until then, this EC is legally restricted to Singapore Citizens and Permanent Residents on the resale market. Foreign buyers should revisit after 2027 or consider fully privatised alternatives in D19."
},
{
"persona": "En-bloc speculation buyer",
"fit_color": "yellow",
"reason": "At 651 units on a 99-year lease from 2013, a collective sale is theoretically possible but highly unlikely in the near term: the lease is too new, unit prices have risen significantly from original launch, and owners would need 80% consensus. En-bloc potential is negligible as a primary investment thesis before 2035 at the earliest."
},
{
"persona": "Retiree or empty-nester downsizing",
"fit_color": "yellow",
"reason": "Bellewaters is family-sized stock with 3-to-5-bedroom units dominating the mix. Single seniors or couples wanting to downsize may find the unit sizes and quantum oversized relative to need. Better suited to buyers who want space, recreational facilities, and healthcare proximity (Sengkang General Hospital nearby) without sacrificing lifestyle."
}
]
Bellewaters earns a measured Buy for the right buyer profile verdict. Its combination of post-MOP freedom, imminent privatisation, quality Qingjian build, established Sengkang amenities, and resale PSF that remains below comparable private launches in D19 creates a coherent value proposition for Singapore Citizens and PRs who qualify. The privatisation catalyst in 2027 is the single most important near-term price driver to monitor: if the historical pattern of EC privatisation uplifts holds, purchasers today are acquiring optionality at a reasonable price. The risks are real—leasehold decay, pre-privatisation buyer pool restrictions, and macro rate sensitivity on mortgage servicing costs—but they are transparent and manageable for informed buyers with a four-to-seven year horizon. Run your financing scenario through our Mortgage Calculator, model lease-adjusted resale value with the Lease Decay Calculator, and stress-test rental yield assumptions using the Cash Flow Calculator before committing to a quantum in the S$1.4 million–S$1.6 million range.
FAQ
What is the average price for BELLEWATERS?
What is the rental yield for BELLEWATERS?
Is BELLEWATERS freehold or leasehold?
Can foreigners buy Bellewaters EC units today?
No. Bellewaters EC units may only be sold to Singapore Citizens or Permanent Residents on the resale market until the development’s tenth anniversary from TOP, which falls in 2027. After full privatisation in 2027, the development transitions to private condominium status and units may be sold to foreigners subject to the prevailing Additional Buyer’s Stamp Duty (ABSD) rates. Foreign buyers interested in Bellewaters should wait until after 2027 or consider fully privatised alternatives in District 19.
What is the Minimum Occupation Period and has Bellewaters passed it?
The Minimum Occupation Period (MOP) is the mandatory holding period during which an EC owner cannot sell or sublet the entire unit. For Executive Condominiums, the MOP is five years calculated from the date of TOP. Bellewaters received its TOP in 2017, so its MOP expired in 2022. All existing owners who moved in at TOP have therefore fulfilled their MOP and may sell their units on the open market to Singapore Citizens and Permanent Residents without restriction. Subletting the entire unit is also now permitted.
Do I need to pay a resale levy to buy Bellewaters on the open market?
No resale levy is payable when purchasing a resale EC unit that has cleared its MOP—and Bellewaters cleared its MOP in 2022. The resale levy obligation applies only when a second-timer household purchases a new-launch EC from a developer, not when buying a resale EC on the open market. However, if you currently own an HDB flat or another subsidised property, you are required to dispose of it within six months of taking possession of the EC unit. Verify your personal subsidy history with HDB, as individual circumstances differ.
What are the nearest transport options to Bellewaters?
Farmway LRT station on the Sengkang LRT network is approximately a four-to-five minute walk from Bellewaters. The LRT loop connects to Sengkang MRT on the North East Line (NEL), placing Dhoby Ghaut interchange within roughly 20–25 minutes and HarbourFront within 30 minutes. For drivers, the Tampines Expressway (TPE) is accessible via Sengkang West Road, with Changi Airport reachable in approximately 20 minutes under normal traffic conditions. Several bus services also operate along Anchorvale Road, providing surface links to Compass One and the Sengkang Bus Interchange.
What will happen to Bellewaters after 2027 privatisation?
When Bellewaters reaches ten years from TOP in 2027, it will be fully privatised and reclassified as a private condominium. At that point: (1) units may be sold to foreign nationals (subject to prevailing ABSD), (2) all remaining EC-specific ownership restrictions are lifted, and (3) the management corporation strata title (MCST) operates under standard private-condo governance. Privatisation typically broadens the buyer pool, which has historically supported pricing in EC developments that undergo the transition. CPF usage and bank-loan rules revert to standard private-property parameters after privatisation.
What unit types and sizes are available at Bellewaters?
Bellewaters offers configurations spanning 2-bedroom, 3-bedroom, 4-bedroom, and 5-bedroom layouts across its 651 units. Unit sizes typically range from around 700 square feet for a compact 2-bedroom to over 1,600 square feet for a 5-bedroom penthouse or premium unit. The development is predominantly 3-bedroom and 4-bedroom stock, reflecting its family-oriented EC brief. Buyers should request the most current unit-availability list from a licensed property agent, as the secondary market inventory changes frequently. Use our Property Comparison tool to benchmark available units against comparable D19 developments.
Methodology & Sources
This analysis covers All available years and refreshes as new data becomes available.
Transaction data sourced from URA REALIS.
- Sales data: 314 transactions analysed
- Rental data: 61 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 BELLEWATERS
Access the full interactive dashboard with real-time sales trends, rental yields, and investment calculators.