The M stands on Middle Road in the heart of Singapore's District 7, a 99-year leasehold mixed-use tower completed in 2021 and developed by Wing Tai's subsidiary Wingcharm Investment Pte Ltd. With 522 residences spread across four blocks — three twenty-storey residential towers and a six-storey podium block — the project occupies a sliver of prime real estate wedged between Beach Road and North Bridge Road, less than four hundred metres from Bugis MRT interchange. For buyers drawn to the idea of a central address with a cosmopolitan edge, The M delivers: the CBD's office towers are a short commute away, Bras Basah's arts and cultural belt is next door, and the Marina Bay waterfront is reachable on foot on a fine evening. Transaction data for the twelve months to mid-2026 shows average sale prices in the range of S$2,163 to S$2,895 per square foot, with a median close to S$2,578 psf — figures that place The M comfortably within the upper tier of City Core (CCR) leasehold pricing while still trailing the most prestigious freehold addresses. With approximately 135 recorded resale and sub-sale transactions on URA's books and an active rental market fed by the nearby business and hospitality corridors, The M occupies an interesting intersection of lifestyle appeal, rental income potential, and long-term capital-appreciation story.
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 7 — the postal codes covering Middle Road, Beach Road, and the fringes of the Civic District — has long been one of Singapore's most contested urban regeneration zones. The Urban Redevelopment Authority's masterplan designates the area as part of the Rochor Planning Area and, more broadly, the extended Downtown Core. Over the past decade, Wave upon wave of commercial and hospitality development has transformed what was once a quiet shophouse enclave into a mixed precinct anchored by the Duo development, South Beach, and Bugis Junction — all within an eight-minute walk of The M's lobby. The site itself, leased from the Singapore Land Authority under a 99-year tenure commencing 2019, was formerly occupied by the Middle Road Church compound, lending the address a degree of civic history that newer reclamation sites in the east lack.
Bugis MRT sits at the crossing of the East-West Line (EWL) and the Downtown Line (DTL), making The M one of the best-connected addresses in the city-state for those who value public-transit access above all else. City Hall station (North-South and East-West Lines) is a five-minute walk north; Esplanade station (Circle Line) is ten minutes south. This triple-line proximity means virtually every major employment node — One-North, Changi Business Park, Jurong Gateway, the financial district — is reachable within a single-transfer journey of under thirty minutes. For the sizeable cohort of residents who work in the central business district, the commute is a flat twenty-minute walk or a two-stop EWL ride. The surrounding retail and dining fabric reinforces the urban lifestyle proposition: Bugis Junction and Bugis+ malls are directly adjacent, the Haji Lane and Arab Street precinct is a five-minute stroll east, and the Bras Basah.Bugis arts precinct — home to the Singapore Art Museum, the National Museum, and the Singapore Management University campus — fills out the cultural calendar for residents who value proximity to ideas as much as to markets.
We track 135 sales and 858 rental transaction records for this property. Explore live charts, price trends, rental yields, and investment analytics on the THE M dashboard.
- Average sale price: $1,793,282 across 135 transactions
- Estimated gross rental yield: 3.0%
- District 7 PSF ranking: Above average (top 29%)
- 99 yrs lease commencing from 2019 · CCR · D7 · 522 units
About THE M
THE M is a 99 yrs lease commencing from 2019 condominium, located at MIDDLE ROAD in District 7 (Middle Road, Golden Mile) (Core Central Region), developed by JANITON PTE LTD, comprising 522 residential units, completed in 2021.
With approximately 92 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 THE M:
| Type | Sales | Avg PSF | Avg Price |
|---|---|---|---|
| Studio | 10 | $2,548 psf | $1,156,078 |
| 1 BR | 70 | $2,821 psf | $1,661,091 |
| 2 BR | 54 | $2,711 psf | $2,067,923 |
| 3 BR | 1 | $2,642 psf | $2,588,000 |
Sales Market Overview
THE M has recorded 135 sale transactions with an average transaction price of $1,793,282, ranging from $908,000 to $2,588,000.
| Year | Sales | Avg PSF | Avg Price | YoY |
|---|---|---|---|---|
| 2021 | 48 | $2,690 psf | $1,739,820 | — |
| 2022 | 29 | $2,792 psf | $1,784,034 | ↑ 3.8% |
| 2023 | 27 | $2,947 psf | $2,078,074 | ↑ 5.5% |
| 2024 | 12 | $2,762 psf | $1,736,648 | ↓ 6.3% |
| 2025 | 15 | $2,600 psf | $1,581,259 | ↓ 5.9% |
| 2026 | 4 | $2,545 psf | $1,544,500 | ↓ 2.1% |
THE M ranks in the top 29% of condos in District 7 by average PSF.
Compared to the CCR average of $2,447 psf, THE M trades 12.6% above the segment benchmark.
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Rental Market Overview
THE M has recorded 858 rental transactions with monthly rents averaging $4,533/mo.
| Type | Leases | Avg Rent | Min | Max |
|---|---|---|---|---|
| Studio | 273 | $4,280/mo | $2,900/mo | $6,800/mo |
| 1 BR | 278 | $4,081/mo | $3,600/mo | $5,800/mo |
| 2 BR | 293 | $5,161/mo | $3,850/mo | $7,650/mo |
| 3 BR | 14 | $5,289/mo | $2,900/mo | $7,100/mo |
| Year | Leases | Avg Rent |
|---|---|---|
| 2023 | 60 | $4,716/mo |
| 2024 | 380 | $4,512/mo |
| 2025 | 250 | $4,468/mo |
| 2026 | 168 | $4,611/mo |
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Investment Analysis
Based on average rents and sale prices, THE M delivers an estimated gross rental yield of 3.0%. This is above the Singapore-wide benchmark of approximately 3%.
Competing Condos in District 7
Side-by-side comparison against the most actively traded condos in District 7 (Middle Road, Golden Mile):
| Condo | Tenure | Units | Avg PSF | Sales |
|---|---|---|---|---|
| MIDTOWN MODERN | 99 yrs lease commencing from 2019 | 558 | $2,838 psf | 583 |
| DUO RESIDENCES | 99 yrs lease commencing from 2011 | 660 | $2,203 psf | 99 |
| MIDTOWN BAY | 99 yrs lease commencing from 2018 | 219 | $3,222 psf | 92 |
| CONCOURSE SKYLINE | 99 yrs lease commencing from 2008 | 360 | $1,961 psf | 92 |
| CITY GATE | 99 yrs lease commencing from 2014 | 311 | $2,052 psf | 87 |
Location Map
Map shows THE M (centre marker) with nearby MRT stations and schools. Drag to pan, scroll to zoom.
- THE M
- Bugis MRT
- Bugis MRT
- Esplanade MRT
- Bras Basah MRT
- City Hall MRT
- School of the Arts
- Nanyang Academy of Fine Arts
- Singapore Management University
Nearby MRT Stations
THE M is 360m from Bugis MRT (East-West Line), with 20 stations within 1.5 km.
Nearby Schools
There are 10 schools within 2 km of THE M, including 3 within the 1 km priority zone.
| School | Type | Distance |
|---|---|---|
| School of the Arts | Jc | 370m |
| Nanyang Academy of Fine Arts | Tertiary | 390m |
| Singapore Management University | Tertiary | 670m |
| LASALLE College of the Arts | Tertiary | 1.0 km |
| St. Andrew's Junior School | Primary | 1.2 km |
| St. Andrew's Secondary School | Secondary | 1.2 km |
| St. Andrew's Junior College | Jc | 1.2 km |
| ACS (Junior) | Primary | 1.7 km |
| Farrer Park Primary School | Primary | 1.7 km |
| Fairfield Methodist School (Primary) | Primary | 1.9 km |
The M's most defensible strength is its location moat. Acquiring a new-build 99-year leasehold unit this close to Bugis MRT interchange and the CBD is increasingly difficult: the supply of developable land in District 7 is effectively exhausted at the plot sizes Wing Tai secured. Competing projects such as Midtown Modern (also District 7, Beach Road) and the older DUO Residences command comparable or higher PSF precisely because the catchment for this type of urbanist product is deep and growing. For a buy-and-hold investor, scarcity of future comparable supply is a meaningful tailwind.
The developer pedigree reinforces buyer confidence. Wing Tai Holdings has been listed on the Singapore Exchange since 1989, manages assets exceeding S$4.5 billion, and has delivered acclaimed residential projects including Helios Residences and Nouvel 18. The company's track record for construction quality and after-sales service is well regarded in the local market, and The M was awarded Best Residential Smart Building Development (Singapore) at the PropertyGuru Asia Property Awards — a recognition that speaks to the project's integrated smart-home infrastructure rather than simply its marketing story.
The facilities deck punches well above the project's 522-unit scale. A 50-metre lap pool, jacuzzi, and the 3,000-square-foot Club M clubhouse — complete with a bar, baking studio, gaming room, and co-working meeting rooms — cater explicitly to the young professional demographic that forms the natural tenant and owner base here. The clubhouse's co-working component was prescient: hybrid work patterns mean that tenants who work partly from home actively value in-building productivity spaces, reducing the relevance of the small unit footprints that critics flag.
On the rental income front, The M's address is as close to a guaranteed-tenanted play as Singapore's residential market offers. The hotel corridor along Beach Road and the concentration of MICE venues in Marina Bay generate consistent short-stay and corporate demand. Long-stay expatriate tenants working in the financial district, the tech cluster at one-north, and the hospitality and events industry regularly rent in this precinct. Gross rental yields for well-managed studios and one-bedroom units in District 7 have historically tracked 3.0 to 3.8 percent, meaningfully above the broader CCR average.
The clearest structural risk facing The M is leasehold tenure decay. With the 99-year clock starting in 2019, buyers in 2026 are acquiring roughly 93 years of remaining lease. That figure is comfortable today and for the next two to three decades, but Singapore's property market is acutely lease-sensitive: academic research published in the International Real Estate Review found that a 1-percent increase in remaining lease correlates with a 1.62-percent increase in transacted price. For an investor with a ten-to-fifteen-year hold, the erosion is modest; for someone holding into the 2060s, the discount applied at resale time will be meaningful. Buyers who are considering The M as a legacy asset to pass to children or grandchildren should model the lease position carefully and may benefit from running the numbers through a lease decay calculator.
The unit size profile is the second risk worth dwelling on. The M's studios start at around 420 to 450 square feet and one-bedroom units top out near 560 square feet — compact even by Singapore's new-launch standards. Post-pandemic data on Singapore's residential market consistently shows that very small units (sub-500 sq ft) take longer to sell in a soft market, trade at a wider discount to larger units in the same development, and attract a narrower pool of prospective tenants, particularly from the family-oriented expatriate segment. For investors targeting corporate tenants from financial institutions with generous housing allowances, the sub-500-sq-ft studios may under-deliver on achievable rent relative to a comparable 700-sq-ft one-bedroom elsewhere.
A third consideration is supply competition within the immediate catchment. Midtown Modern (558 units, Beach Road, estimated TOP 2023) and the ongoing pipeline of mixed-use developments at the Ophir-Rochor corridor mean that The M's tenants and prospective buyers have credible alternatives within a 500-metre radius. Pricing power is therefore constrained by a relatively deep supply pocket in this specific sub-market, even if the broader District 7 land bank is limited.
Finally, the traffic and ambient noise environment along Middle Road and North Bridge Road — one of Singapore's busiest arterial corridors — is a real liveability consideration for owner-occupiers. Units on lower floors facing the road-facing aspect may experience persistent vehicular noise, and the proximity to the popular Haji Lane nightlife strip translates to late-night sound on weekends. Buyers should inspect floor level and orientation carefully and factor in double-glazed window specifications before committing.
- ✅ Young urban professional (first or second property): The M's location, smart-home features, co-working clubhouse, and compact but efficient unit layouts are purpose-built for this demographic. A short commute to the CBD or Bras Basah employers, a walkable social scene, and a developer-backed maintenance standard reduce the friction of city living. Financing a sub-S$1.5M one-bedroom on a combined household income of S$10,000 or more is feasible, and the unit can be let out easily if circumstances change.
- ✅ Buy-to-let investor targeting expat corporate tenants: District 7 sits at the intersection of the CBD, Marina Bay MICE belt, and Beach Road hotel corridor — a rental catchment that produces consistent corporate tenant demand. Gross yields of 3.0 to 3.8 percent on studios and one-bedroom units are achievable and compare favourably to freehold CCR peers. The investor should size up to at least a one-bedroom unit to broaden tenant appeal and model vacancy risk against the competing supply at Midtown Modern.
- ⚠️ Upgrader from HDB or mass-market condo seeking lifestyle address: The lifestyle proposition — walkable cultural precinct, triple MRT access, award-winning facilities — is compelling, but families accustomed to three-bedroom HDB floor plates (roughly 1,000 sq ft) will find The M's three-bedroom dual-key units tight for daily living with children. The dual-key configuration is more income-oriented than family-oriented. Upgraders with school-age children may find better value in larger RCR or OCR units where absolute floor area per dollar is higher.
- ⚠️ Long-horizon capital appreciation investor: The scarcity of comparable supply in District 7 and the ongoing transformation of the Rochor corridor support a positive long-run capital narrative. However, the 99-year leasehold clock, the premium PSF entry point (S$2,500 to S$2,900), and compressed yields in the CCR mean that total returns over a ten-year hold will be heavily dependent on macro conditions and interest-rate cycles. Run a full investment analysis using the ROI calculator and cash-flow calculator before committing.
- ⚠️ Overseas investor or Singapore PR acquiring first local property: The M's brand, location quality, and Wing Tai's reputation make it an internationally legible asset that is easier to explain to foreign buyers at resale. However, the 60-percent Additional Buyer's Stamp Duty payable by foreigners as of 2023 materially changes the investment mathematics. A foreign buyer paying ABSD on a S$1.5M unit faces an upfront cost of approximately S$900,000 in ABSD alone, raising the effective all-in cost and compressing yield significantly. Use the stamp duty calculator to model your precise liability before making an offer.
- ❌ Retiree or near-retiree seeking downsizing address: The M's unit mix skews small and the surrounding precinct is energetic — Bugis Junction, the bar strip on Haji Lane, and the MRT interchange create a vibrant but not necessarily quiet environment. Retirees who prioritise larger living spaces, a slower-paced neighbourhood, and proximity to specialist medical facilities may find developments in Novena, Bishan, or the Orchard fringe a better fit for their daily lifestyle and long-term health-access needs.
The M is a well-executed mixed-use project in one of Singapore's most irreplaceable urban addresses. Wing Tai has delivered on the promise of its pre-launch positioning: the smart-home infrastructure, the Club M co-working clubhouse, and the 50-metre lap pool set a quality standard that holds up against competing launches in the Beach Road corridor. For buyers who are genuinely urban in their lifestyle, value transit connectivity above floor area, and are comfortable with a 99-year leasehold tenure that still carries over nine decades of useful life, The M is a legitimate top-tier choice within the CCR leasehold category.
The caveats are real but manageable. Small unit sizes constrain the tenant demographic and will widen the discount at resale relative to larger units in the same block as the building ages. The PSF entry point — consistently in the S$2,500 to S$2,900 range in 2025-2026 transactions — prices in most of the locational premium, leaving less room for error on timing or on hold period. Investors should model the lease decay carefully against their target exit year, and owner-occupiers should physically inspect the noise environment on a weekday evening before exchanging.
On balance, The M earns a buy recommendation for well-capitalised urban professionals and experienced buy-to-let investors who are sized into a one-bedroom or larger unit, have modelled their ABSD and total acquisition cost, and have a minimum five-to-seven-year hold horizon. For first-time buyers stretching to a studio as an entry into the CCR, the liquidity risk and small-unit discount at resale warrant caution — consider whether a slightly larger unit in a comparable RCR address would serve the same objectives with better exit optionality. You can compare the numbers head-to-head at the property comparison tool or explore the wider District 7 pricing context at the District 7 analytics page.
FAQ
What is the average price for THE M?
What is the rental yield for THE M?
Is THE M freehold or leasehold?
Which MRT lines serve The M, and how does connectivity compare to nearby projects?
The M is served primarily by Bugis MRT, which is both an East-West Line (EWL) and Downtown Line (DTL) interchange station, placing it within a short walk. City Hall station (North-South Line and EWL) is accessible on foot in under ten minutes, and Esplanade station (Circle Line) is roughly the same distance to the south. This proximity to three MRT lines is a meaningful differentiator: residents can reach Changi Airport directly on the EWL, access the Botanic Gardens precinct on the Circle Line, or travel to Buona Vista one-north on the DTL without a single interchange. Compared to nearby projects such as Midtown Modern (one MRT line direct) or older developments on Upper Pickering Street (five minutes from Clarke Quay on the NEL only), The M's multi-line access is a genuine premium feature that supports both rental demand and long-term capital value.
Is The M a good choice for owner-occupiers, or is it primarily an investment product?
The M is genuinely liveable for singles and couples who embrace the compact-urban lifestyle that the development is designed around. The co-working clubhouse reduces the friction of working from a small unit, the 50-metre lap pool and fitness facilities are well-maintained, and the walkable precinct — with Bugis Junction, hawker centres, cafes, and the Bras Basah arts belt within easy reach — means that residents spend relatively little time inside their apartments. That said, the compact unit sizes (studios from approximately 420 sq ft, one-bedrooms up to 560 sq ft) make The M a difficult fit for couples with children or owner-occupiers who value spacious domestic living. Buyers in the latter category are better served by two-bedroom or larger units in developments on the fringe of the city where the same budget buys meaningfully more floor area. For owner-occupiers who work in the CBD or CBD-adjacent areas, however, The M can eliminate commuting time in a way that adds genuine quality-of-life value that does not show up in a psf comparison.
What are the key risks an investor should evaluate before buying at The M?
The three risks that warrant the closest scrutiny are: (1) Small-unit liquidity risk — sub-500 sq ft studios tend to take longer to sell in a soft market and attract a narrower pool of buyers; investors should stress-test exit scenarios where the market softens and days-on-market extend. (2) Competing supply in District 7 — Midtown Modern and other Beach Road corridor launches compete directly for the same tenant and buyer demographic, capping pricing power at the margin. (3) Total acquisition cost at today's ABSD rates — Singapore Citizens purchasing a second property pay 20 percent ABSD; Permanent Residents pay 30 percent on a second property; foreigners pay 60 percent. On a S$1.5M unit, the ABSD alone can run to S$900,000 for a foreign buyer, fundamentally altering the return profile. Always model total acquisition cost — including stamp duty, legal fees, and any renovation — using the total cost calculator and the stamp duty calculator before proceeding.
How does Wing Tai's developer reputation affect the resale value of The M?
Wing Tai Holdings is one of Singapore's most established listed developers, incorporated locally since 1963 and managing assets exceeding S$4.5 billion. Its residential portfolio includes luxury projects such as Helios Residences and Nouvel 18, and the group has a documented track record for construction quality, finishing specifications, and responsive property management. In Singapore's resale market, developer brand carries a modest but measurable premium — buyers and tenants are more confident transacting in a Wing Tai building than in an unknown developer's project, and this shows up in shorter days-on-market and slightly firmer achievable prices. The M's PropertyGuru Asia Property Award for Best Residential Smart Building Development (Singapore) provides an independently verified quality signal that agents and buyers can reference at the point of resale, reinforcing the brand premium.
How does The M's leasehold tenure affect its long-term value?
The M's 99-year lease commenced in 2019, leaving approximately 93 years of remaining tenure for buyers transacting in 2026. At this stage, lease decay has virtually no pricing impact — banks will lend at standard loan-to-value ratios and CPF can be applied without restriction. The situation will shift from roughly the 2050s onwards, when the remaining lease falls below 60 years and CPF usage becomes restricted and bank financing more constrained. For buyers with a 10-to-15-year investment horizon, lease decay is not a material concern; for very long-hold strategies, it is worth modelling with a lease decay calculator. Academic research has found that in Singapore's market, each additional year of remaining lease adds roughly 1.62 percent to transacted price, so the asset should hold value well through the 2040s provided the macro environment remains supportive.
Methodology & Sources
This analysis covers All available years and refreshes as new data becomes available.
Transaction data sourced from URA.
- Sales data: 135 transactions analysed
- Rental data: 858 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 THE M
Access the full interactive dashboard with real-time sales trends, rental yields, and investment calculators.
New Sale vs Resale Mix
Of the 175 condo transactions recorded in District 7 over the last 12 months, 66% resale, 27% new sale, 7% 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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HDB Alternatives Nearby
Weighing THE M against staying public? These HDB towns sit within walking or short-drive distance:
- Kallang/whampoa — 4-room average $882,887 (140m away), an upgrader gap of about $900,000
- Central Area — 4-room average $1,088,814 (220m away), an upgrader gap of about $700,000