Perfect Ten stands as one of District 10’s most coveted freehold addresses, rising 24 storeys above Bukit Timah Road in a neighbourhood synonymous with old-money prestige and blue-chip investment returns. Developed by Japura Development — a wholly-owned vehicle of Hong Kong conglomerate CK Asset Holdings, founded by billionaire Li Ka-Shing — the 230-unit boutique tower secured its Temporary Occupation Permit in 2025, bringing a long-anticipated luxury project to fruition. With 97% of its 230 units sold and transaction prices climbing to a recorded high of S$3,670 per square foot (psf) on EdgeProp’s caveat database, Perfect Ten has cemented itself as a genuine price-discovery project for the Core Central Region (CCR). This editorial examines the development’s location fundamentals, design pedigree, investment proposition, and the buyer profiles most likely to extract long-term value from ownership here.
Snapshot as of 2026-05 — figures above reflect publicly available URA/HDB data at the time of this editorial review (as of 2026-05).
The land on which Perfect Ten now stands was previously occupied by City Towers, a 1970s-era privatised HUDC estate that achieved a landmark collective sale in August 2019 for S$401.9 million — equivalent to S$1,847 psf per plot ratio (ppr). Japura outbid competitors by a 13% premium over the owners’ S$355 million reserve price, underscoring CK Asset’s conviction in Singapore’s prime residential market at a time when en-bloc fever was cooling. The site sits at 321–323 Bukit Timah Road, placing it squarely within District 10 — the same postal district that encompasses Nassim Road, Ardmore Park, and the Good Class Bungalow (GCB) belts of Nassim and Swiss Club. In Singapore’s residential hierarchy, District 10 is consistently ranked among the top three most sought-after districts for ultra-high-net-worth (UHNW) buyers, expatriate professionals, and institutional investors.
The macro backdrop at launch was demanding: Singapore had just tightened Additional Buyer’s Stamp Duty (ABSD) for foreigners to 60% (as of April 2023), effectively repricing the CCR for foreign demand. Yet Perfect Ten’s absorption rate of 97% demonstrates that Singaporean owner-occupiers and permanent residents (PRs) continued to underpin demand for well-located freehold stock. According to URA caveat data collated by market observers, the project saw an average transaction price of approximately S$3,044 psf across 223 caveats lodged, with more recent secondary-market deals crossing S$3,300–S$3,400 psf — a meaningful uplift from early-launch pricing and a validation of the freehold premium in this submarket.
We track 234 sales and 24 rental transaction records for this property. Explore live charts, price trends, rental yields, and investment analytics on the PERFECT TEN dashboard.
- Average sale price: $2,972,751 across 234 transactions
- Estimated gross rental yield: 2.8%
- District 10 PSF ranking: Premium tier (top 9%)
- Freehold tenure · CCR · D10 · 230 units
About PERFECT TEN
PERFECT TEN is a freehold condominium, located at BUKIT TIMAH ROAD in District 10 (Ardmore, Bukit Timah, Holland Road, Tanglin) (Core Central Region), comprising 230 residential units, completed in 2021.
As a freehold property, PERFECT TEN does not face lease decay concerns.
Unit Mix Distribution
Transaction data breakdown by bedroom type at PERFECT TEN:
| Type | Sales | Avg PSF | Avg Price |
|---|---|---|---|
| 2 BR | 139 | $3,058 psf | $2,378,322 |
| 3 BR | 95 | $3,063 psf | $3,842,495 |
Sales Market Overview
PERFECT TEN has recorded 234 sale transactions with an average transaction price of $2,972,751, ranging from $2,081,200 to $4,581,280.
| Year | Sales | Avg PSF | Avg Price | YoY |
|---|---|---|---|---|
| 2021 | 11 | $3,269 psf | $3,061,058 | — |
| 2022 | 165 | $2,969 psf | $2,955,874 | ↓ 9.2% |
| 2023 | 49 | $3,259 psf | $2,935,748 | ↑ 9.8% |
| 2024 | 5 | $3,476 psf | $3,060,656 | ↑ 6.7% |
| 2025 | 1 | $3,318 psf | $4,250,000 | ↓ 4.6% |
| 2026 | 3 | $3,247 psf | $3,609,333 | ↓ 2.1% |
PERFECT TEN ranks in the top 9% of condos in District 10 by average PSF.
Compared to the CCR average of $2,447 psf, PERFECT TEN trades 25% above the segment benchmark.
Loading chart data...
Rental Market Overview
PERFECT TEN has recorded 24 rental transactions with monthly rents averaging $6,973/mo.
| Type | Leases | Avg Rent | Min | Max |
|---|---|---|---|---|
| Studio | 8 | $6,575/mo | $5,200/mo | $9,300/mo |
| 2 BR | 10 | $5,790/mo | $5,000/mo | $7,000/mo |
| 3 BR | 6 | $9,475/mo | $9,300/mo | $9,700/mo |
| Year | Leases | Avg Rent |
|---|---|---|
| 2025 | 1 | $5,800/mo |
| 2026 | 23 | $7,024/mo |
Loading chart data...
Investment Analysis
Based on average rents and sale prices, PERFECT TEN delivers an estimated gross rental yield of 2.8%. This is below the 3% benchmark, suggesting stronger capital appreciation potential.
Competing Condos in District 10
Side-by-side comparison against the most actively traded condos in District 10 (Ardmore, Bukit Timah, Holland Road, Tanglin):
| Condo | Tenure | Units | Avg PSF | Sales |
|---|---|---|---|---|
| SKYE AT HOLLAND | 99 yrs lease commencing from 2024 | 666 | $2,946 psf | 666 |
| LEEDON GREEN | Freehold | 638 | $2,785 psf | 570 |
| D'LEEDON | 99 yrs lease commencing from 2010 | 1703 | $1,858 psf | 433 |
| HYLL ON HOLLAND | Freehold | 319 | $2,648 psf | 327 |
| FOURTH AVENUE RESIDENCES | 99 yrs lease commencing from 2018 | 476 | $2,465 psf | 296 |
Location Map
Map shows PERFECT TEN (centre marker) with nearby MRT stations and schools. Drag to pan, scroll to zoom.
- PERFECT TEN
- Newton MRT
- Newton MRT
- Stevens MRT
- Stevens MRT
- Mount Pleasant MRT
- Anglo-Chinese School (Primary)
- Singapore Chinese Girls'
- St. Joseph'
Nearby MRT Stations
PERFECT TEN is 730m from Newton MRT (North-South Line), with 8 stations within 1.5 km.
| Station | Code | Line | Distance |
|---|---|---|---|
| Newton | NS21 | North-South Line | 730m |
| Newton | DT11 | Downtown Line | 730m |
| Stevens | DT10 | Downtown Line | 790m |
| Stevens | TE11 | Thomson-East Coast Line | 790m |
| Mount Pleasant | TE10 | Thomson-East Coast Line | 1.2 km |
| Novena | NS20 | North-South Line | 1.3 km |
| Orchard | NS22 | North-South Line | 1.4 km |
| Orchard | TE14 | Thomson-East Coast Line | 1.4 km |
Nearby Schools
There are 16 schools within 2 km of PERFECT TEN, including 6 within the 1 km priority zone.
| School | Type | Distance |
|---|---|---|
| Anglo-Chinese School (Primary) | Primary | 360m |
| Singapore Chinese Girls' School (Primary) | Primary | 430m |
| St. Joseph's Institution | Secondary | 870m |
| ISS International School (Preston) | International | 920m |
| St. Anthony's Primary School | Primary | 970m |
| ISS International School (Paterson) | International | 990m |
| St. Margaret's Primary School | Primary | 1.3 km |
| Chatsworth International School (Orchard) | International | 1.4 km |
| St. Margaret's Secondary School | Secondary | 1.4 km |
| Nanyang Girls' High School | Secondary | 1.4 km |
| Nanyang Primary School | Primary | 1.4 km |
| New Town Primary School | Primary | 1.5 km |
Perfect Ten’s investment case rests on four interlocking pillars that are difficult to replicate in Singapore’s current land-scarce environment.
Freehold tenure in a leasehold-dominated supply pipeline. The vast majority of new launches across Singapore over the past decade have been 99-year leasehold sites. Freehold land in District 10 — where GCB zoning restricts high-density development — is structurally scarce. A freehold strata title means there is no lease decay risk eroding your asset’s value as it ages, a factor that becomes increasingly material for buyers planning generational wealth transfer or those with a 15–20-year investment horizon.
Dual MRT interchange access within walking distance. Perfect Ten is positioned between Newton MRT (North-South Line & Downtown Line) and Stevens MRT (Downtown Line & Thomson-East Coast Line). Having two MRT interchanges within a short walk is exceptionally rare in the CCR and provides seamless connectivity to the Central Business District (Raffles Place is two stops on the DTL), Orchard Road shopping belt (one stop on the NSL), and Changi Airport via the TEL at Stevens. For expatriate tenants — the primary rental pool in D10 — this connectivity commands a rental premium and shortens vacancy periods.
Boutique scale amplifies exclusivity and management efficiency. At 230 units across twin 24-storey towers, Perfect Ten sits in the sweet spot between viability (sufficient units to fund robust facilities maintenance) and exclusivity (low-density living feel that genuine luxury buyers expect). The development avoids the management-committee politics and facilities-dilution common in mega-developments of 500–1,000 units. DP Architects, the design firm behind the project, incorporated 3.225-metre ceiling heights — a specification typically reserved for GCB bungalows — and full-height glass facades that amplify spatial perception in units ranging from 753 sq ft (2-bedroom) to 1,281 sq ft (3-bedroom).
CK Asset Holdings pedigree and rental market depth. Japura Development’s parent company has a track record of award-winning Singapore completions including Stars of Kovan, Thomson Grand, and Cairnhill Crest. CK Asset’s project delivery standards are internationally recognised, reducing completion and defect risk concerns that affect some smaller developers. On the rental side, Bukit Timah Road’s proximity to international schools (Anglo-Chinese School (Primary) is within 1 km, Singapore Chinese Girls’ School and Raffles Girls’ Primary within 2 km), the Singapore Botanic Gardens, and Orchard Road lifestyle amenities generates consistent demand from corporate-housed expatriates and diplomat tenants who prioritise D10 addresses.
No investment is without risk, and Perfect Ten buyers should weigh the following considerations carefully before committing.
Entry price point and CCR compression risk. With headline PSF in the S$3,300–S$3,700 range for resale and remaining developer units (where available), the absolute entry quantum for a 2-bedroom unit sits at S$2.5–S$2.9 million and rises to S$4–S$5 million for 3-bedroom layouts. At these levels, capital appreciation requires the entire CCR benchmark to move upward — micro-outperformance becomes harder to sustain once a project is fully sold. Buyers reliant on capital gains within a 5-year horizon face meaningful timing risk if the CCR cycle enters a consolidation phase, particularly given the weight of ABSD on foreign buyer demand that has historically driven CCR premiums.
Small unit quantum versus rental yield. The 2-bedroom units at 753–797 sq ft are well-sized for their price band but remain compact relative to the S$2.5 million+ entry. Achievable monthly rents for comparable 2-bedroom freehold D10 units typically range from S$5,500–S$7,500 (as of mid-2025), implying gross rental yields of approximately 2.5%–3.2% — below the Singapore 10-year government bond yield. Yield-focused investors must therefore rely heavily on capital appreciation rather than income, introducing concentration risk if the prime market plateaus.
ABSD headwind for upgraders using CPF. Singaporean households already owning a property face 20% ABSD on a second residential purchase. For a S$2.5 million unit, that’s an additional S$500,000 in stamp duty, which substantially erodes the investment return unless the property is held for a decade or more. Buyers should use a Stamp Duty Calculator and model their total cost of ownership carefully before committing.
Interest rate sensitivity on quantum borrowing. Financing a S$2.5–S$4.5 million property at 75% LTV (maximum for first residential property) means a loan of S$1.875–S$3.375 million. A 1% increase in mortgage rates translates to S$1,875–S$3,375 per month in additional debt service. Prospective buyers should stress-test their TDSR at rates 150–200 basis points above current market rates and ensure they retain adequate liquidity reserves.
[
{
"persona": "Singaporean UHNW owner-occupier upgrading from a HDB or 99-year leasehold condo",
"fit_color": "green",
"reason": "Perfect Ten delivers the freehold tenure, D10 address prestige, and boutique-luxury finish that typically tops the wish list of affluent Singaporean families looking to park generational wealth in a non-depreciating asset. The 3.225m ceiling heights, full-glass facades, and proximity to elite primary schools within 1 km make this the right product for families with school-going children."
},
{
"persona": "Expatriate corporate professional (financial services, tech, law) on a long-term work pass",
"fit_color": "green",
"reason": "Newton and Stevens MRT interchanges place the CBD and Marina Bay financial district within a 7–10-minute commute. International schools within 2 km, proximity to Orchard Road, and the premium rental market means expat tenants also drive robust demand. Owner-occupiers in this profile benefit from both lifestyle convenience and a liquid resale market dominated by similar demand demographics."
},
{
"persona": "Singapore PR or second-generation overseas Singaporean seeking a safe-harbour asset",
"fit_color": "green",
"reason": "Freehold D10 property is the closest Singapore equivalent to a wealth-preservation vehicle. For a PR paying 5% ABSD on a first purchase, the additional acquisition cost is manageable relative to the long-term capital preservation case. The project’s 97% take-up and price appreciation from launch PSF to current resale PSF validate the thesis that CCR freehold assets hold value through cycles."
},
{
"persona": "Yield-oriented investor seeking rental income",
"fit_color": "yellow",
"reason": "Gross rental yields of approximately 2.5%–3.2% fall below Singapore government bond rates. Investors who need income yield will find better risk-adjusted options in D15 or D19 developments. Perfect Ten rewards patient capital appreciation holders rather than income-focused buyers."
},
{
"persona": "Foreign buyer (non-PR) subject to 60% ABSD",
"fit_color": "red",
"reason": "At S$2.5 million entry, a foreign buyer faces S$1.5 million in ABSD alone — effectively doubling the acquisition cost. Unless the buyer has a strong USD/EUR/HKD income hedge and a very long hold period, the stamp duty drag makes the investment case extremely challenging. Singapore’s post-2023 ABSD regime has materially altered the foreign-buyer equation in the CCR."
}
]
Perfect Ten earns its premium positioning. For the right buyer profile — specifically Singaporean citizens and PRs with a first or second residential property, a long investment horizon, and genuine D10 lifestyle aspirations — this is a structurally scarce asset: freehold, boutique scale, dual-interchange MRT access, CCR pedigree, and blue-chip developer behind it. The 97% sales take-up and caveat-backed appreciation from launch average to the S$3,670 psf high recorded by EdgeProp indicate that the market has consistently validated the pricing rather than questioned it.
The caution flags are equally real. Entry quanta above S$2.5 million, compressed gross yields below 3.2%, ABSD exposure for multi-property buyers, and the cyclical sensitivity of the CCR to macroeconomic shocks mean Perfect Ten is categorically a wealth-preservation and lifestyle play — not a leveraged yield trade. Buyers should model scenarios using a Mortgage Calculator, Affordability Calculator, and a full Return on Investment Calculator before committing. When the numbers align and the buyer profile fits, Perfect Ten offers a rarely-available combination of location quality and tenure permanence that D10’s tight supply pipeline is unlikely to replicate in the near term.
FAQ
What is the average price for PERFECT TEN?
What is the rental yield for PERFECT TEN?
Is PERFECT TEN freehold or leasehold?
How close is Perfect Ten to MRT stations and which lines are accessible?
Perfect Ten on Bukit Timah Road sits within walking distance of two MRT interchange stations. Newton MRT (approximately 650–800 metres) serves the North-South Line (NSL) and Downtown Line (DTL), providing direct access to Orchard Road (one stop on NSL) and the Central Business District at Raffles Place (two stops on DTL). Stevens MRT (approximately 750–900 metres) serves the Downtown Line and the Thomson-East Coast Line (TEL), offering a direct route to Marina Bay, the CBD expansion, and onward to Changi Airport. Having dual-interchange access within a single walking radius is a connectivity advantage that only a handful of District 10 addresses can claim.
What schools are within 1 km of Perfect Ten?
Anglo-Chinese School (Primary) — one of Singapore’s most sought-after primary schools — is located within 1 km of Perfect Ten, which is a key consideration for Singaporean families who use the Home-School Distance Criterion for Primary 1 registration. Singapore Chinese Girls’ School and Raffles Girls’ Primary are within approximately 2 km. For expatriate families, a number of international schools (including those offering IB curricula) are accessible within a 10–15-minute drive along the Bukit Timah corridor. School proximity in District 10 is a perennial driver of rental demand from corporate-housed expatriates, supporting rental pricing resilience even in softer market conditions.
What has happened to Perfect Ten’s transaction prices since launch?
Perfect Ten launched at prices that implied an average of approximately S$3,044 psf based on the 223 caveats lodged through the main sales campaign. Subsequent transactions recorded on EdgeProp’s caveat database show the project reaching a new high of S$3,670 psf, with resale transactions in 2024–2025 typically transacting in the S$3,300–S$3,500 psf range. A transaction in April 2025 was recorded at approximately S$3,318 psf (S$4.25 million total). This trajectory — from a launch average of ~S$3,044 psf to a high of S$3,670 psf — represents meaningful appreciation for early buyers, though prospective purchasers entering today are buying at a materially higher base price. As with all CCR properties, future appreciation will depend on macroeconomic conditions, ABSD policy, and the availability of comparable freehold supply in the same submarket.
Who is the developer of Perfect Ten and what other Singapore projects have they built?
Perfect Ten is developed by Japura Development Pte Ltd, a special-purpose vehicle that is wholly owned by CK Asset Holdings Limited — the Hong Kong-listed property and infrastructure conglomerate founded by Li Ka-Shing. CK Asset’s Singapore residential portfolio includes Stars of Kovan, Thomson Grand, and Cairnhill Crest. The group’s development track record in Singapore spans over two decades, and its projects have been recognised for design quality, construction standards, and reliable project delivery. For buyers sensitive to developer reputation — particularly given some high-profile construction delays and defect cases in Singapore’s recent new-launch market — CK Asset’s institutional-grade balance sheet and project management experience are meaningful de-risking factors.
What are the unit types and sizes available at Perfect Ten?
Perfect Ten offers an exclusively 2-bedroom and 3-bedroom unit mix across its 230 homes, with no studio or 1-bedroom configurations. Standard 2-bedroom units range from 753 to 797 sq ft, while standard 3-bedroom units range from 1,227 to 1,281 sq ft. The development also includes premium Penthouse (PH) variants for both 2-bedroom and 3-bedroom layouts, offering elevated ceiling heights, enhanced privacy, and typically more generous private outdoor spaces. With 24 unique floor plan variants in total, the product is highly curated and avoids the generic stack-repeat layouts common in mass-market developments. The absence of small-format units is a deliberate positioning choice that maintains the development’s appeal to genuine owner-occupiers and long-term investors rather than speculative short-let buyers.
Methodology & Sources
This analysis covers All available years and refreshes as new data becomes available.
Transaction data sourced from URA REALIS.
- Sales data: 234 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 PERFECT TEN
Access the full interactive dashboard with real-time sales trends, rental yields, and investment calculators.