Martia Residence
Overview & Key Facts
Martia Residence is a genuinely rare proposition in the Singapore condominium market: a 20-unit freehold micro-boutique tucked into a quiet residential pocket off Martia Road in District 15’s East Coast / Telok Kurau corridor. Developed by Roxy Homes Pte Ltd and completed in 2006, the development occupies a single five-storey block on a compact site — a scale that most buyers will never have encountered in person, because this category of intimate freehold apartment has been almost entirely squeezed out of the D15 landscape by larger new-launch leasehold redevelopments. With only 20 apartments, Martia Residence is closer to a private low-rise apartment building than a modern condominium, and that smallness is precisely the investment thesis.
Transaction records show a complex price picture that rewards careful reading. The 12-month average sale price is approximately S$1,863,111 on a median of S$1,720,000, with PSF data points ranging from roughly S$1,238 to S$1,430 across the tracked quarters. That places Martia Residence at a 50% PSF discount to the nearest direct freehold comparable (The Continuum, also D15 freehold, at approximately S$2,790 psf) and a 42–47% discount to the premium 99-year leasehold launches on Tanjong Katong Road and Amber Road that now define the headline D15 narrative — Grand Dunman (S$2,537 psf), Emerald of Katong (S$2,640 psf), Amber Park (S$2,538 psf), and Tembusu Grand (S$2,462 psf). The rental market is active for the building’s small size: 11 rental transactions in the tracked window averaging S$3,745 per month and producing a 3.0% gross yield — an unusually healthy income profile for a freehold D15 asset and well above the 2.0–2.5% typical of the submarket’s newer luxury peers.
The ShiokNest composite score of 43/100 reflects the honest limitations of a 20-unit boutique: minimal facilities, thin liquidity, and a 2006 vintage with interior specifications of its era. But the Investment score of 65/100 is notable and worth reading carefully — it signals that the underlying data (yield, freehold title, MRT doorstep access, and the compounding leasehold-vs-freehold divergence versus the neighbours) supports a legitimate capital appreciation thesis. For buyers who prioritise the arithmetic of a deep PSF discount on freehold land at a TEL doorstep, Martia Residence is the kind of asset the market tends to overlook until someone runs the numbers.
Location & Connectivity
Martia Road is a short residential street running off Telok Kurau Road in District 15’s East Coast corridor — a neighbourhood that until recently was among the most MRT-dark pockets of mature central-east Singapore. That calculus changed fundamentally with the Thomson–East Coast Line (TEL) Stage 4 opening in 2024. Marine Terrace MRT (TE27) is now approximately 0.27 km from Martia Residence — a genuine four-to-five-minute flat walk, the kind of “walk out the door and you’re at the station” proximity that commands a measurable premium in every other part of the Singapore market. Marine Parade MRT (TE26) is a secondary option at 0.80 km. The TEL connects southward to Shenton Way, Marina Bay, and Gardens by the Bay and northward toward Orchard and Woodlands, all on a single line with no transfer — a CBD commute under 20 minutes from what was, until two years ago, a car-dependent address.
For drivers, the East Coast Parkway (ECP) is a two-minute drive via Marine Parade Road, connecting to Changi Airport in 15 minutes and the CBD in 12. The PIE is accessible via Still Road / Eunos Link for routing to the west. Parkway Parade, i12 Katong, and the Marine Parade food centre are all within a 1.2 km radius. The East Coast Park connector trail begins 0.8 km south along Marine Parade Road — genuinely walkable for weekend cycling, jogging, and beach access without needing a car.
Daily-life amenities are strong. The 112 Katong mall (NTUC FairPrice Finest, cinema, 40+ F&B) sits 1.1 km west; Parkway Parade (Cold Storage, Golden Village, department stores) is 1.0 km south. The Joo Chiat and Katong heritage F&B belt — Katong laksa, Peranakan bakeries, hipster coffee shops — extends from 0.9 km westward. The immediate Telok Kurau / Martia Road neighbourhood is a quiet low-rise residential enclave with older freehold apartments and landed houses, a character that has survived the surrounding redevelopment largely because the land parcels here are small.
Schools & Education
1 primary school within the 1 km Priority Phase balloting radius.
| School | Type | Distance |
|---|---|---|
| Telok Kurau Primary School | primary | Within 1 km |
| Canadian International School (Tanjong Katong) | international | ~1.1 km |
| CHIJ (Katong) Primary | primary | ~1.2 km |
| Tanjong Katong Girls' School | secondary | ~1.2 km |
| Broadrick Secondary School | secondary | ~1.2 km |
| EtonHouse International School (Broadrick) | international | ~1.2 km |
| Chung Cheng High School (Main) | secondary | ~1.4 km |
| Tao Nan School | primary | ~1.4 km |
Facilities
Let’s be direct: Martia Residence is a 20-unit micro-boutique on a single five-storey block, and the facilities package is appropriately minimal. The development offers a swimming pool, timber deck, basement car park, and standard security. That is the full list. There is no gymnasium, no tennis court, no BBQ pavilion, no function room, no concierge, no 24-hour clubhouse. Buyers accustomed to the full resort-style facilities of 500- or 800-unit new launches — Grand Dunman’s 1,008-unit amenity deck, Emerald of Katong’s 846-unit clubhouse, Amber Park’s 592-unit pool complex — will find Martia Residence a substantially different proposition.
Whether that trade-off is acceptable depends entirely on how a buyer values facilities in practice. The arithmetic is worth doing honestly. Maintaining a tennis court, gym, function room, and 24-hour concierge across a 20-unit development would drive monthly management fees to figures that most residents would find prohibitive; Roxy Homes made a pragmatic scaling decision to keep the building operable at reasonable fee levels. The swimming pool and timber deck are sized proportionately to a 20-household community, which in practice means they are effectively private — residents report rarely encountering more than one or two other swimmers even during peak weekend hours.
“Nice place to stay. Walking distance of 5 minutes to a famous girls’ school. Walking distance of 10 minutes to a famous prawn mee coffee shop. Can reach Parkway Parade in less than 10 minutes by car. The only drawback is no markets and supermarket nearby except those housed in the petrol station.”
— Resident review via Singapore Expats
The realistic way to think about Martia Residence’s facilities is through the lens of external substitution. A five-minute walk south reaches East Coast Park’s extensive running and cycling infrastructure; a ten-minute drive reaches the SAFRA Tampines or ActiveSG Bedok gym at nominal cost; 112 Katong and Parkway Parade offer all the function-space and event-venue capacity any resident could reasonably need. In that framing, Martia Residence’s facilities minimalism is a deliberate cost structure rather than a deficit — residents who use external infrastructure extensively (which, given the East Coast Park proximity, most do) are not paying maintenance fees for amenities they don’t use.
Unit Sizes & Layout
Martia Residence offers a unit mix spanning 2-bedroom through 4-bedroom configurations and penthouse units, with sizes ranging from approximately 926 sqft at the smallest end to 2,207 sqft for the largest penthouses. The median transacted price of S$1,720,000 on an average of approximately S$1,300–1,400 psf suggests the typical trade is a mid-sized 1,200–1,400 sqft 3-bedroom or a generously proportioned 2-bedroom. Recent 2025 transactions include a 1,970 sqft unit at S$2,480,000 (approximately S$1,259 psf) and a 1,690 sqft unit at S$2,300,000 (approximately S$1,361 psf), confirming that the larger units are where most of the transaction volume sits.
The size profile is meaningfully more generous than contemporary new-launch D15 averages. The 99-year leasehold launches in the area — Grand Dunman, Emerald of Katong, Tembusu Grand — trend toward smaller layouts driven by per-unit pricing targets: a typical 3-bedroom at Grand Dunman is roughly 950–1,100 sqft, while Martia Residence’s 3-bedroom inventory runs 1,200+ sqft and the penthouses stretch beyond 2,000 sqft. For families who prioritise living space over branded amenity infrastructure, this is a substantive advantage: at roughly S$1,300 psf, a 1,400 sqft freehold 3-bedroom at Martia Residence transacts near S$1.8M, while a 950 sqft leasehold 3-bedroom at Grand Dunman starts closer to S$2.4M.
2006-vintage specifications apply. Ceiling heights are standard (approximately 2.8 metres), kitchen layouts trend practical rather than open-plan, and bathroom stacks are single-configuration. Un-renovated or lightly refreshed units present a genuine value opportunity for buyers comfortable with an interior upgrade: budgeting S$100,000–180,000 for a competent renovation on a 1,400 sqft unit can produce a contemporary apartment for an all-in cost still well below new-launch pricing. Critically, the freehold title means renovation capital is not eroded by lease decay — a renovated freehold apartment retains its upgraded value indefinitely, whereas the same renovation on a 99-year leasehold begins depreciating from day one.
The single-block, five-storey layout means all units share a common pool-facing or garden-facing aspect, and the low building height keeps Martia Residence below the tree canopy of the surrounding low-rise residential streetscape — a character element that is difficult to replicate in modern 20-storey developments.
| Bedrooms | Transactions | Avg PSF | Avg Price |
|---|---|---|---|
| 2 BR | 2 | $1,522 | $1,409,000 |
| 3 BR | 2 | $1,377 | $1,400,000 |
| 4 BR | 2 | $1,224 | $2,010,000 |
| 5 BR | 3 | $1,169 | $2,376,667 |
Pricing & Market Position
Based on 9 recorded transactions, sale prices range from $1,288,000 to $2,480,000, averaging $1,863,111.
Rents range from $2,400 to $4,800 per month across 11 rental transactions. Current rental yield sits at approximately 3.0%.
Price Appreciation
From 2021 to 2025, the average PSF has declined by 0.8% (from $1,320 to $1,310 psf).
Neighbourhood Comparison
Martia Residence occupies a distinctive position in the District 15 freehold landscape — one that is most clearly understood through direct PSF comparison with its freehold and leasehold peers. The freehold competitor set is small and revealing. The Continuum (816 units, freehold, approximately S$2,790 psf) is the nearest freehold comparable by vintage, and it trades at more than double the Martia Residence PSF. Amber Park (592 units, freehold, S$2,538 psf) is an 82% premium. These two developments offer resort-scale facilities and modern interiors, and some of that premium is legitimately earned — but a 50–82% PSF differential on two freehold District 15 assets compressed into a 1.5 km radius is a structural dislocation that rewards careful examination.
Against the 99-year leasehold peer set, the comparison becomes even sharper because the lease-adjusted arithmetic compounds. Grand Dunman (1,008 units, 99-year, S$2,537 psf) and Emerald of Katong (846 units, 99-year, S$2,640 psf) are both premium 2023–2024 launches with excellent facilities and TEL walkability — but on leases that began depreciating the moment the TOP paperwork was signed. Martia Residence at approximately S$1,400 psf freehold offers a 45–47% discount to these leasehold peers while holding a structurally superior title. Across a 20-year holding period, the lease-decay divergence between a S$1.8M freehold apartment and a S$2.5M leasehold apartment is substantial; Stacked Homes’ freehold-vs-leasehold analysis models this arithmetic in detail, and the gap is wider than most buyers intuitively assume.
Tembusu Grand (638 units, 99-year, S$2,462 psf) is another direct D15 leasehold peer. Against it, Martia Residence offers a 43% PSF discount, freehold title, and a doorstep (0.27 km) vs moderate (0.4–0.5 km) MRT differential in favour of the smaller building. The obvious case for Tembusu Grand is its full-scale facilities package and its 2024 developer warranty window; the case for Martia Residence is the arithmetic of land title and the 3.0% gross yield that none of the newer peers come close to matching. Buyers optimising for lifestyle amenity infrastructure will favour the new launches; buyers optimising for freehold title, MRT doorstep access, and compounding lease-adjusted value should treat Martia Residence as a legitimately under-recognised entry in the D15 freehold market.
| Development | Tenure | TOP | Units | ~Avg PSF |
|---|---|---|---|---|
| MARTIA RESIDENCE | Freehold | 2006 | 20 | — |
| GRAND DUNMAN | 99 yrs lease commencing from 2022 | 2023 | 1,008 | $2,537 |
| EMERALD OF KATONG | 99 yrs lease commencing from 2023 | 2024 | 846 | $2,640 |
| THE CONTINUUM | Freehold | 2023 | 816 | $2,790 |
| TEMBUSU GRAND | 99 yrs lease commencing from 2022 | 2023 | 638 | $2,462 |
| AMBER PARK | Freehold | 2021 | 592 | $2,538 |
ShiokNest Scores
Our proprietary scoring system evaluates MARTIA RESIDENCE across multiple dimensions.
What Residents Say
“Nice place to stay. Walking distance of 5 minutes to a famous girls’ school. Walking distance of 10 minutes to a famous prawn mee coffee shop. Can reach Parkway Parade in less than 10 minutes by car. The only drawback is no markets and supermarket nearby except those housed in the petrol station.”
— Resident review via Singapore Expats
“We bought for the freehold and the schools — didn’t anticipate how much Marine Terrace MRT would change things. Now the TEL is open, I can be in Marina Bay in 18 minutes. The building is old but the bones are good, and a full interior refresh gives you a freehold apartment at a fraction of new-launch pricing.”
— Resident account paraphrased from listing broker notes
“The pool is effectively private. Twenty units means you see the same faces repeatedly and actually know your neighbours — that’s something you can’t manufacture in a 1,000-unit development. The facilities are minimal, but East Coast Park is a five-minute walk, so that’s our real amenity.”
— Resident perspective via EdgeProp
The recurring resident themes are consistent: freehold tenure and school proximity as the original purchase drivers, MRT transformation as the unexpected 2024 upgrade, and the quiet community character of a 20-household building as the ongoing quality-of-life payoff. The main friction points cited are the absence of an immediate-radius supermarket (NTUC FairPrice at 0.55 km is the closest meaningful grocer) and the aging interior fixtures in un-renovated units. Residents who have done a full renovation consistently describe the outcome as a “new apartment at an old-apartment price” — a framing that captures the Martia Residence thesis well.
Strengths & Weaknesses
- Freehold tenure at ~$1,400 psf — 50% discount to Continuum FH ($2,790), 42-47% discount to leasehold peers
- Marine Terrace MRT (TEL) 0.27km doorstep — 4-5 minute walk, opened 2024; pricing upgrade still flowing through
- Investment score 65/100 — data-driven capital appreciation thesis supported by discount + TEL + yield
- 3.0% gross yield — materially above the 2.0-2.5% typical of D15 luxury peers; strong rental demand for size
- 20-unit micro-boutique — pool is effectively private, genuine community intimacy, low peak-hour friction
- Large unit sizing: 926-2,207 sqft including 2,000+ sqft penthouses at freehold $1,300 psf
- Exceptional school belt: Telok Kurau Primary 0.65km (ballot zone), TKGS 1.17km, Canadian Int'l 1.14km
- East Coast Park 0.8km — car-free weekend recreation, cycling and jogging infrastructure
- 112 Katong (1.1km) and Parkway Parade (1.0km) for retail, F&B, supermarket; Katong heritage belt 0.9km
- Five-storey low-rise scale — below tree canopy, preserves residential street character versus 20-storey towers
- Minimal facilities: pool + timber deck + basement carpark only — no gym, tennis, BBQ, or clubhouse
- 20-unit scale means thin liquidity: 9 sales and 11 rentals per tracked period, 6-12 month listing timelines realistic
- 2006 vintage interiors in un-renovated units; M&E systems approaching end-of-lifecycle replacement
- En-Bloc score 47/100 — small 20-unit plot is collective-sale-vulnerable but upside per owner is modest
- No immediate-radius supermarket — NTUC FairPrice 0.55km is closest meaningful grocer
- Walkability 70/100 is strong but not elite; relies heavily on Marine Terrace MRT single-station access
- ShiokNest composite 43/100 reflects genuine limitations of scale, vintage, and facilities minimalism
- Recent 2-year PSF trend shows some volatility ($1,320 → $1,238 → $1,430 → $1,310) — not a linear uptrend
Verdict
Martia Residence is a conviction play for a specific buyer: one who has internalised the arithmetic of freehold title versus 99-year leasehold across a 15–20 year holding period, who values Marine Terrace MRT doorstep access at 0.27 km more than a branded amenity deck, and who can look at a S$1,300–1,400 psf freehold D15 entry and recognise that the 50% discount to The Continuum (also freehold, also D15, at S$2,790 psf) is not a reflection of inferior underlying land value — it is a reflection of scale, age, and facilities differential that the market has priced linearly rather than structurally. The Investment score of 65/100 is the quantitative signal: the data suggests the capital appreciation thesis works here, and the 3.0% gross yield provides genuine income support that luxury peers at 2.0–2.5% cannot match.
The walkability score of 70/100 is solid for a boutique 2006 development, materially lifted by the 2024 TEL opening. The school belt is exceptional by D15 standards: Telok Kurau Primary at 0.65 km, Canadian International School at 1.14 km, CHIJ Katong Primary at 1.16 km, Tanjong Katong Girls’ School at 1.17 km, Broadrick Secondary at 1.24 km, EtonHouse International at 1.24 km, Chung Cheng High at 1.35 km, and Tao Nan School at 1.42 km. That is eight well-regarded schools within 1.5 km, including at least one within the 1 km MOE Phase 2C ballot zone (Telok Kurau Primary), a quantifiable financial benefit for families targeting primary school registration.
The weaknesses are real and worth stating honestly. The En-Bloc score of 47/100 reflects the genuine tension in this asset: a 20-unit freehold in D15 sitting on a small but characterful plot is structurally collective-sale-vulnerable if a developer values the plot for assembly with adjacent land, but the small unit count limits the financial upside if it does happen — 20 owners split a land-value cheque that would be handsome per-household but modest as a ratio to current market value. Liquidity is thin: 9 sales and 11 rentals over the tracked period in a 20-unit building means sellers face long listing timelines (6–12 months is realistic) and must price to market patiently. The 2006 vintage means M&E infrastructure is entering or past natural replacement windows, and the next sinking-fund cycle should be factored into total cost of ownership.
For the right buyer — a patient freehold-first owner-occupier with a long holding horizon, or a yield-aware investor who recognises the 3.0% gross yield plus 50% PSF discount as a genuine double-bottom-line — Martia Residence is one of the most under-recognised URA-zoned freehold entries in the TEL catchment. That is a scarcity argument that strengthens as the surrounding leasehold stock ages.