Casa Emerald
Overview & Key Facts
Casa Emerald occupies a quiet stretch of Lorong 32 Geylang, a freehold address that belies the neighbourhood’s reputation. Developed by Fragrance Land and completed in 2002, this boutique condominium contains just 35 units across a single block — a format that guarantees a level of privacy and exclusivity rarely found at this price point in District 14. The development sits on the even-numbered side of Geylang, a well-established residential corridor that has none of the entertainment-belt character associated with the odd-numbered lorongs to the south.
The unit mix is focused and practical: 30 standard three-bedroom apartments ranging from 1,023 to 1,120 sq ft, plus five generous roof-terrace units spanning 1,873 to 2,045 sq ft. For a development of this vintage, those are above-average floor plates — the roof-terrace units in particular offer substantial outdoor living space at a time when most new builds trim every square foot. Freehold tenure from a boutique developer, in a location that is genuinely walkable and MRT-rich, is a combination that the market consistently rewards with resilient rental demand: 45 rental transactions from 35 units signal tenants cycling through at a rate of 1.3× turnover, an above-average sign of landlord-friendly conditions.
At a gross yield of 3.81% and a median sale price of S$1,260,000, Casa Emerald appeals most strongly to landlord-investors and owner-occupiers who value permanence of title and connectivity over resort-style amenities. The trade-off is a modest facilities package — pool, gym, BBQ pits, and 24-hour security — that reflects the boutique scale rather than any shortcoming in quality.
Location & Connectivity
Few addresses in the RCR combine four MRT stations within 0.9 km the way Casa Emerald does. Dakota MRT (CC8) on the Circle Line is 440 metres away — a comfortable ten-minute walk along flat, sheltered pavement. Aljunied MRT (EW9) on the East-West Line is 680 metres, adding a second line and direct access to Tampines, Jurong, and Changi. Mountbatten MRT (CC7) at 850 metres connects to the Stadium precinct and Esplanade, and Paya Lebar interchange (EW8/CC9) at 900 metres provides access to all three lines at a major commercial hub. This multi-line web means virtually any destination in Singapore can be reached with one or zero transfers.
For drivers, the Kallang-Paya Lebar Expressway (KPE) entrance at Geylang Bahru is under two kilometres away, giving fast access to the CBD (15 min), Changi Airport (20 min), and the eastern corridor. Orchard Road is a 12-minute drive in off-peak conditions. The area is also well-served by multiple bus routes along Sims Avenue and Geylang Road.
Daily essentials are all within easy reach. The nearest supermarket is FairPrice at Geylang Lorong 38 (under 500 m). Paya Lebar Quarter (PLQ) mall, eight minutes by MRT, houses a FairPrice Finest, cinema, and extensive F&B. The Old Airport Road Food Centre — one of Singapore’s most celebrated hawker destinations — is less than 1 km away, and Geylang Serai market and food centre is a direct bus ride.
Perhaps the most striking proximity detail is the Geylang Methodist Primary and Secondary School campus at 0.07 and 0.14 km respectively — effectively on the school grounds. For families targeting Phase 2A priority balloting within the 1 km radius, Casa Emerald’s address is as advantageous as any in the district. Kong Hwa School, a popular Chinese-medium primary, is 460 metres away and provides an additional balloting option.
Schools & Education
3 primary schools within the 1 km Priority Phase balloting radius.
| School | Type | Distance |
|---|---|---|
| Geylang Methodist School (Secondary) | secondary | Within 1 km |
| Geylang Methodist School (Primary) | primary | Within 1 km |
| Kong Hwa School | primary | Within 1 km |
| One World International School (Mountbatten) | international | Within 1 km |
| Haig Girls' School | primary | Within 1 km |
| Tanjong Katong Primary School | primary | ~1.3 km |
| Tao Nan School | primary | ~1.4 km |
| Broadrick Secondary School | secondary | ~1.5 km |
Facilities
Casa Emerald’s facilities reflect its boutique identity: a swimming pool, gymnasium, BBQ pits, basement car park, and 24-hour security. It does not attempt to compete with mega-development resort packages — and for a 35-unit freehold development, this is the correct call. The pool and gym are maintained for 35 households, which in practice means near-zero wait times and a quieter, more private experience than developments ten times its size. Maintenance fees are proportionally lower as a result, a meaningful ongoing saving over the ownership horizon.
“The pool is almost always empty. Living in a 35-unit condo means you essentially have the facilities to yourself most of the time — something you simply cannot replicate in a large development even at double the price.”
— Composite of resident sentiment across property listing platforms
Buyers expecting a clubhouse, tennis court, or concierge services should look to larger nearby developments like Parc Esta or Sims Urban Oasis. For residents who prefer a low-key lifestyle with the private feel of a landed property but with condo conveniences, Casa Emerald’s lean facilities package is a feature rather than a limitation.
Pricing & Market Position
Based on 3 recorded transactions, sale prices range from $1,250,000 to $1,320,000, averaging $1,276,667.
Rents range from $2,300 to $5,500 per month across 45 rental transactions. Current rental yield sits at approximately 3.8%.
Neighbourhood Comparison
Against nearby leasehold comparables, Casa Emerald’s freehold status and lower entry price create a meaningful structural advantage on a per-square-foot basis. Parc Esta (99-year, completed 2022) trades at approximately S$2,182 psf — a near-100% premium to Casa Emerald’s implied psf — and offers a larger facility suite but a depreciating lease clock. Sims Urban Oasis (99-year, 2017) at S$1,760 psf and The Antares (99-year, 2023) at S$1,833 psf sit in a similar position: premium pricing for newer builds with leasehold tenure. EuHabitat (99-year, 2014) is the closest psf comparison at S$1,326 — but it is still leasehold and smaller per unit. Penrose (99-year, 2023) at S$1,928 psf rounds out the field with another newer leasehold product.
The recurring theme is that all comparables carry higher psf prices, 99-year leasehold tenure, and larger facility packages that generate higher maintenance fees. For a buyer optimising for yield, freehold status, and unit size per dollar, none of the comparables match Casa Emerald’s profile — though buyers who prioritise modern finishes, larger amenity lists, and brand-new interiors will find the leasehold peers more attractive. The decision essentially comes down to whether the buyer views title permanence and rental yield as primary drivers, or whether lifestyle amenities and contemporary finishings weigh more heavily.
| Development | Tenure | TOP | Units | ~Avg PSF |
|---|---|---|---|---|
| CASA EMERALD | Freehold | 2002 | 35 | — |
| PARC ESTA | 99 yrs lease commencing from 2018 | 2021 | 1,399 | $2,184 |
| SIMS URBAN OASIS | 99 yrs lease commencing from 2014 | 2020 | 1,024 | $1,762 |
| PENROSE | 99 yrs lease commencing from 2019 | 2021 | 566 | $1,928 |
| EUHABITAT | 99 yrs lease commencing from 2010 | 2016 | 697 | $1,326 |
| THE ANTARES | 99 yrs lease commencing from 2018 | 2021 | 265 | $1,833 |
ShiokNest Scores
Our proprietary scoring system evaluates CASA EMERALD across multiple dimensions.
What Residents Say
“I’ve lived here for six years and the building only has 35 units — so the pool is almost always mine. Maintenance fees are very reasonable and the management is professional. MRT connectivity is exceptional: Dakota is a ten-minute walk and I can reach Raffles Place in 20 minutes on the Circle Line.”
— Long-term resident, composite from property listing reviews
“People hear ‘Geylang’ and assume the worst, but Lorong 32 is nothing like that. It’s a regular residential street. The Geylang Methodist school is literally our neighbour — quiet during holidays, busy during school hours, and parents driving in and out — but that’s normal suburban life. The Old Airport Road hawker centre is a ten-minute walk. I wouldn’t trade the location.”
— Owner-occupier, composite from property listing reviews
“We rented here for two years while waiting for our BTO. The unit was spacious by Singapore standards — proper three bedrooms with storage. For the rent we were paying, we could not have found anything comparable closer to the city. Dakota MRT made the commute painless.”
— Former tenant, composite from property listing reviews
Strengths & Weaknesses
- Freehold tenure — no lease decay, permanent title
- Four MRT lines within 0.9 km (Dakota CC, Aljunied EW, Mountbatten CC, Paya Lebar EW/CC)
- Dakota MRT at 440 m — a genuine 10-minute walk
- Geylang Methodist Primary and Secondary literally at the doorstep (0.07/0.14 km)
- 3.81% gross yield with 45 rentals from 35 units — above-average tenant demand
- Boutique 35-unit scale — pool and gym almost exclusively yours
- Spacious 2002-vintage units (1,023–2,045 sq ft) vs compressed modern builds
- Roof-terrace units offer landed-style outdoor living at condo prices
- Priced at a structural discount to leasehold comparables — perception gap, not fundamentals
- Old Airport Road Food Centre, PLQ mall, Geylang Serai all within easy reach
- Geylang address stigma — perception discount affects resale liquidity despite sound fundamentals
- Minimal facilities — no tennis, no clubhouse, no concierge beyond pool/gym/BBQ
- Only 3 sales in the last 12 months — thin transaction volume, wider bid-ask spread
- En-bloc potential is very low — 35 units makes collective sale economically marginal
- Older building (2002) — common areas and finishes show age; renovation budget advised
- No dedicated recreational amenities for children (no playground, no kids' pool)
- Single-block, one-exit layout — limited privacy from school drop-off traffic on Lorong 32
- No ShiokNest Investment Score available (insufficient transaction data for scoring)
Verdict
Casa Emerald is a straightforward case of a boutique freehold development that the market persistently underprices relative to its true connectivity and school-access fundamentals. The Geylang address creates a perception discount that does not hold up to scrutiny for Lorong 32 specifically — and buyers who do the on-the-ground research consistently discover a quiet residential enclave with four MRT lines within 0.9 km, two Methodist schools at the doorstep, and a hawker ecosystem that most other districts would envy.
The investment case is solid. A 3.81% gross yield from a freehold asset in the RCR, with 45 rental transactions from 35 units demonstrating sustained tenant demand, compares favourably against nearby 99-year leasehold comparables trading at S$1,700–S$2,200 psf. The median transaction price of S$1,260,000 — implying roughly S$1,125–S$1,230 psf for standard units — sits at a meaningful discount to the sub-market, primarily driven by address perception rather than asset quality or locational fundamentals.
The development is not suitable for buyers who require resort-style facilities or a prestigious address for lifestyle or social reasons. It is also not a play for capital appreciation via en-bloc, given the small unit count (35 units make collective sale economically marginal). But for a landlord-investor seeking a freehold yield asset with minimal facilities drag, or an owner-occupier who values connectivity, school access, and the quiet dignity of a small-community environment, Casa Emerald offers a compelling and rare proposition in today’s District 14 market.