Hazel Park Terrace
Overview & Key Facts
Hazel Park Terrace is one of District 23’s best-kept secrets: an 80-unit strata terrace cluster developed jointly by Arts Associate Company Pte Ltd and Hong Leong Holdings, completed in 1998 on a quiet cul-de-sac off Upper Bukit Timah Road. Unlike the conventional high-rise condominiums that line this stretch, Hazel Park Terrace is a low-density landed-style community of two-storey strata terrace houses — each unit enjoying its own private footprint, generous floor area (ranging from roughly 2,034 to 5,222 sqft), and the intimacy of a gated enclave. Hong Leong Holdings brings the same pedigree it applied to the adjacent Hazel Park Condominium, ensuring solid build quality and long-term estate management credibility.
The 999-year tenure commencing 1882 makes Hazel Park Terrace one of a shrinking cohort of quasi-freehold addresses in Singapore — a category that continues to command a structural premium as true freehold and 999-year stock becomes increasingly scarce in the primary market. Buyers here are acquiring land-title security that 99-year leaseholders in the same neighbourhood cannot replicate, at a PSF that reflects the cluster’s maturity without demanding new-launch pricing.
With only 80 units, the development functions more like a private landed enclave than a mass-market condominium. Residents describe a community feel rarely found in larger developments — quiet internal lanes, minimal common-area congestion, and the privacy that comes with a low-density gated estate. For buyers seeking landed living with the convenience of strata maintenance and 24-hour security, Hazel Park Terrace occupies an uncommon market position in D23.
Location & Connectivity
The development’s headline locational asset is Cashew MRT (DTL2), which sits approximately 0.39 km from the estate — a genuine four-to-five-minute walk under shelter for a significant portion of the route. For a strata terrace cluster in District 23, this is exceptional; most comparable landed-style estates in Bukit Panjang and Choa Chu Kang require a car or feeder bus to reach a train. The Downtown Line connects Cashew to Botanic Gardens in eight stops, to Bugis in twelve, and to Expo in sixteen — covering the city fringe, CBD, and east corridor without a line change. Petir LRT (0.64 km) and Bukit Panjang DTL/LRT interchange (0.78 km) provide additional options for Choa Chu Kang town-centre errands and the LRT loop.
What truly sets this address apart for nature-oriented residents is the proximity to Singapore’s Western Catchment nature belt. Dairy Farm Nature Park and Bukit Timah Nature Reserve are both reachable on foot or by a short cycle, with NParks-maintained connectors linking Dairy Farm, Bukit Timah, Zhenghua, and Chestnut Nature Park into a contiguous green corridor. For trail runners, hikers, and cyclists, Hazel Park Terrace offers a doorstep-to-dirt-trail option that very few addresses at this price tier can match.
For families with school-age children, Pei Hwa Presbyterian Primary School (0.52 km) is comfortably within the coveted 1 km Phase 2C priority radius — one of the most reliable P1 registration anchors in this sub-market. Bukit Panjang Primary (1.18 km) and Springdale Primary (1.06 km) add further options within 1.3 km. Fajar Secondary (1.07 km) and Bukit Panjang Government High School (1.13 km) cover secondary needs without requiring a bus commute.
Day-to-day retail is anchored by Bukit Panjang Plaza and Hillion Mall at Bukit Panjang interchange, both accessible by DTL in two stops. Closer to home, the Fajar neighbourhood centre provides a hawker centre, supermarket, and provision shops for daily groceries without entering a major mall. Cashew Road itself has a small cluster of F&B options — enough for breakfast runs — while the Upper Bukit Timah corridor adds petrol stations, clinics, and speciality shops within driving distance.
Schools & Education
1 primary school within the 1 km Priority Phase balloting radius.
| School | Type | Distance |
|---|---|---|
| Pei Hwa Presbyterian Primary School | primary | Within 1 km |
| Springdale Primary School | primary | ~1.1 km |
| Fajar Secondary School | secondary | ~1.1 km |
| Bukit Panjang Government High School | secondary | ~1.1 km |
| Bukit Panjang Primary School | primary | ~1.2 km |
| Xishan Primary School | primary | ~1.3 km |
| Greenridge Secondary School | secondary | ~1.4 km |
| West Spring Secondary School | secondary | ~1.6 km |
Facilities
As an 80-unit strata terrace cluster rather than a high-rise condominium, Hazel Park Terrace is not engineered around a resort-style amenity stack. Residents can expect the essentials of a well-managed gated community: 24-hour security, a swimming pool, and landscaped common areas with BBQ facilities. The intimate unit count means that whatever pool and recreational facilities exist are never oversubscribed — a meaningful practical advantage over developments where 600+ units compete for two tennis courts. Management by the MCST (which benefits from Hong Leong Holdings’ founding management standards) has historically maintained the estate in good condition.
The honest counterpoint is that buyers who prioritise a full wellness-and-leisure amenity deck — multiple pool zones, gym, indoor courts, function rooms — will find the Hazel Park Terrace offering lean by comparison. The compensation is substantial: Dairy Farm Nature Park and Bukit Timah Nature Reserve together function as the world’s most expansive “recreational facility,” with hiking trails, quarry lakes, and kilometres of park connectors accessible without a car. For residents who draw their exercise and leisure from the outdoors rather than from a clubhouse, this is a meaningful quality-of-life upgrade over any condo amenity deck.
Pricing & Market Position
Based on 3 recorded transactions, sale prices range from $3,690,000 to $7,288,000, averaging $5,226,000.
Rents range from $3,500 to $10,000 per month across 13 rental transactions. Current rental yield sits at approximately 1.3%.
Price Appreciation
From 2021 to 2025, the average PSF has appreciated by 8.4% (from $1,808 to $1,960 psf).
Neighbourhood Comparison
The most relevant comparables are the 99-year leasehold condominiums that have launched along the Bukit Timah – Cashew corridor. Midwood (99yr, 2023 TOP, Hillview MRT adjacent) targets a similar upper-OCR buyer but offers new-launch finishings, a full resort amenity deck, and a significantly smaller unit quantum at a PSF of roughly $1,900–$2,100 psf. Against Midwood, Hazel Park Terrace offers a 999-year lease, roughly 30–50% more floor area per dollar, and quieter enclave living — at the cost of older fittings and a leaner facility stack. Dairy Farm Residences (99yr, 2025 TOP) is another reference point: also DTL-proximate, nature-adjacent, newer — but 99-year leasehold and priced at a new-launch premium.
For buyers willing to consider the broader landed-adjacent market, Sol Acres (EC, Choa Chu Kang, 99yr) and semi-detached/terrace landed stock along Petir Road offer alternative angles. The honest differentiation for Hazel Park Terrace is the convergence of three factors that rarely co-exist: 999-year tenure, MRT at walking distance, and strata-terrace unit sizes. Any buyer for whom all three factors matter simultaneously will find the competitive set very thin.
| Development | Tenure | TOP | Units | ~Avg PSF |
|---|---|---|---|---|
| HAZEL PARK TERRACE | 999 yrs lease commencing from 1882 | 1998 | 80 | — |
| SOL ACRES | 99 yrs lease commencing from 2014 | 2018 | 1,327 | $1,383 |
| MIDWOOD | 99 yrs lease commencing from 2018 | 2021 | 564 | $1,731 |
| LUMINA GRAND | 99 yrs lease commencing from 2022 | 2024 | 512 | $1,515 |
| DAIRY FARM RESIDENCES | 99 yrs lease commencing from 2018 | 2021 | 460 | $1,659 |
| THE BOTANY AT DAIRY FARM | 99 yrs lease commencing from 2022 | 2023 | 386 | $2,053 |
Lease Decay Analysis
The 99-year lease runs from 1998, meaning approximately 28 years have already been consumed. Roughly 71 years remain — still comfortably within the range where most banks will offer full financing without restrictions.
| Year | Lease remaining | Implication |
|---|---|---|
| 2026 (now) | ~71 years | Full bank financing available |
| 2028 | ~69 years | CPF usage still unrestricted for most buyers |
| 2037 | ~59 years | Approaching 60-year threshold — CPF limits begin for some |
| 2057 | ~39 years | Significant financing restrictions for next buyer |
| 2097 | 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 ~61 years remaining, which is still very bankable. The risk profile changes for longer holds.
ShiokNest Scores
Our proprietary scoring system evaluates HAZEL PARK TERRACE across multiple dimensions.
What Residents Say
“Very nice and quiet. Walking distance to Cashew MRT — very convenient. Multiple swimming pools nearby and easy access to Dairy Farm Nature Park for weekend hikes. The low number of units means you actually know your neighbours.”
— Resident, via PropertyGuru
“Bought here for the 999-year tenure and the space. You simply cannot find this combination — terrace-house footprint, 855 years on the lease, MRT in walking distance — anywhere else in this price range in D23. The nature access is a bonus we use every weekend.”
— Owner-occupier, via EdgeProp
Strengths & Weaknesses
- 999-year lease from 1882 — quasi-freehold, ~855 years remaining
- Cashew DTL at 0.39 km — walking distance for a strata terrace estate
- Pei Hwa Presbyterian Primary at 0.52 km — strong P1 1 km anchor
- Generous unit sizes: 2,034–5,222 sqft (terrace-house footprint)
- Doorstep access to Dairy Farm & Bukit Timah nature corridor
- Only 80 units — low density, community feel, no overcrowding
- Hong Leong Holdings co-developer — credible build and management pedigree
- En-bloc optionality (47/100) adds long-horizon upside for 999yr land
- Recent Apr 2025 sale at $1,960 psf confirms active demand and price momentum
- Quiet cul-de-sac location — minimal through traffic
- Strata maintenance removes landed upkeep burden while preserving space
- 1.28% gross rental yield — low for income-seeking investors
- Thin transaction volume (3 sales/yr) — PSF volatile, exit timing uncertain
- Facility stack is lean vs full-service condominiums
- $4.7–5.2M quantum — meaningful capital commitment
- No bus interchange at doorstep — Bukit Panjang town centre requires DTL or car
- Older fittings (1998 TOP) — renovation budget required for modern finish
- Walkability score 58/100 — functional but not walkable for daily errands
- Investment score 34/100 — reflects yield and thin liquidity, not capital value
- Limited comparables data makes independent valuation harder
Verdict
Hazel Park Terrace is best understood as quasi-freehold landed living at a strata-maintenance premium, in one of District 23’s quieter and greener pockets. The 999-year lease from 1882 places it in the same structural category as true freehold for any realistic planning horizon. The combination of Cashew DTL at 0.39 km, Pei Hwa Presbyterian Primary at 0.52 km, and the Dairy Farm / Bukit Timah nature corridor accessible without a car produces a residential brief that very few D23 addresses can fully replicate. For the right buyer profile — families seeking space, permanence, and nature adjacency — the case is compelling.
The caveats are real and should not be papered over. The 1.28% gross rental yield is low even by Singapore’s standards for premium addresses, meaning investors seeking income must look elsewhere. Transaction volume is thin (three sales in 12 months), which limits price discovery and can make exit timing unpredictable. The facility offering is lean relative to larger condominium comparables — buyers who live and breathe resort-style amenities will be disappointed. And at $4.7–5.2 million for own-stay, the quantum is meaningful: this is a household-finances decision, not a casual upgrade.
The en-bloc score of 47/100 is worth noting for a 999-year estate. En-bloc potential on 999-year or freehold strata developments typically pivots on plot ratio uplift and land area, not lease urgency — and Hazel Park Terrace’s low-density footprint in a nature-adjacent zone suggests at least some development optionality in a future URA Master Plan cycle. This is not a near-term catalyst, but it adds a layer of optionality for long-horizon owners that 99-year leaseholders do not enjoy.