HILLSTA Review

Overview & Key Facts

Hillsta is a 396-unit executive condominium along Phoenix Road in District 23, developed by Trusthouse Pte Ltd (a joint venture between Sim Lian Group and China Construction). Completed in 2017 under a 99-year lease from 2011, it sits in the Bukit Panjang planning area — a mature heartland neighbourhood that has been quietly gaining connectivity upgrades over the past decade.

With a median resale price of approximately S$800,000 and an average PSF of S$1,347, Hillsta represents one of the lowest quantum entry points into private condominium ownership in Singapore. For context, that S$800k median is roughly the price of a 5-room HDB resale in a mature estate — except here you get full condo facilities, a pool, gym, and a 99-year leasehold title. The catch, as with most EC developments in the OCR, is that you trade location prestige and MRT proximity for raw value.

The development comprises 396 units across multiple blocks, offering a mix of 2-bedroom to 4-bedroom layouts. As an EC that has fulfilled its minimum occupation period, all units are now available for open-market resale, including to foreigners — which widens the buyer pool and supports long-term liquidity compared to newer ECs still under resale restrictions.

Location & Connectivity

Hillsta’s location on Phoenix Road places it in the heart of Bukit Panjang’s residential belt. The nearest rail station is Phoenix LRT, just 270 metres away — essentially a 3-minute walk. Teck Whye LRT is 310 metres in the opposite direction, giving residents two LRT options within a 5-minute radius. The Bukit Panjang MRT/LRT interchange on the Downtown Line is 740 metres away, reachable in roughly 9 minutes on foot or one LRT stop.

The LRT connectivity is a double-edged sword. On one hand, three stations within 750 metres is genuinely convenient for daily commuting. On the other, the Bukit Panjang LRT loop adds 5–8 minutes to any journey before you even reach the Downtown Line, and the LRT system itself has had well-documented reliability issues. Commuters heading to the CBD should budget around 45–50 minutes door-to-door via DTL, which is competitive with many OCR locations but noticeably longer than properties near MRT interchange stations.

For drivers, the BKE is accessible within 5 minutes, connecting to the PIE and CTE. Orchard Road is about 20 minutes in off-peak traffic. Junction 10 shopping mall and Bukit Panjang Plaza are both within a short drive or bus ride, providing FairPrice, food courts, and everyday retail. Hillion Mall, integrated with the Bukit Panjang MRT station, adds a more modern retail option with a library and medical facilities.

The immediate surroundings are characteristically heartland: HDB blocks, neighbourhood coffee shops, and Zhenghua Nature Park nearby for weekend walks. It is not glamorous, but it is functional and family-friendly — the kind of area where everything you need daily is within a 10-minute radius.

Schools & Education

2 primary schools within the 1 km Priority Phase balloting radius.

Facilities

Hillsta’s facilities are adequate for its size and positioning, though they don’t attempt to compete with mega-developments like Sol Acres next door. The development offers a swimming pool, a wading pool for children, a gymnasium, BBQ pavilions, a function room, a playground, and landscaped gardens. There is also a tennis court and a clubhouse.

For a 396-unit EC, the facility provision is reasonable — you get the essentials without the sprawling resort-style amenities of larger developments. The pool is not Olympic-sized, but with fewer units competing for usage, overcrowding is rarely an issue. Residents note the grounds are generally well-maintained, and the smaller scale means shorter waits for BBQ pits and function rooms compared to neighbouring Sol Acres (1,327 units).

One practical consideration: the EC-grade finishings are functional but not luxurious. This is consistent with ECs in this price range — buyers should calibrate expectations accordingly and budget for eventual upgrades if desired. The common areas and landscaping, however, have aged reasonably well for a 2017 TOP development.

Unit Sizes & Layout

Hillsta offers a conventional EC unit mix: 2-bedroom, 3-bedroom, and 4-bedroom configurations. Unit sizes are typical of the EC segment — compact but efficient, with layouts that generally make good use of available floor area. The 3-bedroom units, which form the bulk of transactions, are the sweet spot for families looking for that sub-S$1 million condo entry.

The development’s layout provides a mix of orientations. Some stacks face the Dairy Farm and Bukit Timah nature corridors, offering pleasant green views, while others look toward the surrounding HDB landscape. As with most EC developments, the higher-floor units with unblocked views command a premium in the resale market.

PSF pricing has shown a broadly positive trend since TOP: from approximately S$1,202 in the first year to S$1,368 by year four, before dipping to S$1,298 in the most recent period. That year-5 dip is worth noting — it may reflect a short-term supply spike as more owners who fulfilled MOP listed simultaneously, rather than a fundamental weakness in the asset. Buyers should monitor whether prices stabilise or continue softening.

Pricing & Market Position

Across 136 recorded transactions (all-time), sale prices range from $580,000 to $3,050,000, averaging $956,262.

Over the last 12 months, transactions averaged $1,336 psf.

Rents range from $1,650 to $8,200 per month across 623 rental transactions. Current rental yield sits at approximately 4.1%.

Rental Yield by Bedroom Type

Blended yield hides the spread between unit sizes — smaller units at HILLSTA typically rent harder per dollar of purchase price. The final column shows monthly rent per $100,000 invested, so unit sizes compare on equal capital:

Price Appreciation

From 2021 to 2026, the average PSF has appreciated by 16% (from $1,139 to $1,321 psf).

Neighbourhood Comparison

The D23 condo landscape offers a clear spectrum from budget to premium. Hillsta sits firmly at the value end. Sol Acres (S$1,380 psf) is the most direct comparison — a mega-EC next door with more facilities but also far more units competing for them. Sol Acres has a slightly longer remaining lease and the scale to support better on-site amenities, but its 1,327-unit count means denser living and longer facility queues.

Midwood (S$1,729 psf) and Dairy Farm Residences (S$1,659 psf) represent the next tier — private condos with direct Downtown Line access at Hillview MRT and proximity to the Dairy Farm Nature Park. These command a 25–30% premium over Hillsta but offer newer builds, longer leases, and better MRT connectivity without the LRT transfer.

Lumina Grand (S$1,514 psf), the newest EC in the area, is the most interesting comparison for EC buyers. It carries a fresh lease and is positioned near Tengah, Singapore’s “forest town.” The premium over Hillsta is about 12%, reflecting the newer lease and modern design. At the top end, Botany at Dairy Farm (S$2,053 psf) offers a nature-adjacent lifestyle at a 50%+ premium — a fundamentally different proposition targeting a different buyer profile.

The trade-off for Hillsta buyers is clear: you sacrifice lease freshness and direct MRT access for a quantum that is 20–50% lower than alternatives. For buyers where the priority is minimising capital outlay while gaining condo-level living, Hillsta’s position is defensible. For those prioritising long-term capital appreciation or resale liquidity, the newer competitors with DTL access will likely outperform.

Lease Decay Analysis

The 99-year lease runs from 2011, meaning approximately 15 years have already been consumed. Roughly 84 years remain — still comfortably within the range where most banks will offer full financing without restrictions.

For a buyer purchasing today with a 10-year horizon (exit around 2036), the lease situation is essentially a non-issue — you’d be selling a property with ~74 years remaining, which is still very bankable. The risk profile changes for longer holds.

ShiokNest Scores

Our proprietary scoring system evaluates HILLSTA across multiple dimensions.

What Residents Say

“Value for money if you’re looking for an EC in the Bukit Panjang area. The LRT is just a few minutes’ walk and you can get to Bukit Panjang MRT quickly. Not the fanciest condo but it does the job.”

— Resident review via PropertyGuru

“Quiet neighbourhood, close to nature parks. The facilities are basic but well-maintained. Main downside is the LRT can be unreliable during peak hours.”

— Resident review via EdgeProp

“Good for families on a budget. We moved from a 4-room HDB and the kids love the pool. But don’t expect luxury finishings — it’s an EC, you get what you pay for.”

— Resident review via EdgeProp

Resident sentiment follows a predictable pattern for ECs in this price range: appreciation for the value proposition, proximity to LRT, and quiet surroundings, balanced against pragmatic acknowledgements of EC-grade finishings and LRT reliability concerns. The smaller community size (396 units vs Sol Acres’ 1,327) is consistently cited as a positive — less crowding at facilities and a more neighbourly atmosphere.

Strengths & Weaknesses

Verdict

Hillsta’s core proposition is straightforward: it is one of the cheapest ways to own a private condominium in Singapore. At a median price of S$800,000 and PSF of S$1,347, the quantum is genuinely accessible — comparable to HDB resale pricing in many mature estates, but with full condo facilities and a private address. For first-time buyers stepping up from HDB, or investors seeking a low-capital-outlay rental play, this is the primary draw.

The 4.2% gross rental yield is excellent by Singapore standards, where 3.0–3.5% is more typical for condos. This yield reflects the combination of low purchase price and decent rental demand in D23, where tenants include families priced out of central locations and professionals working in the Jurong/Woodlands industrial corridors. For investors, the rental math works — though capital appreciation potential is more modest than in better-located districts.

The honest concern is the lease. At 84 years remaining, Hillsta is fine for the current buyer and likely the next — but it enters the sub-60-year territory around 2072, which will affect financing options for future buyers. This is not an immediate problem, but it shapes the long-term calculus. Buyers planning to hold for 15–20 years and exit should be comfortable with the math; those looking for multi-generational wealth preservation should look at freehold or fresh-lease alternatives.

Compared to competitors, Hillsta is definitively the budget option. Sol Acres next door offers a similar D23 location at S$1,380 psf with 1,327 units and a longer remaining lease. Midwood and Dairy Farm Residences, both newer with DTL proximity, sit at S$1,729 and S$1,659 psf respectively — a 25–30% premium. Lumina Grand, the newest EC in the area, commands S$1,514 psf. And Botany at Dairy Farm, the ultra-premium option, reaches S$2,053 psf. Hillsta wins on pure value; it loses on newness, lease length, and direct MRT access.

The investment score of 72 is solid, reflecting the yield strength and price stability, though tempered by the lease position and OCR location. The en-bloc score of 24 is low — realistically, en-bloc is not a viable exit strategy for a 396-unit EC in D23. Buyers should plan for a hold-and-rent or hold-and-sell strategy rather than collective sale optionality.