The Arcady at Boon Keng occupies a rare position in Singapore's residential landscape: a freehold condominium in the city fringe, priced within reach of the broader Rest of Central Region (RCR) market. Situated along Saint Barnabas Lane off Serangoon Road in District 12, the 172-unit development by KSH Ultra Unity — a consortium comprising KSH Holdings (49%), H10 Holdings (36%), and SLB Developments — launched in January 2024 and recorded 51 units sold on its opening weekend, a healthy 29.7% take-up rate that signalled genuine buyer confidence. With an average transacted price around S$2,570 psf at launch and recent resale transactions ranging from S$2,525 to S$2,837 psf, The Arcady sits below the ~S$2,840 psf average for comparable new freehold launches in the RCR — a compelling entry point for buyers who understand what perpetual tenure means for long-term wealth preservation in Singapore. For owner-occupiers and patient investors alike, this project checks the boxes that matter most: freehold land title, North-East Line MRT within a short walk, established neighbourhood amenities, and a boutique scale that keeps the community intimate.
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 site was formerly Euroasia Apartments, acquired by KSH via collective sale in July 2022 for S$222.18 million (S$1,313 psf per plot ratio). That land cost, while substantial, is modest by recent District 12 standards, and the developer passed a portion of the savings to buyers through pricing discipline. The project occupies a land area of approximately 5,247 sqm with a Gross Floor Area of 15,719 sqm, yielding a low-density layout — just 172 units across a single site — that contrasts sharply with the mega-developments dominating the broader RCR market.
District 12 (Kallang / Toa Payoh) is one of the few mature estates in Singapore where freehold land still changes hands at city-fringe prices rather than Core Central Region (CCR) premiums. The area's character is decidedly mixed-use: HDB heartland blocks, conservation shophouses along Balestier Road, and modern condominiums exist side by side, creating a walkable urban fabric that many residents value over the more sterile environments of newer suburban townships. For context, the District 12 property market has historically attracted Singaporean buyers — buyer nationality data for The Arcady confirms 89.9% Singaporean purchasers, 9.0% Permanent Residents, and just 1.1% foreigners — a profile consistent with the estate's upgrader-and-investor demographic rather than a foreign-capital-driven market. This local-buyer dominance lends the resale market a degree of stability, as demand is anchored in genuine housing need and long-term ownership intent rather than speculative offshore capital flows.
RCR freehold supply remains constrained. The Urban Redevelopment Authority's data shows that genuinely freehold new launches in the RCR represent a small minority of total pipeline each year, and land parcels in mature estates like Boon Keng rarely come to market via collective sale. The Arcady's freehold status is therefore not merely a marketing attribute — it is a structural scarcity that underpins long-term value retention relative to the 99-year leasehold alternatives that dominate Singapore's development pipeline. Buyers who compare freehold and leasehold condos in the same district will consistently observe that freehold properties command a premium at resale, a premium that compounds over time as leasehold decay accelerates beyond the 40-year mark.
We track 94 sales and 0 rental transaction records for this property. Explore live charts, price trends, rental yields, and investment analytics on the THE ARCADY AT BOON KENG dashboard.
- Average sale price: $2,185,301 across 94 transactions
- District 12 PSF ranking: Premium tier (top 3%)
- Freehold tenure · RCR · D12 · 172 units
About THE ARCADY AT BOON KENG
THE ARCADY AT BOON KENG is a freehold condominium, located at SAINT BARNABAS LANE in District 12 (Toa Payoh, Serangoon, Balestier) (Rest of Central Region), developed by KSH Ultra Unity Pte Ltd, comprising 172 residential units, completed in 2024.
As a freehold property, THE ARCADY AT BOON KENG does not face lease decay concerns.
Unit Mix Distribution
Transaction data breakdown by bedroom type at THE ARCADY AT BOON KENG:
| Type | Sales | Avg PSF | Avg Price |
|---|---|---|---|
| 1 BR | 46 | $2,606 psf | $1,672,065 |
| 2 BR | 10 | $2,653 psf | $2,027,310 |
| 3 BR | 33 | $2,564 psf | $2,700,416 |
| 4 BR | 5 | $2,639 psf | $3,823,294 |
Sales Market Overview
THE ARCADY AT BOON KENG has recorded 94 sale transactions with an average transaction price of $2,185,301, ranging from $1,316,000 to $3,926,000.
| Year | Sales | Avg PSF | Avg Price | YoY |
|---|---|---|---|---|
| 2024 | 63 | $2,577 psf | $2,011,202 | — |
| 2025 | 20 | $2,632 psf | $2,379,255 | ↑ 2.1% |
| 2026 | 11 | $2,654 psf | $2,829,770 | ↑ 0.9% |
THE ARCADY AT BOON KENG ranks in the top 3% of condos in District 12 by average PSF.
Compared to the RCR average of $2,049 psf, THE ARCADY AT BOON KENG trades 26.8% above the segment benchmark.
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Competing Condos in District 12
Side-by-side comparison against the most actively traded condos in District 12 (Toa Payoh, Serangoon, Balestier):
| Condo | Tenure | Units | Avg PSF | Sales |
|---|---|---|---|---|
| THE ORIE | 99 yrs lease commencing from 2024 | 52 | $2,730 psf | 740 |
| EIGHT RIVERSUITES | 99 yrs lease commencing from 2011 | 843 | $1,645 psf | 306 |
| GEM RESIDENCES | 99 yrs lease commencing from 2015 | 578 | $1,838 psf | 196 |
| TREVISTA | 99 yrs lease commencing from 2008 | 590 | $1,702 psf | 147 |
| VERTICUS | Freehold | 162 | $2,122 psf | 128 |
Location Map
Map shows THE ARCADY AT BOON KENG (centre marker) with nearby MRT stations and schools. Drag to pan, scroll to zoom.
- THE ARCADY AT BOON KENG
- Boon Keng MRT
- Geylang Bahru MRT
- Bendemeer MRT
- Potong Pasir MRT
- Bendemeer Primary School
- Bendemeer Secondary School
- Hong Wen School
Nearby MRT Stations
THE ARCADY AT BOON KENG is 490m from Boon Keng MRT (North-East Line), with 4 stations within 1.5 km.
| Station | Code | Line | Distance |
|---|---|---|---|
| Boon Keng | NE9 | North-East Line | 490m |
| Geylang Bahru | DT24 | Downtown Line | 860m |
| Bendemeer | DT23 | Downtown Line | 1.0 km |
| Potong Pasir | NE10 | North-East Line | 1.1 km |
Nearby Schools
There are 15 schools within 2 km of THE ARCADY AT BOON KENG, including 3 within the 1 km priority zone.
| School | Type | Distance |
|---|---|---|
| Bendemeer Primary School | Primary | 200m |
| Bendemeer Secondary School | Secondary | 200m |
| Hong Wen School | Primary | 810m |
| Stamford Primary School | Primary | 1.4 km |
| Assumption Pathway School | Secondary | 1.4 km |
| Farrer Park Primary School | Primary | 1.4 km |
| School of Science and Technology | Jc | 1.6 km |
| Balestier Hill Primary School | Primary | 1.6 km |
| Beatty Secondary School | Secondary | 1.6 km |
| CHIJ Secondary (Toa Payoh) | Secondary | 1.7 km |
| CHIJ Our Lady Queen of Peace | Primary | 1.7 km |
| St. Andrew's Secondary School | Secondary | 1.8 km |
1. Freehold tenure in a land-scarce city-fringe location. This is the project's single most important attribute. In a city where the government controls land supply and 99-year leasehold is the default for most new developments, a freehold title in District 12 — barely two MRT stops from Dhoby Ghaut — represents genuine intergenerational value. Owners retain perpetual title; there is no lease decay to manage, no countdown clock ticking against capital value. For buyers using the lease decay calculator to model holding-period returns, the contrast is stark: a freehold unit at S$2,570 psf today retains its nominal land entitlement in 50 years, while a leasehold equivalent at S$2,600 psf will have lost a significant portion of its financing eligibility and resale appeal.
2. Boon Keng MRT connectivity on the North-East Line. Boon Keng MRT (NE9) is approximately 500 metres — a comfortable 7-minute walk — from the development. The North-East Line runs from HarbourFront to Punggol and connects seamlessly to Dhoby Ghaut interchange (CCR), City Hall, and the Jurong employment corridors via circle and east-west transfers. For professionals working in the CBD, the daily commute from The Arcady to Raffles Place is under 15 minutes by MRT, a connectivity score that many CCR condos at twice the price cannot better. The adjacent Geylang Bahru MRT (DT24 Downtown Line), approximately 900 metres away, adds a second-line redundancy that further elevates the location's transport credentials.
3. Competitive PSF relative to peer freehold launches. At an average transacted price of S$2,570 psf at launch — and recent resale evidence of S$2,622 psf — The Arcady is priced below the ~S$2,840 psf average for new freehold non-landed homes in the RCR during the same period. Buyers effectively acquired freehold tenure at near-leasehold pricing, a gap that analysts expect to narrow as the development reaches TOP and the resale pool thins. Running the numbers through a mortgage calculator, a 2-bedroom unit at approximately S$1.73M requires a monthly repayment of around S$7,200–S$8,100 at prevailing rates (assuming 75% LTV, 25-year tenure), within reach of dual-income professional households.
4. Boutique scale and lifestyle facilities. With only 172 units, The Arcady avoids the anonymity of Singapore's larger mega-developments. Facilities include a lap pool, indoor gym, children's playground, and BBQ pits set within a landscaped environment. The low unit count also means facility-to-resident ratios are more favourable, a quality-of-life factor that resonates with owner-occupiers who have experienced the queues and crowds at 500+ unit developments. The site's Serangoon Road address also benefits from the area's rich hawker and dining culture: Boon Keng Market and Hawker Centre, Bendemeer Market, and a constellation of independent eateries are all within a 10-minute radius.
5. Established school catchment. For families, the proximity of St Andrew's Secondary School, Bendemeer Primary School, Hongwen Primary School, and Cedar Girls' Secondary School within 1–2 km creates a credible school-posting narrative. Phase 2C primary school registration, which now uses a ballot system, has reduced the value of address proximity, but secondary school allocation and the general perception of a "school-rich" neighbourhood still support demand from family upgraders — Singapore's most active property buying cohort.
6. Green corridor access. The Kallang Park Connector, which links the neighbourhood to Marina Bay via a continuous cycling and jogging path, passes within easy reach of the development. For residents who value outdoor recreation, the proximity to Kallang Riverside Park and the Singapore Sports Hub adds a lifestyle premium that is difficult to replicate in more commercialised parts of the city fringe.
1. Absolute price quantum creates financing sensitivity. While PSF pricing is competitive, the absolute entry price — from approximately S$1.33M for a 1-bedroom to S$3.7M+ for a 4-bedroom — means buyers face meaningful Total Debt Servicing Ratio (TDSR) constraints. At the 55% TDSR ceiling, a household would need a combined gross monthly income of roughly S$18,000–S$22,000 to service a mortgage on a 3-bedroom unit without exceeding the threshold. Use the TDSR calculator to stress-test your specific income and liability profile before committing. Rising interest rates in 2025–2026 have already compressed affordability margins for mid-income buyers.
2. District 12 rental demand is thinner than CCR or Buona Vista corridors. While owner-occupier demand is robust, the rental market in Boon Keng is dominated by mid-budget tenants — largely local Singaporeans and PRs, blue-collar expatriates, and students from nearby institutions — rather than the corporate expatriate segment that commands premium rents in Districts 9–11 or the one-north knowledge cluster. Investors expecting CCR-equivalent gross yields of 3.5%+ may find the Boon Keng rental market somewhat constrained, with achievable rents for a 2-bedroom unit typically ranging from S$3,800 to S$4,800 per month depending on fit-out and tenure. Model your return assumptions carefully using a ROI calculator before anchoring on optimistic yield projections.
3. Boutique scale limits facilities depth. The same low unit count that creates an intimate community also means The Arcady cannot justify the full-club facilities — tennis court, multiple pools, function rooms, concierge — that larger developments offer. Buyers who prioritise resort-style amenity breadth over community intimacy may find the facility offering modest relative to comparably priced 99-year projects in the RCR with 400+ units and correspondingly larger maintenance contributions funding richer facilities.
4. Neighbourhood character is eclectic, not premium. Boon Keng's streetscape mixes HDB blocks, light industrial remnants, and older walk-up apartments with newer condominiums. The precinct lacks the uniform premium character of Districts 9–11 or the polished new-town feel of Tampines or Punggol. Some buyers, particularly those from overseas or seeking a prestige address, may find the neighbourhood's mixed-use character less aspirational. This is a lifestyle consideration rather than a fundamental investment risk, but it shapes the eventual resale buyer pool.
5. Additional Buyer's Stamp Duty (ABSD) cost for investors. Singaporean investors purchasing a second property face 20% ABSD; foreigners face 60%. For investment buyers, these duty costs materially alter the total acquisition cost and the break-even holding period. The stamp duty calculator will quantify the full upfront cost for your citizenship and property-count profile. At S$1.73M for a 2-bedroom, a Singaporean second-property buyer faces approximately S$346,000 in ABSD alone — a sum that extends the payback horizon by several years at prevailing rental yields.
- ✅ Singaporean HDB upgrader (family, first private purchase): Freehold tenure eliminates lease decay anxiety for a long-term family home; Boon Keng MRT connectivity and nearby primary schools (Bendemeer, Hongwen) match family living priorities; pricing from S$1.73M for 2-bedroom is within reach of HDB sellers realising S$400K–S$600K in equity.
- ✅ Long-term wealth-preservation investor (Singapore citizen or PR, single property): Freehold land in a mature city-fringe estate is a rare asset class; no ABSD on first property; holding 15–20 years allows the freehold premium over surrounding leasehold stock to widen as leases decay; boutique supply of 172 units limits future competing resale inventory.
- ✅ Young professional couple (combined income S$14,000–S$18,000, CBD-based): Under 15-minute NEL commute to Raffles Place; 1-bedroom from S$1.33M is serviceable within TDSR at dual incomes; freehold ownership beats leasehold equivalents at similar PSF; Boon Keng hawker scene suits everyday lifestyle without premium dining overheads.
- Short-term rental yield investor (2–5 year horizon): Achievable gross yields of 2.8%–3.3% are below the national private condo average; ABSD on second properties adds a heavy carry cost; the Boon Keng rental tenant pool is mid-budget rather than corporate-expatriate, limiting rental upside. Returns are viable only over longer holding periods.
- ❌ Foreign buyer or non-resident investor: 60% ABSD for foreigners makes the effective acquisition cost prohibitive; at S$1.73M for a 2-bedroom, a foreign buyer faces over S$1.04M in ABSD alone. Unless purchasing for bona fide Singapore relocation, the yield and appreciation math does not recover the duty premium within any reasonable holding window.
- Lifestyle-driven downsizer from a larger landed or CCR apartment: The Arcady's facilities and neighbourhood character are solid but not premium by CCR standards; downsizers accustomed to the prestige addresses of Districts 9–11 may find Boon Keng's mixed streetscape a step down in lifestyle cachet, even if the commute convenience is equivalent or better.
The Arcady at Boon Keng is a well-executed, appropriately priced freehold condominium that occupies genuine market scarcity. In a development pipeline dominated by 99-year leasehold projects, a 172-unit freehold release in the city fringe — priced at or below leasehold PSF comparables in the same region — is a structural anomaly that the market correctly identified on launch day when 51 units were snapped up in a single weekend. The project's credentials stack up cleanly: perpetual land tenure, seven-minute MRT walk to a major North-East Line interchange, an established school and amenity catchment, and boutique scale that preserves both community cohesion and resale scarcity.
The caveats are equally clear-eyed. Boon Keng is not a premium lifestyle address; rental yields are modest rather than exceptional; and ABSD costs make the project unsuitable for foreign investors or Singaporeans carrying multiple properties on short-hold timelines. But for owner-occupiers and long-term investors who have used a affordability calculator to confirm their financing envelope — and who understand that freehold tenure in Singapore is a long game measured in decades, not quarters — The Arcady at Boon Keng represents one of the more compelling city-fringe value propositions to have launched in the current property cycle. The 89.9% Singaporean buyer profile says as much: this is a project chosen by people who intend to live in it or hold it for the long term, not a speculative vehicle. That is, quietly, exactly what a good freehold condo investment should look like.
FAQ
What is the average price for THE ARCADY AT BOON KENG?
What is the rental yield for THE ARCADY AT BOON KENG?
Is THE ARCADY AT BOON KENG freehold or leasehold?
What unit types and sizes are available at The Arcady?
The Arcady at Boon Keng offers eight unit configurations: 1-bedroom, 2-bedroom, 2-bedroom + study, 3-bedroom, 3-bedroom + study, 4-bedroom, 5-bedroom, and penthouses. Prices at launch ranged from approximately S$1.33M for a 1-bedroom to over S$7.8M for penthouse units. The 1-bedroom and 2-bedroom units were most rapidly absorbed at launch, with close to 90% of 2-bedroom units sold within months of the January 2024 launch weekend.
How does stamp duty affect my purchase of The Arcady?
All buyers pay Buyer's Stamp Duty (BSD) on the purchase price. For a unit at S$1.73M, BSD is approximately S$49,700. Additional Buyer's Stamp Duty (ABSD) varies significantly by buyer profile: Singapore citizens purchasing their first property pay 0% ABSD; a second property attracts 20% ABSD (approximately S$346,000 on S$1.73M); PRs on a first purchase pay 5%; foreigners pay 60%. Use the stamp duty calculator to compute your exact liability based on your citizenship status and existing property holdings.
Methodology & Sources
This analysis covers All available years and refreshes as new data becomes available.
Transaction data sourced from URA.
- Sales data: 94 transactions 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 THE ARCADY AT BOON KENG
Access the full interactive dashboard with real-time sales trends, rental yields, and investment calculators.
New Sale vs Resale Mix
Of the 438 condo transactions recorded in District 12 over the last 12 months, 87% resale, 13% new 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 12 reads 136.8 as of May 2026 — down 6.2% 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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Upcoming Supply Pipeline
1 active Government Land Sales site in District 12 could add roughly 335 new units to local supply. Incoming supply of this scale tends to cap short-term price growth in the immediate area but also signals planning confidence in the location.
| Site | Street | Est. units | List | Status |
|---|---|---|---|---|
| Lorong 1 Toa Payoh | — | ~335 | Confirmed | Available |
HDB Alternatives Nearby
Weighing THE ARCADY AT BOON KENG against staying public? These HDB towns sit within walking or short-drive distance:
- Kallang/whampoa — 4-room average $882,887 (70m away), an upgrader gap of about $1,350,000
- Toa Payoh — 4-room average $929,793 (970m away), an upgrader gap of about $1,300,000
- Geylang — 4-room average $761,443 (1.5 km away), an upgrader gap of about $1,450,000