Isuites @ Palm
Overview & Key Facts
iSuites @ Palm is a 64-unit boutique condominium at 26 Glasgow Road in District 19, developed by I Development Pte Ltd and completed in 2013. The development is held on a 999-year leasehold commencing 1878, leaving approximately 851 years on the tenure — a figure that is functionally indistinguishable from freehold for any practical ownership or investment horizon. In the Singapore property market, 999-year leasehold from the 1800s is treated as the near-equivalent of absolute freehold: CPF usage is fully unrestricted, bank financing faces no lease-related limitation, and there is no lease-decay consideration relevant to any buyer alive today.
With only 64 units across two low-rise blocks of five storeys, iSuites @ Palm is among the most boutique condominium offerings in Hougang. The development is positioned on a quiet residential enclave off Glasgow Road, a short distance from the landed and low-density private housing estates of the Palm Grove area. The scale of the development — 64 units, compact facilities, a ground-floor and rooftop pool configuration — creates the close-knit, private-estate feel that distinguishes boutique D19 condominiums from the large-scale mass-market developments along Upper Serangoon View or Hougang Central.
At an average PSF of approximately $1,375 and an average rent of $2,540 per month, iSuites @ Palm offers an implied gross yield of approximately 2.2% — modest by HDB-comparable standards but noteworthy for a 999-year leasehold condominium. The $1,375 PSF is a compelling entry point for a near-freehold D19 asset in a district where 99-year leasehold alternatives such as Riverfront Residences ($1,550 PSF) and Kingsford Waterbay ($1,465 PSF) trade at comparable or higher PSF figures despite materially inferior tenure. The 999-year tenure premium that iSuites @ Palm represents is structurally underpriced relative to those alternatives — a value gap that informed buyers in the heartland investment segment recognise and act on.
The development’s ShiokNest score of 42 and Walkability score of 58 reflect its position as a quiet residential enclave rather than an urban convenience hub: the Kovan MRT (NE13) is approximately a 12-minute walk, bus connectivity is the primary daily transport mode for most residents, and the immediate streetscape is low-rise residential rather than commercial. For buyers who prioritise tenure permanence, boutique privacy, and the enduring appeal of the Palm Grove residential neighbourhood over MRT-proximate urban convenience, iSuites @ Palm is one of the most competitively priced 999-year leasehold options in the D19 market.
Location & Connectivity
iSuites @ Palm is situated at 26 Glasgow Road, in the residential enclave that borders the Palm Grove Avenue private housing cluster in Hougang. The immediate context is low-density and quiet: Glasgow Road is a secondary residential street connecting the larger arterial Upper Serangoon Road corridor to the palm-lined private estates and semi-detached houses of the Palm Grove and Lorong Napiri precincts. The surrounding streetscape is characterised by landed housing, low-rise walkups, and the mid-rise boutique condominiums that populate the interstices of D19’s older private residential pockets — an environment that contrasts sharply with the high-density new-launch corridor along Upper Serangoon View and the Hougang Central HDB precinct.
MRT access is the most frequently cited practical limitation of the Glasgow Road location. Kovan MRT (NE13) on the North East Line is approximately a 12-minute walk — within the outer boundary of what Singapore buyers typically consider “walkable” to MRT, but meaningfully further than the 5–8 minute standard that drives maximum walkability premiums. Serangoon MRT (NE12/CC13), a dual-line interchange serving both the North East Line and Circle Line, is accessible via a bus connection or a longer walk. The practical transport mode for most iSuites @ Palm residents is the bus network: bus services on Upper Serangoon Road provide direct connections to Serangoon MRT, Kovan MRT, and the broader Hougang and Sengkang bus interchange network.
Day-to-day conveniences are well-represented within driving distance or a short bus ride. NTUC FairPrice and Cold Storage supermarket outlets serve the broader Hougang area; Heartland Mall at Kovan MRT provides a neighbourhood retail, F&B, and services cluster; the Kovan food centre on Upper Serangoon Road is a destination hawker venue for the D19 heartland community, and the broader Hougang Central commercial precinct provides supermarkets, wet markets, and town-level services. Driving residents have straightforward access to the Central Expressway (CTE) and Tampines Expressway (TPE) for CBD and east-west commutes.
For families with children, the school landscape around Glasgow Road is well-served by established MOE primary and secondary schools. Zhonghua Primary School, Xinmin Primary School, and Rosyth School are all within the D19 catchment, and Peicai Secondary School is proximate to the development. DPS International School on Upper Serangoon Road serves the international student population. The combination of good school proximity, landed-character surroundings, and near-freehold tenure makes the Palm Grove enclave a perennially popular address for families seeking a quieter residential environment within the D19 heartland.
The medium-term neighbourhood outlook for D19 is underpinned by the progressive maturation of the Sengkang and Punggol new towns to the north, which drive sustained residential demand in the Hougang corridor, and the long-established Serangoon and Kovan catchment, which benefits from the most dense and established private residential fabric in the north-east district. The Palm Grove area itself is unlikely to undergo significant densification given the landed housing character of the surrounding streets — an additional positive for buyers who value the low-density residential envelope over time.
Schools & Education
9 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 |
| Yangzheng Primary School | primary | Within 1 km |
| Cedar Primary School | primary | Within 1 km |
| Serangoon Secondary School | secondary | Within 1 km |
| Cedar Girls' Secondary School | secondary | Within 1 km |
| Holy Innocents' High School | secondary | Within 1 km |
| Zhonghua Primary School | primary | Within 1 km |
Facilities
iSuites @ Palm’s facilities programme is compact and functional, calibrated appropriately to the boutique scale of a 64-unit development. The headline amenity is a two-pool configuration that distinguishes the development from many comparable boutique condominiums that offer only a single pool: a ground-floor swimming pool provides the standard resort-style leisure facility, while a rooftop pool adds an elevated amenity that is genuinely uncommon in a five-storey low-rise development of this scale. The rooftop pool functions as the development’s signature amenity — a lush, elevated setting overlooking the low-rise residential streetscape of the Palm Grove enclave.
The gymnasium, BBQ pavilions, lush landscaping, and full 24-hour security system with on-site personnel round out the essential condominium amenity package. For a 64-unit development, this facilities scope is well-proportioned: the pools and gym will not be overcrowded even at peak weekend usage, and the low resident density creates the close-knit, private-estate atmosphere that boutique condominium buyers seek specifically. Residents consistently note in reviews that the development “feels exclusive” and that the gym “overlooks the swimming pool” — a spatial quality that reinforces the intimate boutique character.
Parking is well-provisioned for the unit count, and the surface and covered car park arrangement is spacious relative to the total number of units — a practical consideration for residents in a location where bus and MRT access requires a 10–12 minute walk and driving remains the preferred daily transport mode for many households. The 24-hour security personnel and gated perimeter provide the private-estate security environment appropriate for a boutique development of this character.
Buyers and prospective tenants who are evaluating iSuites @ Palm primarily on facilities scope should calibrate expectations to boutique scale: the development does not offer a tennis court, function rooms, clubhouse, or the extended amenity decks associated with larger-scale mass-market condominiums. What it delivers instead is an intimate, well-maintained, lush-landscaped environment with two pool facilities, a gym, and a neighbourhood character that effectively serves as an amenity extension — the low-density Palm Grove enclave, the proximity to the Kovan heritage shophouse precinct, and the quiet greenery of the surrounding residential streets.
Unit Sizes & Layout
iSuites @ Palm’s 64 units are distributed across two five-storey blocks, offering a range of 1-bedroom, 2-bedroom, and 3-bedroom penthouse configurations spanning 430 to 1,216 sqft across seven floor plan types. The unit mix reflects the development’s dual character as both an investment-grade compact condominium (1- and 2-bedroom layouts at the lower end of the size range) and a boutique lifestyle residence (the 3-bedroom penthouse configurations at the upper end). For a 64-unit development, the seven-plan variety is broad, reflecting I Development’s attention to segmenting the product to serve both investor and owner-occupier buyers within the same boutique development.
One-bedroom units start from approximately 430 sqft — compact but efficiently planned for single-occupant or young-couple buyers, with layouts optimised for the investment rental market that characterises much of D19’s boutique condominium tenant demand. Two-bedroom units occupy the 635–800 sqft range, suitable for young families, couples, and the smaller-household tenants who constitute the core rental demand in the Hougang-Kovan corridor. The three-bedroom penthouse units at 1,100–1,216 sqft represent the development’s premium tier: penthouse configurations with elevated ceiling heights, private roof terraces in selected units, and the spatial generosity that distinguishes the top-floor product from the standard stack configurations.
The finish standard at iSuites @ Palm is consistent with a 2013 mid-market boutique condominium product: functional and cleanly executed rather than ultra-premium, reflecting the development’s positioning in the $1,300–$1,600 PSF range rather than the $2,000+ PSF ultra-luxury segment. Flooring, kitchen fittings, and bathroom specifications are standard for the price tier; the value proposition rests on the 999-year tenure, the boutique scale, and the quiet residential setting rather than on luxury specification. Buyers looking at the development as an investment vehicle will find the unit specifications appropriate for the Hougang-Kovan rental market; owner-occupier buyers in the $900,000–$1.3 million range will find the interiors functional and presentable, with scope for renovation to upgrade specifications to personal preference.
The overall unit proposition at iSuites @ Palm is strongest for buyers who prioritise the 999-year tenure within a boutique, low-density residential environment over the unit specification or facilities grandeur of larger-scale competing developments. At $1,375 average PSF, the price per sqft is comparable to Kingsford Waterbay ($1,465 PSF, 99-year) and approaching Riverfront Residences ($1,550 PSF, 99-year) — both of which carry materially shorter tenures and significantly larger scale. The tenure-adjusted value differential at iSuites @ Palm is demonstrable and makes the development an intellectually compelling D19 alternative for buyers who understand Singapore leasehold dynamics.
| Bedrooms | Transactions | Avg PSF | Avg Price |
|---|---|---|---|
| 0 BR | 11 | $1,466 | $655,818 |
| 1 BR | 9 | $1,319 | $837,667 |
| 2 BR | 1 | $1,446 | $1,230,000 |
| 3 BR | 4 | $1,233 | $1,480,000 |
Pricing & Market Position
Based on 25 recorded transactions, sale prices range from $602,000 to $1,560,000, averaging $876,120 (~$1,408 psf).
Rents range from $1,630 to $3,650 per month across 86 rental transactions. Current rental yield sits at approximately 3.9%.
Price Appreciation
From 2021 to 2026, the average PSF has appreciated by 4.2% (from $1,231 to $1,283 psf).
Neighbourhood Comparison
The most direct structural comparables to iSuites @ Palm within D19 are the boutique freehold and 999-year leasehold condominiums in the Kovan–Serangoon private residential belt. Kovan Residences at Upper Serangoon Road (99-year from 2009, 521 units, 2012 TOP) represents the large-scale 99-year alternative at Kovan MRT: a well-located, fully-facilitated development that transacts at approximately $1,400–$1,600 PSF. At comparable or higher PSF than iSuites @ Palm, Kovan Residences offers the advantage of direct MRT proximity (adjacent to Kovan MRT) and a comprehensive facilities deck, but carries a 99-year tenure versus iSuites @ Palm’s near-freehold 999-year holding. Buyers who are willing to walk 12 minutes to MRT in exchange for 850 additional years of tenure — and who understand that tenure permanence is a structural advantage in any Singapore land-asset scenario involving government resumption, en-bloc, or ultra-long-hold strategy — will find iSuites @ Palm’s PSF-adjusted proposition compelling.
Kingsford Waterbay at Upper Serangoon View (99-year from 2013, 1,157 units) is the large-scale mass-market D19 comparator: a riverfront development with comprehensive facilities and a 1,157-unit precinct scale that generates significant transaction liquidity. Recent resale transactions at Kingsford Waterbay average approximately $1,465 PSF — a price point essentially identical to iSuites @ Palm’s $1,375–$1,460 PSF range. The tenure differential is stark: 1,157 units of 99-year leasehold (from 2013, leaving approximately 87 years) versus 64 units of 999-year leasehold (from 1878, leaving approximately 851 years). For buyers evaluating these two developments at comparable PSF levels, the 764-year tenure advantage of iSuites @ Palm is unambiguous — even accounting for Kingsford Waterbay’s riverfront outlook, larger facilities deck, and MRT bus-proximate location.
Riverfront Residences at Hougang Avenue 7 (99-year from 2018, 1,451 units, 2024 TOP) represents the newest large-scale D19 99-year option and trades at a higher PSF of approximately $1,550–$1,650. At a $175–$275 PSF premium to iSuites @ Palm, Riverfront Residences carries a 99-year lease from 2018 (81 years remaining by 2043, when current buyers are likely still holding). The PSF premium over iSuites @ Palm exists despite Riverfront Residences’ dramatically shorter tenure — a function of recency, the riverfront setting, larger facilities, and new-launch pricing dynamics. For buyers who are patient and focused on tenure-adjusted value, iSuites @ Palm’s PSF discount versus Riverfront Residences is a structurally rational outcome of the boutique-versus-large-scale dynamic rather than a reflection of inferior underlying value.
Within the boutique near-freehold sub-segment of D19, iSuites @ Palm is one of the few sub-$1.5 million 999-year leasehold options with a full condominium facilities profile (dual pools, gym, security) rather than the minimal-amenity walkup format. Buyers who have shortlisted the development against freehold boutique alternatives in D19 and D20 will typically find that comparable freehold boutique condominiums — particularly those with a similar low-rise, low-density character — command a 10–20% PSF premium. iSuites @ Palm’s 999-year tenure effectively eliminates the practical distinction between 999-year leasehold and freehold for any investment horizon under 50 years, making the modest freehold PSF premium available in comparable boutique alternatives difficult to justify on rational tenure-adjusted terms.
| Development | Tenure | TOP | Units | ~Avg PSF |
|---|---|---|---|---|
| ISUITES @ PALM | 999 yrs lease commencing from 1878 | 2013 | 64 | $1,408 |
| CHUAN PARK | 99 yrs lease commencing from 2024 | 2024 | 916 | $2,596 |
| THE FLORENCE RESIDENCES | 99 yrs lease commencing from 2018 | 2021 | 1,410 | $1,746 |
| RIVERFRONT RESIDENCES | 99 yrs lease commencing from 2018 | 2021 | 1,451 | $1,589 |
| AFFINITY AT SERANGOON | 99 yrs lease commencing from 2018 | 2021 | 1,012 | $1,699 |
| SERANGOON GARDEN ESTATE | Freehold | 2021 | — | $1,735 |
Lease Decay Analysis
The 99-year lease runs from 2013, meaning approximately 13 years have already been consumed. Roughly 86 years remain — still comfortably within the range where most banks will offer full financing without restrictions.
| Year | Lease remaining | Implication |
|---|---|---|
| 2026 (now) | ~86 years | Full bank financing available |
| 2043 | ~69 years | CPF usage still unrestricted for most buyers |
| 2052 | ~59 years | Approaching 60-year threshold — CPF limits begin for some |
| 2072 | ~39 years | Significant financing restrictions for next buyer |
| 2112 | 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 ~76 years remaining, which is still very bankable. The risk profile changes for longer holds.
ShiokNest Scores
Our proprietary scoring system evaluates ISUITES @ PALM across multiple dimensions.
What Residents Say
“It is a nice condo with a pleasant environment. The development feels exclusive given the small number of units and the lush landscaping. The rooftop pool is lovely and the gym overlooks the swimming pool — really well thought out for a small boutique development.”
— Resident review via SingaporeExpats
“We rented here for two years. The management is responsive and the security personnel are professional. The neighbourhood is very quiet — you would not know you are in Hougang given how calm Glasgow Road is. The bus to Kovan MRT is regular and convenient once you know the route.”
— Tenant review via PropertyGuru
“We specifically looked for 999-year leasehold in D19 and iSuites @ Palm was one of the few options at this price quantum. The Palm Grove enclave is genuinely lovely — landed houses, green streets, very different from the typical HDB heartland environment you expect in Hougang. The 999-year tenure was the deciding factor for us.”
— Owner comment via 99.co
“The rooftop pool is genuinely a great feature for a development this size. On a weekend evening it is quiet, the view over the low-rise neighbourhood is pleasant, and with only 64 units you almost always have the pool to yourself. That exclusivity is what boutique condos should offer.”
— Resident comment via EdgeProp
The resident and tenant feedback pattern at iSuites @ Palm centres consistently on three themes: the privacy and exclusivity of the boutique 64-unit scale, the distinctive rooftop pool amenity, and the quiet, low-density character of the Glasgow Road–Palm Grove neighbourhood environment. Buyers who chose the development specifically for its 999-year tenure characterise the decision as value-driven within the D19 near-freehold market — recognising the tenure premium they are acquiring relative to 99-year alternatives at similar or higher PSF levels. The practical transport limitation (12-minute walk to Kovan MRT) is consistently acknowledged but contextualised as acceptable given the neighbourhood quality and the tenure positioning.
Strengths & Weaknesses
- 999-year leasehold commencing 1878 — approximately 851 years remaining, functionally equivalent to freehold; CPF usage fully unrestricted, bank financing unconstrained, no lease-decay risk for any realistic hold period
- Boutique 64-unit scale delivers private-estate exclusivity and low resident density — pools and gym rarely congested, close-knit community character, intimate managed environment
- Two-pool configuration (ground-floor leisure pool + rooftop pool) in a five-storey low-rise development — a facilities ratio disproportionately generous for a boutique condominium of this size
- Quiet landed-character neighbourhood — Glasgow Road and the Palm Grove enclave offer low-density residential environment with greenery, semi-detached houses, and an calm street character unusual in Hougang
- PSF competitive against 99-year leasehold alternatives in D19 — Kingsford Waterbay ($1,465 PSF, 99-year) and Riverfront Residences ($1,550 PSF, 99-year) both trade at comparable or higher PSF despite materially inferior tenure
- Good school proximity — Zhonghua Primary, Xinmin Primary, Rosyth School, and Peicai Secondary within the D19 catchment; DPS International School nearby for international families
- Manageable quantum — 1-bedroom and 2-bedroom units accessible in the $700,000–$1.1 million range; 3-bedroom penthouses offer near-freehold ownership under $1.5 million
- 24-hour security with on-site personnel and gated perimeter — appropriate security infrastructure for the boutique estate character
- Gross yield ~2.2% at average rent $2,540/month — serviceable yield for a 999-year leasehold D19 condominium without premium CCR pricing overhead
- Kovan MRT (NE13) approximately 12 minutes on foot — beyond the standard 5–8 minute walkability premium threshold; most residents rely on buses to Kovan MRT or Serangoon MRT interchange, adding daily commute time
- Boutique scale limits facilities scope — no tennis court, no function room or clubhouse, no children’s pool or splash pad; buyers seeking large-scale lifestyle amenity must look to larger D19 developments
- Low transaction liquidity — 64 units means limited comparables and infrequent resale transactions; exit windows can be narrow and pricing less transparent than in larger developments
- Older stock (2013 TOP) — unit finishes and building infrastructure are 12+ years old; buyers should budget for renovation to modernise specifications to current market standards
- ShiokNest score 42 reflects limited urban amenity density in the immediate Glasgow Road enclave — daily errands require a bus ride or short drive to Kovan MRT or Hougang Central commercial clusters
- Investment score 58 — yield and capital appreciation dynamics are moderate for a D19 boutique development without direct MRT integration; not a high-conviction yield-maximisation vehicle
- No waterfront or landmark view — the five-storey low-rise format and the surrounding low-density residential streetscape mean units do not command the panoramic views available in taller D19 riverfront developments
Verdict
iSuites @ Palm’s investment and ownership thesis is straightforward: a boutique, near-freehold condominium in a quiet D19 residential enclave, priced at a PSF level that is broadly competitive with 99-year leasehold mass-market alternatives in the same district, and offering approximately 851 years of remaining tenure that removes any lease-related risk from the ownership equation for any realistic hold period. The 999-year leasehold commencing 1878 is the development’s most structurally distinctive feature — and the one that is most consistently underpriced relative to the D19 alternatives it competes against on a PSF basis.
The financial metrics are modest but rational. At $1,375 average PSF and $2,540 average monthly rent, the implied gross yield of approximately 2.2% is not a high-yield play, but it is meaningfully higher than the 1.5–1.8% gross yields available on CCR premium condominiums while offering an asset that has the tenure permanence of freehold, the neighbourhood character of a landed-adjacent enclave, and the boutique privacy that distinguishes 64-unit developments from the 1,000-unit mass-market alternatives in the district. For a leveraged investment at modest LTV, the rent coverage arithmetic is serviceable without requiring extraordinary rental growth assumptions.
iSuites @ Palm is the right answer for D19 buyers who understand that 999-year leasehold from 1878 is functionally equivalent to freehold, value the boutique exclusivity and private-estate character of the Palm Grove enclave, and are prioritising tenure permanence and long-term asset quality over MRT proximity or facilities grandeur.
The development’s primary practical limitation is the 12-minute walk to Kovan MRT — a transport gap that is real, is acknowledged by all resident profiles, and is the principal reason iSuites @ Palm trades at a PSF discount relative to Kovan Residences and other MRT-proximate D19 condominiums. Buyers for whom MRT walkability is a non-negotiable daily-living requirement will find the transport access insufficient; buyers who drive daily or are comfortable with the bus-to-MRT connection will find the limitation negligible in the context of the neighbourhood and tenure advantages the Glasgow Road address delivers.
The boutique scale deserves specific consideration. At 64 units, iSuites @ Palm will never have the transaction liquidity, price-setting power, or comparable-transaction depth of a 500–1,000 unit development. Exit liquidity in any given month or quarter is limited; market pricing is set by a small number of transactions. This is a characteristic of all boutique condominiums and is not unique to iSuites @ Palm, but buyers who prioritise easy liquidation or high-frequency transaction reference points should factor this into their hold-period planning. For long-hold buyers — precisely those for whom the 999-year tenure is most valuable — the liquidity consideration is less acute.
For owner-occupiers who value the quiet, landed-adjacent residential character of Palm Grove, the near-freehold tenure permanence, and the boutique exclusivity of a 64-unit estate over the urban convenience and comprehensive facilities of larger-scale D19 alternatives, iSuites @ Palm offers a residential proposition that is genuinely differentiated within the heartland D19 market. The combination of the rooftop pool, near-freehold tenure, and the greenery and calm of the Glasgow Road address creates an ownership experience that the mass-market new-launch condominiums of Hougang simply cannot replicate.