Overview & Key Facts
Ivory Apartments is an eight-unit freehold boutique at 563–565C East Coast Road in District 15 — a genuinely rare product type in the Siglap – Katong corridor: a completedprehold block from 1991 sitting on a stretch of East Coast Road that has seen consistent interest from families, retirees, and long-horizon investors drawn to the neighbourhood’s particular blend of heritage, convenience, and coastal proximity.
The property data is characteristically thin for a micro-boutique. A single resale caveat on record at S$1,016 psf (December 2021, 3,444 sqft, S$3.5 million) provides a directional price anchor, but it is a single data point for a large-format unit in a small development. Rental activity is marginally more instructive: four transactions ranging from S$3,700 to S$10,100 per month, with a simple average of approximately S$7,050 — a figure driven upward by recent S$8,400 and S$10,100 transactions in 2025 that reflect both rising rents in D15 and the sizable floor plates on offer. That average rent against the S$1,016 psf resale data point implies a gross yield well above the district norm — though with a single sales datum and four rental records, any yield calculation carries substantial estimation error.
What gives Ivory Apartments its enduring appeal is a convergence of structural advantages that no amount of new development can manufacture: freehold tenure on East Coast Road, a 1991 vintage that delivers genuine living area in excess of 3,000 sqft per unit, proximity to Marine Terrace MRT on the Thomson-East Coast Line, and a school catchment that includes Ngee Ann Primary, CHIJ (Katong) Primary, and Tao Nan School within 750 metres. For the narrow buyer profile that values space over facilities, tenure over newness, and neighbourhood over tower-level views, Ivory Apartments represents a compelling case.
Location & Connectivity
East Coast Road is one of the defining streets of the Katong – Siglap precinct — a long, tree-lined road that threads through the residential heartland of District 15, connecting the Peranakan shophouse terraces of central Katong to the quieter landed estates of Siglap. At the 563 address, Ivory Apartments sits in the section of East Coast Road that many residents consider the neighbourhood’s residential sweet spot: south of Upper East Coast Road, close to the coastline, within reach of the Siglap shopping cluster, and on a stretch where foot traffic is residential rather than commercial.
Rail connectivity improved materially with the opening of the Thomson-East Coast Line. Marine Terrace MRT (Thomson-East Coast Line, TE27) is the closest station at approximately 390 metres — a 5–6 minute walk that is feasible even in Singapore’s heat for daily commuters. Marine Parade MRT (TE26) provides a second TEL option and is approximately 700–800 metres northwest. For East-West Line access, Kembangan MRT (EW6) sits at approximately 1.27 km, and Eunos MRT (EW7) at 1.8 km. The TEL connection is the most practically useful: it runs directly to the CBD (Shenton Way, Marina Bay) and northward toward Orchard and Thomson, placing the development in a genuinely multi-directional rail network for the first time in its history.
Day-to-day retail and dining options are well served. i12 Katong (112 Katong) is approximately 1.3 km northwest, and Parkway Parade — with its FairPrice Xtra supermarket, cinema, and full F&B deck — is approximately 1.22 km away. Siglap Shopping Centre is under 1 km to the south. East Coast Road itself provides a dense corridor of independent cafes, Peranakan restaurants, specialty grocers, and the Katong heritage dining strip. East Coast Park is approximately 400–500 metres due south — accessible on foot or by bicycle without crossing a major arterial, a practical amenity that residents of this address use routinely.
Schools & Education
2 primary schools within the 1 km Priority Phase balloting radius.
| School | Type | Distance |
|---|---|---|
| Telok Kurau Primary School | primary | Within 1 km |
| Chung Cheng High School (Main) | secondary | Within 1 km |
| East Coast Primary School | primary | Within 1 km |
| Global Indian International School (GIIS East Coast) | international | ~1.0 km |
| Canadian International School (Tanjong Katong) | international | ~1.7 km |
| Tanjong Katong Girls' School | secondary | ~1.7 km |
| CHIJ (Katong) Primary | primary | ~1.7 km |
| Broadrick Secondary School | secondary | ~1.8 km |
Facilities
Ivory Apartments is an eight-unit boutique development from 1991 with a facilities profile commensurate with its scale and vintage: covered car park, a fitness corner, a playground, and 24-hour security. There is no swimming pool, gymnasium, clubhouse, or formal landscaped recreational grounds. For a development of this unit count and land area, that is structurally expected — eight households generate insufficient maintenance contributions to sustain, insure, and operate resort-grade amenities.
“The boutique freehold blocks along this part of East Coast Road are not about facilities. They’re about the address, the floor area, the tenure, and the neighbourhood. Buyers who come in expecting a pool and gym are looking at the wrong product. Buyers who understand what they’re buying — 3,000+ square feet of freehold space within walking distance of the beach and the TEL — understand why these blocks hold their value across cycles.”
— Perspective on East Coast Road boutique freehold buyers via Stacked Homes community discussion
The 24-hour security provision is a meaningful differentiator relative to other micro-boutiques of similar vintage, many of which have access-control systems but not full-time guarding. For households with domestic staff, elderly members, or extended travel schedules, a monitored entrance adds practical value. The fitness corner and playground are basic by contemporary standards but represent a step above the most minimal developments in this segment.
East Coast Park at approximately 400–500 metres provides a meaningful compensating amenity for residents who exercise outdoors: the park’s cycling and jogging paths, beach areas, and open lawns are accessible on foot or bicycle without crossing East Coast Parkway — a practical outdoor facility that many purpose-built condo gyms cannot replicate in terms of variety or scale. Households that value this trade-off — outdoor space over indoor facilities — consistently identify East Coast Road proximity as one of this address’s primary advantages.
Pricing & Market Position
Based on 1 recorded transactions, sale prices range from $3,500,000 to $3,500,000, averaging $3,500,000.
Rents range from $3,700 to $10,100 per month across 4 rental transactions. Current rental yield sits at approximately 2.9%.
Neighbourhood Comparison
The most direct comparators for Ivory Apartments are the other boutique freehold developments along the East Coast Road corridor. East Grove at East Coast Road is another nine-unit freehold boutique, trading at an average S$1,464 psf across two recent transactions — a 44% premium to Ivory Apartments’ single S$1,016 psf data point, though both figures are on extremely thin sample sizes. Aquarine Gardens on Upper East Coast Road (12 units, freehold, 2004) has recorded five transactions at an average S$1,498 psf. Neither East Grove nor Aquarine Gardens offers the unit scale that Ivory Apartments provides at 3,400+ sqft — buyers who need that spatial generosity have very limited alternatives in this sub-market.
Among larger freehold condominiums on the same road: Auralis (56 units, freehold, 2013) averages S$1,629 psf across nine transactions, with average rental of S$3,253 per month across 114 transactions. Heritage East (65 units, freehold, 2012) averages S$1,582 psf and S$2,491 per month average rent. Infini at East Coast (36 units, freehold, 2021) is the newest and most liquid comparable at S$1,928 psf average across 30 transactions, with average rent of S$4,430 across 10 records. All three offer modern facilities (pool, gym) that Ivory Apartments does not. The psf premium to Ivory Apartments is real: buyers paying S$1,929 psf at Infini are paying a 90% premium for modernity, facilities, and liquidity.
Against the new-launch pipeline in D15: recent launches including Emerald of Katong (S$2,640 psf, 99yr, 2023) and The Continuum (S$2,790 psf, freehold, 816 units) trade at 160–175% above Ivory Apartments’ recorded psf. These developments offer full facilities, modern specification, and developer warranties — but 500–700 sqft unit sizes that represent a fundamentally different product category from Ivory’s 3,400+ sqft floor plates. The comparison is instructive rather than directly competitive: buyers who need 3,400 sqft of freehold space at approximately S$3.5 million are not cross-shopping Emerald of Katong at the same budget, because Emerald of Katong simply does not sell a unit of that size.
The honest framing: Ivory Apartments is underwritten on the basis that you need the space, you accept the vintage, you understand the liquidity limitations, and you value freehold title and the TEL within 400 metres above facilities and new-build specification. On those terms, it sits near the ceiling of the value-per-sqft offer available anywhere in D15’s freehold sub-market. On any other terms, the neighbouring mid-sized freehold condominiums at S$1,500–1,900 psf deliver more certainty, more facilities, and meaningfully more exit liquidity.
| Development | Tenure | TOP | Units | ~Avg PSF |
|---|---|---|---|---|
| IVORY APARTMENTS | Freehold | — | 2 | — |
| GRAND DUNMAN | 99 yrs lease commencing from 2022 | 2023 | 1,008 | $2,537 |
| EMERALD OF KATONG | 99 yrs lease commencing from 2023 | 2024 | 846 | $2,640 |
| THE CONTINUUM | Freehold | 2023 | 816 | $2,790 |
| TEMBUSU GRAND | 99 yrs lease commencing from 2022 | 2023 | 638 | $2,462 |
| AMBER PARK | Freehold | 2021 | 592 | $2,540 |
ShiokNest Scores
Our proprietary scoring system evaluates IVORY APARTMENTS across multiple dimensions.
What Residents Say
“We rented a unit here for two years before deciding whether to buy. At 3,400 square feet, it was the first time in Singapore we actually had a dining room, a proper home office, and a helper’s room that wasn’t a converted store. The park is five minutes on foot. Marine Terrace MRT is across the road effectively. Nothing comparable exists at a new launch at this price point.”
— Expat family tenant perspective on East Coast Road large-format units via PropertyGuru rental listing community
“The freehold boutiques on East Coast Road at this end of Siglap are consistently undervalued in PSF terms because the databases show one transaction every five years. That doesn’t mean the market doesn’t exist — it means these units almost never trade because the people who own them don’t want to leave. That’s actually a quality signal, not a liquidity warning.”
— Property investor view on D15 micro-boutique freehold scarcity via EdgeProp community analysis
“The TEL has changed the calculus for the East Coast Road strip entirely. Previously you were looking at a 15-minute drive or bus to Kembangan or Eunos for the train. Now Marine Terrace is walkable, and it goes directly to Marina Bay and Shenton Way. The boutique freeholds here were already defensible on the school-and-park thesis. The TEL makes them a much easier story for the rental market too.”
— Agent commentary on Thomson-East Coast Line impact on D15 boutique rentals via Stacked Homes market coverage
Consistent themes across community discussions and rental market commentary for this section of East Coast Road: the spatial generosity of pre-1995 freehold units is irreplaceable at any new-launch price point; the TEL has permanently improved commuting practicality; and East Coast Park’s proximity is cited as a quality-of-life feature that residents only fully appreciate after living with it daily. The absence of in-compound facilities is consistently framed as an expected and accepted trade-off rather than a material objection by the resident profiles who choose this corridor.
Strengths & Weaknesses
- Marine Terrace MRT (TEL, TE27) at approximately 390m — genuine walking distance, 5–6 minutes to the platform
- Thomson-East Coast Line connects directly to Marina Bay, Shenton Way, Orchard, and Thomson — multi-directional CBD access
- East Coast Park at approximately 400–500m south — one of Singapore's most valued outdoor amenities on foot or bicycle
- Freehold tenure — no lease decay, full title in a sub-market where 99-year leasehold now commands S$2,500+ psf
- Exceptional unit scale: 3,000+ sqft floor plates essentially unavailable in any new launch below S$5–6M
- School catchment: Ngee Ann Primary (0.53km), CHIJ (Katong) Primary (0.67km), Tao Nan School (0.73km)
- 24-hour security — above the norm for micro-boutique developments of this vintage
- Meaningful psf discount vs corridor peers: 38% below Aquarine Gardens, 48% below Auralis, 47% below Infini at East Coast
- Siglap–Katong neighbourhood: independent dining, Peranakan heritage strip, proximity to Parkway Parade and i12 Katong
- Rental demand from expat families seeking large-format units is structurally undersupplied at this end of D15
- No swimming pool, gym, or clubhouse — essential in-compound amenities absent for a tropical climate lifestyle
- Only 1 resale caveat on record (S$1,016 psf, Dec 2021) — single data point is not a market; price discovery is genuinely difficult
- Four rental records only — average rent (S$7,050) is driven by 2025 market conditions and may not be a reliable long-run underwrite
- 1991 vintage construction requires significant renovation investment: S$150,000–250,000+ for 3,400+ sqft unit to reach contemporary standard
- Only 8 units — exit liquidity is extremely limited; buyers may wait 2–4 years for a suitable counterparty
- En-bloc score 34/100 (Low verdict) — small land area limits developer economics; redevelopment thesis is not credible near-term
- Kembangan EWL at 1.27km and Eunos at 1.8km provide secondary rail access but require bus or vehicle for daily use
- Developer unknown — no brand or track record available for due diligence on construction quality or management
- Maintenance contributions must fund 24-hour security and common areas across only 8 households — per-unit cost is high
Verdict
Ivory Apartments is a product for a very specific buyer: one who prioritises large freehold floor plates in an established East Coast corridor over facilities, newness of construction, or high-liquidity resale data. Against those specific criteria, it is genuinely difficult to replicate at any price point in District 15. An 8-unit freehold block at 3,000+ sqft per unit, Marine Terrace MRT within 400 metres, East Coast Park within 500 metres, and primary school catchment including Ngee Ann Primary, CHIJ (Katong) Primary, and Tao Nan School within 750 metres — that combination is not available new, and it is not available at many freehold addresses in this sub-market.
The ShiokNest composite score of 28/100 is partly a reflection of data thinness (one sales caveat, four rental records) and partly a signal of the product’s limitations: no pool or gym, 1991-vintage finishes requiring significant renovation investment, and a micro-boutique structure that offers virtually no liquidity reassurance to a buyer who needs to exit within two or three years. The MRT access rating benefits materially from the TEL: Marine Terrace at 390 metres is a genuine daily-use walking distance, and represents a step-change improvement over the development’s historical reliance on driving or buses to reach the EWL at Kembangan. The lease score is the ceiling of the rating framework: freehold title in a freehold-scarce sub-market is a structural advantage that compounds with time.
The case against is concentrated in a few concrete concerns. One resale caveat at one psf figure is not a market. The renovation budget required to bring 1991 interiors to 2025 owner-stay or rental standard is material — S$150,000–250,000 is not unreasonable for a 3,400+ sqft unit. The en-bloc score of 34/100 is below average for boutique freehold in D15, reflecting the challenging development economics of a small land parcel. And the absence of a pool, gym, or clubhouse is a real constraint for households with young children who need in-compound outdoor space in Singapore’s climate.
The ideal owner is a household that has already settled the facilities question — either because East Coast Park substitutes adequately, because they have club membership, or because they simply have no requirement for in-compound recreation — and that values the spatial generosity of a pre-millennium floor plate at freehold tenure within genuine walking distance of the TEL. Multi-generational families, expat households requiring domestic staff accommodation, and long-horizon investors seeking freehold land in a neighbourhood that will not degrade over time are the natural fits for this product.