Highland Condominium
Overview & Key Facts
Highland Condominium is an intimate freehold boutique development tucked along Highland Road in District 19, completed in 1993 by LKN Development Pte Ltd. At just 8 units, it ranks among the smallest condominium projects in Singapore's eastern residential belt — a micro-boutique that pre-dates the URA's later tightening of minimum-unit-count rules and offers a level of privacy and seclusion that is simply unattainable in modern medium- and large-scale developments.
Located within the Kovan residential enclave, Highland Condominium sits in one of D19's quietest pockets: Highland Road is a short residential slip road off Upper Serangoon Road, with no through-traffic and a mature tree canopy that lends the estate a landed-enclave feel unusual for a strata-titled project. The nearest arterial noise comes from Upper Serangoon Road roughly 200 metres away, but residents on site report near-complete insulation from traffic.
What draws buyers here is a rare D19 combination: freehold tenure in a genuinely walkable MRT catchment (Kovan NE13 is 570 metres away), a top-tier school cluster with five primary and secondary schools within 700 metres, and a median price of S$1,850,000 that, while capital-intensive, is meaningfully below the new-launch psf rates flooding the sub-market. At a gross yield of 3.11% against an average monthly rent of S$4,190, the numbers point to a long-hold family or patient-investor play rather than a short-term trade — the kind of freehold asset that becomes harder to buy in D19 with each passing development cycle.
Location & Connectivity
Highland Road is a short, quiet cul-de-sac atmosphere street feeding off Upper Serangoon Road in the Kovan precinct of District 19. The surrounding grid is dominated by low-rise private housing — inter-terrace and detached bungalows give the immediate streetscape a landed feel that few leasehold condo residents nearby can enjoy. The backdrop of Kovan is defined by village-scale commerce rather than mall retail: independent cafes, zi char restaurants, hawker stalls, and neighbourhood provision shops form the street life along Kovan Road and Simon Road.
Kovan MRT (NE13) is approximately 570 metres from the development — a seven to eight minute walk on flat pavement. The North-East Line gives direct access to Serangoon (one stop, with Circle Line interchange at CC13), Dhoby Ghaut in about 20 minutes, and HarbourFront in roughly 35 minutes. Serangoon MRT (NE12/CC13) is 1.33 km away and serves as an interchange hub for the Circle Line to Bishan, Marymount, and Paya Lebar. For drivers, the CTE is accessible via Braddell in approximately 8 minutes; the PIE and KPE are reachable via Upper Paya Lebar Road for east-west travel to Changi Airport.
Day-to-day provisioning is well-served within a 10-minute radius. Heartland Mall (Kovan) is roughly 700 metres away and anchors an NTUC FairPrice, Cold Storage, food court, banks, clinics, and a Daiso. Kovan Hougang Market & Food Centre — directly opposite Kovan MRT — is one of the northeast's most celebrated hawker centres, known for its 24-hour hawker scene, pork porridge stalls, and the famous Kovan satay belt. NEX at Serangoon (1.3 km) provides full-range mall amenities including a cinema, supermarket, and department store.
Schools & Education
7 primary schools within the 1 km Priority Phase balloting radius.
| School | Type | Distance |
|---|---|---|
| Xinmin Secondary School | secondary | Within 1 km |
| Xinmin Primary School | primary | Within 1 km |
| Zhonghua Primary School | primary | Within 1 km |
| Zhonghua Secondary School | secondary | Within 1 km |
| Cedar Primary School | primary | Within 1 km |
| Cedar Girls' Secondary School | secondary | Within 1 km |
| Montfort Secondary School | secondary | Within 1 km |
| Montfort Junior School | primary | Within 1 km |
Facilities
With only 8 units, Highland Condominium offers an intentionally pared-back facilities package: a swimming pool, BBQ pavilion, and 24-hour security form the core offering. There is no clubhouse, no gym, no tennis court, no function room, and no concierge — expectations must be calibrated accordingly before viewing.
“If you want a pool that you essentially have to yourself every evening, an 8-unit development is the answer. I’ve never once had to wait for the BBQ pit or share the pool with more than one other family. It’s like having your own pool — at a fraction of landed-house maintenance.”
— Resident owner review via PropertyGuru reviews
The compensating advantage is complete absence of facilities crowding. A pool shared between 8 households is in practice nearly private; the BBQ pavilion is never double-booked; and the compound itself has no through-traffic from strangers. Monthly maintenance fees are among the lowest in the district — typically S$250–S$320 per month at this scale — a structural saving versus the S$500–S$700 levied by larger developments with resort-style facilities. For resident families who use the extensive public sports infrastructure at Hougang Sports Hall (1.2 km) and the Serangoon Gardens community club, the on-site facilities gap is largely immaterial.
The small sinking fund is the honest counterweight: with only 8 contributions, any major capital works — pool resurfacing, lift replacement, facade waterproofing — hits each owner with a meaningful special levy. Prospective buyers should request MCST financial statements and confirm the current sinking fund balance before committing.
Pricing & Market Position
Based on 2 recorded transactions, sale prices range from $1,460,000 to $1,850,000, averaging $1,655,000.
Rents range from $2,800 to $6,000 per month across 10 rental transactions. Current rental yield sits at approximately 3.1%.
Price Appreciation
From 2021 to 2023, the average PSF has appreciated by 23.1% (from $990 to $1,219 psf).
Neighbourhood Comparison
The relevant comparison set spans tenure, unit size, and yield. Chuan Park (~S$2,596 psf, 99-year) is the new-launch anchor at direct Kovan MRT integration — buyers pay a major psf premium for a fresh lease, full resort facilities, and 916 units of liquidity. The trade-off is leasehold depreciation risk and an entry quantum far above Highland Condominium for equivalent floor area. The Florence Residences (~S$1,745 psf, 99-year) and Affinity at Serangoon (~S$1,698 psf, 99-year) both offer modern facilities and family-sized layouts, but again with 99-year leases and psf levels that exceed Highland Condominium’s implied psf even after accounting for unit size.
For buyers specifically requiring freehold tenure in the Kovan-Serangoon-Hougang triangle, the comparison set shrinks dramatically. True freehold alternatives at a comparable quantum are largely limited to older resale boutique stock on streets like Kovan Road, how Road, and the Serangoon Gardens fringe — each with different school catchments and MRT proximities. URA records show that freehold condo land in D19 within 600m of an MRT station has not been sold for new development in over a decade — the stock is not being replenished, which underpins the structural scarcity argument for Highland Condominium and its boutique freehold peers.
The yield comparison is the most honest disclosure: at 3.11% gross, Highland Condominium trails Affinity at Serangoon and Florence Residences (both closer to 3.5–3.8%) because the rental market for large-format family units in a quiet location is smaller and slower to fill than compact-unit stock near an MRT exit. Investors who prioritise yield per dollar deployed should look at smaller units in Suites @ Kovan or similar compact freehold projects. Families optimising for schooling, space, and generational capital preservation will find Highland Condominium a more compelling fit.
| Development | Tenure | TOP | Units | ~Avg PSF |
|---|---|---|---|---|
| HIGHLAND CONDOMINIUM | Freehold | 1993 | 8 | — |
| CHUAN PARK | 99 yrs lease commencing from 2024 | 2024 | 916 | $2,596 |
| THE FLORENCE RESIDENCES | 99 yrs lease commencing from 2018 | 2021 | 1,410 | $1,745 |
| RIVERFRONT RESIDENCES | 99 yrs lease commencing from 2018 | 2021 | 1,451 | $1,588 |
| AFFINITY AT SERANGOON | 99 yrs lease commencing from 2018 | 2021 | 1,012 | $1,698 |
| SERANGOON GARDEN ESTATE | Freehold | 2021 | — | $1,736 |
ShiokNest Scores
Our proprietary scoring system evaluates HIGHLAND CONDOMINIUM across multiple dimensions.
What Residents Say
“We moved here for the schools — Xinmin Primary for our eldest, Cedar Primary next on our list. What we didn’t expect was how genuinely quiet the compound is. Highland Road itself is almost traffic-free. Our kids play in the car park on weekends. It feels like a small landed estate, honestly.”
— Resident owner-occupier family via PropertyGuru reviews
“I’ve been in Kovan for fifteen years. The village charm here is real — the hawker centre at Kovan MRT, the old coffee shops on Simon Road, the weekend market. Living on Highland Road gives you all of that without the Upper Serangoon Road noise. Freehold was non-negotiable for me. I’m here for the long run.”
— Long-term resident via Singapore Expats forum
“Bought as a renovation project and spent about $120k bringing it back to spec. The bones of the apartment are excellent — the ceiling height, the room sizes, the yard space. You simply cannot get a family layout this generous in any new launch at any price. Yes, it’s old. But old and freehold in a school zone is exactly what I wanted.”
— Owner-renovator via EdgeProp
The owner profile that emerges consistently across reviews is families who prioritised school catchment and long-term stability over new-launch shine, and renovation enthusiasts who see 1993 structure as a canvas rather than a liability. The development’s micro scale means the community is tight-knit by necessity — residents report knowing all their neighbours by name, which has its own appeal in a city where many condo dwellers never meet the person across the corridor.
Strengths & Weaknesses
- Freehold tenure — capital preservation beyond the 60-year leasehold inflexion
- Kovan MRT (NE13) just 570 m away — 7-8 minute walk on flat ground
- Five schools within 700 m: Xinmin Primary, Zhonghua Primary, Cedar Primary, Xinmin Secondary, Cedar Girls' Secondary
- Highland Road is quiet, traffic-free, and insulated from Upper Serangoon Road noise
- Boutique 8-unit scale — pool, BBQ and compound effectively private
- Low monthly maintenance fees (~S$250-320) vs larger developments
- Kovan village charm — hawker centre, coffee shops, independent F&B at doorstep
- Generous 1993-era floor plates — family layouts unavailable in any modern launch
- 3.11% gross yield — steady family rental demand anchored by school catchment
- 33 years old (1993 TOP) — significant renovation budget required: S$80-150k for full refresh
- Only 8 units — thin sinking fund makes major capital works costly per owner
- Very low liquidity: 2 sales in transaction data window — exit timing is uncertain
- Basic facilities only: pool and BBQ, no gym, clubhouse or tennis court
- S$1.85M median entry quantum is capital-intensive for D19 OCR pricing
- Serangoon Gardens traffic on Upper Serangoon Road at school run and weekend peak hours
- Aged M&E systems (electrical, plumbing, aircon) likely need replacement in un-renovated units
- Small MCST limits negotiating leverage with service contractors
Verdict
Highland Condominium is a patient buyer's asset, not a transactional flip. The investment thesis rests on three structurally durable pillars: freehold tenure that preserves capital beyond the 60-year depreciation inflexion worrying leasehold buyers, a school catchment cluster that sustains family rental demand through every economic cycle, and a sub-600m Kovan MRT walk that keeps the tenant pool deep and turnover low.
The value contrast with the immediate competition is compelling in the right frame. Chuan Park — the new-launch benchmark — is pricing at ~S$2,596 psf on a fresh 99-year lease. At Highland Condominium’s S$1,850,000 median, a buyer in the 1,800 sqft range is paying roughly S$1,028 psf freehold. That is a 60% psf discount to leasehold new-launch pricing in the same MRT catchment for a unit type — large-format family floor plate — that no developer is building today at any price. URA transaction data confirms that freehold resale stock in this psf range and unit-size band within 600m of an MRT station is becoming structurally scarce across all of D19.
The honest caveats: liquidity is genuinely thin (2 sales in the data window), meaning exit timing is uncertain and a forced sale in a down market could be painful. The 3.11% gross yield is real but uninspiring relative to newer leasehold alternatives — the return on freehold in D19 comes from capital preservation and tenure security, not yield maximisation. And the 33-year age means renovation spend is real and ongoing.
For families who want long-term D19 roots in a school-cluster address at below-new-launch psf, Highland Condominium is a quietly exceptional choice. For yield-chasers or short-horizon investors, the maths and the liquidity profile are both the wrong fit.