THE RICHMOND is a freehold development along ST. MICHAEL'S ROAD in District 12 (Toa Payoh / Balestier), part of the RCR segment of Singapore's private residential market. The project comprises 38 units and is TOP 1999.
This profile draws on 8 recorded transactions from URA 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 12 (Toa Payoh / Balestier), the immediate context for THE RICHMOND 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 8 sales and 17 rental transaction records for this property. Explore live charts, price trends, rental yields, and investment analytics on the THE RICHMOND dashboard.
- Average sale price: $1,817,500 across 8 transactions
- Estimated gross rental yield: 2.4%
- District 12 PSF ranking: Mid-range (top 52%)
- Freehold tenure · RCR · D12 · 38 units
About THE RICHMOND
THE RICHMOND is a freehold condominium, located at ST. MICHAEL'S ROAD in District 12 (Toa Payoh, Serangoon, Balestier) (Rest of Central Region), developed by TRIO - UNITED REALTY PTE LTD, comprising 38 residential units, completed in 1999.
As a freehold property, THE RICHMOND does not face lease decay concerns.
Unit Mix Distribution
Transaction data breakdown by bedroom type at THE RICHMOND:
| Type | Sales | Avg PSF | Avg Price |
|---|---|---|---|
| 3 BR | 7 | $1,431 psf | $1,782,857 |
| 4 BR | 1 | $1,302 psf | $2,060,000 |
Sales Market Overview
THE RICHMOND has recorded 8 sale transactions with an average transaction price of $1,817,500, ranging from $1,380,000 to $2,060,000.
| Year | Sales | Avg PSF | Avg Price | YoY |
|---|---|---|---|---|
| 2021 | 1 | $1,115 psf | $1,380,000 | — |
| 2022 | 2 | $1,332 psf | $1,880,000 | ↑ 19.5% |
| 2023 | 2 | $1,447 psf | $1,815,000 | ↑ 8.7% |
| 2024 | 2 | $1,543 psf | $1,910,000 | ↑ 6.6% |
| 2025 | 1 | $1,562 psf | $1,950,000 | ↑ 1.2% |
THE RICHMOND ranks in the top 52% of condos in District 12 by average PSF.
Compared to the RCR average of $2,049 psf, THE RICHMOND trades 30.9% below the segment benchmark.
Loading chart data...
Rental Market Overview
THE RICHMOND has recorded 17 rental transactions with monthly rents averaging $3,653/mo.
| Type | Leases | Avg Rent | Min | Max |
|---|---|---|---|---|
| Studio | 4 | $2,425/mo | $2,000/mo | $2,750/mo |
| 3 BR | 13 | $4,031/mo | $2,500/mo | $5,500/mo |
| Year | Leases | Avg Rent |
|---|---|---|
| 2021 | 5 | $2,520/mo |
| 2022 | 3 | $3,167/mo |
| 2023 | 2 | $4,350/mo |
| 2024 | 3 | $3,800/mo |
| 2025 | 4 | $4,975/mo |
Loading chart data...
Investment Analysis
Based on average rents and sale prices, THE RICHMOND delivers an estimated gross rental yield of 2.4%. This is below the 3% benchmark, suggesting stronger capital appreciation potential.
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 RICHMOND (centre marker) with nearby MRT stations and schools. Drag to pan, scroll to zoom.
- THE RICHMOND
- Boon Keng MRT
- Geylang Bahru MRT
- Potong Pasir MRT
- Bendemeer MRT
- Bendemeer Primary School
- Bendemeer Secondary School
- Hong Wen School
Nearby MRT Stations
THE RICHMOND is 680m from Boon Keng MRT (North-East Line), with 4 stations within 1.5 km.
| Station | Code | Line | Distance |
|---|---|---|---|
| Boon Keng | NE9 | North-East Line | 680m |
| Geylang Bahru | DT24 | Downtown Line | 860m |
| Potong Pasir | NE10 | North-East Line | 870m |
| Bendemeer | DT23 | Downtown Line | 1.2 km |
Nearby Schools
There are 12 schools within 2 km of THE RICHMOND, including 3 within the 1 km priority zone.
| School | Type | Distance |
|---|---|---|
| Bendemeer Primary School | Primary | 390m |
| Bendemeer Secondary School | Secondary | 390m |
| Hong Wen School | Primary | 980m |
| Stamford Primary School | Primary | 1.2 km |
| Assumption Pathway School | Secondary | 1.2 km |
| Balestier Hill Primary School | Primary | 1.5 km |
| School of Science and Technology | Jc | 1.5 km |
| Beatty Secondary School | Secondary | 1.6 km |
| Farrer Park Primary School | Primary | 1.6 km |
| CHIJ Secondary (Toa Payoh) | Secondary | 1.6 km |
| De La Salle School | Primary | 1.8 km |
| CHIJ Our Lady Queen of Peace | Primary | 1.8 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. Boon Keng is about 0.68km — 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.
Boutique character. With 38 units, THE RICHMOND keeps a low-density character — fewer residents per facility, quieter corridors, more curated common spaces. Suits buyers prioritising unit-interior quality and neighbour proximity over deep facilities breadth.
School-belt proximity. Bendemeer Primary School sits about 0.39km 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 8 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.
- ✅ Young couple, first home: Long balance lease + likely sub-CCR pricing
- ✅ Family with school-age kids: Nearby schools support MOE registration priority
- ✅ CBD commuter: Walking-distance MRT supports daily commute
- ❌ Rental investor (yield-focused): Thin transaction history makes underwriting fragile
- ⚠️ Foreign professional (expat): MRT plus mid-size facility suite typically meets expat-tenant criteria
- ✅ Long-term hold (10+ yr): Tenure supports CPF + buyer-pool through hold
Composite assessment: THE RICHMOND 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. 8 transactions in URA 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 THE RICHMOND?
What is the rental yield for THE RICHMOND?
Is THE RICHMOND freehold or leasehold?
Methodology & Sources
This analysis covers All available years and refreshes as new data becomes available.
Transaction data sourced from URA.
- Sales data: 8 transactions analysed
- Rental data: 17 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 RICHMOND
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.
Loading chart data...
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.
Loading chart data...
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 RICHMOND against staying public? These HDB towns sit within walking or short-drive distance:
- Kallang/whampoa — 4-room average $882,887 (150m away), an upgrader gap of about $950,000
- Toa Payoh — 4-room average $929,793 (830m away), an upgrader gap of about $900,000
- Geylang — 4-room average $761,443 (1.5 km away), an upgrader gap of about $1,050,000