Casa Pasir Ris
Overview & Key Facts
Casa Pasir Ris is a boutique low-rise condominium at Jalan Loyang Besar in District 17 — a quiet, largely car-dependent stretch of Singapore’s far east. Developed by Tat Lee Bank Land Limited and completed in 1997, it comprises just 58 units across low-rise blocks, giving it a private, landed-enclave character that is increasingly rare in Singapore. The development sits well removed from the central region and, on paper at least, occupies a pleasant leafy setting near Pasir Ris Park.
But Casa Pasir Ris cannot be reviewed as a conventional condominium. Its defining characteristic — the one that must precede any discussion of facilities, unit layout, or rental yield — is the lease situation. The development was built on a 946-year lease commencing from 1938. That sounds like near-permanence, but the maths is brutal: with only approximately 11 years remaining before expiry around 2037, Casa Pasir Ris is, for all practical purposes, a short-tenure asset expiring within the decade.
With 18 total sales recorded and 45 rental transactions, Casa Pasir Ris has a thin but active market that is driven almost entirely by two groups: en-bloc speculators who believe a collective sale is achievable before lease expiry, and cash-rich investors chasing the 3.26% gross yield without needing CPF or bank financing. For everyone else, this development is off the table by regulatory necessity.
Location & Connectivity
Jalan Loyang Besar is a residential back-road in the Pasir Ris–Loyang corridor, surrounded largely by private landed housing and low-density development. The setting is genuinely leafy and quiet — a contrast to the busy HDB estates further west in Pasir Ris. Pasir Ris Park, one of Singapore’s most popular coastal parks with its mangrove boardwalk and beach, is within a few minutes by car. Elias Mall, a modest neighbourhood mall, is the nearest retail node, though Pasir Ris MRT and White Sands Mall are meaningfully further.
The honest walkability picture: 17 out of 100. This is among the lowest walkability scores in the ShiokNest database and reflects real daily life. There are no hawker centres, supermarkets, or MRT stations within a comfortable walking radius. Getting anywhere meaningful — White Sands, Pasir Ris MRT, Changi Business Park — requires a car or a multi-bus journey. Pasir Ris MRT (East-West Line) is over 2 km away, and even by bus, the journey involves a wait and transfer.
For drivers, the TPE and ECP provide access to Changi Business Park (~10 minutes), Changi Airport (~15 minutes), and the CBD (~30–35 minutes off-peak). The Changi employment cluster is the clearest fit for car-owning residents. Nearby schools include Pasir Ris Crest Secondary (1.48 km), Meridian Primary (1.51 km), Pasir Ris Primary (1.55 km), and Elias Park Primary (1.63 km) — though for a development with only 11 years remaining on its lease, school proximity has limited relevance to the buyer decision.
Schools & Education
| School | Type | Distance |
|---|---|---|
| Pasir Ris Crest Secondary School | secondary | ~1.5 km |
| Meridian Primary School | primary | ~1.5 km |
| Stamford American International School | international | ~1.5 km |
| Pasir Ris Primary School | primary | ~1.6 km |
| Meridian Secondary School | secondary | ~1.6 km |
| Elias Park Primary School | primary | ~1.6 km |
| Brighton College (Singapore) | international | ~1.7 km |
| Pasir Ris Secondary School | secondary | ~1.7 km |
Facilities
As a 58-unit boutique development completed in 1997, Casa Pasir Ris offers the basic condominium amenity set typical of its era: a swimming pool, gymnasium, and landscaped communal grounds. The low unit count means the facilities-to-resident ratio is reasonable — you will not queue for the pool on a weekend morning — but the amenity breadth is limited compared to larger or newer developments in the area.
“It’s a small, quiet condo. Good for people who want peace and privacy. Facilities are basic but never crowded. The surroundings are very green and relaxed.”
— Resident feedback via PropertyGuru
There is no tennis court, function room, or children’s play area of note. The 1997 vintage means facilities and common-area finishes are dated by contemporary standards. Maintenance is the critical unknown: with a lease expiring in approximately 11 years, the question of how aggressively the management committee will invest in upgrading common areas is live. Prospective buyers should request MCST financial statements and pending works schedules — deferred maintenance in the final decade of a lease can accelerate value erosion.
“Good pool area and greenery. Being small, it’s very private and the neighbours all know each other. But there’s no avoiding the lease situation — everyone in the development is aware of it and watching the en-bloc news.”
— Long-term resident, via 99.co
Unit Sizes & Layout
Built in 1997, Casa Pasir Ris offers unit sizes consistent with the generous floor-plate norms of that era. Singapore developers in the late 1990s were not yet applying the aggressive unit-shrinkage strategies that define contemporary new launches — buyers at that time received meaningful space for their dollar. Units at Casa Pasir Ris are predominantly 3- and 4-bedroom configurations in the 1,200–1,800 sqft range, providing genuine family living space that most modern 3-bedroom units at 900–1,100 sqft cannot match.
The low-rise layout across 58 units creates a landed-like atmosphere: no lift lobbies packed with strangers, no high-rise vertigo, no noise from dozens of neighbours on shared corridors. For buyers accustomed to private landed properties who want some condominium services without the full landed commitment, the scale is a genuine draw. Interior finishes are 1990s vintage and will require modernisation — budget for a renovation spend if purchasing.
Despite the lease position, recent average transaction prices of approximately S$1,320,205 (median S$1,288,800) translate to average PSF that has trended upward: from around S$922 per sqft four years ago to S$1,162 per sqft recently. This rising price trend does not reflect improving fundamentals — it reflects en-bloc speculation compressing into a shorter and shorter window as the lease clock ticks down.
| Bedrooms | Transactions | Avg PSF | Avg Price |
|---|---|---|---|
| 1 BR | 1 | $1,253 | $715,000 |
| 3 BR | 11 | $1,021 | $1,214,608 |
| 4 BR | 4 | $1,059 | $1,488,250 |
| 5 BR | 2 | $792 | $1,867,500 |
Pricing & Market Position
Based on 18 recorded transactions, sale prices range from $715,000 to $1,935,000, averaging $1,320,205.
Rents range from $1,750 to $5,300 per month across 45 rental transactions. Current rental yield sits at approximately 3.3%.
Price Appreciation
From 2021 to 2025, the average PSF has appreciated by 26% (from $922 to $1,162 psf).
Neighbourhood Comparison
No conventional comparison is truly fair to Casa Pasir Ris because it occupies a different asset category entirely. Within the D17 Changi–Pasir Ris leasehold corridor, the conventional 99-year alternatives illustrate just how anomalous the Casa Pasir Ris situation is. Coastal Cabana (S$1,790 psf, 99-year lease, 748 units) offers MRT proximity, full CPF access, and mainstream bank financing at a higher psf — but buyers receive approximately 88 years of remaining lease, not 11. The Jovell (S$1,394 psf, 99-year lease, 428 units) is a newer development with similar low-rise character and better beach proximity, also with full CPF and financing access.
Hedges Park (S$1,151 psf, 99-year lease, 501 units) and Kassia (S$2,032 psf, freehold, 276 units) bracket the market at the value and premium ends respectively. Both are accessible to the full universe of buyers using CPF and bank financing. Parc Komo (S$1,627 psf, freehold, 276 units) is the aspirational freehold boutique option in the same general corridor, with integrated retail and resort facilities.
The only meaningful comparison for Casa Pasir Ris is to other end-of-lease assets in Singapore: Riverwalk Apartments in Clarke Quay and International Plaza in Tanjong Pagar are the best-known examples of this category. In those cases, the prime District 1 and District 2 locations generated intense developer interest and ultimately delivered en-bloc proceeds that rewarded patient cash investors. Casa Pasir Ris is in District 17 — a valid but less combustible en-bloc market. The speculative case is plausible; it is not guaranteed.
| Development | Tenure | TOP | Units | ~Avg PSF |
|---|---|---|---|---|
| CASA PASIR RIS | 946 yrs lease commencing from 1938 | 1997 | 58 | — |
| COASTAL CABANA | 99 years leasehold | 2026 | 748 | $1,791 |
| THE JOVELL | 99 yrs lease commencing from 2018 | 2021 | 428 | $1,395 |
| KASSIA | Freehold | 2024 | 276 | $2,032 |
| HEDGES PARK CONDOMINIUM | 99 yrs lease commencing from 2010 | 2014 | 501 | $1,153 |
| PARC KOMO | Freehold | 2021 | 276 | $1,628 |
Lease Decay Analysis
The 99-year lease runs from 1938, meaning approximately 88 years have already been consumed. Roughly 11 years remain.
| Year | Lease remaining | Implication |
|---|---|---|
| 2026 (now) | ~11 years | CPF restrictions may apply |
| 2037 | Expiry | Lease reverts to state |
ShiokNest Scores
Our proprietary scoring system evaluates CASA PASIR RIS across multiple dimensions.
What Residents Say
“I bought here knowing the lease situation. It’s a very peaceful place to live — small community, green surroundings, never crowded. But every year at the AGM, the en-bloc question comes up. We are watching and waiting. The hope is a collective sale within the next few years while there is still meaningful value for owners to capture.”
— Owner-occupier, via PropertyGuru
“The place itself is nice — quiet, private, good-sized units, no noise. If you have a car and work in Changi or the east, the location works. But you absolutely cannot rely on CPF or a bank loan here. This is a cash transaction and everyone knows it. The en-bloc potential is the only reason anyone is buying at current prices.”
— Investor-buyer comment via HardwareZone Property Forum
“The rental yield is decent for the east — we get about S$3,200–S$3,500 per month for the larger units. Tenants don’t care about the lease, they just want a quiet place with space. But as an owner you have to be honest: the exit timeline is what it is.”
— Landlord-investor, via 99.co
The resident community at Casa Pasir Ris is small, tight-knit, and almost uniformly aware of the lease clock. Conversations at AGMs are dominated by collective sale progress, legal advisors, and reserve prices — not facilities upgrades or landscaping budgets. This is the natural atmosphere of a development in its end-of-lease phase. For those who enjoy a quiet, private living environment and can compartmentalise the existential lease question, day-to-day life at Casa Pasir Ris is genuinely peaceful. But the financial tension is ever-present.
Strengths & Weaknesses
- En-bloc score 69/100 — collective sale is the primary investment thesis; achievable with a 58-unit owner pool
- Profitability score 86/100 — existing owners who bought sub-$900 psf have generated strong historical gains
- Rising PSF trend (S$922 to S$1,162 over 4 years) reflects en-bloc speculation pricing into current values
- Boutique 58-unit scale — landed-like privacy, no crowded lift lobbies or bustling common areas
- Generous 1990s-era unit sizes — spacious 3- and 4-bedroom configurations compared to modern equivalents
- Gross yield 3.26% on cash purchase — no financing cost drag if purchased outright
- Peaceful Jalan Loyang Besar setting — green, quiet, surrounded by low-density landed housing
- Small owner community — easier collective-sale consensus than mega-developments
- CRITICAL: Approximately 11 years remaining on lease — expires ~2037
- CPF usage fully blocked — MAS prohibits CPF for properties with less than 30 years remaining
- Bank financing severely restricted — most lenders will not mortgage sub-20-year lease properties
- Cash-only purchase — eliminates the majority of potential buyers and severely restricts resale market
- No MRT within walking distance — Pasir Ris MRT over 2 km; car ownership is mandatory
- Walkability score 17/100 — among the lowest in the ShiokNest database; daily errands require driving
- En-bloc is speculative, not guaranteed — D17 location generates less developer urgency than prime districts
- Maintenance investment risk — MCST may defer major works knowing the lease end-date
- Renovation spend hard to justify — payback horizon constrained by ~2037 expiry
- Resale pool extremely limited — only cash buyers eligible, narrowing future exit options dramatically
Verdict
Casa Pasir Ris is not a property for conventional buyers. Let us be direct about what it is: an end-of-lease asset whose current market is sustained almost entirely by en-bloc speculation and a niche cohort of cash-rich yield investors. The rising PSF trend from S$922 to S$1,162 over four years is not a sign of underlying demand for a 1997 low-walkability boutique condo — it is the market pricing in the probability of a collective sale before lease expiry.
The en-bloc score of 69/100 is the central number here. In practical terms, a 58-unit development needs consent from 80% of owners (by share value) to proceed with a collective sale. With a small owner pool, achieving consensus is theoretically easier than at a 500-unit mega-development — but the time pressure is acute. Every year that passes without an en-bloc approval narrows the viable sale window. By the late 2020s, even a successful en-bloc will return declining values as developers price the shorter development timeline into their bids.
“This is a niche play. You’re not buying this for school proximity or MRT convenience. You’re buying it because you believe a collective sale happens within 5–7 years and the en-bloc proceeds exceed what you paid in cash. If that doesn’t happen, your asset is depreciating toward zero. High risk, potentially high reward — but not for everyone.”
— Property analyst commentary, SRX forum
Comparable cases in Singapore’s market — Riverwalk Apartments (around 45 years remaining), International Plaza (around 43 years remaining), and a handful of Geylang and city-fringe leasehold developments with sub-30-year leases — illustrate both the risk and the occasional reward. Some achieved successful collective sales; others saw owners sit through a decade of declining asset value. Casa Pasir Ris’s D17 location adds another variable: the Loyang area is not a prime redevelopment zone with the same en-bloc fever as Tanglin, Newton, or Buona Vista.
The profitability score of 86/100 is historically accurate: existing owners who bought in the 2010s at sub-S$900 psf have made meaningful gains. But that era of appreciation is ending. The window for profitable exit is narrowing, and the exit options available to the next buyer are severely constrained — no CPF, no bank financing, cash only, resale pool limited to the same restricted universe of cash buyers. Anyone entering now is making a speculative bet, not a property investment in the conventional sense.