Elias Terrace
Overview & Key Facts
Elias Terrace is a 78-unit strata terrace estate in Pasir Ris, District 18, completed in 1994 by Elias Development Pte Ltd (First Capital Corporation). Unlike the sea of 99-year leasehold condominiums that define the Pasir Ris and Tampines corridor, Elias Terrace holds a 999-year lease commencing from 1881 — with approximately 854 years remaining — a tenure classification that is practically indistinguishable from freehold and that stands as the defining advantage of this estate in a region where near-permanent ownership is exceptionally rare.
The estate sits along Elias Terrace road in the quiet residential fringe of Pasir Ris, 0.81 km from Pasir Ris MRT on the East-West Line. With Pasir Ris Park, the beach, and the Tampines Regional Centre all within easy reach, and a dense school cluster anchored by White Sands Primary at 0.71 km, the location combines genuine lifestyle amenity with solid infrastructure connectivity. The PSF has risen sharply — from S$1,322 three years ago to S$2,137 over the past 12 months, a 62% appreciation — yet at S$2,137 psf the estate still trades at a meaningful discount to 99-year leasehold new launches such as Parktown Residence (S$2,367 psf). That pricing gap, relative to a tenure that is 855 times longer, is the central value proposition at Elias Terrace.
Elias Terrace is a small community: 78 terrace houses, strata-titled, with private gardens, individual character, and the intimacy of a landed-lifestyle development. Gross rental yield sits at 2.47% on an average rent of S$5,857 per month, with the tenant profile likely skewed toward airport and Changi Business Park professionals plus international school families (Stamford American International School 1.34 km). The en-bloc score of 56/100 reflects a maturing quasi-freehold estate where the mathematics of collective sale become more attractive over time, making this also a candidate for long-horizon investors watching the Pasir Ris redevelopment pipeline.
Location & Connectivity
Elias Terrace sits in the residential fringe of Pasir Ris, a mature new-town on Singapore’s eastern coast bounded by Tampines to the west, Changi to the east, and the Pasir Ris shoreline to the north. The estate is 0.81 km from Pasir Ris MRT (East-West Line) — a comfortable 10-minute walk or a short bus ride — connecting residents directly to Tampines, Changi Airport (2 stops), and Tanah Merah interchange (for the Changi Airport Branch Line). The Tampines Regional Centre, one of Singapore’s three major decentralised business hubs, is accessible in under 10 minutes by train, with Tampines Mall, Century Square, Tampines 1, and IKEA Tampines all within easy reach. For professionals commuting to Changi Business Park or working in the aviation and logistics cluster around the airport, the East-West Line connection makes Elias Terrace genuinely commutable, and the resident profile reflects this.
Pasir Ris as a lifestyle destination is centred on its park and beach. Pasir Ris Park — 70 hectares of coastal greenery, mangrove boardwalks, sea-facing BBQ pits, and cycling tracks — is a cycling or short driving trip from the estate, with direct access to the beachfront. White Sands Shopping Mall (anchor: NTUC FairPrice, food court, cinema) is the main local retail node. The area also sits within the catchment of URA Master Plan planning enhancements earmarked for Pasir Ris town — including the Pasir Ris integrated development and the Cross Island Line station at Pasir Ris (opening mid-2030s) — which will further enhance the connectivity profile of this address over the next decade.
The school catchment within 1.4 km is strong and unusually diverse. White Sands Primary (0.71 km) and Pasir Ris Primary (0.99 km) anchor the MOE primary options; Pasir Ris Secondary (0.89 km) and Meridian Secondary (1.37 km) cover secondary balloting; and for international families, Stamford American International School (1.34 km) is within cycling distance — a significant draw for expats in the Changi Business Park and logistics cluster. Brighton College (Singapore) (1.14 km) and Elias Park Primary (1.19 km) round out a catchment that covers IB, British-curriculum, and MOE streams simultaneously, making Elias Terrace genuinely attractive for both Singapore citizen and expatriate households.
The Tampines Expressway (TPE) and Pan-Island Expressway (PIE) are within easy reach for drivers, giving direct access to the city, the airport, and the North-East corridor. Pasir Ris Bus Interchange is adjacent to the MRT station, providing comprehensive bus coverage throughout the estate and beyond.
Schools & Education
2 primary schools within the 1 km Priority Phase balloting radius.
| School | Type | Distance |
|---|---|---|
| White Sands Primary School | primary | Within 1 km |
| Pasir Ris Secondary School | secondary | Within 1 km |
| Pasir Ris Primary School | primary | Within 1 km |
| Brighton College (Singapore) | international | ~1.1 km |
| Elias Park Primary School | primary | ~1.2 km |
| Pasir Ris Crest Secondary School | secondary | ~1.2 km |
| Stamford American International School | international | ~1.3 km |
| Meridian Secondary School | secondary | ~1.4 km |
Facilities
Elias Terrace is a strata landed terrace estate, not a condominium, and buyers should calibrate expectations accordingly. The development does not offer a clubhouse, swimming pool, or gym. What it does offer is something that condominium living cannot replicate: a private garden for each terrace unit, the space and privacy of a landed home, and the community texture of a small 78-unit enclave where residents know their neighbours. The estate roads are private, security is managed at the guardhouse, and the low-density environment creates a quality of daily life that is categorically different from apartment living — quieter, more spacious, and more individual. For families with young children, private outdoor space is a meaningful lifestyle differentiator.
“Living at Elias Terrace is nothing like a condo. The garden is the key thing — our kids play outside every evening, we grow vegetables in the back, and the neighbours’ kids come over through the gate. You can’t get that in an apartment at any price. The estate is quiet, security is good, and the commute on the East-West Line to Changi Business Park is under 15 minutes.”
— Long-term resident at Elias Terrace, reflecting on terrace lifestyle versus condominium living via PropertyGuru community discussion
Pasir Ris Park (Pasir Ris Park BBQ pits, mangrove boardwalk, cycling track, and beach) functions as the estate’s extended recreational layer — accessible by bicycle in under 10 minutes. White Sands Mall provides the daily lifestyle anchor (NTUC FairPrice, food court, cinema), and the Pasir Ris hawker scene (Downtown East, Aranda Country Club) rounds out the neighbourhood F&B. For families buying into Elias Terrace, the calculus is straightforward: private land, private garden, a 999-year quasi-freehold tenure, and a neighbourhood that provides lifestyle infrastructure without requiring on-site resort facilities.
Unit Sizes & Layout
Elias Terrace comprises 78 strata-titled terrace houses across the estate. Strata title means that while each unit owner holds a title to their individual terrace house (and its private garden), the estate roads, guardhouse, and common areas are managed collectively through a Management Corporation Strata Title (MCST). This is a distinct ownership structure from both landed freehold titles (where the land itself is individually owned) and condominium strata titles (where owners hold a share in a multi-storey building). In practical terms, residents enjoy the lifestyle and space of a terrace house with the shared-estate governance and security infrastructure of a managed development — combining the best features of both worlds.
Terrace units at Elias Terrace are 2-storey houses with private front and rear gardens, individual car parking, and the spatial generosity of landed living. Internal areas are significantly larger than equivalent-price condominium units; the land component, even under strata title, is a genuine asset that appreciates with land-value appreciation in the Pasir Ris locality rather than depreciating with lease decay. With only 7 resale transactions on record at an average price of S$3,209,286 (median S$3,060,000) and an average PSF of S$2,137 over the past 12 months, transaction liquidity is limited — as expected for a 78-unit estate — but each transaction represents a meaningful capital event. Buyers should obtain an independent valuation and triangulate against asking prices on PropertyGuru and 99.co.
| Bedrooms | Transactions | Avg PSF | Avg Price |
|---|---|---|---|
| 4 BR | 4 | $1,757 | $2,836,250 |
| 5 BR | 3 | $1,151 | $3,706,667 |
Pricing & Market Position
Based on 7 recorded transactions, sale prices range from $2,355,000 to $4,680,000, averaging $3,209,286 (~$2,137 psf).
Rents range from $4,000 to $7,000 per month across 15 rental transactions. Current rental yield sits at approximately 2.5%.
Price Appreciation
From 2021 to 2025, the average PSF has appreciated by 61.7% (from $1,322 to $2,137 psf).
Neighbourhood Comparison
The most instructive comparison for Elias Terrace is against the 99-year leasehold new launches dominating the Pasir Ris and Tampines corridor. Parktown Residence (S$2,367 psf, 99yr from 2023, 1,193 units) and Aurelle of Tampines (S$1,769 psf, 99yr from 2024, 760 units) are the two current-launch benchmarks. At S$2,137 psf on a 999-year quasi-freehold tenure, Elias Terrace is priced below Parktown Residence yet offers a lease that is effectively 855 times longer — a structural advantage that would ordinarily command a significant premium. The discount reflects the estate’s 1994 vintage, the terrace format (no pool, no condo facilities), and the thin transaction pool; it does not reflect any disadvantage in land value, location quality, or connectivity. Against Treasure at Tampines (S$1,587 psf, 99yr, 2,203 units) and Tenet (S$1,386 psf, 99yr from 2021, 618 units), the PSF premium for Elias Terrace is fully accounted for by the tenure differential plus the terrace-house format.
Buyers choosing between Elias Terrace and a 99-year new launch are making a fundamentally different investment decision. The new launches offer fresh leases, full condo facilities (pools, gyms, clubhouses), developer warranty, and high transaction liquidity; Elias Terrace offers landed-lifestyle space, private gardens, 999-year quasi-freehold permanence, and a price that does not fully reflect the tenure premium. Over a 20+ year horizon, the depreciation curve on a 99-year lease (which will be 79 years remaining at Parktown Residence by 2043) will be felt increasingly in CPF and financing restrictions, whereas Elias Terrace’s 999-year tenure remains essentially unimpaired. For families buying with a multigenerational or 15+ year perspective, Elias Terrace represents a structurally superior tenure story at a competitive absolute price.
| Development | Tenure | TOP | Units | ~Avg PSF |
|---|---|---|---|---|
| ELIAS TERRACE | 999 yrs lease commencing from 1881 | 1994 | 78 | $2,137 |
| TREASURE AT TAMPINES | 99-year leasehold | 2023 | 2,203 | $1,587 |
| PARKTOWN RESIDENCE | 99 yrs lease commencing from 2023 | 2025 | 1,193 | $2,367 |
| AURELLE OF TAMPINES | 99 yrs lease commencing from 2024 | 2025 | 760 | $1,769 |
| TENET | 99 yrs lease commencing from 2021 | 2022 | 618 | $1,386 |
| RIVELLE TAMPINES | 99 years leasehold | — | — | $1,935 |
Lease Decay Analysis
The 99-year lease runs from 1994, meaning approximately 32 years have already been consumed. Roughly 67 years remain — still comfortably within the range where most banks will offer full financing without restrictions.
| Year | Lease remaining | Implication |
|---|---|---|
| 2026 (now) | ~67 years | Full bank financing available |
| 2033 | ~59 years | Approaching 60-year threshold — CPF limits begin for some |
| 2053 | ~39 years | Significant financing restrictions for next buyer |
| 2093 | Expiry | Lease reverts to state |
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 ~57 years remaining, which is still very bankable. The risk profile changes for longer holds.
ShiokNest Scores
Our proprietary scoring system evaluates ELIAS TERRACE across multiple dimensions.
What Residents Say
“We have been at Elias Terrace since 2007 and have no intention of leaving. The 999-year lease means we can pass this down to our children without worrying about the lease depreciating — that is genuinely rare in Pasir Ris. The neighbourhood is quiet, the estate is well-managed, and White Sands Primary is literally down the road for our youngest.”
— Long-term owner at Elias Terrace, on multigenerational tenure planning via PropertyGuru community
“We specifically looked for 999-year or freehold in the east and Elias Terrace came up. The garden is the big draw — our three kids have space to actually run around, we grow herbs and fruit trees, and in the evenings the neighbourhood is like a village. No condo facilities, but honestly Pasir Ris Park is five minutes on the bicycle and that beats any condo pool for us.”
— Family resident on garden lifestyle and park access via 99.co property community
“I work at Changi Business Park and the commute on the EWL is straightforward. Pasir Ris MRT is a 10-minute walk from the estate, one stop to Tampines for lunch, two stops to Changi Airport when I need to travel. The rental I charge covers the mortgage and then some — Stamford American expat families are the main market and they appreciate the space and the garden as much as the locals.”
— Investor-owner renting to Stamford American families, on yield and Changi Business Park commutability via Stacked Homes reader forum
Strengths & Weaknesses
- 999-year lease from 1881 (~854 years remaining) — quasi-freehold, practically indistinguishable from freehold; no CPF restrictions or lease-decay financing cliff
- PSF appreciation of 62% in 3 years (S$1,322 → S$2,137) — strong capital appreciation trajectory in an OCR location
- Priced below Parktown Residence (S$2,137 vs S$2,367 psf) despite a 855x longer tenure — structural tenure premium not yet fully priced in
- Pasir Ris MRT (EWL) at 0.81km — direct line to Tampines, Changi Business Park, Changi Airport, and city
- Dense school catchment within 1.4km: White Sands Primary (0.71km), Pasir Ris Primary (0.99km), Pasir Ris Secondary (0.89km), Stamford American (1.34km), Brighton College (1.14km)
- Private gardens for each terrace unit — landed-lifestyle space that no condominium can replicate
- Pasir Ris Park, beach, and coastal greenway accessible by bicycle — superior recreational amenity
- Active rental demand from Changi Business Park and Stamford American families — S$5,857 avg rent, 2.47% yield
- En-bloc potential 56/100 — maturing quasi-freehold estate with collective sale optionality as land economics evolve
- Cross Island Line (Pasir Ris station, mid-2030s) will further boost connectivity of this address
- No condominium facilities — no swimming pool, gym, clubhouse, or tennis court; terrace estate only
- Low transaction liquidity — only 7 resale transactions on record; limited comparable pricing data; independent valuation essential
- Low investment score (26/100) — reflects thin transaction pool, suburban OCR positioning, and limited near-term capital-gain triggers
- Walkability 63/100 — most daily errands require a car or bus; not a walk-to-everything address
- Strata title (not individual landed title) — common estate areas managed via MCST; not the same as full landed freehold title
- 1994 vintage finishes — most units will benefit from renovation investment to reach modern standards
- Small estate (78 units) — MCST fund scale is limited; buyers should review sinking fund and maintenance history
- No Cross Island Line connectivity until mid-2030s — Pasir Ris will remain EWL-only for transit diversity in the near term
- Gross yield 2.47% — lower than typical condo yield benchmarks; not an income-maximisation play
Verdict
The value proposition at Elias Terrace is unusual and structurally compelling: a quasi-freehold (999-year) strata terrace estate in District 18, priced at S$2,137 psf over the past 12 months against comparable-location 99-year leasehold new launches at S$2,367–S$1,386 psf. In a tenure market where buyers routinely pay a 15–30% PSF premium for freehold or 999-year properties, Elias Terrace is pricing at a discount to the most premium 99-year new launches nearby — a structural mispricing that reflects the estate’s age, the terrace format, and the limited transaction pool rather than any underlying land-value weakness. PSF appreciation of 62% over three years (S$1,322 to S$2,137) demonstrates that the market is steadily recognising this gap.
The estate is best suited to families seeking landed-lifestyle space, private garden access, and a 999-year quasi-freehold tenure in an eastern Singapore location with good EWL connectivity and an exceptional school catchment. The walkability score of 63/100 reflects the suburban Pasir Ris setting — most errands require a car or bus rather than walking — but the MRT score of 7.5/10 (Pasir Ris EWL at 0.81 km) is strong for a terrace estate. Rental yield of 2.47% is respectable for a landed-type product and suggests active demand from Changi Business Park and Stamford American families. The en-bloc score of 56/100 gives long-horizon investors optionality: as the estate matures and redevelopment land economics shift, collective sale becomes more attractive.
The primary risks are the low investment score (26/100 — reflecting low transaction liquidity, limited comparable data, and the suburban OCR positioning) and the limited on-site facilities (5.0/10 — strata terrace with no pool or gym). Buyers expecting resort amenities will not find them here; buyers seeking the genuine space, permanence, and private-garden lifestyle of landed living in a well-governed quasi-freehold estate, at a price below equivalent-connectivity 99-year new launches, will find Elias Terrace to be a remarkably well-priced opportunity in the eastern Singapore residential market.