PENANG SERVICE APARTMENTS is a freehold development along LORONG 34 GEYLANG in District 14 (Geylang / Eunos), part of the RCR segment of Singapore's private residential market. The project comprises a compact unit count and is an established secondary-market project.
This profile draws on 6 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 14 (Geylang / Eunos), the immediate context for PENANG SERVICE 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 6 sales and 24 rental transaction records for this property. Explore live charts, price trends, rental yields, and investment analytics on the PENANG SERVICE APARTMENTS dashboard.
- Average sale price: $1,206,573 across 6 transactions
- Estimated gross rental yield: 3.6%
- District 14 PSF ranking: Value tier (top 78%)
- Freehold tenure · RCR · D14
About PENANG SERVICE APARTMENTS
PENANG SERVICE APARTMENTS is a freehold condominium, located at LORONG 34 GEYLANG in District 14 (Geylang, Eunos) (Rest of Central Region).
As a freehold property, PENANG SERVICE APARTMENTS does not face lease decay concerns.
Sales Market Overview
PENANG SERVICE APARTMENTS has recorded 6 sale transactions with an average transaction price of $1,206,573, ranging from $1,003,888 to $1,318,888.
| Year | Sales | Avg PSF | Avg Price | YoY |
|---|---|---|---|---|
| 2021 | 1 | $992 psf | $1,003,888 | — |
| 2022 | 1 | $1,025 psf | $1,180,888 | ↑ 3.3% |
| 2023 | 1 | $1,184 psf | $1,198,000 | ↑ 15.5% |
| 2024 | 2 | $1,136 psf | $1,308,888 | ↓ 4.0% |
| 2025 | 1 | $1,224 psf | $1,238,888 | ↑ 7.7% |
PENANG SERVICE APARTMENTS ranks in the top 78% of condos in District 14 by average PSF.
Compared to the RCR average of $2,047 psf, PENANG SERVICE APARTMENTS trades 45.4% below the segment benchmark.
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Rental Market Overview
PENANG SERVICE APARTMENTS has recorded 24 rental transactions with monthly rents averaging $3,658/mo.
| Type | Leases | Avg Rent | Min | Max |
|---|---|---|---|---|
| Studio | 24 | $3,658/mo | $2,100/mo | $4,900/mo |
| Year | Leases | Avg Rent |
|---|---|---|
| 2021 | 5 | $2,770/mo |
| 2022 | 5 | $2,880/mo |
| 2023 | 5 | $4,160/mo |
| 2024 | 4 | $3,875/mo |
| 2025 | 5 | $4,650/mo |
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Investment Analysis
Based on average rents and sale prices, PENANG SERVICE APARTMENTS delivers an estimated gross rental yield of 3.6%. This is above the Singapore-wide benchmark of approximately 3%.
Competing Condos in District 14
Side-by-side comparison against the most actively traded condos in District 14 (Geylang, Eunos):
| Condo | Tenure | Units | Avg PSF | Sales |
|---|---|---|---|---|
| PARC ESTA | 99 yrs lease commencing from 2018 | 1399 | $2,184 psf | 477 |
| SIMS URBAN OASIS | 99 yrs lease commencing from 2014 | 1024 | $1,762 psf | 365 |
| PENROSE | 99 yrs lease commencing from 2019 | 566 | $1,928 psf | 352 |
| EUHABITAT | 99 yrs lease commencing from 2010 | 697 | $1,326 psf | 233 |
| THE ANTARES | 99 yrs lease commencing from 2018 | 265 | $1,833 psf | 227 |
Location Map
Map shows PENANG SERVICE APARTMENTS (centre marker) with nearby MRT stations and schools. Drag to pan, scroll to zoom.
- PENANG SERVICE APARTMENTS
- Dakota MRT
- Aljunied MRT
- Paya Lebar MRT
- Paya Lebar MRT
- Mountbatten MRT
- Geylang Methodist School (Secondary)
- Geylang Methodist School (Primary)
- Kong Hwa School
Nearby MRT Stations
PENANG SERVICE APARTMENTS is 570m from Dakota MRT (Circle Line), with 8 stations within 1.5 km.
| Station | Code | Line | Distance |
|---|---|---|---|
| Dakota | CC8 | Circle Line | 570m |
| Aljunied | EW9 | East-West Line | 620m |
| Paya Lebar | EW8 | East-West Line | 780m |
| Paya Lebar | CC9 | Circle Line | 780m |
| Mountbatten | CC7 | Circle Line | 990m |
| Tanjong Katong | TE25 | Thomson-East Coast Line | 1.2 km |
| MacPherson | CC10 | Circle Line | 1.5 km |
| MacPherson | DT26 | Downtown Line | 1.5 km |
Nearby Schools
There are 15 schools within 2 km of PENANG SERVICE APARTMENTS, including 5 within the 1 km priority zone.
| School | Type | Distance |
|---|---|---|
| Geylang Methodist School (Secondary) | Secondary | 100m |
| Geylang Methodist School (Primary) | Primary | 200m |
| Kong Hwa School | Primary | 340m |
| One World International School (Mountbatten) | International | 730m |
| Haig Girls' School | Primary | 950m |
| Tanjong Katong Primary School | Primary | 1.3 km |
| Tao Nan School | Primary | 1.4 km |
| Macpherson Primary School | Primary | 1.5 km |
| Broadrick Secondary School | Secondary | 1.5 km |
| EtonHouse International School (Broadrick) | International | 1.5 km |
| Tanjong Katong Girls' School | Secondary | 1.6 km |
| Canossa Catholic Primary School | Primary | 1.6 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.
Walking-distance MRT. Dakota is about 0.57km — 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.
School-belt proximity. Geylang Methodist School (Secondary) sits about 0.10km away, with additional schools clustered nearby. Family households on 24-month tenancies anchor the rental pool, which materially improves vacancy economics for landlord-owners.
Thin transaction history. With only 6 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": "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": "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": "green",
"reason": "MRT plus mid-size facility suite typically meets expat-tenant criteria"
},
{
"persona": "Long-term hold (10+ yr)",
"fit_color": "green",
"reason": "Tenure supports CPF + buyer-pool through hold"
}
]
Composite assessment: PENANG SERVICE APARTMENTS combines walking-distance MRT with long-tenure leasehold (or freehold) — a solid structural foundation. The district position dictates whether capital appreciation outpaces or tracks the broader market. 6 transactions in URA REALIS provide the data foundation for this view.
Suggested holding period for most buyer profiles: 6-10 years to ride out one full macro cycle. 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 PENANG SERVICE APARTMENTS?
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Is PENANG SERVICE APARTMENTS freehold or leasehold?
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What is the tenure of PENANG SERVICE APARTMENTS?
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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: 6 transactions analysed
- Rental data: 24 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 PENANG SERVICE APARTMENTS
Access the full interactive dashboard with real-time sales trends, rental yields, and investment calculators.