Midtown Residences

Overview & Key Facts

Midtown Residences is a 160-unit mixed-use development along Upper Serangoon Road in District 19, developed by Oxley Holdings in partnership with Lian Beng Group, and completed in 2016. Held on a 99-year lease from 2013, the development pairs a 12-storey residential tower with a two-storey commercial podium housing 107 retail and F&B units — a mixed-use format that puts dining, services, and everyday convenience literally at residents’ doorstep.

Oxley’s signature approach to mixed-use developments is evident at Midtown Residences: compact, efficiently designed residential units stacked above an active commercial base that generates foot traffic and provides amenities without the need to leave the building. The 160 residential units range from 1-bedroom-plus-study to 4-bedroom penthouses, with the compact end of the range (from approximately 42 sqm) targeting investors and young professionals, while the penthouses (up to 154 sqm) cater to families seeking more space.

The Hougang-Serangoon corridor has evolved significantly since Midtown Residences was launched, with NEX Mall cementing itself as the area’s retail anchor and the North-East Line providing established MRT connectivity. At approximately $1,100–$1,400 PSF, the development positions itself as an accessible entry point into condominium living in the OCR, with the commercial component adding a lifestyle dimension that pure residential developments cannot match.

Location & Connectivity

Midtown Residences sits on Upper Serangoon Road in the Hougang planning area, benefiting from established public transport infrastructure. Hougang MRT (NE14) on the North-East Line is within walking distance, providing direct access to Serangoon interchange (one stop), Dhoby Ghaut, Clarke Quay, and HarbourFront without transfers. The upcoming Defu MRT on the Cross Island Line will add a second station option when operational, further improving the area’s transit connectivity.

The Kallang-Paya Lebar Expressway (KPE) and Central Expressway (CTE) are readily accessible for drivers, providing efficient routes to the CBD (20 minutes), Changi Airport (20 minutes), and Orchard Road (15–20 minutes). Bus services along Upper Serangoon Road supplement the MRT connections for local travel within the Hougang-Serangoon belt.

The neighbourhood’s retail infrastructure is anchored by NEX Mall at Serangoon, one of the largest suburban malls in Singapore, offering a comprehensive range of retail, dining, cinema, and grocery options. Hougang Mall, Heartland Mall, and the Hougang Avenue 1 shophouse strip add local flavour. The commercial podium within Midtown Residences itself houses tuition centres, a dance studio, eateries, and convenience services — creating a self-contained lifestyle ecosystem.

Schools & Education

Facilities

Midtown Residences offers a respectable facilities suite for a 160-unit development: swimming pool, children’s pool, pool deck, gymnasium, fitness corner, playground, basketball court, pavilion, BBQ pit, family lawn, and a roof garden. The rooftop terrace is a highlight, providing residents with a communal retreat that offers views of the surrounding Hougang landscape. At 160 units, the facilities are proportionate — not the extensive resort-style offering of larger developments, but sufficient for daily recreation.

The real facilities differentiator is the commercial podium below. Having diverse F&B options, services, and retail within the same development effectively extends the “amenities” available to residents beyond the traditional pool-gym-BBQ formula. The gymnasium is adequately equipped for basic fitness routines, the pool provides a cooling reprieve, and the BBQ facilities service casual entertaining needs.

“The condo has a beautiful garden with pavilion and BBQ pit, a swimming pool, and a private gym. The mixed development concept with tuition centres and shops downstairs is genuinely convenient. The rooftop garden is a nice touch for evening relaxation with city views.”

— Resident via EdgeProp

Unit Sizes & Layout

Midtown Residences’ unit mix is tailored to the investment and young-professional demographic that Oxley’s mixed-use format attracts. The smallest 1-bedroom-plus-study units start at approximately 42 sqm (452 sq ft), efficient studios designed for singles or couples. Two-bedroom units at 60–62 sqm provide a more liveable footprint, while 3-bedrooms at 66–69 sqm accommodate small families. The penthouses — available in 2-bedroom (78–80 sqm), 3-bedroom (120–122 sqm), and 4-bedroom (131–154 sqm) configurations — offer the most generous proportions and double-volume ceilings.

The compact unit sizes reflect Oxley’s quantum-driven approach: keeping absolute prices accessible to maintain investor demand and rental marketability. The finishes are functional without being premium — adequate for the price point but unlikely to impress buyers accustomed to luxury-tier developments. The layouts are space-efficient with minimal wastage, though the smaller units inevitably feel compact and require creative furniture solutions.

Pricing & Market Position

Across 66 recorded transactions (all-time), sale prices range from $680,000 to $1,860,000, averaging $951,186.

Over the last 12 months, transactions averaged $1,620 psf.

Rents range from $1,500 to $4,600 per month across 289 rental transactions. Current rental yield sits at approximately 3.7%.

Rental Yield by Bedroom Type

Blended yield hides the spread between unit sizes — smaller units at MIDTOWN RESIDENCES typically rent harder per dollar of purchase price. The final column shows monthly rent per $100,000 invested, so unit sizes compare on equal capital:

Price Appreciation

From 2021 to 2026, the average PSF has appreciated by 20.8% (from $1,341 to $1,620 psf).

Neighbourhood Comparison

In the Hougang-Serangoon corridor, Midtown Residences competes with The Garden Residences (613 units, 99-year from 2017) and Forest Woods (519 units, 99-year from 2014). Both offer larger unit sizes, more extensive facilities, and a newer product at higher PSF. Midtown Residences differentiates through its mixed-use format and lower quantum, appealing to investors who prioritise rental yield efficiency over living space. Against other Oxley mixed-use developments like The Vales (517 units) in Sengkang, Midtown offers better MRT proximity with the Hougang NEL station.

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.

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 MIDTOWN RESIDENCES across multiple dimensions.

What Residents Say

“Perfect for my lifestyle as a working professional. I walk to Hougang MRT in the morning, and when I come home, dinner options are literally downstairs. The 2-bedroom is compact but well-designed — everything has its place. The rooftop garden is my favourite spot for unwinding after work. NEX Mall is one MRT stop away for anything I can’t find in the building.”

— Owner-occupier, 2-bedroom unit

“Bought this as an investment and it’s been solid. The mixed-use concept attracts tenants who value convenience — having F&B and services downstairs is a genuine selling point when showing the unit. Tenant turnover has been minimal. The quantum was accessible enough to keep my monthly outlay manageable, and the rental covers the mortgage comfortably.”

— Investor-owner, 1-bedroom-plus-study

“We live in a 3-bedroom penthouse and it works well for our small family. The double-height ceiling makes the space feel much larger than it is. Having tuition centres downstairs is genuinely convenient with school-age kids. The facilities are basic but adequate for our needs. Only wish the standard units were bigger — the compact ones are really tiny.”

— Family in penthouse unit

Strengths & Weaknesses

Verdict

Midtown Residences is a purpose-built investment vehicle with a lifestyle bonus. The mixed-use format, Hougang MRT access, and accessible quantum create a rental proposition that generates consistent demand from young professionals and small families drawn to the convenience of integrated commercial amenities. The 160-unit scale means a manageable MCST with reasonable maintenance costs, while the Oxley developer name provides market familiarity.

The limitations are transparent. With approximately 86 years remaining on the 99-year lease, the development has adequate runway for current buyers, but the compact unit sizes and functional-grade finishes position it firmly in the mass-market segment. Capital appreciation will be driven primarily by broader market forces and the neighbourhood’s evolution rather than scarcity or prestige factors.

The ideal buyer is an investor seeking an accessible-quantum unit with strong rental potential in a neighbourhood with established MRT connectivity and suburban demand. For owner-occupiers, the penthouses offer a more liveable proposition, though families requiring significant space should look at larger developments in the Hougang corridor. If you want a low-maintenance investment property that practically rents itself through location and convenience, Midtown Residences fits the brief.