Belysa is a fully privatised Executive Condominium (EC) perched at the corner of Elias Road and Pasir Ris Drive 1 in District 18. Launched in 2011 under the NTUC ChoiceHomes banner and awarded its Temporary Occupation Permit (TOP) in 2014, it comprises three residential towers holding 315 units on a 99-year leasehold tenure that runs until approximately 2110. Having crossed both the five-year Minimum Occupation Period (MOP) in 2019 and the ten-year full-privatisation threshold in 2024, Belysa now trades as an open-market condominium: any buyer — including foreigners and corporate entities — may purchase a resale unit without the eligibility restrictions that govern new EC sales. That milestone has meaningfully widened the pool of potential buyers, a structural tailwind that has supported steady price appreciation. As at late 2025, resale transactions at Belysa printed between S$1,304 and S$1,517 per square foot (psf), with an annual average of S$1,408 psf, placing it comfortably within the affordable-to-mid segment of the Outside Central Region (OCR) private condominium market. For Singapore upgraders seeking a spacious, well-connected home with condominium facilities at a price point well below comparable new launches, Belysa merits serious consideration — provided the buyer understands the EC life-cycle dynamics and the trade-offs inherent in a 15-year-old leasehold asset.
Snapshot as of 2026-05 — figures above reflect publicly available URA/HDB data at the time of this editorial review (as of 2026-05).
Pasir Ris occupies the north-eastern corner of Singapore’s main island, bounded by Tampines to the west, Punggol to the north, and the coastline of Pasir Ris Town Park to the east. Historically perceived as a “sleepy town” dominated by HDB upgraders, the neighbourhood has undergone a pronounced transformation over the past decade. The opening of the Tampines North MRT station on the Cross Island Line (CRL), together with the future Pasir Ris MRT interchange upgrade connecting the East-West Line to the CRL, has repositioned the area as a multi-modal transit node. Coastal Cabana, a new EC launched in early 2026 and sold 66.5% of its 748 units over its launch weekend, signals that demand for EC living in Pasir Ris remains robust. This sustained interest in ECs in the area provides a useful benchmark: new EC launches in D18 are pricing above S$1,400 psf at launch, while Belysa — already privatised and with a track record of livability — trades at comparable or slightly lower levels, offering a rare value proposition.
The broader OCR private residential market recorded a 3.2% full-year price increase in 2025, supported by limited new supply in the eastern corridor and resilient upgrader demand. District 18 in particular benefits from a structural undersupply of private condominiums relative to its large HDB population base, meaning that each completed EC privatisation event (Belysa being the most recent locally) adds a relatively small number of open-market units to a deep pool of potential upgrader demand. This supply-demand asymmetry underpins the neighbourhood’s price floor. According to URA transaction data, the district has consistently attracted a healthy volume of resale and sub-sale activity, with the OCR segment broadly outperforming the core central region on a year-on-year volume basis through 2024–2025.
We track 93 sales and 118 rental transaction records for this property. Explore live charts, price trends, rental yields, and investment analytics on the BELYSA dashboard.
- Average sale price: $1,344,405 across 93 transactions
- Estimated gross rental yield: 3.5%
- District 18 PSF ranking: Above average (top 48%)
- 99 yrs lease commencing from 2011 · OCR · D18 · 315 units
About BELYSA
BELYSA is a 99 yrs lease commencing from 2011 condominium, located at PASIR RIS DRIVE 1 in District 18 (Tampines, Pasir Ris) (Outside Central Region), developed by PASIR RIS EC PTE. LTD, comprising 315 residential units, completed in 2014.
With approximately 84 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 BELYSA:
| Type | Sales | Avg PSF | Avg Price |
|---|---|---|---|
| 2 BR | 21 | $1,190 psf | $1,027,143 |
| 3 BR | 62 | $1,266 psf | $1,407,835 |
| 4 BR | 10 | $1,105 psf | $1,617,389 |
Sales Market Overview
BELYSA has recorded 93 sale transactions with an average transaction price of $1,344,405, ranging from $810,000 to $1,935,000.
| Year | Sales | Avg PSF | Avg Price | YoY |
|---|---|---|---|---|
| 2021 | 15 | $966 psf | $970,593 | — |
| 2022 | 15 | $1,077 psf | $1,189,400 | ↑ 11.5% |
| 2023 | 14 | $1,192 psf | $1,384,929 | ↑ 10.7% |
| 2024 | 19 | $1,335 psf | $1,449,205 | ↑ 12.0% |
| 2025 | 21 | $1,378 psf | $1,531,619 | ↑ 3.2% |
| 2026 | 9 | $1,432 psf | $1,504,654 | ↑ 3.9% |
BELYSA ranks in the top 48% of condos in District 18 by average PSF.
Compared to the OCR average of $1,550 psf, BELYSA trades 20.5% below the segment benchmark.
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Rental Market Overview
BELYSA has recorded 118 rental transactions with monthly rents averaging $3,885/mo.
| Type | Leases | Avg Rent | Min | Max |
|---|---|---|---|---|
| 3 BR | 111 | $3,814/mo | $1,800/mo | $5,800/mo |
| 4 BR | 7 | $5,007/mo | $4,000/mo | $5,550/mo |
| Year | Leases | Avg Rent |
|---|---|---|
| 2021 | 16 | $3,159/mo |
| 2022 | 31 | $3,713/mo |
| 2023 | 21 | $4,360/mo |
| 2024 | 21 | $4,055/mo |
| 2025 | 21 | $4,017/mo |
| 2026 | 8 | $3,969/mo |
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Investment Analysis
Based on average rents and sale prices, BELYSA delivers an estimated gross rental yield of 3.5%. This is above the Singapore-wide benchmark of approximately 3%.
Competing Condos in District 18
Side-by-side comparison against the most actively traded condos in District 18 (Tampines, Pasir Ris):
| Condo | Tenure | Units | Avg PSF | Sales |
|---|---|---|---|---|
| TREASURE AT TAMPINES | 99-year leasehold | 2203 | $1,588 psf | 1176 |
| PARKTOWN RESIDENCE | 99 yrs lease commencing from 2023 | 1193 | $2,367 psf | 1164 |
| AURELLE OF TAMPINES | 99 yrs lease commencing from 2024 | 760 | $1,769 psf | 760 |
| TENET | 99 yrs lease commencing from 2021 | 618 | $1,386 psf | 618 |
| RIVELLE TAMPINES | 99 years leasehold | — | $1,933 psf | 570 |
Location Map
Map shows BELYSA (centre marker) with nearby MRT stations and schools. Drag to pan, scroll to zoom.
- BELYSA
- Pasir Ris MRT
- White Sands Primary School
- Pasir Ris Secondary School
- Pasir Ris Primary School
Nearby MRT Stations
BELYSA is 880m from Pasir Ris MRT (East-West Line).
| Station | Code | Line | Distance |
|---|---|---|---|
| Pasir Ris | EW1 | East-West Line | 880m |
Nearby Schools
There are 10 schools within 2 km of BELYSA, including 2 within the 1 km priority zone.
| School | Type | Distance |
|---|---|---|
| White Sands Primary School | Primary | 790m |
| Pasir Ris Secondary School | Secondary | 970m |
| Pasir Ris Primary School | Primary | 1.1 km |
| Brighton College (Singapore) | International | 1.2 km |
| Elias Park Primary School | Primary | 1.3 km |
| Pasir Ris Crest Secondary School | Secondary | 1.3 km |
| Stamford American International School | International | 1.4 km |
| Meridian Secondary School | Secondary | 1.5 km |
| Meridian Primary School | Primary | 1.5 km |
| Junyuan Primary School | Primary | 1.8 km |
Full privatisation and open-market eligibility. As of 2024 Belysa cleared the 10-year privatisation mark, removing all EC ownership restrictions. Foreign nationals, permanent residents, and investors who were previously ineligible may now purchase freely. This structural expansion of the buyer universe is the single most consequential positive for resale liquidity and capital value. Comparable ECs that recently privatised have seen measurable PSF step-ups in the 12–18 months following the milestone, as pent-up demand from previously ineligible buyers enters the market.
Dual-key and large-format units. Belysa’s unit mix is skewed toward larger configurations: it offers 3-bedroom and 4-bedroom suite options, several of which are dual-key layouts comprising two fully self-contained apartments accessed from a shared foyer. Dual-key units appeal both to multi-generational families — a growing household archetype in Singapore — and to investors who wish to rent out one unit while occupying the other. Saleable floor areas for 4-bedroom units typically exceed 1,300 sqft, delivering genuine room for family living at a cost-per-sqft well below new launches of equivalent size in the CCR or RCR.
Connectivity and transit access. Pasir Ris MRT (East-West Line) is approximately 10–15 minutes by foot or three bus stops from Belysa, providing direct access to the CBD via Paya Lebar, City Hall, and Raffles Place in under 40 minutes. The ongoing CRL upgrade at Pasir Ris will further shrink travel times to the western corridor once complete. For residents preferring road travel, the TPE and PIE are within a short drive, making Changi Airport reachable in under 20 minutes on most journeys.
Established neighbourhood amenities. White Sands Shopping Mall, Pasir Ris Mall, and Elias Mall provide daily retail and F&B needs within a 5-minute radius. Pasir Ris Town Park, one of Singapore’s largest and most popular coastal parks, is a short cycle ride away, supporting an active outdoor lifestyle. The Sungei Api Api Park Connector links directly to the broader Park Connector Network. Families benefit from proximity to well-regarded schools including Pasir Ris Primary, Park View Primary, and Hai Sing Catholic School, as well as tertiary institutions such as Meridian Junior College and the Singapore University of Technology and Design (SUTD) in Tampines.
Price quantum and affordability relative to new launches. With resale units currently transacting between S$1.3 million and S$2.58 million, Belysa offers a meaningfully lower entry ticket than comparable new-launch condominiums in the eastern OCR. Buyers can run scenarios using the mortgage calculator or stamp duty calculator to confirm that total upfront costs — including the Buyer’s Stamp Duty, legal fees, and any ABSD where applicable — remain well within reach for a dual-income household at Singapore median wages.
Lease decay and long-term financing. Belysa’s 99-year leasehold commenced in 2011, leaving approximately 85 years on the lease as of 2026. While that quantum is entirely adequate for a buyer intending to hold for 10–20 years and sell well within the comfortable financing window (banks typically require at least 30 years remaining to offer a full loan tenure), buyers in their 50s or 60s should model the remaining lease against their intended holding period and the eventual exit pricing. The lease decay calculator can quantify the valuation haircut at various hold periods. As the lease drops below 70 years, CPF usage restrictions and more conservative bank valuations begin to constrain the buyer pool for subsequent resale, creating a longer-term capital risk that a freehold or newer-leasehold alternative does not carry.
Age of development and maintenance cycle. At 11–12 years old, Belysa is entering the phase where major common-property components — lifts, pool filtration, waterproofing, M&E systems — may require significant capital expenditure. Prospective buyers should review the MCST’s sinking fund balance and recent Annual General Meeting minutes before committing. A well-funded sinking fund is a positive indicator; a depleted one may signal higher future S&C levies or special levies.
Limited unit count and thin secondary market. With only 315 units across three blocks, Belysa’s secondary market is relatively illiquid. In any given quarter, only a handful of units may be available for sale or rent, which can work in a seller’s favour in rising markets but makes price discovery more volatile in a downturn. Investors seeking a robust rental yield should check current occupancy carefully: a 93-transaction recorded sales history suggests decent turnover, but rental demand is ultimately anchored to local employment catchment and the pace of new HDB upgrader cohorts, both of which are subject to policy shifts.
Location premium vs. MRT walk time. The 10–15-minute walk to Pasir Ris MRT, while acceptable, is not “short walk” territory. Residents without a car will depend on feeder buses on wet days. The future CRL stop is expected to improve the situation, but timelines for full CRL buildout extend to the late 2020s, meaning this inconvenience is a medium-term reality.
[
{
"persona": "HDB upgrader (family of 3–5)",
"fit_color": "green",
"reason": "Belysa’s large-format 4-bedroom and dual-key units deliver genuine living space at a price quantum below most new-launch OCR condominiums. For a family completing their HDB MOP and seeking a private-market upgrade with condo facilities, Belysa is a natural match — especially for those already anchored to Pasir Ris schools and amenities."
},
{
"persona": "Multi-generational household",
"fit_color": "green",
"reason": "The dual-key 3- and 4-bedroom suite layouts, each with separate entrances, are purpose-built for live-in grandparents or adult children who value privacy within a shared address. This is a hard-to-find format in resale condominiums at Belysa’s price quantum."
},
{
"persona": "Buy-to-let investor (Singapore citizen or PR, 2nd property)",
"fit_color": "yellow",
"reason": "Gross rental yields in OCR ECs typically range 3.0–3.8%, which is competitive but not exceptional. The ABSD of 20% on a second residential property materially raises the effective acquisition cost. Investors should model the full <a href=\"/calculator/roi\">ROI</a> and <a href=\"/calculator/cash-flow\">cash flow</a> before proceeding — the deal stacks up only if the buyer has a long hold horizon to amortise the stamp duty drag and intends to capture capital appreciation from the post-privatisation uplift."
},
{
"persona": "Foreign national or SPR seeking open-market EC entry",
"fit_color": "green",
"reason": "Now fully privatised, Belysa is one of the few EC developments in D18 that foreigners and Singapore Permanent Residents may purchase without the citizenship and income ceiling restrictions that apply to new EC sales. For a family relocating to Singapore that wants east-side living with quality facilities at a sub-S$2.0 million entry, Belysa represents genuine value."
},
{
"persona": "Retiree or older owner-occupier (50+)",
"fit_color": "yellow",
"reason": "The remaining lease of ~85 years is sufficient for most retirement holding horizons, but buyers in their 60s should stress-test exit liquidity using the <a href=\"/calculator/lease-decay\">lease decay calculator</a>. For an owner who plans to age in place and does not need to sell, the lease term is not a material concern; for one who may need to monetise the asset in 20–25 years, the bank financing constraints on a 60-year-remaining lease warrant scrutiny."
},
{
"persona": "First-time private property buyer (young professional couple)",
"fit_color": "yellow",
"reason": "The minimum entry quantum of ~S$1.3 million demands a meaningful cash outlay after ABSD exemption (as first purchase) and CPF utilisation. Couples who have not exhausted CPF OA balances may find the <a href=\"/calculator/affordability\">affordability calculator</a> helpful. The east-side commute to CBD jobs is manageable but not trivial; those working in one-north or Jurong should factor in travel time carefully."
}
]
Belysa occupies a well-defined sweet spot in the Singapore resale EC market. It is not a “hot money” speculation play — it lacks the proximity premium of a city-fringe address or the novelty premium of a new launch — but it delivers something arguably more durable: a fully privatised, spacious, well-facilitated private condominium in a self-contained town with improving transit connectivity, at a price-per-sqft that is difficult to replicate in the OCR without accepting a basement leasehold term or a severely constrained unit configuration.
The privatisation milestone is a genuine inflexion point. Resale EC transactions at comparable developments have historically shown a meaningful PSF step-up in the two years following full privatisation, as ineligible-buyer demand enters the market for the first time. Belysa is positioned to continue benefiting from this dynamic, particularly as the Pasir Ris MRT interchange upgrade and the broader CRL network draw more buyers to the north-eastern corridor. The competing risk is lease decay: at 85 years remaining, the runway is comfortable today but will start to constrain financing and CPF usage in the 2040s. Buyers with a 15–20-year horizon should factor this into their exit modelling. For the core buyer profile — the Singapore HDB-upgrading family or multi-generational household anchored to Pasir Ris — Belysa is a high-conviction choice. For investors or buyers with a shorter hold horizon, the ABSD drag and moderate yield profile mean the investment case requires careful underwriting rather than a buy-and-forget approach.
FAQ
What is the average price for BELYSA?
What is the rental yield for BELYSA?
Is BELYSA freehold or leasehold?
Can foreigners buy Belysa EC in 2026?
Yes. Belysa crossed the 10-year privatisation threshold in 2024, which means it is now treated as a standard private condominium for resale purposes. Foreigners, Singapore Permanent Residents, and corporate entities may all purchase a resale unit without the citizenship or income-ceiling eligibility requirements that apply to new EC launches. Foreign buyers will still be subject to the Additional Buyer’s Stamp Duty (ABSD) applicable to their profile — currently 60% for foreign nationals purchasing any residential property in Singapore — so the practical buyer pool is primarily Singaporeans, PRs, and investors structuring via qualifying entities.
What are the dual-key units at Belysa, and are they worth the premium?
Belysa’s 3-bedroom suite and 4-bedroom suite configurations are dual-key layouts: two fully self-contained apartments — each with its own bedroom, bathroom, kitchen, and living area — sharing a common entrance foyer but accessed by separate keys. For multi-generational families, this arrangement provides privacy for elderly parents or adult children while maintaining proximity. For owner-investors, it allows one sub-unit to be rented out while the other is owner-occupied, potentially offsetting mortgage costs. Whether the dual-key premium is “worth it” depends on the buyer’s use case: families who will use both sub-units will find the format invaluable; single-household buyers may prefer a conventional layout at a lower quantum.
How far is Belysa from Pasir Ris MRT, and how will the Cross Island Line affect connectivity?
Belysa is approximately 10–15 minutes on foot from Pasir Ris MRT station on the East-West Line, or three bus stops via feeder services. The East-West Line provides direct access to Tampines, Bedok, Paya Lebar, Kallang, and the CBD without changing trains. The Cross Island Line (CRL) is under construction, with the Pasir Ris interchange expected to connect CRL and EWL services. Once operational, the CRL will significantly reduce travel times to destinations such as Bright Hill, Ang Mo Kio, and Jurong Lake District, making Belysa materially more attractive to buyers currently deterred by the east-west commute bias. Construction timelines for the CRL extend to the late 2020s.
Should I be concerned about lease decay at Belysa?
With approximately 85 years remaining on the lease as of 2026, Belysa does not face imminent lease-decay pressure. CPF usage and bank financing remain largely unrestricted above 60 years remaining. However, buyers holding the property for 20–25 years will begin to encounter CPF use restrictions and conservative bank valuations as the remaining lease approaches the 60-year mark in the mid-2040s. The practical implication is that a resale transaction in 2045–2050 may attract a smaller buyer pool and lower valuations relative to a freehold or newer-leasehold comparable. For buyers with a 10–15-year holding horizon, lease decay is not a primary concern; for those aiming to hold longer or to pass the asset to the next generation, the lease decay calculator is worth running through various scenarios.
What schools are within the 1 km and 2 km registration priority zones for Belysa?
Pasir Ris Primary School and Park View Primary School are within the immediate vicinity of Belysa and have historically been within the priority registration zones for residents of Pasir Ris Drive 1. Hai Sing Catholic School serves the secondary school bracket. Parents should verify the exact distance rankings annually via the MOE School Finder tool, as zone boundaries are reviewed periodically. For tertiary access, Meridian Junior College and the Singapore University of Technology and Design (SUTD) campus in nearby Tampines are readily accessible by bus and MRT, making Belysa a practical base for households with older children in higher education.
Methodology & Sources
This analysis covers All available years and refreshes as new data becomes available.
Transaction data sourced from URA REALIS.
- Sales data: 93 transactions analysed
- Rental data: 118 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 BELYSA
Access the full interactive dashboard with real-time sales trends, rental yields, and investment calculators.