Phoenix Residences

Overview & Key Facts

Phoenix Residences is a boutique 99-year leasehold condominium at 81–85 Phoenix Avenue in Bukit Panjang, District 23. Comprising just 74 units across three five-storey blocks, the development was completed in 2023 by USB (Phoenix) Pte Ltd, a joint venture involving OKP Holdings, HSB Holdings, and Ho Lee Group. Designed by AGA Architects, the project sits on approximately 3,972 sqm of land with a gross plot ratio of 1.4 — resulting in a low-density, low-rise compound that blends quietly into its surrounding landed housing enclave.

OKP Holdings is primarily known as a transport infrastructure and civil engineering group, with its property arm having delivered projects including the 546-unit LakeLife EC at Yuan Ching Road and the boutique Amber Skye along Amber Road. Phoenix Residences marks their foray into the Bukit Panjang landed belt, replacing the former Phoenix Heights apartments that were sold en bloc in August 2018 for $33.1 million. The development offers a mix of one-bedroom plus study to three-bedroom plus study layouts, positioned to attract young professionals, small families, and buyers drawn to low-rise private living without the price tag of a landed home.

What sets Phoenix Residences apart is its setting: a secluded corner site within a predominantly landed residential neighbourhood where buildings rarely exceed three storeys. For buyers who prioritise quiet, privacy, and a sense of exclusivity over mega-development facilities, this is the kind of under-the-radar project worth a closer look.

Location & Connectivity

Phoenix Residences sits within the mature Bukit Panjang estate, tucked away from the busier arterial roads. The nearest MRT station is Bukit Panjang MRT on the Downtown Line, approximately 850–900 metres away — a 10 to 12 minute walk through residential streets. For residents less inclined to walk in the heat, Phoenix LRT Station is closer and connects directly to Bukit Panjang MRT, providing a sheltered last-mile option. Drivers benefit from quick access to the Kranji Expressway (KJE) and Bukit Timah Expressway (BKE), with Orchard Road reachable in about 20 minutes during off-peak hours.

Daily essentials are well covered within a short radius. Hillion Mall, integrated with Bukit Panjang MRT, sits about a 5-minute walk away and offers supermarkets, food courts, retail, and a public library. Bukit Panjang Plaza and Junction 10 add further shopping and dining options. Supermarkets including Sheng Siong at Teck Whye, Giant at Choa Chu Kang Grove, and NTUC FairPrice at Jalan Teck Whye are all within a short drive or bus ride.

The school catchment is solid for families: Zhenghua Primary School, Bukit Panjang Primary School, and Fajar Secondary School are all within 1 km. Greenridge Secondary and Jurong Pioneer Junior College offer secondary and pre-university options in the immediate neighbourhood. For nature lovers, Dairy Farm Nature Park and Bukit Timah Nature Reserve are under a 10-minute drive away, lending a green character to this part of District 23.

Schools & Education

1 primary school within the 1 km Priority Phase balloting radius.

Facilities

As a 74-unit boutique development, Phoenix Residences offers a scaled-down but thoughtful facilities set. Residents have access to a swimming pool, a gymnasium, BBQ pavilion, children’s playground, and a function room. The compact footprint means facilities are never overcrowded — a tangible advantage over larger condos where pool access can be contested during weekends. The low-rise, five-storey design also means there is no lift lobby congestion, and the grounds maintain a private, village-like atmosphere.

“The condo feels like a private enclave. Because there are so few units, you never have to queue for the pool or gym. The surrounding landed estate keeps everything very quiet.”

— Resident feedback via PropertyReview.sg

The trade-off for boutique living is the absence of resort-scale amenities — there is no tennis court, no 50-metre lap pool, and no clubhouse with multiple function rooms. If extensive on-site recreational facilities are a priority, larger neighbouring developments will serve better. But for buyers who value quietness and low density above all else, the intimate scale of Phoenix Residences is a feature, not a limitation.

Unit Sizes & Layout

Phoenix Residences offers a curated range from one-bedroom plus study to three-bedroom plus study configurations, priced from approximately $1.1 million to $2.05 million. The PSF range of $1,719–$2,065 positions the development at a slight premium to older resale stock in Bukit Panjang, but below new launches in more central districts. Units are designed with practical, no-nonsense layouts that prioritise usable space over architectural flourishes — consistent with OKP’s pragmatic development approach.

The five-storey height means all units enjoy low-rise living without long lift waits. Upper-floor units in the blocks oriented away from Phoenix Avenue benefit from views over the surrounding landed rooftops and mature trees. The low plot ratio of 1.4 ensures generous spacing between blocks, which translates to natural ventilation and sunlight penetration even for lower-floor units. For a boutique project, the unit mix is sufficiently varied to attract both singles and small families.

Pricing & Market Position

Across 69 recorded transactions (all-time), sale prices range from $853,810 to $2,350,000, averaging $1,310,233.

Over the last 12 months, transactions averaged $1,781 psf.

Rents range from $3,000 to $5,100 per month across 18 rental transactions. Current rental yield sits at approximately 3.5%.

Rental Yield by Bedroom Type

Blended yield hides the spread between unit sizes — smaller units at PHOENIX 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 6.7% (from $1,501 to $1,603 psf).

Neighbourhood Comparison

In the immediate Bukit Panjang context, Phoenix Residences competes with The Dairy Farm (freehold, 477 units, closer to Hillview MRT) and Senja Residences EC (628 units, closer to Bukit Panjang MRT). The Dairy Farm offers a larger compound with more facilities and freehold tenure, but at a higher quantum. Senja Residences provides better MRT proximity but is a much larger EC with corresponding density. Phoenix Residences carves out a niche as the most intimate, low-density option — the 74-unit count is genuinely rare in District 23 where most condos run 300–600 units.

For investors comparing yield potential, rental listings for Phoenix Residences range from $3,488–$3,800 per month, translating to a gross yield of approximately 3.5%. This is competitive for the OCR segment but not exceptional. The investment thesis rests more on the scarcity value of a sub-100 unit boutique project in a landed enclave, plus the full 99-year lease runway from 2019, rather than on headline rental returns. For own-stay buyers, the comparison often comes down to a simple question: do you want quiet intimacy or comprehensive facilities? Phoenix Residences answers decisively in favour of the former.

Lease Decay Analysis

The 99-year lease runs from 2019, meaning approximately 7 years have already been consumed. Roughly 92 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 ~82 years remaining, which is still very bankable. The risk profile changes for longer holds.

ShiokNest Scores

Our proprietary scoring system evaluates PHOENIX RESIDENCES across multiple dimensions.

What Residents Say

“I chose Phoenix Residences specifically because it’s only 74 units. After years in a large HDB estate, the privacy here is a welcome change. The landed houses around keep everything calm and low-rise.”

— Owner-occupier feedback via 99.co

“Hillion Mall and the MRT are about 10 minutes on foot. Not the closest, but the LRT helps. For groceries and daily needs, you won’t feel shortchanged. The estate is quiet at night, which was our main priority.”

— Resident review via PropertyGuru

“The main drawback is that it’s not walking-distance to the MRT in hot weather. You’ll want the LRT or a car. But if you’re a driver, the expressway access via KJE and BKE makes up for it.”

— Prospective buyer observation via eSingaporeproperty

Strengths & Weaknesses

Verdict

Phoenix Residences is a development for buyers who know what they want: quiet, low-density living in a mature estate, without the price tag of a landed home or the noise of a mega-development. At 74 units, it offers a level of privacy and community intimacy that simply cannot be replicated in a 500-unit compound. The landed housing enclave context means the immediate surroundings are unlikely to see high-rise development, preserving the low-rise character of the neighbourhood.

The honest trade-offs are the 900m walk to Bukit Panjang MRT and the limited on-site facilities. If MRT proximity is non-negotiable, this is not the right project. Similarly, if resort-grade pools and tennis courts are important, larger developments like The Dairy Farm or Senja Residences EC will be more suitable. The 99-year lease from 2019 provides a full runway for both owner-occupiers and investors, with no CPF or financing concerns for the foreseeable future.

For the right buyer — one who drives or is comfortable with the LRT feeder connection, values residential serenity, and sees upside in the Bukit Panjang estate’s continuing maturation — Phoenix Residences is a compelling boutique option that delivers on its promise of quiet, private, low-rise living in the western heartlands.