MONARCHY APARTMENTS is a freehold development along MANDALAY ROAD in District 11 (Newton / Novena), part of the CCR segment of Singapore's private residential market. The project comprises 39 units and is TOP 1998.
This profile draws on 3 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 11 (Newton / Novena), the immediate context for MONARCHY APARTMENTS 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 3 sales and 39 rental transaction records for this property. Explore live charts, price trends, rental yields, and investment analytics on the MONARCHY APARTMENTS dashboard.
- Average sale price: $1,496,667 across 3 transactions
- Estimated gross rental yield: 3.5%
- District 11 PSF ranking: Value tier (top 90%)
- Freehold tenure · CCR · D11 · 39 units
About MONARCHY APARTMENTS
MONARCHY APARTMENTS is a freehold condominium, located at MANDALAY ROAD in District 11 (Watten Estate, Novena, Thomson) (Core Central Region), developed by QUEENS SQUARE INVESTMENT PTE LTD (LAND RESOURCES), comprising 39 residential units, completed in 1998.
As a freehold property, MONARCHY APARTMENTS does not face lease decay concerns.
Sales Market Overview
MONARCHY APARTMENTS has recorded 3 sale transactions with an average transaction price of $1,496,667, ranging from $1,300,000 to $1,690,000.
| Year | Sales | Avg PSF | Avg Price | YoY |
|---|---|---|---|---|
| 2021 | 1 | $998 psf | $1,300,000 | — |
| 2022 | 1 | $1,290 psf | $1,500,000 | ↑ 29.3% |
| 2023 | 1 | $1,454 psf | $1,690,000 | ↑ 12.7% |
MONARCHY APARTMENTS ranks in the top 90% of condos in District 11 by average PSF.
Compared to the CCR average of $2,447 psf, MONARCHY APARTMENTS trades 49% below the segment benchmark.
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Rental Market Overview
MONARCHY APARTMENTS has recorded 39 rental transactions with monthly rents averaging $4,406/mo.
| Type | Leases | Avg Rent | Min | Max |
|---|---|---|---|---|
| 3 BR | 39 | $4,406/mo | $3,000/mo | $5,600/mo |
| Year | Leases | Avg Rent |
|---|---|---|
| 2021 | 11 | $3,373/mo |
| 2022 | 7 | $4,429/mo |
| 2023 | 10 | $5,010/mo |
| 2024 | 5 | $4,840/mo |
| 2025 | 5 | $4,790/mo |
| 2026 | 1 | $5,500/mo |
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Investment Analysis
Based on average rents and sale prices, MONARCHY APARTMENTS delivers an estimated gross rental yield of 3.5%. This is above the Singapore-wide benchmark of approximately 3%.
Competing Condos in District 11
Side-by-side comparison against the most actively traded condos in District 11 (Watten Estate, Novena, Thomson):
| Condo | Tenure | Units | Avg PSF | Sales |
|---|---|---|---|---|
| PULLMAN RESIDENCES NEWTON | Freehold | 340 | $3,074 psf | 288 |
| WATTEN HOUSE | Freehold | 180 | $3,236 psf | 179 |
| SOLEIL @ SINARAN | 99 yrs lease commencing from 2006 | 417 | $1,970 psf | 92 |
| PEAK RESIDENCE | Freehold | 90 | $2,489 psf | 90 |
| AMARYLLIS VILLE | 99 yrs lease commencing from 1997 | 311 | $1,903 psf | 72 |
Location Map
Map shows MONARCHY APARTMENTS (centre marker) with nearby MRT stations and schools. Drag to pan, scroll to zoom.
- MONARCHY APARTMENTS
- Novena MRT
- Toa Payoh MRT
- Boon Keng MRT
- Farrer Park MRT
- CHIJ Our Lady Queen of Peace
- Beatty Secondary School
- School of Science and Technology
Nearby MRT Stations
MONARCHY APARTMENTS is 850m from Novena MRT (North-South Line), with 4 stations within 1.5 km.
| Station | Code | Line | Distance |
|---|---|---|---|
| Novena | NS20 | North-South Line | 850m |
| Toa Payoh | NS19 | North-South Line | 940m |
| Boon Keng | NE9 | North-East Line | 1.4 km |
| Farrer Park | NE8 | North-East Line | 1.5 km |
Nearby Schools
There are 24 schools within 2 km of MONARCHY APARTMENTS, including 4 within the 1 km priority zone.
| School | Type | Distance |
|---|---|---|
| CHIJ Our Lady Queen of Peace | Primary | 680m |
| Beatty Secondary School | Secondary | 740m |
| School of Science and Technology | Jc | 900m |
| CHIJ Secondary (Toa Payoh) | Secondary | 910m |
| Balestier Hill Primary School | Primary | 1.2 km |
| New Town Primary School | Primary | 1.4 km |
| Farrer Park Primary School | Primary | 1.5 km |
| St. Margaret's Secondary School | Secondary | 1.5 km |
| Bendemeer Primary School | Primary | 1.5 km |
| St. Margaret's Primary School | Primary | 1.5 km |
| Pei Chun Public School | Primary | 1.5 km |
| St. Joseph's Institution | Secondary | 1.5 km |
Tenure resilience. Freehold tenure removes the lease-decay headwind that affects 99-year leasehold stock from ~year 60 onward. CPF eligibility, loan-tenure caps, and resale buyer pool are all preserved without the time-decay clock. For long holds (15+ years), this matters meaningfully more than headline PSF.
Boutique character. With 39 units, MONARCHY APARTMENTS 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. CHIJ Our Lady Queen of Peace sits about 0.68km away, with additional schools clustered nearby. Family households on 24-month tenancies anchor the rental pool, which materially improves vacancy economics for landlord-owners.
Moderate MRT walk. At 0.85km from the nearest station, the project sits just outside the 800m comfort threshold. Rental tenants notice — yield typically trails truly walkable comparables by 30-50bps in similar segments.
Thin transaction history. With only 3 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.
[
{
"persona": "Young couple, first home",
"fit_color": "green",
"reason": "Long balance lease + likely sub-CCR pricing"
},
{
"persona": "Family with school-age kids",
"fit_color": "green",
"reason": "Nearby schools support MOE registration priority"
},
{
"persona": "CBD commuter",
"fit_color": "amber",
"reason": "Bus or own-vehicle commute likely required"
},
{
"persona": "Rental investor (yield-focused)",
"fit_color": "red",
"reason": "Thin transaction history makes underwriting fragile"
},
{
"persona": "Foreign professional (expat)",
"fit_color": "amber",
"reason": "Verify tenant-pool depth in immediate catchment"
},
{
"persona": "Long-term hold (10+ yr)",
"fit_color": "green",
"reason": "Tenure supports CPF + buyer-pool through hold"
}
]
Composite assessment: MONARCHY APARTMENTS sits in an off-MRT-spine pocket where own-vehicle commuting and a narrower tenant pool define the economics. Suits owner-occupiers who prioritise the specific neighbourhood and lifestyle fit over capital-market efficiency. 3 transactions in URA REALIS provide the data foundation for this view.
Suggested holding period for most buyer profiles: 7-12 years with realistic vacancy and re-let cost assumptions. 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 MONARCHY APARTMENTS?
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Is MONARCHY APARTMENTS freehold or leasehold?
How far is the nearest MRT from MONARCHY APARTMENTS?
What is the tenure of MONARCHY APARTMENTS?
How does MONARCHY APARTMENTS compare to other projects in the district?
What stamp duty applies for a foreign buyer of MONARCHY APARTMENTS?
Methodology & Sources
This analysis covers All available years and refreshes as new data becomes available.
Transaction data sourced from URA REALIS.
- Sales data: 3 transactions analysed
- Rental data: 39 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 MONARCHY APARTMENTS
Access the full interactive dashboard with real-time sales trends, rental yields, and investment calculators.