The Tembusu sits along Tampines Road in the established Serangoon/Hougang belt of District 19, a 337-unit freehold development that obtained its Temporary Occupation Permit in 2018 under Winsmart Investment Pte Ltd. Positioned in the Outside Central Region (OCR) yet within a short drive of Kovan MRT on the North East Line and Hougang MRT, it has matured into a recognisable address for owner-occupier families seeking freehold tenure without crossing into prime-district price tiers. Configurations span compact one-bedders through to four-bedroom layouts, and the surrounding precinct now includes refreshed F&B clusters at Kovan Heartland Mall and the long-standing NEX regional hub at Serangoon. For prospective buyers weighing this project against leasehold peers nearby, the central question is whether the freehold premium and family-oriented catchment justify the entry price relative to comparable D19 alternatives. See the latest district indicators on the District 19 dashboard and benchmark visually against neighbouring projects via the price heatmap. Transaction data referenced throughout this review is drawn from URA’s public caveat repository.
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 has been one of the most active OCR sub-markets over the past five years, with URA’s private residential price index showing sustained appreciation across non-landed segments. The Tembusu’s 2018 TOP placed it in the post-cooling-measures cohort, meaning early buyers absorbed the July 2018 ABSD hike but have since benefited from the broader OCR repricing wave. Freehold stock in the Kovan/Hougang stretch is comparatively scarce; most newer launches in walking distance to Kovan MRT — including the upcoming pipeline along Upper Serangoon Road — are 99-year leasehold, which structurally supports tenure-premium retention for projects like The Tembusu. On the demand side, the area pulls a steady mix of HDB upgraders from Hougang, Punggol and Sengkang towns, as well as right-sizers exiting older freehold landed enclaves in Lorong Chuan and Serangoon Gardens. Connectivity is anchored by the North East Line (Kovan and Hougang stations), with the Cross Island Line’s Hougang interchange (expected from 2030 per LTA’s rail expansion roadmap) further reinforcing medium-term accessibility. Financing dynamics remain shaped by MAS’s Total Debt Servicing Ratio framework, which caps debt service at 55% of gross income and effectively constrains how aggressively upgrader households can stretch into freehold pricing. Buyers should model their position using the TDSR calculator and the affordability calculator before committing.
We track 63 sales and 507 rental transaction records for this property. Explore live charts, price trends, rental yields, and investment analytics on the THE TEMBUSU dashboard.
- Average sale price: $1,603,949 across 63 transactions
- Estimated gross rental yield: 2.5%
- District 19 PSF ranking: Premium tier (top 15%)
- Freehold tenure · OCR · D19 · 337 units
About THE TEMBUSU
THE TEMBUSU is a freehold condominium, located at TAMPINES ROAD in District 19 (Punggol, Hougang, Serangoon Gardens) (Outside Central Region), developed by WINSMART INVESTMENT PTE LTD, comprising 337 residential units, completed in 2018.
As a freehold property, THE TEMBUSU does not face lease decay concerns.
Unit Mix Distribution
Transaction data breakdown by bedroom type at THE TEMBUSU:
| Type | Sales | Avg PSF | Avg Price |
|---|---|---|---|
| Studio | 15 | $1,801 psf | $859,267 |
| 1 BR | 3 | $1,446 psf | $919,333 |
| 2 BR | 19 | $1,824 psf | $1,426,737 |
| 3 BR | 15 | $1,847 psf | $1,975,852 |
| 4 BR | 11 | $1,860 psf | $2,605,092 |
Sales Market Overview
THE TEMBUSU has recorded 63 sale transactions with an average transaction price of $1,603,949, ranging from $750,000 to $3,100,000.
| Year | Sales | Avg PSF | Avg Price | YoY |
|---|---|---|---|---|
| 2021 | 12 | $1,639 psf | $1,419,250 | — |
| 2022 | 15 | $1,774 psf | $1,836,593 | ↑ 8.2% |
| 2023 | 5 | $1,860 psf | $1,396,000 | ↑ 4.9% |
| 2024 | 12 | $1,831 psf | $1,401,333 | ↓ 1.5% |
| 2025 | 15 | $1,935 psf | $1,776,526 | ↑ 5.6% |
| 2026 | 4 | $1,900 psf | $1,506,250 | ↓ 1.8% |
THE TEMBUSU ranks in the top 15% of condos in District 19 by average PSF.
Compared to the OCR average of $1,550 psf, THE TEMBUSU trades 16.9% above the segment benchmark.
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Rental Market Overview
THE TEMBUSU has recorded 507 rental transactions with monthly rents averaging $3,376/mo.
| Type | Leases | Avg Rent | Min | Max |
|---|---|---|---|---|
| 1 BR | 182 | $2,619/mo | $1,750/mo | $3,700/mo |
| 2 BR | 206 | $3,366/mo | $2,300/mo | $4,600/mo |
| 3 BR | 99 | $4,227/mo | $1,800/mo | $6,000/mo |
| 4 BR | 19 | $5,676/mo | $3,800/mo | $6,500/mo |
| 5+ BR | 1 | $15,000/mo | $15,000/mo | $15,000/mo |
| Year | Leases | Avg Rent |
|---|---|---|
| 2021 | 105 | $2,569/mo |
| 2022 | 102 | $3,147/mo |
| 2023 | 87 | $3,838/mo |
| 2024 | 101 | $3,639/mo |
| 2025 | 87 | $3,808/mo |
| 2026 | 25 | $3,516/mo |
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Investment Analysis
Based on average rents and sale prices, THE TEMBUSU delivers an estimated gross rental yield of 2.5%. 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 | 860 |
| THE FLORENCE RESIDENCES | 99 yrs lease commencing from 2018 | 1410 | $1,746 psf | 844 |
| RIVERFRONT RESIDENCES | 99 yrs lease commencing from 2018 | 1451 | $1,589 psf | 622 |
| AFFINITY AT SERANGOON | 99 yrs lease commencing from 2018 | 1012 | $1,699 psf | 596 |
| SERANGOON GARDEN ESTATE | Freehold | — | $1,735 psf | 462 |
Location Map
Map shows THE TEMBUSU (centre marker) with nearby MRT stations and schools. Drag to pan, scroll to zoom.
- THE TEMBUSU
- Kovan MRT
- Hougang MRT
- Hougang Primary School
- Hougang Secondary School
- St. Gabriel'
Nearby MRT Stations
THE TEMBUSU is 540m from Kovan MRT (North-East Line), with 2 stations within 1.5 km.
Nearby Schools
There are 19 schools within 2 km of THE TEMBUSU, including 9 within the 1 km priority zone.
| School | Type | Distance |
|---|---|---|
| Hougang Primary School | Primary | 20m |
| Hougang Secondary School | Secondary | 70m |
| St. Gabriel's Primary School | Primary | 280m |
| Holy Innocents' Primary School | Primary | 410m |
| Holy Innocents' High School | Secondary | 460m |
| Montfort Secondary School | Secondary | 640m |
| Montfort Junior School | Primary | 740m |
| Xinmin Primary School | Primary | 830m |
| Xinmin Secondary School | Secondary | 950m |
| Zhonghua Primary School | Primary | 1.1 km |
| Zhonghua Secondary School | Secondary | 1.2 km |
| Rosyth School | Primary | 1.5 km |
- Freehold tenure in a leasehold-dominant pocket. The Tembusu is one of a limited cohort of freehold non-landed projects within a one-kilometre radius of Kovan MRT, which is structurally supportive of long-run resale liquidity and lease-decay-free holding economics. The lease decay calculator illustrates the present-value gap freehold preserves over a comparable 99-year asset across a 20–30 year horizon.
- Dual-MRT walkability and NEL access. The project is within walking distance of both Kovan and Hougang MRT stations on the North East Line, giving residents direct, no-transfer access to Serangoon (NEX), Dhoby Ghaut and HarbourFront. Walking distances and amenities can be verified on the OneMap portal.
- Mature family-school catchment. Maris Stella High School (primary and secondary), Cedar Primary, Xinghua Primary and Paya Lebar Methodist Girls’ School all sit within the 1–2 km Primary One registration bands, supporting the project’s appeal to upgrader families with school-age children.
- Established retail and F&B ecosystem. NEX at Serangoon (one MRT stop away), Heartland Mall at Kovan, Hougang Mall and the Kovan hawker/food street give the address a depth of daily amenity that newer launches in less mature precincts cannot match in the near term.
- Manageable project size with TOP-aged stabilisation. At 337 units, common-property maintenance costs scale reasonably while the post-2018 TOP profile means defects-liability cycles have closed and sinking-fund contributions are stabilised — an important factor when reviewing the management corporation’s accounts.
- OCR pricing entry to freehold. Relative to freehold projects in RCR/CCR, entry quantums here remain accessible for upgrader households, allowing buyers to capture tenure premium without prime-district pricing. Stamp-duty exposure can be modelled via the stamp duty calculator using IRAS’s current BSD/ABSD schedules.
- Tampines Road traffic and arterial exposure. Units fronting Tampines Road can experience ambient road noise and dust during peak hours; stack selection materially affects liveability and resale narrative. Prospective buyers should physically inspect at morning and evening peaks before committing.
- Freehold premium versus comparable leasehold yields. The freehold premium compresses gross rental yield relative to nearby 99-year projects at similar quantums. Investor-buyers should run the ROI calculator and the cash flow calculator to confirm holding-cost viability across realistic rental scenarios.
- Interest-rate sensitivity for stretched buyers. Upgrader households absorbing the freehold premium often run loan-to-value ratios near the regulatory ceiling. MAS’s TDSR cap of 55% remains binding, and a 100–150 bps rate move can meaningfully alter monthly servicing — stress-test using the mortgage calculator and review refinancing windows via the refinancing calculator.
- Pipeline supply along Upper Serangoon Road. Government Land Sales and en-bloc supply in the broader Hougang/Kovan corridor introduces medium-term competition for tenants and resale buyers, even if freehold stock remains scarce. Track district transaction trends on the District 19 page.
The Tembusu fits most cleanly with owner-occupier families — particularly HDB upgraders from Hougang, Sengkang and Punggol — who prioritise freehold tenure, NEL connectivity and primary-school catchment over absolute price-per-square-foot economy. Two- and three-bedroom configurations align well with young families anchored to Maris Stella, Cedar Primary or Paya Lebar Methodist Girls’, while four-bedders suit multi-generational households or buyers planning long holding periods where freehold tenure pays off most meaningfully. Right-sizers exiting older landed homes in nearby Serangoon Gardens or Lorong Chuan also find the project’s scale and amenity mix attractive without the maintenance burden of landed living. Pure investor profiles — particularly those targeting gross yields above 3.5% — will find the freehold premium harder to justify relative to leasehold alternatives one or two MRT stops away; the decoupling calculator may help married couples evaluate ABSD-efficient ownership structures if treating the unit as an investment hold. Cross-shop comparable D19 projects using the comparison tool before finalising shortlists, and review total acquisition outlay via the total cost calculator.
The Tembusu is a credible, well-located freehold OCR option whose case rests on three durable pillars: scarce freehold tenure in a leasehold-heavy NEL pocket, a mature family-school catchment, and walkable dual-MRT access. The trade-off — structurally lower gross yields and Tampines Road frontage exposure on selected stacks — is a fair one for buyers whose holding horizon is genuinely long and whose primary use case is owner-occupation rather than yield optimisation. Investors chasing rental returns should benchmark carefully against leasehold peers nearby before committing, while upgrader families with school-age children and a 10–20 year horizon are likely to find this address among the better-balanced freehold options in District 19. Buyers should validate financing headroom against current MAS rules and budget for the full BSD/ABSD exposure per IRAS guidance before submitting an Option to Purchase.
FAQ
What is the average price for THE TEMBUSU?
What is the rental yield for THE TEMBUSU?
Is THE TEMBUSU freehold or leasehold?
Which MRT stations serve The Tembusu?
What is the stamp duty exposure for a buyer at The Tembusu?
Is The Tembusu suitable for investment, or primarily owner-occupation?
Which primary schools fall within the 1–2 km registration band?
Methodology & Sources
This analysis covers All available years and refreshes as new data becomes available.
Transaction data sourced from URA REALIS.
- Sales data: 63 transactions analysed
- Rental data: 507 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 TEMBUSU
Access the full interactive dashboard with real-time sales trends, rental yields, and investment calculators.