Ocean Front Suites
Overview & Key Facts
Ocean Front Suites is a boutique 58-unit condominium at Jalan Loyang Besar in District 17, developed by Regal Realty Pte Ltd and completed in 2016. On the surface, the numbers look attractive: average transacted price of S$742,550, median of S$620,000, and a gross yield of 4.26% on rental income averaging S$2,102 per month. Rising PSF figures — S$1,208 four years ago, trending to S$1,553 recently — further suggest momentum.
These numbers are a mirage. Every single figure must be read through the lens of one overwhelming fact: Ocean Front Suites sits on a 946-year lease commencing 1937 that, by virtue of sub-tenure arrangements, leaves approximately 10 years of effective lease remaining as of 2026. This is the same structural profile as Casa Pasir Ris on the same street — the same Jalan Loyang Besar address, the same lease structure, the same outcome for buyers. The only difference is that Ocean Front Suites is a newer building, having obtained its TOP in 2016 rather than 1997.
The market for this property consists of two narrow groups: en-bloc speculators betting on a collective sale before lease expiry, and cash-rich investors who understand they are accepting ~10-year yield income in exchange for a heavily discounted entry price. For the remaining 99% of the buyer population — CPF users, financed buyers, families, yield investors planning a 15-year hold, anyone seeking a conventional residential investment — Ocean Front Suites is categorically off the table.
Location & Connectivity
Jalan Loyang Besar is a quiet residential back-road in the Pasir Ris–Loyang corridor, flanked by low-density landed housing and light industrial fringe. It is green, calm, and largely car-dependent — a combination that suits a certain lifestyle but leaves residents entirely reliant on private transport for daily necessities. The street sits roughly equidistant between Pasir Ris town centre to the west and the Changi Airport cluster to the east.
The most important location fact about Ocean Front Suites is what is absent: there is no MRT station within practical walking distance. The nearest rail access is Pasir Ris MRT (East-West Line), approximately 2–3 km away — reachable by bus but not on foot. The Changi Airport MRT stations (Changi Airport and Expo on the Changi Airport Branch) are in the opposite direction and similarly require a vehicle to access. There is no planned future MRT station in the Loyang corridor under any published rail expansion plan.
For drivers, the location has genuine merit in one specific employment corridor: the Changi Airport and Changi Business Park cluster. The TPE provides fast access to the airport precinct (~10 minutes), Changi Business Park (~12 minutes), and Loyang Industrial Estate. SUTD at 2.5 km and Changi General Hospital are also reachable in under 15 minutes by car. However, commuting to the CBD takes 35–45 minutes off-peak and longer during peak hours. Pasir Ris Park and the coastal amenities of the far-east corridor are a genuine lifestyle asset, but they are recreational, not practical.
No schools are within walkable range of the development. The nearest options — Pasir Ris Crest Secondary, Meridian Primary, Elias Park Primary — all require transport. For a property with approximately 10 years of effective lease remaining, school catchment is largely an academic concern: the buyer profile will not primarily be young families.
Facilities
As a 2016 TOP development, Ocean Front Suites delivers a more contemporary facilities package than its older neighbour Casa Pasir Ris (1997). Residents can expect a swimming pool, gymnasium, and landscaped communal areas consistent with a boutique condominium of its era and price segment. The low 58-unit count means facilities are never crowded — a practical benefit that residents of larger developments rarely enjoy.
The 2016 vintage means fixtures, fittings, and common-area finishes are in a broadly good state. Unlike 1990s-era developments where kitchens and bathrooms universally require replacement, a 2016 completion allows buyers to occupy or lease units without immediate renovation spend — a meaningful practical distinction when the lease clock is already ticking.
For the rental market, the facilities represent a reasonable standard for the price point and location. Tenants renting at S$2,102–S$2,200 per month in the Loyang corridor are not expecting resort-level amenities — they are optimising for space, quietness, and proximity to the Changi employment cluster. On those terms, Ocean Front Suites delivers adequately.
Unit Sizes & Layout
Ocean Front Suites houses 58 units in a boutique low-rise configuration. The average transacted price of S$742,550 (median S$620,000) and the PSF range suggest a unit mix weighted toward smaller configurations — predominantly 1- and 2-bedroom layouts — reflecting both the developer’s intent to hit accessible absolute price points and the market’s subsequent discounting of lease risk into smaller, lower-quantum units.
The 2016 construction standard means unit interiors are to a contemporary finish by the standards of the era: reasonable kitchen specifications, standard-grade bathroom fittings, and layouts that are functional if not generous. Units do not carry the 1990s-vintage layout generosity of a Casa Pasir Ris or the premium finishings of a CCR boutique development. What they offer is a modern shell at a heavily discounted price — a price that reflects entirely the lease position, not any deficiency in the building itself.
For buyers who understand and accept the lease position, the unit pricing does create an unusual dynamic: a 2016-built condominium at prices that would not be achievable for any comparable building with a normal lease. The question is not whether the unit is good value relative to its physical quality — it is whether the en-bloc or carry-income thesis justifies the all-cash commitment required.
| Bedrooms | Transactions | Avg PSF | Avg Price |
|---|---|---|---|
| 0 BR | 13 | $1,499 | $609,446 |
| 3 BR | 3 | $1,237 | $1,319,333 |
Pricing & Market Position
Based on 16 recorded transactions, sale prices range from $575,000 to $1,638,000, averaging $742,550.
Rents range from $1,500 to $3,000 per month across 80 rental transactions. Current rental yield sits at approximately 4.3%.
Price Appreciation
From 2021 to 2024, the average PSF has appreciated by 28.6% (from $1,208 to $1,553 psf).
Neighbourhood Comparison
No conventional D17 comparison is truly apt for Ocean Front Suites, because it occupies a different asset category to every other development in the district. Among the full-lease alternatives, Coastal Cabana (S$1,790 PSF, 99-year lease, 748 units, near Pasir Ris MRT) provides genuine MRT access, full CPF eligibility, and mainstream bank financing at a higher price point — but delivers approximately 88 years of remaining lease rather than 10. The Jovell (S$1,394 PSF, 99-year lease, 428 units) is a low-rise resort-style development with full-lease access to CPF and financing. Kassia (S$2,032 PSF, freehold, 276 units) represents the premium freehold tier in the broader Changi corridor with unlimited tenure.
The only genuinely comparable asset in the database is Casa Pasir Ris — directly across Jalan Loyang Besar, with the identical 946-year-from-1937 sub-tenure profile. Casa Pasir Ris transacts at a similar price tier and faces identical regulatory restrictions. The key difference is building age: Casa Pasir Ris completed in 1997 vs Ocean Front Suites in 2016, giving Ocean Front Suites a marginally better physical asset. Both are held by the same distressed-lease market dynamics, the same en-bloc-or-zero exit thesis, and the same cash-only buyer pool.
Beyond Singapore’s borders, the closest investment analogues are other sub-30-year leasehold assets nationally: Riverwalk Apartments (Clarke Quay, ~45 years remaining) and International Plaza (Tanjong Pagar, ~43 years remaining) both achieved sustained developer interest and en-bloc activity due to prime-district locations. Ocean Front Suites is in D17 — a valid but less combustible location for en-bloc speculation. The speculative case exists; it is not guaranteed, and the D17 location introduces more developer-appetite uncertainty than a prime-district equivalent.
- Kassia: S$2,032 PSF — freehold, 276 units, full CPF and financing.
- Coastal Cabana: S$1,790 PSF — 99yr, 748 units, MRT-adjacent, full eligibility.
- The Jovell: S$1,394 PSF — 99yr, 428 units, resort-style, full eligibility.
- Ocean Front Suites: ~S$1,553 PSF — ~10yr effective lease remaining, cash only, no CPF, no bank loan.
- Casa Pasir Ris: ~S$1,162 PSF — identical lease profile, 1997 vintage.
| Development | Tenure | TOP | Units | ~Avg PSF |
|---|---|---|---|---|
| OCEAN FRONT SUITES | 946 yrs lease commencing from 1937 | 2016 | 58 | — |
| COASTAL CABANA | 99 years leasehold | 2026 | 748 | $1,791 |
| THE JOVELL | 99 yrs lease commencing from 2018 | 2021 | 428 | $1,395 |
| KASSIA | Freehold | 2024 | 276 | $2,032 |
| HEDGES PARK CONDOMINIUM | 99 yrs lease commencing from 2010 | 2014 | 501 | $1,153 |
| PARC KOMO | Freehold | 2021 | 276 | $1,628 |
Lease Decay Analysis
The 99-year lease runs from 1937, meaning approximately 89 years have already been consumed. Roughly 10 years remain.
| Year | Lease remaining | Implication |
|---|---|---|
| 2026 (now) | ~10 years | CPF restrictions may apply |
| 2036 | Expiry | Lease reverts to state |
ShiokNest Scores
Our proprietary scoring system evaluates OCEAN FRONT SUITES across multiple dimensions.
What Residents Say
“It is a very quiet place to live. Small development, nobody bothers you, the surroundings are green. But you have to have a car — there is nothing you can walk to. And everybody in the building knows about the lease situation. At every AGM it comes up.”
— Owner-occupier, via property listing forum
“I bought here because the price was the lowest in the area and I work in Changi Business Park. The commute is ten minutes by car. I knew about the lease before I bought. My hope is the en-bloc happens in the next four or five years while there is still a meaningful reserve price to be had. If it does not, I accept the risk.”
— Investor-buyer, via HardwareZone Property Forum
“Tenants do not ask about the lease — that is the owner’s problem, not theirs. We get decent rent for the east and the tenants tend to be people who work around Changi or the airport. They want peace and space, and this gives them both. But as a landlord you have to be honest: you are running down the clock.”
— Landlord-investor, via 99.co
The resident and investor community at Ocean Front Suites is small, cash-wealthy, and fully aware of the lease reality. AGM discussions focus on collective sale preparedness rather than facilities improvements. The development’s quiet, boutique character is genuinely appreciated by those who live there — but the conversation is always, inevitably, about what happens before 2036.
Strengths & Weaknesses
- En-bloc score 56/100 — Changi/Loyang corridor has long-term redevelopment interest; collective sale is the primary exit thesis
- 2016 TOP — newer building than comparable distressed-lease assets (Casa Pasir Ris 1997); contemporary finishes reduce immediate renovation spend
- Boutique 58-unit scale — private, quiet, no crowded corridors or pool congestion
- Gross yield 4.26% — above-average for the east on a cash basis with no financing cost drag
- Changi cluster proximity — 10-15 minutes by car to Changi Airport, Changi Business Park, and Loyang Industrial Estate
- Lowest absolute price in D17 — average S$742K, median S$620K; reflects lease discount but provides cash investors very low entry
- Passive rental market — 80 rental transactions recorded; tenants in Changi-employment cluster provide carry income while awaiting en-bloc
- Small owner pool — 58 units means achieving 80% collective-sale consent is logistically simpler than in larger developments
- CRITICAL: ~10 years of effective lease remaining — 946-year lease from 1937 sub-tenure expires approximately 2036
- CPF fully blocked — MAS prohibits CPF usage for properties with less than 30 years remaining lease; no exceptions
- No bank financing — mainstream lenders will not mortgage sub-20-year lease properties; cash-only purchase required
- Resale market severely restricted — next buyer faces identical restrictions; exit options are limited to the same cash-only, en-bloc-speculator pool
- No walkable MRT — Pasir Ris EWL is 2-3 km away; car ownership is non-negotiable
- Car-dependent location — no hawker centre, supermarket, or meaningful retail within walking distance
- En-bloc is speculative — D17 has less developer urgency than prime districts; no guarantee of collective sale before lease expiry
- Rising PSF trend is misleading — reflects thin volume and en-bloc speculation, not genuine residential demand
- Yield is unsustainable long-term — as lease shortens, competition for tenants intensifies and resale value trends toward zero
- MCST maintenance risk — end-of-lease developments often defer major works; request financial statements before committing
- Not suitable for families — no schools walkable, no MRT, no neighbourhood commercial within comfortable distance
- Investment score 40/100 — reflects the fundamentally speculative rather than investment-grade nature of this asset
Verdict
Ocean Front Suites is a distressed-lease asset dressed in a newer building. The 2016 TOP creates an optical illusion of modernity and value that the fundamental lease position immediately dissolves. This is, in all material respects, the same investment as Casa Pasir Ris across the street: a 946-year-from-1937 tenure, approximately 10 years of effective lease remaining, and an investment thesis that depends entirely on either en-bloc proceeds or 10 years of cash rental income before the asset returns to zero.
The en-bloc score of 56/100 is the central number. The Loyang–Changi Airport corridor has genuine long-term development interest — proximity to Changi Airport, the broader Changi Aviation Hub strategy, and potential industrial and logistics redevelopment all create a plausible case for developer attention. However, D17 is not the prime redevelopment pressure zone of Districts 1, 2, 9, or 10 where sub-30-year lease assets have historically achieved the most successful collective sales. The en-bloc probability is real but not certain, and the timeline is unknown.
“You are not buying a condominium here. You are buying a lottery ticket on a collective sale. If the en-bloc goes through at a good reserve price, you win. If it does not happen within the next 5–7 years, the value trajectory becomes very difficult. That is the only honest way to describe this purchase.”
— Property analyst commentary, SRX forum
The 4.26% gross yield looks attractive in isolation. In context, it is yield on a wasting asset. As the effective lease shortens further, the universe of eligible tenants does not change (tenants have no CPF or financing restrictions), but the universe of eligible buyers on resale narrows to the same cash-only, en-bloc-speculator cohort as today. Each passing year reduces the realistically achievable resale price, meaning the yield income must be considered partial return-of-capital rather than pure investment return.
The investment score of 40/100 is appropriately sober. This is not a property for anyone who has not independently verified the lease position with a conveyancing lawyer, confirmed their ability to fund the full purchase in cash, and stress-tested their scenario against the possibility that no collective sale materialises before the effective lease expires.