iNz Residence stands as one of the more compelling Executive Condominium (EC) propositions in Singapore’s Outside Central Region. Developed by Qingjian Realty and completed in 2019, this 497-unit development along Choa Chu Kang Avenue 5 in District 23 has matured through its five-year Minimum Occupation Period (MOP) — a milestone reached on 30 April 2024 — and is now fully open to resale on the open market to Singapore Citizens and Permanent Residents. What has followed that MOP unlock is a steady stream of profitable transactions, with average owner gains tracked at S$565,293 across 68 recorded resales and select four- and five-bedroom owners walking away with profits approaching or exceeding S$1 million. At an average resale PSF of roughly S$1,446 (based on recent 12-month data), iNz Residence occupies a sweet spot: it offers genuinely private-condominium quality — nine towers of 15–16 storeys, over 60 facilities, a first-of-its-kind Sky Garden for a west-side EC — at a price point considerably below comparable private condominiums in the same precinct. For buyers who missed the original launch window, the post-MOP resale market offers a second shot at owning in a well-established, amenity-rich township with tangible connectivity upgrades on the horizon.
Snapshot as of 2026-05 — figures above reflect publicly available URA/HDB data at the time of this editorial review (as of 2026-05).
District 23 — encompassing Hillview, Dairy Farm, Bukit Panjang, and Choa Chu Kang — has historically been characterised as a quiet, family-oriented estate on Singapore’s northwestern fringe. That characterisation is being actively revised by a convergence of infrastructure investments. The Jurong Region Line (JRL), once fully operational, will dramatically improve cross-district connectivity, linking CCK residents to Nanyang Technological University, the Jurong Industrial Estate, and the emerging Jurong Innovation District without requiring a transfer through the city-state’s congested central interchange nodes. A new integrated hospital slated for nearby Tengah adds further weight to the argument that the government’s development pipeline is firmly pointed at this corridor.
In the immediate vicinity, iNz Residence benefits from an already-mature ecosystem. Lot One Shoppers’ Mall, Choa Chu Kang MRT (North–South Line) and the Bukit Panjang LRT interchange are within comfortable walking distance, providing the dual advantage of commuter convenience and daily-use retail. The surrounding HDB estate provides a deep neighbourhood feel — hawker centres, wet markets, community clubs, and primary schools are distributed across the town in a manner typical of Singapore’s planned townships. Choa Chu Kang Primary School, South View Primary School, and Yew Tee Primary School all sit within roughly 1 km of the development, making iNz Residence an attractive fit for families with young children navigating the Primary 1 registration exercise.
From a macro pricing perspective, OCR condominiums continue to attract the broadest buyer pool in Singapore, driven by first-timer upgrader demand and investors seeking yield in a market where CCR and RCR price points have stretched further from median household incomes. District 23 private-condo transactions in 2024–2025 have averaged in the S$1,400–S$1,700 psf band for newer projects, placing iNz Residence’s resale pricing at a modest but real discount to freshly-launched neighbours — a gap that partially reflects the remaining 99-year lease decay (approximately 89 years as of 2025) and the EC stigma that persists among some institutional and foreign buyers until the 10-year full-privatisation milestone, due in 2029.
We track 140 sales and 43 rental transaction records for this property. Explore live charts, price trends, rental yields, and investment analytics on the INZ RESIDENCE dashboard.
- Average sale price: $1,458,082 across 140 transactions
- Estimated gross rental yield: 3.1%
- District 23 PSF ranking: Above average (top 42%)
- 99 yrs lease commencing from 2015 · OCR · D23 · 497 units
About INZ RESIDENCE
INZ RESIDENCE is a 99 yrs lease commencing from 2015 condominium, located at CHOA CHU KANG AVENUE 5 in District 23 (Choa Chu Kang, Dairy Farm, Hillview, Bukit Panjang) (Outside Central Region), comprising 497 residential units.
Unit Mix Distribution
Transaction data breakdown by bedroom type at INZ RESIDENCE:
| Type | Sales | Avg PSF | Avg Price |
|---|---|---|---|
| 1 BR | 14 | $1,407 psf | $969,063 |
| 2 BR | 17 | $1,417 psf | $1,246,333 |
| 3 BR | 103 | $1,418 psf | $1,509,990 |
| 4 BR | 6 | $1,351 psf | $2,308,000 |
Sales Market Overview
INZ RESIDENCE has recorded 140 sale transactions with an average transaction price of $1,458,082, ranging from $935,000 to $2,360,000.
| Year | Sales | Avg PSF | Avg Price | YoY |
|---|---|---|---|---|
| 2021 | 1 | $1,060 psf | $1,050,000 | — |
| 2023 | 2 | $1,182 psf | $1,330,000 | ↑ 11.5% |
| 2024 | 75 | $1,402 psf | $1,382,099 | ↑ 18.6% |
| 2025 | 56 | $1,439 psf | $1,569,276 | ↑ 2.6% |
| 2026 | 6 | $1,470 psf | $1,480,777 | ↑ 2.2% |
INZ RESIDENCE ranks in the top 42% of condos in District 23 by average PSF.
Compared to the OCR average of $1,550 psf, INZ RESIDENCE trades 8.8% below the segment benchmark.
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Rental Market Overview
INZ RESIDENCE has recorded 43 rental transactions with monthly rents averaging $3,798/mo.
| Type | Leases | Avg Rent | Min | Max |
|---|---|---|---|---|
| 2 BR | 5 | $3,436/mo | $3,300/mo | $3,600/mo |
| 3 BR | 34 | $3,803/mo | $2,750/mo | $4,800/mo |
| 4 BR | 4 | $4,213/mo | $3,950/mo | $4,500/mo |
| Year | Leases | Avg Rent |
|---|---|---|
| 2022 | 3 | $2,850/mo |
| 2023 | 5 | $3,800/mo |
| 2024 | 13 | $4,015/mo |
| 2025 | 18 | $3,803/mo |
| 2026 | 4 | $3,783/mo |
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Investment Analysis
Based on average rents and sale prices, INZ RESIDENCE delivers an estimated gross rental yield of 3.1%. This is above the Singapore-wide benchmark of approximately 3%.
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 INZ RESIDENCE (centre marker) with nearby MRT stations and schools. Drag to pan, scroll to zoom.
- INZ RESIDENCE
- South View MRT
- Keat Hong MRT
- Choa Chu Kang MRT
- Choa Chu Kang MRT
Nearby MRT Stations
INZ RESIDENCE is 950m from South View MRT (Bukit Panjang LRT), with 4 stations within 1.5 km.
| Station | Code | Line | Distance |
|---|---|---|---|
| South View | BP2 | Bukit Panjang LRT | 950m |
| Keat Hong | BP3 | Bukit Panjang LRT | 1.2 km |
| Choa Chu Kang | NS4 | North-South Line | 1.3 km |
| Choa Chu Kang | BP1 | Bukit Panjang LRT | 1.3 km |
iNz Residence brings together a set of strengths that are difficult to replicate in a single resale purchase at a comparable price point. First and foremost is the value proposition relative to the surrounding private market. Resale PSF in the S$1,373–S$1,578 range (with select outliers up to S$1,694) sits meaningfully below what a similarly-sized private condominium in CCK or Bukit Panjang would command, even accounting for the EC-status constraints that remain until full privatisation in 2029. Buyers who enter now at the current PSF levels are, in effect, acquiring quasi-private property at a structural discount that narrows automatically when the 10-year mark is reached.
Second is unit mix breadth and genuine size. The development offers two-bedroom to five-bedroom Maisonette configurations — a rarity in modern Singapore launches where developers routinely compress unit sizes to maximise the number of saleable lots per plot. The five-bedroom maisonette typology in particular attracts multi-generational households and families who prioritise living space over absolute locational prestige. At 1,711 sqft for the larger units, iNz Residence delivers floor areas that would command a significant premium in comparable private launches.
Third is facility quality. Over 60 curated facilities — including a TRX Fitness Deck, tennis court, putting green, and the headline Sky Garden — were specified at private-condo standards rather than the leaner fit-out often seen in earlier EC generations. Qingjian Realty’s positioning as a developer known for smart-home integration is also reflected in iNz Residence’s mobile-app-enabled access control and appliance management, a feature that was genuinely ahead of the market at the time of launch and remains a differentiator today.
Fourth is track record of profitable resales. With 68 transactions recording no losses and an average profit of S$565,293 — and a subset of large-unit sellers capturing close to S$1 million — iNz Residence has demonstrated that the OCR EC appreciation thesis has played out here. The post-MOP price trajectory, from launch prices in the S$800–S$900 psf range to current resale levels of S$1,400–S$1,600 psf, represents appreciation of roughly 60–80% over seven to eight years, outpacing CPI and broadly in line with the best-performing OCR private condominiums over the same period. For prospective buyers, this history de-risks the purchase: the asset has a demonstrated secondary market and a clear liquidity path toward 2029.
Prospective buyers should weigh several structural and market-specific risks before committing. The most significant is lease decay. iNz Residence holds a 99-year lease from 2015, meaning approximately 89 years of tenure remain as of 2025. While this is comfortably above the 60-year threshold at which CPF usage and bank financing begin to be restricted, buyers who plan to hold for 20–30 years will eventually see the lease clock begin to weigh on resale values in the 2040s and beyond. This is not unique to iNz Residence — all 99-year leasehold properties in Singapore face the same trajectory — but it is a relevant planning horizon consideration for younger buyers or those purchasing with long-term wealth-transfer intent.
Second is the EC resale buyer pool restriction until 2029. Until the 10-year full-privatisation milestone, foreigners and corporate entities cannot purchase units. This structurally limits the resale market to Singapore Citizens and PRs for the next four years. In a tight market, this is unlikely to be a material constraint — Citizens and PRs represent the overwhelming majority of residential purchasers in OCR anyway — but it does mean that a forced sale in an adverse market window before 2029 would have a narrower buyer universe than a fully private condominium. Sellers should factor this into their holding-period planning.
Third is competition from new launches. The CCK and Tengah corridor is receiving significant new EC and private-condo supply over the 2024–2027 period. Freshly-launched projects with longer leases and newer specifications could apply modest downward pressure on iNz Residence’s relative pricing, particularly for buyers comparing on a PSF basis without factoring in the larger unit sizes that iNz Residence offers. Buyers should run a direct comparison against current competing listings before finalising their offer price.
Fourth is yield compression risk. At a current rental yield of approximately 3.5%, iNz Residence sits in line with OCR averages but does not offer the yield premium that investors sometimes target for leveraged residential purchases. Rising interest rates or a softening rental market could compress net yield below mortgage servicing cost for highly leveraged buyers. Investors should stress-test their numbers using a cash flow calculator and a mortgage calculator before assuming positive carry.
[
{
"persona": "HDB upgrader family (SC/SC or SC/PR couple)",
"fit_color": "green",
"reason": "iNz Residence is exactly the asset class this buyer segment was designed for. Post-MOP resale units are available without the EC ballot process, and the large unit sizes — especially three- and four-bedders — deliver materially more space than a similarly-priced private condo in CCK. CPF OA funds can be applied to the purchase (resale EC after MOP is treated as private property for financing), and the proximity to primary schools supports the P1 registration priority radius strategy. Use a <a href=\"/calculator/stamp-duty\">stamp duty calculator</a> to confirm ABSD exposure if the HDB flat has not yet been sold."
},
{
"persona": "Investment buyer seeking post-MOP capital gain + rental yield",
"fit_color": "green",
"reason": "The combination of a demonstrated appreciation track record (60–80% gain from launch to current resale PSF), a clear 2029 full-privatisation catalyst, and a 3.5% rental yield makes iNz Residence a credible hold-to-privatise play. Buyers who can absorb the EC resale pool restriction until 2029 and hold through the privatisation event are positioned to capture the typical 10–20% uplift that accompanies full-privatisation of an EC. Model the holding period using an <a href=\"/calculator/roi\">ROI calculator</a> before committing."
},
{
"persona": "Permanent Resident seeking private-condo lifestyle on a budget",
"fit_color": "green",
"reason": "Post-MOP resale ECs are open to PRs, and iNz Residence offers facilities, unit sizes, and a developer pedigree that rivals private condominiums priced 15–25% higher in the same precinct. PRs are subject to a 5% ABSD on first residential purchase (as of current rules), which should be factored into total acquisition cost via a <a href=\"/calculator/total-cost\">total cost calculator</a>. The long remaining lease (approximately 89 years) also ensures CPF and bank financing eligibility is not constrained."
},
{
"persona": "Multi-generational household seeking maisonette space",
"fit_color": "green",
"reason": "The five-bedroom maisonette units at iNz Residence — reaching 1,711 sqft — are among the largest private-class residential units available at this price point in District 23. The dual-floor layout creates natural separation between generations while maintaining a shared address. This typology is structurally undersupplied in Singapore’s current new-launch pipeline, which has skewed heavily toward two- and three-bedroom compact configurations to manage quantum."
},
{
"persona": "First-time private buyer on a tighter budget",
"fit_color": "yellow",
"reason": "Two-bedroom units at iNz Residence offer an entry-level pathway into private-class ownership in the OCR, but buyers should be aware that resale EC two-bedders are priced above many freehold or 999-year leasehold alternatives further from the city. Additionally, the EC financing rules require at least 5% cash downpayment (CPF OA can cover the remaining 20% of the 25% minimum). Run an <a href=\"/calculator/affordability\">affordability check</a> and model a <a href=\"/calculator/tdsr\">TDSR stress test</a> before viewing units."
},
{
"persona": "Foreign buyer",
"fit_color": "red",
"reason": "Foreign nationals (non-PR) are not eligible to purchase iNz Residence units until the development reaches its 10-year full-privatisation mark in 2025 (counting from the date of issue of Temporary Occupation Permit). Based on TOP timing, full privatisation is expected around 2029. Until then, the resale buyer pool is restricted to Singapore Citizens and PRs. Foreigners seeking OCR exposure should consider fully privatised condominiums in the same district via <a href=\"/district/23\">District 23 listings</a>."
}
]
iNz Residence is, in the truest sense of the term, a mature EC investment — one that has already demonstrated its appreciation thesis and now offers incoming buyers a well-flagged path to full privatisation in approximately four years. The resale market is active, profits have been consistent, and the fundamentals of the surrounding township — mature amenities, strong schools, and credible infrastructure upgrades via the Jurong Region Line — support continued demand. At S$1,400–S$1,580 psf for recent resales, it trades at a discount to comparable private condominiums in CCK and Bukit Panjang, and that discount should tighten materially when the 2029 privatisation event removes the last remaining buyer-pool restriction.
For HDB upgrader families, the fit is as close to purpose-built as any product in the current resale market. For investment-oriented buyers, the hold-to-privatise thesis is well-supported by comparable EC privatisation uplift data from the broader market. The primary cautions — lease decay, the pre-2029 buyer-pool restriction, and near-term supply competition from new launches in Tengah — are real but manageable with appropriate holding-period planning and financing discipline. Explore other District 23 properties or compare iNz Residence directly against competing options before making a final decision. Use the refinancing calculator if you are considering switching from an existing loan package to capitalise on current rates.
FAQ
What is the average price for INZ RESIDENCE?
What is the rental yield for INZ RESIDENCE?
Is INZ RESIDENCE freehold or leasehold?
Has iNz Residence passed its Minimum Occupation Period (MOP)?
Yes. iNz Residence reached its five-year Minimum Occupation Period on 30 April 2024. From that date, original owners have been permitted to sell their units on the open market to Singapore Citizens and Permanent Residents without restriction. The 10-year full-privatisation mark — after which foreigners and corporate entities may also purchase — is expected around 2029, based on the development’s Temporary Occupation Permit date.
Can a Singapore Permanent Resident (PR) buy a resale unit at iNz Residence?
Yes. Since iNz Residence passed its five-year MOP in April 2024, Singapore Permanent Residents are eligible to purchase resale units. PRs should note that they will be subject to the Additional Buyer’s Stamp Duty (ABSD) applicable to their residency status at time of purchase — currently 5% for a PR’s first residential property. Use the stamp duty calculator to compute the full acquisition cost before negotiating a price.
What EC-specific financing rules apply when buying iNz Residence on the resale market?
Resale EC transactions after MOP are governed by private-property financing rules rather than HDB loan rules. This means: (1) buyers must use a bank loan rather than an HDB concessionary loan; (2) the Loan-to-Value (LTV) limit is 75% for a first property loan with no outstanding housing loans; (3) the minimum cash downpayment is 5% of the purchase price, with the remaining 20% of the 25% downpayment payable in cash or CPF OA; and (4) TDSR rules apply. Check your TDSR headroom with the TDSR calculator and model the monthly obligation with the mortgage calculator.
What MRT stations are closest to iNz Residence?
iNz Residence sits approximately 0.5–0.7 km from Choa Chu Kang MRT Station (North–South Line, NS4), which also serves as an interchange with the Bukit Panjang LRT network. Yew Tee MRT Station (NS5) is roughly 0.8–1 km to the north. Both stations provide direct access to the city corridor without interchange for most journeys. The upcoming Jurong Region Line will further strengthen westward connectivity to NTU and the Jurong Lake District once the relevant stations open.
How does iNz Residence compare to buying a new private condo in the same area?
New private condominium launches in the CCK, Tengah, and Bukit Panjang sub-market have consistently priced at S$1,600–S$2,000+ psf since 2022. At S$1,373–S$1,578 psf, iNz Residence resale units represent a discount of roughly 15–25% on a per-square-foot basis — and offer significantly larger unit configurations (particularly the four- and five-bedroom maisonettes) than most new launches where developers have downsized units to manage headline quantum. The key trade-off is tenure: iNz Residence has approximately 89 years remaining vs. a freshly launched project’s full 99 years. For a side-by-side comparison factoring in lease decay and total cost, the lease decay calculator provides a quantitative view of the lease shortfall effect over your intended holding period.
What are the EC ownership rules if I already own an HDB flat?
If you own an HDB flat and wish to purchase a resale EC unit (post-MOP), you must dispose of your HDB flat within six months of completing the EC purchase. This is the standard rule that applies to all purchases of private residential property — including resale ECs after MOP — by existing HDB flat owners. Plan the timeline carefully to avoid a forced sale under time pressure: the decoupling calculator and affordability calculator can help model whether a simultaneous sale-and-purchase is financially viable given your current CPF and cash positions.
Methodology & Sources
This analysis covers All available years and refreshes as new data becomes available.
Transaction data sourced from URA REALIS.
- Sales data: 140 transactions analysed
- Rental data: 43 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 INZ RESIDENCE
Access the full interactive dashboard with real-time sales trends, rental yields, and investment calculators.