CHESTNUT RESIDENCES is a 82-year balance leasehold development along JALAN EMAS URAI in District 23 (Bukit Panjang / Choa Chu Kang), part of the OCR segment of Singapore's private residential market. The project comprises 10 units and is TOP 2009.
This profile draws on 2 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.
At roughly 17 years from TOP, CHESTNUT RESIDENCES 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 23 (Bukit Panjang / Choa Chu Kang), the immediate context for CHESTNUT RESIDENCES 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 2 sales and 0 rental transaction records for this property. Explore live charts, price trends, rental yields, and investment analytics on the CHESTNUT RESIDENCES dashboard.
- Average sale price: $2,755,000 across 2 transactions
- District 23 PSF ranking: Value tier (top 98%)
- 999 yrs lease commencing from 1882 · OCR · D23 · 10 units
About CHESTNUT RESIDENCES
CHESTNUT RESIDENCES is a 999 yrs lease commencing from 1882 condominium, located at JALAN EMAS URAI in District 23 (Choa Chu Kang, Dairy Farm, Hillview, Bukit Panjang) (Outside Central Region), developed by SUCCESS CENTURY DEVELOPMENT PTE LTD, comprising 10 residential units, completed in 2009.
With approximately 82 years remaining on its 99-year lease, the property qualifies for full bank financing and CPF usage.
Sales Market Overview
CHESTNUT RESIDENCES has recorded 2 sale transactions with an average transaction price of $2,755,000, ranging from $2,650,000 to $2,860,000.
| Year | Sales | Avg PSF | Avg Price | YoY |
|---|---|---|---|---|
| 2021 | 1 | $755 psf | $2,650,000 | — |
| 2023 | 1 | $830 psf | $2,860,000 | ↑ 9.9% |
CHESTNUT RESIDENCES ranks in the top 98% of condos in District 23 by average PSF.
Compared to the OCR average of $1,550 psf, CHESTNUT RESIDENCES trades 48.8% below the segment benchmark.
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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 RESIDENCES (centre marker) with nearby MRT stations and schools. Drag to pan, scroll to zoom.
- CHESTNUT RESIDENCES
- Hillview MRT
- Cashew MRT
- Pending MRT
- Petir MRT
- Bangkit MRT
- Pei Hwa Presbyterian Primary School
- Bukit Panjang Government High School
- Fajar Secondary School
Nearby MRT Stations
CHESTNUT RESIDENCES is 670m from Hillview MRT (Downtown Line), with 7 stations within 1.5 km.
| Station | Code | Line | Distance |
|---|---|---|---|
| Hillview | DT3 | Downtown Line | 670m |
| Cashew | DT2 | Downtown Line | 740m |
| Pending | BP8 | Bukit Panjang LRT | 950m |
| Petir | BP7 | Bukit Panjang LRT | 1.2 km |
| Bangkit | BP9 | Bukit Panjang LRT | 1.4 km |
| Bukit Panjang | DT1 | Downtown Line | 1.5 km |
| Bukit Panjang | BP6 | Bukit Panjang LRT | 1.5 km |
Nearby Schools
There are 7 schools within 2 km of CHESTNUT RESIDENCES.
| School | Type | Distance |
|---|---|---|
| Pei Hwa Presbyterian Primary School | Primary | 1.2 km |
| Bukit Panjang Government High School | Secondary | 1.5 km |
| Fajar Secondary School | Secondary | 1.6 km |
| Springdale Primary School | Primary | 1.7 km |
| Bukit Panjang Primary School | Primary | 1.7 km |
| Xishan Primary School | Primary | 1.7 km |
| Greenridge Secondary School | Secondary | 1.9 km |
Adequate lease horizon. Around 82 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. Hillview is about 0.67km — 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 10 units, CHESTNUT RESIDENCES 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 1.22km 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-decay clock to monitor. Remaining lease is comfortably above critical CPF thresholds but already in the band where 10-15 year holds materially compress the next buyer's CPF eligibility. Plan exit timing with this in mind rather than assuming open-ended hold optionality.
Thin transaction history. With only 2 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 RESIDENCES 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. 2 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
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Methodology & Sources
This analysis covers All available years and refreshes as new data becomes available.
Transaction data sourced from URA REALIS.
- Sales data: 2 transactions 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 RESIDENCES
Access the full interactive dashboard with real-time sales trends, rental yields, and investment calculators.