CHESTNUT GARDENS is a 66-year balance leasehold development along CHESTNUT GARDENS in District 23 (Bukit Panjang / Choa Chu Kang), part of the OCR segment of Singapore's private residential market. The project comprises 30 units and is TOP 1993.
This profile draws on 5 recorded transactions from URA REALIS 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.
The project is in its mature or late-resale phase, where lease tenure (for leasehold stock), redevelopment optionality, and en-bloc potential all start to weigh more on the investment thesis than current rental yield.
Within District 23 (Bukit Panjang / Choa Chu Kang), the immediate context for CHESTNUT GARDENS 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 5 sales and 5 rental transaction records for this property. Explore live charts, price trends, rental yields, and investment analytics on the CHESTNUT GARDENS dashboard.
- Average sale price: $5,342,778 across 5 transactions
- Estimated gross rental yield: 1.8%
- District 23 PSF ranking: Premium tier (top 20%)
- 999 yrs lease commencing from 1882 · OCR · D23 · 30 units
About CHESTNUT GARDENS
CHESTNUT GARDENS is a 999 yrs lease commencing from 1882 condominium, located at CHESTNUT GARDENS in District 23 (Choa Chu Kang, Dairy Farm, Hillview, Bukit Panjang) (Outside Central Region), developed by SIANG HOW REALTY PTE LTD, comprising 30 residential units, completed in 1993.
With approximately 66 years remaining on its 99-year lease, the property qualifies for full bank financing and CPF usage.
Sales Market Overview
CHESTNUT GARDENS has recorded 5 sale transactions with an average transaction price of $5,342,778, ranging from $3,608,888 to $7,800,000.
| Year | Sales | Avg PSF | Avg Price | YoY |
|---|---|---|---|---|
| 2021 | 1 | $1,097 psf | $6,600,000 | — |
| 2022 | 2 | $1,825 psf | $3,616,944 | ↑ 66.4% |
| 2023 | 1 | $1,701 psf | $5,080,000 | ↓ 6.8% |
| 2025 | 1 | $1,458 psf | $7,800,000 | ↓ 14.3% |
CHESTNUT GARDENS ranks in the top 20% of condos in District 23 by average PSF.
Compared to the OCR average of $1,550 psf, CHESTNUT GARDENS trades 2% above the segment benchmark.
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Rental Market Overview
CHESTNUT GARDENS has recorded 5 rental transactions with monthly rents averaging $8,210/mo.
| Type | Leases | Avg Rent | Min | Max |
|---|---|---|---|---|
| Studio | 5 | $8,210/mo | $6,650/mo | $10,000/mo |
| Year | Leases | Avg Rent |
|---|---|---|
| 2021 | 1 | $6,650/mo |
| 2022 | 1 | $8,000/mo |
| 2023 | 1 | $10,000/mo |
| 2024 | 1 | $7,900/mo |
| 2025 | 1 | $8,500/mo |
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Investment Analysis
Based on average rents and sale prices, CHESTNUT GARDENS delivers an estimated gross rental yield of 1.8%. This is below the 3% benchmark, suggesting stronger capital appreciation potential.
Competing Condos in District 23
Side-by-side comparison against the most actively traded condos in District 23 (Choa Chu Kang, Dairy Farm, Hillview, Bukit Panjang):
| Condo | Tenure | Units | Avg PSF | Sales |
|---|---|---|---|---|
| SOL ACRES | 99 yrs lease commencing from 2014 | 1327 | $1,383 psf | 550 |
| MIDWOOD | 99 yrs lease commencing from 2018 | 564 | $1,731 psf | 528 |
| LUMINA GRAND | 99 yrs lease commencing from 2022 | 512 | $1,515 psf | 512 |
| DAIRY FARM RESIDENCES | 99 yrs lease commencing from 2018 | 460 | $1,659 psf | 452 |
| THE BOTANY AT DAIRY FARM | 99 yrs lease commencing from 2022 | 386 | $2,053 psf | 388 |
Location Map
Map shows CHESTNUT GARDENS (centre marker) with nearby MRT stations and schools. Drag to pan, scroll to zoom.
- CHESTNUT GARDENS
- Cashew MRT
- Hillview MRT
- Pending MRT
- Petir MRT
- Bukit Panjang MRT
- Pei Hwa Presbyterian Primary School
- Bukit Panjang Government High School
- Fajar Secondary School
Nearby MRT Stations
CHESTNUT GARDENS is 540m from Cashew MRT (Downtown Line), with 7 stations within 1.5 km.
| Station | Code | Line | Distance |
|---|---|---|---|
| Cashew | DT2 | Downtown Line | 540m |
| Hillview | DT3 | Downtown Line | 750m |
| Pending | BP8 | Bukit Panjang LRT | 800m |
| Petir | BP7 | Bukit Panjang LRT | 1.0 km |
| Bukit Panjang | DT1 | Downtown Line | 1.2 km |
| Bukit Panjang | BP6 | Bukit Panjang LRT | 1.2 km |
| Bangkit | BP9 | Bukit Panjang LRT | 1.3 km |
Nearby Schools
There are 8 schools within 2 km of CHESTNUT GARDENS, including 1 within the 1 km priority zone.
| School | Type | Distance |
|---|---|---|
| Pei Hwa Presbyterian Primary School | Primary | 980m |
| Bukit Panjang Government High School | Secondary | 1.4 km |
| Fajar Secondary School | Secondary | 1.4 km |
| Springdale Primary School | Primary | 1.5 km |
| Bukit Panjang Primary School | Primary | 1.5 km |
| Xishan Primary School | Primary | 1.6 km |
| Greenridge Secondary School | Secondary | 1.7 km |
| Zhenghua Primary School | Primary | 2.0 km |
Walking-distance MRT. Cashew is about 0.54km — 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.
Boutique character. With 30 units, CHESTNUT GARDENS keeps a low-density character — fewer residents per facility, quieter corridors, more curated common spaces. Suits buyers prioritising unit-interior quality and neighbour proximity over deep facilities breadth.
School-belt proximity. Pei Hwa Presbyterian Primary School sits about 0.98km away, with additional schools clustered nearby. Family households on 24-month tenancies anchor the rental pool, which materially improves vacancy economics for landlord-owners.
Lease tenor below 75 years. With roughly 66 years remaining, CPF usage starts to be capped (the 95-year rule reduces utilisation as lease decays), and bank loan tenor compresses correspondingly. The resale buyer pool narrows toward older buyers with shorter horizons.
Thin transaction history. With only 5 recorded sales, comparable-sales analysis is fragile — a single outlier transaction can skew the apparent price level by 5-10%. Triangulate with nearby district comparables rather than rely on within-project averages alone.
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.
[
{
"persona": "Young couple, first home",
"fit_color": "amber",
"reason": "Lease horizon constrains long-hold optionality"
},
{
"persona": "Family with school-age kids",
"fit_color": "green",
"reason": "Nearby schools support MOE registration priority"
},
{
"persona": "CBD commuter",
"fit_color": "green",
"reason": "Walking-distance MRT supports daily commute"
},
{
"persona": "Rental investor (yield-focused)",
"fit_color": "red",
"reason": "Thin transaction history makes underwriting fragile"
},
{
"persona": "Foreign professional (expat)",
"fit_color": "amber",
"reason": "MRT plus mid-size facility suite typically meets expat-tenant criteria"
},
{
"persona": "Long-term hold (10+ yr)",
"fit_color": "amber",
"reason": "Plan exit timing around lease-decay thresholds"
}
]
Composite assessment: CHESTNUT GARDENS benefits from MRT proximity but the lease horizon or district position requires careful exit-timing planning. Active management of the hold matters more than passive accumulation. 5 transactions in URA REALIS provide the data foundation for this view.
Suggested holding period for most buyer profiles: 5-8 years with monitored exit windows. 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 CHESTNUT GARDENS?
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Is CHESTNUT GARDENS freehold or leasehold?
How far is the nearest MRT from CHESTNUT GARDENS?
What is the tenure of CHESTNUT GARDENS?
How does CHESTNUT GARDENS compare to other projects in the district?
What stamp duty applies for a foreign buyer of CHESTNUT GARDENS?
Methodology & Sources
This analysis covers All available years and refreshes as new data becomes available.
Transaction data sourced from URA REALIS.
- Sales data: 5 transactions analysed
- Rental data: 5 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 CHESTNUT GARDENS
Access the full interactive dashboard with real-time sales trends, rental yields, and investment calculators.