The Terrace is a 747-unit Executive Condominium (EC) developed by Kheng Leong Co (Pte) Ltd through its subsidiary Peak Square Pte Ltd, situated along Edgedale Plains and Punggol Drive in District 19. Completed in 2018 on a 99-year leasehold tenure commencing 2013, The Terrace occupies one of Punggol's most strategically positioned residential sites — within walking distance of Kadaloor LRT station and a short ride from Punggol MRT, which sits at the junction of the North East Line (NEL) and Punggol LRT. With 283 recorded resale transactions to date and resale prices ranging from approximately S$1,318 to S$1,659 psf as of late 2025, The Terrace has demonstrated sustained capital appreciation from its launch band of S$700–$900 psf — reflecting gains of up to S$600 psf for early purchasers who held through the Minimum Occupation Period (MOP).
As an EC that crossed its five-year MOP in 2023, The Terrace now sits in the partially privatised window where Singapore Citizens and Permanent Residents may transact freely on the open market without income ceiling restrictions. Full privatisation — opening the development to foreign purchasers — is on track for 2028, a milestone that historically serves as a meaningful catalyst for EC price discovery. Against this backdrop, and with the Punggol Digital District (PDD) nearing full operational capacity by late 2026, The Terrace warrants serious consideration from upgraders, investors, and HDB flat owners targeting the North-East growth corridor.
Snapshot as of 2026-05 — figures above reflect publicly available URA/HDB data at the time of this editorial review (as of 2026-05).
Punggol was designated a "Punggol 21-Plus" eco-town under Singapore's Housing Development Board masterplan and has since evolved into one of the most ambitious urban-renewal corridors in the island. The crown jewel of its transformation is the Punggol Digital District — a 50-hectare mixed-use cluster earmarked by the Urban Redevelopment Authority (URA) as Singapore's first business park specifically anchored in the digital economy. When fully operational in 2026, the PDD is projected to host over 28,000 jobs across sectors including fintech, cybersecurity, robotics, and artificial intelligence, alongside a campus for the Singapore Institute of Technology (SIT) accommodating approximately 12,000 students and 500 faculty.
Critically for residents of The Terrace, Punggol Coast MRT station on the North East Line opened in late 2023, strengthening transit links to the CBD and reinforcing Punggol's connectivity profile beyond the LRT loop. The Punggol Waterway — an 4.2-kilometre man-made waterway that forms the spine of the eco-town — is accessible via park connectors that run adjacent to The Terrace's site, providing recreational infrastructure that is increasingly rare in high-density Singapore. Meanwhile, the Northshore precinct and upcoming District 19 HDB developments continue to densify the immediate catchment, supporting retail vibrancy at Waterway Point (the regional mall approximately 1.5 km away) and driving rental demand from young professionals employed in the PDD.
EC supply has been structurally limited by government land sales, and the new 2026 EC regulations — which extend the MOP from five to ten years and push full privatisation to fifteen years for projects launched from May 2026 — do not affect The Terrace. Existing EC owners like those at The Terrace therefore hold a comparative advantage: they transact under the older, more flexible five-year MOP framework, positioning the project favourably relative to freshly launched ECs where buyers face significantly longer lock-in periods.
We track 283 sales and 79 rental transaction records for this property. Explore live charts, price trends, rental yields, and investment analytics on the THE TERRACE dashboard.
- Average sale price: $1,483,273 across 283 transactions
- Estimated gross rental yield: 3.4%
- District 19 PSF ranking: Mid-range (top 58%)
- 99 yrs lease commencing from 2013 · OCR · D19 · 747 units
About THE TERRACE
THE TERRACE is a 99 yrs lease commencing from 2013 condominium, located at EDGEDALE PLAINS in District 19 (Punggol, Hougang, Serangoon Gardens) (Outside Central Region), developed by PEAK SQUARE PTE. LTD., comprising 747 residential units, completed in 2018.
With approximately 86 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 TERRACE:
| Type | Sales | Avg PSF | Avg Price |
|---|---|---|---|
| 3 BR | 257 | $1,298 psf | $1,433,330 |
| 4 BR | 26 | $1,342 psf | $1,976,945 |
Sales Market Overview
THE TERRACE has recorded 283 sale transactions with an average transaction price of $1,483,273, ranging from $1,080,000 to $2,390,000.
| Year | Sales | Avg PSF | Avg Price | YoY |
|---|---|---|---|---|
| 2021 | 1 | $1,017 psf | $1,095,000 | — |
| 2022 | 129 | $1,209 psf | $1,386,543 | ↑ 18.8% |
| 2023 | 49 | $1,287 psf | $1,448,795 | ↑ 6.5% |
| 2024 | 57 | $1,366 psf | $1,548,101 | ↑ 6.2% |
| 2025 | 36 | $1,482 psf | $1,678,851 | ↑ 8.5% |
| 2026 | 11 | $1,573 psf | $1,830,535 | ↑ 6.1% |
THE TERRACE ranks in the top 58% of condos in District 19 by average PSF.
Compared to the OCR average of $1,550 psf, THE TERRACE trades 16% below the segment benchmark.
Loading chart data...
Rental Market Overview
THE TERRACE has recorded 79 rental transactions with monthly rents averaging $4,183/mo.
| Type | Leases | Avg Rent | Min | Max |
|---|---|---|---|---|
| 3 BR | 69 | $4,015/mo | $2,500/mo | $5,600/mo |
| 4 BR | 10 | $5,340/mo | $4,900/mo | $5,800/mo |
| Year | Leases | Avg Rent |
|---|---|---|
| 2021 | 3 | $2,867/mo |
| 2022 | 7 | $4,057/mo |
| 2023 | 17 | $4,532/mo |
| 2024 | 19 | $4,018/mo |
| 2025 | 27 | $4,240/mo |
| 2026 | 6 | $4,258/mo |
Loading chart data...
Investment Analysis
Based on average rents and sale prices, THE TERRACE delivers an estimated gross rental yield of 3.4%. This is above the Singapore-wide benchmark of approximately 3%.
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 TERRACE (centre marker) with nearby MRT stations and schools. Drag to pan, scroll to zoom.
- THE TERRACE
- Kadaloor MRT
- Oasis MRT
- Riviera MRT
- Cove MRT
- Coral Edge MRT
- Oasis Primary School
- Singapore Institute of Technology
- Horizon Primary School
Nearby MRT Stations
THE TERRACE is 220m from Kadaloor MRT (Punggol LRT), with 7 stations within 1.5 km.
Nearby Schools
There are 9 schools within 2 km of THE TERRACE, including 4 within the 1 km priority zone.
| School | Type | Distance |
|---|---|---|
| Oasis Primary School | Primary | 540m |
| Singapore Institute of Technology | Tertiary | 780m |
| Horizon Primary School | Primary | 890m |
| Punggol Primary School | Primary | 1.0 km |
| Edgefield Primary School | Primary | 1.0 km |
| Punggol Secondary School | Secondary | 1.0 km |
| Waterway Primary School | Primary | 1.1 km |
| Punggol Green Primary School | Primary | 1.4 km |
| North Spring Primary School | Primary | 1.5 km |
1. Punggol Digital District proximity and employment upside. The Terrace sits less than 2 km from the PDD boundary. The district is designed as a "live-work-play" environment with seamless pedestrian linkages to surrounding residential estates. As of 2026, at least 65% of commercial floor space has been pre-committed to tenants, meaning the jobs pipeline is no longer speculative — it is being delivered. A working-age catchment of 28,000 employed residents translates directly into sustained demand for rental units and resale transactions within cycling or LRT distance.
2. Privatisation runway with clear milestones. Under the pre-2026 EC framework, The Terrace follows a well-understood timeline: MOP satisfied (2023), resale to Singapore Citizens and PRs now unrestricted, full privatisation and foreign-buyer eligibility expected around 2028. Each milestone has historically unlocked a fresh buyer cohort, compressing supply against rising demand. The removal of the income ceiling after MOP further broadens the qualified buyer pool compared to the launch phase.
3. Established developer with long-run track record. Kheng Leong Co, incorporated in Singapore since 1949, has pivoted from commodity trading to a diversified investment group with a credible development portfolio. The quality of The Terrace's construction and finishing — 12 residential blocks, full condo facilities including pool, gym, function rooms, and BBQ pavilions — has held up well post-TOP, with minimal reported maintenance issues relative to comparable EC projects of the same vintage.
4. LRT-direct connectivity and park connector access. Kadaloor LRT is effectively at the development's doorstep, with a direct pedestrian path from Block 92. The LRT plugs into Punggol MRT (NEL), delivering a one-stop connection to Sengkang, two stops to Hougang, and CBD access via Dhoby Ghaut interchange without a bus transfer. The adjacent park connector network provides direct cycling and jogging routes to Punggol Waterway Park and Coney Island, a lifestyle premium that commands demonstrable rental and resale premiums in walkability-scoring indices. Buyers can model this through ShiokNest's ROI calculator and affordability planner.
5. Measured but consistent price appreciation. The Terrace launched at S$700–$900 psf and has transacted in the S$1,318–$1,659 psf range in 2025, representing a 65–85% appreciation over approximately a decade of holding. Current rental yield sits at approximately 3.1%, which, while modest by absolute standards, is competitive for a 99-year OCR EC with the PDD employment catalyst still ramping up. The price comparison tool can benchmark The Terrace against peer ECs in District 19 and adjacent districts.
1. Lease decay on a 99-year tenure from 2013. By 2026, approximately 13 years of the lease have elapsed. While this is early in the property's life, buyers taking a 30-year view should factor in that the effective remaining lease at exit will be approximately 74–76 years, which begins to constrain CPF usage and bank financing eligibility. Use ShiokNest's lease decay calculator to stress-test exit scenarios. EC buyers who intend to hold long-term should model the CPF withdrawal threshold at the 60-year remaining lease mark.
2. OCR location with PSF ceiling uncertainty. At S$1,480 psf average in late 2025, The Terrace is trading at the upper end of OCR EC resale benchmarks. The PDD employment uplift is real but not unlimited — if take-up of PDD commercial space slows or tech-sector hiring softens, the rental demand thesis weakens proportionally. Buyers should stress-test cash flow at rental yields of 2.5%–2.8% rather than anchoring exclusively on the current 3.1% figure.
3. Competition from new EC launches in Punggol. Tengah and Bukit Batok ECs, along with upcoming Punggol North sites, continue to offer alternative EC options at lower absolute quantum (newer launches still subject to income ceiling at launch). While The Terrace benefits from the older MOP framework, newer EC supply in the North-East could dampen capital appreciation if buyer preference shifts toward fresher stock.
4. LRT dependency for last-mile connectivity. While Kadaloor LRT offers convenience, the Punggol LRT loop has historically experienced longer headways and service interruptions compared to MRT lines. Buyers who drive will find carpark availability adequate, but the LRT bottleneck is a qualitative discount relative to developments with direct MRT-station frontage.
[
{
"persona": "HDB upgrader (SC couple, combined income S$10k–$14k)",
"fit_color": "green",
"reason": "Classic EC upgrader profile. MOP has passed so no income ceiling applies on resale purchase. Partial privatisation means CPF and bank financing are straightforward. PDD job growth supports long-run capital appreciation, and the entry quantum is lower than CCR/RCR private condos at comparable unit sizes."
},
{
"persona": "Singapore PR or new citizen seeking first private residential purchase",
"fit_color": "green",
"reason": "PRs are eligible to buy resale ECs after MOP with no restriction on income. The Terrace offers larger-format 3- to 5-bedroom units that are increasingly scarce in the resale EC market, at PSF levels below comparable fully private condos in the same district."
},
{
"persona": "Investor targeting PDD rental demand",
"fit_color": "yellow",
"reason": "Current yield of ~3.1% is acceptable but not exceptional. The PDD jobs ramp-up does support rental demand, particularly for 3-bedrooms targeting young professional tenants. Investors should use the <a href=\"/calculator/cash-flow\">cash flow calculator</a> and <a href=\"/calculator/roi\">ROI calculator</a> to verify net yield after maintenance fees and property tax before committing."
},
{
"persona": "Foreign buyer anticipating 2028 full privatisation",
"fit_color": "yellow",
"reason": "Full privatisation under the pre-2026 framework is expected around 2028, which would open The Terrace to foreign purchasers. Foreigners cannot buy today but may position via PR spouse arrangements. The 2028 milestone has historically unlocked price discovery in comparable ECs."
},
{
"persona": "Young family prioritising school belt and outdoors",
"fit_color": "green",
"reason": "Punggol is well-provisioned with primary schools (Edgefield, Mee Toh, Punggol Primary all within 2 km), and the park connector and Coney Island nature corridor provide rare family-friendly outdoor amenity. The unit mix of 3- to 5-bedroom formats suits growing households."
},
{
"persona": "Yield-maximiser seeking sub-S$1.5m entry",
"fit_color": "yellow",
"reason": "At S$1,480 psf average, a 3-bedroom unit (circa 1,000–1,100 sqft) clears the S$1.4m–$1.6m range. Monthly mortgage on a 25-year loan at prevailing rates should be modelled using ShiokNest's <a href=\"/calculator/mortgage\">mortgage calculator</a> and <a href=\"/calculator/tdsr\">TDSR planner</a> to confirm serviceability. Rental income of S$3,500–$4,200/month for a 3-bedroom is the current market band."
}
]
The Terrace occupies a compelling niche: a post-MOP EC in Singapore's most deliberately planned growth corridor, built by an established developer, offering large-format units at PSF levels that remain below comparable fully privatised condos in District 19. The convergence of three catalysts — Punggol Digital District nearing full capacity in 2026, the 2028 full-privatisation milestone opening the development to foreign buyers, and structurally constrained EC supply under the new 2026 MOP framework — creates a reasonably well-supported medium-term appreciation thesis.
The risks are real but manageable: lease decay is early-stage, OCR PSF ceilings limit the upside multiple relative to RCR comparables, and new EC launches in Tengah and Bukit Batok provide supply competition. For buyers calibrating entry using Singapore's stamp duty calculator or total cost of purchase planner, the all-in acquisition cost for a 3-bedroom unit lands in a range that remains accessible for dual-income SC couples. Investors with a five-to-seven year horizon and the discipline to model cash flow conservatively will find The Terrace a credible addition to a Singapore residential portfolio, particularly if the PDD employment story continues to deliver on its 28,000-job target. The price heatmap confirms that Punggol is one of the few OCR sub-markets where psf trajectories have held positive momentum through multiple cooling-measure cycles.
FAQ
What is the average price for THE TERRACE?
What is the rental yield for THE TERRACE?
Is THE TERRACE freehold or leasehold?
Can a Singapore Permanent Resident buy a resale unit at The Terrace EC today?
Yes. The Terrace completed its five-year Minimum Occupation Period (MOP) in 2023. Once an EC clears its MOP under the pre-2026 framework, it enters partial privatisation status, meaning Singapore Citizens and Permanent Residents may purchase resale units on the open market with no income ceiling restriction. Note that foreigners remain ineligible until full privatisation, which is expected around 2028 (ten years from the project's TOP date).
How do the new 2026 EC rules affect The Terrace?
The enhanced EC rules announced in 2026 — which extend the MOP to ten years and push full privatisation to fifteen years — apply only to EC projects where the government land sale tender closes from 8 May 2026 onwards. The Terrace was launched in 2013 and therefore operates under the original five-year MOP and ten-year full-privatisation framework. Existing owners and resale buyers at The Terrace are not affected by the new rules, which is a meaningful comparative advantage over freshly launched ECs where buyers face much longer lock-in periods.
What is the expected full privatisation timeline for The Terrace?
Under Singapore's EC framework, full privatisation occurs ten years after the project's TOP (Temporary Occupation Permit). The Terrace received its TOP in 2018, placing the full privatisation milestone in approximately 2028. At that point the development becomes legally equivalent to a private condominium and may be transacted with foreigners and foreign entities. This milestone typically broadens the buyer pool and has historically supported price discovery for comparable EC developments.
What is the Punggol Digital District and how does it affect The Terrace's investment case?
The Punggol Digital District (PDD) is a 50-hectare mixed-use business and education cluster developed by JTC Corporation and the Urban Redevelopment Authority, focused on the digital economy sectors of fintech, cybersecurity, robotics, and artificial intelligence. As of 2026, PDD is nearing full operational capacity with over 65% of commercial space committed and Singapore Institute of Technology's full student cohort of approximately 12,000 expected on campus by mid-2025. The district is projected to generate 28,000 jobs within walking and cycling distance of The Terrace. For investors, a large, relatively young employed population within the immediate catchment supports sustained rental demand, while the broader economic uplift to Punggol supports long-term capital value.
What are the nearest schools and amenities to The Terrace?
The Terrace is served by several primary schools within a 2-kilometre radius, including Edgefield Primary School, Mee Toh School, and Punggol Primary School — relevant for families balloting for Primary 1 registration under Phase 2C proximity rules. Waterway Point, a six-storey regional mall on the Punggol Waterway, is approximately 1.5 km away and accessible via the LRT or park connector. The Punggol Waterway Park and Coney Island nature corridor provide recreational amenity within cycling distance. Daily conveniences including Punggol Plaza, Oasis Terraces, and Punggol Hawker Centre are within a short drive or LRT journey.
Methodology & Sources
This analysis covers All available years and refreshes as new data becomes available.
Transaction data sourced from URA REALIS.
- Sales data: 283 transactions analysed
- Rental data: 79 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 TERRACE
Access the full interactive dashboard with real-time sales trends, rental yields, and investment calculators.