Terrasse is a 414-unit, 99-year leasehold condominium in District 19 developed by MCL Land (Serangoon) Pte Ltd, sitting on a generous 30,195 sq m site along Terrasse Lane in the mature Hougang estate. The project obtained its Temporary Occupation Permit in 2015 and the lease runs from 2010, giving current buyers roughly 84 years of remaining tenure — comfortably within the CPF and bank-financing thresholds that govern most Singaporean purchase decisions. With a land cost at launch of approximately S$965 per square foot per plot ratio, MCL Land built a mid-scale development with a resort-inspired layout: a 50-metre lap pool anchored by jacuzzi pods, an Arcadia Clubhouse, tennis and multi-purpose courts, and a network of themed gardens that break up the ground plane between the low- to mid-rise blocks. Resale prices tracked by SRX place the recent 12-month average at around S$1,553 psf, with the highest recorded transaction touching S$1,837 psf in February 2025 for a larger 1,335 sq ft unit. Rental yield sits at approximately 3.2 per cent, which is in line with the broader Outside Central Region (OCR) leasehold market. For buyers seeking a large-land, established-estate condo at a price point well below the Core Central Region, Terrasse presents a distinctive proposition — one that deserves careful scrutiny of both its tangible strengths and its structural constraints.
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 19 spans the Hougang, Serangoon, Punggol and Sengkang corridors and has long been one of Singapore's most resilient OCR investment districts. According to Property Lim Brothers' July 2025 D19 Market Report, median resale PSF for non-landed private residential in D19 reached S$1,736 in 2025, reflecting 3.4 per cent year-on-year growth from 2024 and a cumulative five-year appreciation of approximately 40 per cent from the S$1,239 median recorded in 2020. This strong base is underpinned by three structural factors: proximity to two Mass Rapid Transit interchanges, a dense network of established schools that sustains consistent owner-occupier demand, and a relative absence of new supply on the Hougang side of the district where Terrasse sits.
Terrasse's address on Terrasse Lane places it roughly equidistant between Kovan MRT (North East Line, NE13) and the Serangoon interchange (NE12/CC13), where the North East Line and Circle Line converge. Serangoon interchange is one of only a handful of multi-line nodes in the entire MRT network, connecting residents to Orchard Road (roughly 25 minutes by train), the Central Business District, and Changi Airport with a single transfer or none at all. A free resident shuttle bus to Serangoon MRT was part of the original estate management arrangement, softening the roughly 15-minute walk to the interchange for those disinclined to cycle or drive. The Serangoon North MRT station on the new Cross Island Line (CR9), expected to open in phases from 2030, will add a third rail option within walking distance, further enhancing the connectivity premium that has historically supported pricing in this pocket.
The URA's publicly available transaction data confirms 120 recorded resale caveat lodgements for Terrasse since TOP, a healthy secondary-market turnover rate for a project of this size. Current listing prices on the major portals span roughly S$880,000 for a smaller one-bedroom unit to S$2.7 million for larger four-bedroom configurations, reflecting the wide unit-mix spread — a deliberate developer choice to attract both small households and multi-generational families. The S$880k entry ticket is notable: it places Terrasse within reach of HDB upgraders from the surrounding Hougang and Serangoon estates, who represent the most price-sensitive and volume-driving segment of the OCR buyer pool.
We track 121 sales and 359 rental transaction records for this property. Explore live charts, price trends, rental yields, and investment analytics on the TERRASSE dashboard.
- Average sale price: $1,471,522 across 121 transactions
- Estimated gross rental yield: 3.0%
- District 19 PSF ranking: Mid-range (top 55%)
- 99 yrs lease commencing from 2010 · OCR · D19 · 414 units
About TERRASSE
TERRASSE is a 99 yrs lease commencing from 2010 condominium, located at TERRASSE LANE in District 19 (Punggol, Hougang, Serangoon Gardens) (Outside Central Region), developed by MCL LAND (SERANGOON) PTE LTD, comprising 414 residential units, completed in 2015.
With approximately 83 years remaining on its 99-year lease, the property qualifies for full bank financing and CPF usage.
Unit Mix Distribution
Transaction data breakdown by bedroom type at TERRASSE:
| Type | Sales | Avg PSF | Avg Price |
|---|---|---|---|
| 1 BR | 14 | $1,367 psf | $763,841 |
| 2 BR | 38 | $1,330 psf | $1,077,502 |
| 3 BR | 39 | $1,386 psf | $1,497,863 |
| 4 BR | 20 | $1,363 psf | $2,175,794 |
| 5+ BR | 10 | $1,006 psf | $2,448,280 |
Sales Market Overview
TERRASSE has recorded 121 sale transactions with an average transaction price of $1,471,522, ranging from $645,000 to $2,880,000.
| Year | Sales | Avg PSF | Avg Price | YoY |
|---|---|---|---|---|
| 2021 | 26 | $1,147 psf | $1,281,296 | — |
| 2022 | 31 | $1,235 psf | $1,272,202 | ↑ 7.7% |
| 2023 | 15 | $1,334 psf | $1,451,593 | ↑ 8.0% |
| 2024 | 21 | $1,396 psf | $1,550,223 | ↑ 4.7% |
| 2025 | 19 | $1,569 psf | $1,740,515 | ↑ 12.4% |
| 2026 | 9 | $1,536 psf | $1,989,321 | ↓ 2.1% |
TERRASSE ranks in the top 55% of condos in District 19 by average PSF.
Compared to the OCR average of $1,550 psf, TERRASSE trades 14.1% below the segment benchmark.
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Rental Market Overview
TERRASSE has recorded 359 rental transactions with monthly rents averaging $3,641/mo.
| Type | Leases | Avg Rent | Min | Max |
|---|---|---|---|---|
| 1 BR | 61 | $2,467/mo | $1,800/mo | $3,200/mo |
| 2 BR | 186 | $3,212/mo | $2,000/mo | $5,300/mo |
| 3 BR | 79 | $4,315/mo | $2,650/mo | $6,500/mo |
| 4 BR | 25 | $6,256/mo | $3,950/mo | $7,800/mo |
| 5+ BR | 8 | $7,708/mo | $5,000/mo | $9,660/mo |
| Year | Leases | Avg Rent |
|---|---|---|
| 2021 | 67 | $2,893/mo |
| 2022 | 78 | $3,613/mo |
| 2023 | 59 | $3,931/mo |
| 2024 | 73 | $3,857/mo |
| 2025 | 67 | $3,898/mo |
| 2026 | 15 | $3,779/mo |
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Investment Analysis
Based on average rents and sale prices, TERRASSE delivers an estimated gross rental yield of 3.0%. This is below the 3% benchmark, suggesting stronger capital appreciation potential.
Competing Condos in District 19
Side-by-side comparison against the most actively traded condos in District 19 (Punggol, Hougang, Serangoon Gardens):
| Condo | Tenure | Units | Avg PSF | Sales |
|---|---|---|---|---|
| CHUAN PARK | 99 yrs lease commencing from 2024 | 916 | $2,596 psf | 868 |
| THE FLORENCE RESIDENCES | 99 yrs lease commencing from 2018 | 1410 | $1,746 psf | 849 |
| RIVERFRONT RESIDENCES | 99 yrs lease commencing from 2018 | 1451 | $1,590 psf | 629 |
| AFFINITY AT SERANGOON | 99 yrs lease commencing from 2018 | 1012 | $1,699 psf | 597 |
| SERANGOON GARDEN ESTATE | Freehold | — | $1,742 psf | 467 |
Location Map
Map shows TERRASSE (centre marker) with nearby MRT stations and schools. Drag to pan, scroll to zoom.
- TERRASSE
- Kovan MRT
- Rosyth School
- Yangzheng Primary School
- Xinghua Primary School
Nearby MRT Stations
TERRASSE is 1.3 km from Kovan MRT (North-East Line).
| Station | Code | Line | Distance |
|---|---|---|---|
| Kovan | NE13 | North-East Line | 1.3 km |
Nearby Schools
There are 21 schools within 2 km of TERRASSE, including 7 within the 1 km priority zone.
| School | Type | Distance |
|---|---|---|
| Rosyth School | Primary | 190m |
| Yangzheng Primary School | Primary | 380m |
| Xinghua Primary School | Primary | 480m |
| Townsville Primary School | Primary | 650m |
| Xinmin Secondary School | Secondary | 820m |
| Xinmin Primary School | Primary | 830m |
| Presbyterian High School | Secondary | 890m |
| Serangoon Secondary School | Secondary | 1.1 km |
| Serangoon Garden Secondary School | Secondary | 1.1 km |
| Holy Innocents' High School | Secondary | 1.1 km |
| Holy Innocents' Primary School | Primary | 1.2 km |
| Cedar Primary School | Primary | 1.4 km |
Terrasse's most durable advantage is its site scale and layout quality. At 30,195 square metres, the land parcel is nearly three times larger than the sub-10,000 sq m plots that proliferate among newer boutique launches in the same district. This translates into generous setbacks from neighbouring blocks, a 50-metre lap pool that functions as a genuine athletic amenity rather than a decorative feature, and a landscaping budget that produced named garden zones — the Serene Garden, Fern Valley, Palm Courtyard — that aged well and remain visually distinctive a decade after completion. Buyers comparing Terrasse against newer, denser OCR launches frequently cite the "breathing room" factor as a decisive differentiator.
The school catchment is a second concrete strength. Rosyth School, one of the most sought-after primary schools in Singapore under the Primary 1 Registration framework, sits within the 1-kilometre priority zone for Terrasse residents. Xinmin Primary and Secondary Schools and Serangoon Junior College complete an almost unbroken educational ladder from Primary 1 through to pre-university, all reachable without leaving the immediate neighbourhood. For families whose property decision is anchored to Phase 2B primary school registration, this single data point often ends the comparison exercise. International schooling options — Lycée Français de Singapour (the French school served by the estate's shuttle), Hillside World Academy, and DPS International School — extend the appeal to expatriate families, broadening the rental demand base.
Retail and dining access is similarly strong. The nex megamall at Serangoon interchange, one of the largest suburban malls in Singapore with over 400 retail and food and beverage outlets, is the anchor. Heartland Mall Kovan and myVillage at Serangoon Garden provide neighbourhood-scale alternatives. The Serangoon Gardens enclave — colloquially "the village" — offers a curated strip of independent cafés, restaurants and weekend market activity that commands a lifestyle premium in the minds of both owner-occupiers and the expatriate tenant community. These are not marginal amenities: they are category-defining assets for an OCR address that rival the walkable retail environments of more expensive Central Region districts. To model whether this location meets your own cost structure, the affordability calculator and total cost of ownership calculator are useful starting points.
The headline risk for any Terrasse buyer is lease decay, and it must be addressed directly. The 99-year lease commenced in 2010, meaning the property entered 2026 with approximately 84 years remaining. While 84 years sounds comfortable, the mathematics of leasehold depreciation are non-linear. Standard valuation theory — and the CPF Board's own housing usage framework — models leasehold value as declining at an accelerating rate as the lease shortens below 60 years. A buyer who purchases Terrasse today in their mid-thirties and holds for 30 years will find themselves trying to sell a property with roughly 54 years on the lease. At that tenure, bank financing is typically capped at 60 per cent of valuation (rather than the standard 75 per cent), CPF usage becomes restricted, and the pool of eligible buyers shrinks measurably. The lease decay calculator models exactly these scenarios; buyers are strongly encouraged to run projections for their intended holding period before committing.
The second risk is competitive supply pressure. The Cross Island Line's construction corridor has opened up large government land sale parcels across the D19 and adjacent D28 catchments. New launches in Hougang, Punggol, and Sengkang continue to offer fresh 99-year leases — a structural advantage over a project now more than a decade from TOP. Resale buyers at Terrasse are competing not only against other secondary-market listings but against brand-new projects with equivalent or lower entry PSFs and a longer residual lease clock. This is a systemic headwind for all 2010–2015 vintage OCR condos and is not unique to Terrasse, but it bears acknowledging.
Third, the project is car-dependent for some daily routines despite the MRT proximity. While Kovan MRT is the nearest station (approximately 10 to 12 minutes' walk), the route involves navigating residential roads without sheltered walkways for the full distance. The Serangoon interchange, more useful for CBD-bound commuters, is 15 minutes on foot. The free shuttle is a practical workaround but runs on fixed schedules. Buyers who commute daily to the CBD or Changi Business Park may find the total door-to-door journey time longer than marketed brochures suggest, particularly during morning peak hours when bus frequency on Hougang feeder services drops. The property comparison tool allows side-by-side assessment of Terrasse against closer-to-MRT alternatives in the same price band.
Finally, the 414-unit scale, while delivering the lifestyle land premium noted above, also means that resale supply at any given time is drawn from a relatively small pool. This cuts both ways: it can create illiquidity when multiple sellers list simultaneously (as occurred in 2022 when several large OCR projects saw double-digit concurrent listings), but it also means that a single motivated seller listing at a discount can set a new price floor that affects the entire block's valuation. Buyers relying on tight exit timelines should model worst-case liquidity scenarios in their financial planning.
- ✅ HDB Upgrader (Family with School-Age Children): Rosyth School's 1 km priority zone and the Xinmin educational cluster make Terrasse one of the strongest school-catchment buys in the OCR at this price point. A family upgrading from a nearby Hougang or Serangoon HDB flat gains private-condo facilities and school priority simultaneously — a combination that is hard to replicate in the district without paying significantly more.
- ✅ Long-Term Owner-Occupier (10+ Year Horizon): Buyers intending to live in the unit for a decade or longer can absorb the lease decay curve comfortably: at the 10-year mark the lease will be approximately 74 years, still above the critical financing threshold. The lifestyle quality — large pool, resort grounds, mature landscaping — holds up well against newer launches and justifies the hold.
- ⚠️ Buy-to-Let Investor (Expatriate Tenant Focus): The 3.2 per cent gross yield is competitive for OCR but leaves limited margin once maintenance fees, property tax, and agent commission are netted out. Expatriate demand from the Lycée Français corridor is real but thin. Investors chasing yield should model net yield carefully using the cash flow calculator and consider whether the school-catchment premium is better monetised by an owner-occupier than a landlord.
- ⚠️ Short-to-Medium Term Speculative Buyer (3–5 Year Flip): Capital appreciation potential is real — D19 posted 40 per cent PSF growth over five years to 2025 — but Terrasse's vintage means any flip buyer is selling a property that will be 15 to 20 years old with a lease of roughly 79 to 84 years. New-launch competition from CRL-adjacent sites will cap upside. Use the ROI calculator to stress-test exit assumptions.
- ⚠️ Retiree or Empty-Nester Downsizer: The facilities and estate ambience are excellent for retiree living, but the relatively car-dependent connectivity and the absence of a sheltered drop-off directly at the gate may be limiting. Buyers in their sixties should also model the CPF and financing constraints that will apply to resale buyers when they eventually exit in their seventies or early eighties, when the lease will have approximately 65 to 70 years remaining — a tightening window.
- ❌ First-Time Buyer Seeking Entry-Level Private Property: While the S$880k entry ticket is accessible, first-time buyers typically need maximum leverage (75 per cent LTV) and maximum CPF usage. Both are available now, but buying a 16-year-old leasehold asset as a first property ties up liquidity in an asset whose resale pool will narrow over the holding period. Newer 99-year launches in the same district or adjacent D28 offer a longer lease runway for the same financial commitment and may be more appropriate for buyers in their twenties or early thirties.
Terrasse earns a measured recommendation for the right buyer — specifically, the owner-occupier family for whom Rosyth School access and resort-scale facilities are the primary decision criteria, and who plans to hold for at least seven to ten years. Within that buyer profile, the combination of a large, mature estate, a multi-line MRT interchange within 15 minutes, a deep retail and dining catchment, and a resale price that remains meaningfully below comparable CCR and RCR addresses makes Terrasse a defensible and lifestyle-rich choice.
For investors or shorter-horizon buyers, the calculus is harder. The 3.2 per cent gross yield requires active rental management to net anything meaningful after costs. The vintage lease creates a structural PSF ceiling relative to new launches, and the competitive supply pipeline from CRL-corridor GLS sites will maintain pricing pressure on all 2010–2015 OCR stock through the second half of this decade. These are not reasons to dismiss the asset, but they are reasons to underwrite it conservatively rather than at peak assumptions.
The district comparison context matters here too: D19's median PSF of S$1,736 in 2025, representing 40 per cent five-year growth, confirms that this corridor has fundamental demand drivers that transcend individual project cycles. Terrasse at S$1,553 average PSF is priced at a 10.5 per cent discount to the district median — a gap that reflects its age and leasehold trajectory but also represents a potential catch-up opportunity if infrastructure upgrades (Serangoon North CRL opening circa 2030) re-rate the micro-location. Buyers who can hold through the CRL-opening catalyst and are prepared to exit before the lease crosses the 75-year mark are likely to find the timing economics favourable. Those who cannot commit to that window should explore alternatives in the District 19 analytics hub or run a structured side-by-side via the property comparison tool.
FAQ
What is the average price for TERRASSE?
What is the rental yield for TERRASSE?
Is TERRASSE freehold or leasehold?
How many years are left on the Terrasse lease and does it affect my CPF usage?
The Terrasse lease commenced in 2010 and runs for 99 years, meaning approximately 84 years remain as of 2026. CPF housing usage requires the remaining lease to cover the youngest buyer until age 95. For a 35-year-old buyer, that means needing at least 60 years of remaining lease — Terrasse satisfies this comfortably today. However, buyers should model their exit: if you plan to sell in 20 years, your buyers will face a lease of around 64 years, which starts to constrain CPF usage for younger purchasers in that future pool. Use the lease decay calculator to project these scenarios for your specific age and holding period.
Is Terrasse within the Rosyth School 1 km priority zone for Primary 1 registration?
Yes. Rosyth School is located approximately 1 kilometre from Terrasse, placing the development within the Phase 2B priority distance band under the Ministry of Education's Primary 1 Registration framework. This gives children of Terrasse residents a priority ballot advantage over applicants living beyond 1 km but within 2 km. Given Rosyth's consistent oversubscription, this proximity is a meaningful and recurring benefit for families with children approaching Primary 1 age — and is a primary driver of owner-occupier demand in resale listings at this address.
What is the nearest MRT station to Terrasse and how long does it take to get to the CBD?
The nearest MRT station is Kovan (NE13, North East Line), approximately a 10 to 12 minute walk from the development. Serangoon interchange (NE12/CC13), where the North East Line meets the Circle Line, is roughly 15 minutes on foot or a short bus ride away. From Serangoon interchange, Dhoby Ghaut is approximately 9 stops on the NEL (around 18 minutes), placing the CBD within a total door-to-door commute of approximately 35 to 40 minutes under normal peak conditions. The upcoming Serangoon North MRT on the Cross Island Line (targeted circa 2030) will add a third rail option within walking distance and is expected to further compress journey times to the eastern employment corridors.
What stamp duty costs apply when buying a resale unit at Terrasse?
Buyer's Stamp Duty (BSD) is payable by all purchasers on a tiered rate: 1 per cent on the first S$180,000, 2 per cent on the next S$180,000, 3 per cent on the next S$640,000, 4 per cent on the next S$500,000, and 5 per cent on the remainder above S$1.5 million (with a 6 per cent tier applying above S$3 million as of the February 2023 revision). Additional Buyer's Stamp Duty (ABSD) applies at rates ranging from 20 per cent for Singapore Citizens purchasing a second property to 60 per cent for foreigners. For a precise calculation on a specific Terrasse unit price, the stamp duty calculator handles all current BSD and ABSD tiers including the 2023 rate changes.
How does Terrasse compare to newer OCR launches in District 19 on a PSF basis?
Terrasse's recent average transaction PSF of approximately S$1,553 sits at a roughly 10 per cent discount to the D19 district median of S$1,736 recorded in 2025. This discount reflects both the project's 2015 TOP vintage and the shorter residual lease relative to newer 99-year launches. In absolute dollar terms, the gap is meaningful for value-seeking buyers: a 1,000 sq ft unit at S$1,553 psf prices at S$1.55 million versus S$1.74 million at the district median — a S$190,000 difference that exceeds typical transaction costs. The trade-off is the leasehold trajectory discussed elsewhere in this article. Buyers who want a direct side-by-side comparison against specific comparable projects can use the property comparison tool to assess PSF, yield, and facilities concurrently.
What facilities does Terrasse offer and how do they compare to similarly priced condos?
Terrasse's facilities list is notably comprehensive for a sub-S$2 million OCR entry-point development. The centrepiece is a 50-metre lap pool — a rarity at this price point, where most comparable projects offer pools of 25 to 30 metres. Supporting amenities include a jacuzzi, children's pool, tennis court, multi-purpose court, jogging track, fitness area, BBQ pavilions, and an Arcadia Clubhouse. The site's themed garden zones (Serene Garden, Fern Valley, Palm Courtyard, Viewing Deck) are well-maintained and provide a resort aesthetic that has aged better than the utilitarian landscaping typical of mass-market OCR projects from the same era. For buyer profiles that weight lifestyle quality heavily — particularly families and long-term owner-occupiers — this facilities spread is a genuine competitive advantage relative to newer but denser boutique launches in the district.
Methodology & Sources
This analysis covers All available years and refreshes as new data becomes available.
Transaction data sourced from URA.
- Sales data: 121 transactions analysed
- Rental data: 359 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 TERRASSE
Access the full interactive dashboard with real-time sales trends, rental yields, and investment calculators.
New Sale vs Resale Mix
Of the 2,426 condo transactions recorded in District 19 over the last 12 months, 93% resale, 5% new sale, 2% sub sale. A resale-heavy mix points to an established market trading on fundamentals; a new-sale-heavy mix means developer launches are setting the price benchmarks.
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Price Index Check
The ShiokNest Price Index for District 19 reads 137.0 as of June 2026 — up 2.0% year-on-year. The index tracks repeat-sales price movement, so it is less distorted by shifts in what happens to be transacting than a raw average PSF.
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HDB Alternatives Nearby
Weighing TERRASSE against staying public? These HDB towns sit within walking or short-drive distance:
- Serangoon — 4-room average $685,706 (120m away), an upgrader gap of about $800,000
- Hougang — 4-room average $630,510 (310m away), an upgrader gap of about $850,000
- Ang Mo Kio — 4-room average $724,816 (1.9 km away), an upgrader gap of about $750,000