Rajah Towers
Overview & Key Facts
Rajah Towers is a small, freehold apartment development tucked away at 32 Jalan Rajah, in the Balestier pocket of District 12. Completed in 1983–1984 by Holly Realty Company Pte Ltd, it houses just 98 units spread across a single tower — the kind of low-key, low-density project that has quietly accumulated value over four decades while the surrounding Novena-Balestier corridor transformed around it.
What makes Rajah Towers worth a closer look in 2026 isn’t flash or amenity breadth — it’s the combination of freehold tenure, prime-adjacent location, and genuinely large unit sizes at a psf that sits well below the freehold condos shooting up along Moulmein Rise and Thomson Road. With average transactions hovering around S$1,420 psf and a median price of S$2.7 million, it trades at a meaningful discount to nearby newer freehold stock, despite sitting on land that is anything but replaceable.
The 4-year PSF trajectory tells a clear story: S$1,136 → S$1,278 → S$1,284 → S$1,390 → S$1,431 psf. That’s roughly a 26% uplift over four years — quietly strong for an older freehold development that most buyers have never heard of. This is a textbook “under-the-radar freehold” where scarcity, lease tenure, and central adjacency are doing the heavy lifting rather than marketing spend or shiny facilities.
Location & Connectivity
Rajah Towers sits in the Jalan Rajah cluster off Balestier Road, roughly 610m (about a 7–8 minute walk) from Toa Payoh MRT on the North-South Line. Novena MRT is a further 970m away, and Braddell is within 1.5km. The walk to Toa Payoh is flat but crosses a couple of major roads — workable daily, not delightful in midday heat. For most residents, the default is a 3-minute bus hop or a quick drive.
For car-owning households, the location is genuinely strong. The Central Expressway (CTE) entrance is within a minute’s drive, putting Orchard Road, the CBD, and the Newton / Novena medical belt all within a 10-minute reach in normal traffic. The PIE is equally close, opening up the east and west corridors without fuss. This is the kind of central-adjacent positioning that freehold buyers pay up for — and part of why the site itself is effectively irreplaceable at current pricing.
For everyday life, Balestier Road’s food and retail strip is a short walk away — bak kut teh, chicken rice, kopitiams, lighting shops, and Shaw Plaza with its FairPrice and cinema. Zhongshan Mall and United Square (Novena) are a short drive, and Velocity @ Novena Square adds another big-box layer of dining and retail. The Novena medical cluster — including Mount Elizabeth Novena, Thomson Medical, and the upcoming Health City Novena — adds a long-term demand tailwind that few other districts can claim.
Schools & Education
2 primary schools within the 1 km Priority Phase balloting radius.
| School | Type | Distance |
|---|---|---|
| Beatty Secondary School | secondary | Within 1 km |
| CHIJ Secondary (Toa Payoh) | secondary | Within 1 km |
| School of Science and Technology | jc | Within 1 km |
| CHIJ Our Lady Queen of Peace | primary | Within 1 km |
| Balestier Hill Primary School | primary | Within 1 km |
| Pei Chun Public School | primary | ~1.2 km |
| New Town Primary School | primary | ~1.2 km |
| Manjusri Secondary School | secondary | ~1.3 km |
Facilities
This is not the section where Rajah Towers shines. As a 1984-vintage 98-unit development, the facilities list is firmly in the “functional, not fancy” category: a swimming pool, a sauna, a squash court, a tennis court, and 24-hour security. There is no gym, no clubhouse, no function room, no BBQ pavilions, no infinity-edge rooftop — none of the facility theatre that defines newer launches.
For some buyers this will be a dealbreaker; for others, it’s a feature. Low facility count means low maintenance fees and fewer common-area headaches, and the squash & tennis courts — genuinely rare in modern small developments — appeal to a specific sporty niche. The sauna is a quiet bonus that most new condos no longer bother with. If you define “amenities” as “things my family will actually use weekly,” Rajah Towers’ inventory may serve you better than a 40-facility mega-development where you pay for a branded co-working lounge and never set foot in it.
The carpark is lot-based and generally adequate for owner-occupiers. Landscaping is mature rather than manicured — the site has the settled, leafy character of an older freehold compound rather than the glossy-new feel of a 2024 launch. For buyers who prioritise tenure and land over facility sprawl, that’s exactly the trade they’re signing up for.
Pricing & Market Position
Based on 11 recorded transactions, sale prices range from $2,400,888 to $3,220,000, averaging $2,755,081 (~$1,420 psf).
Rents range from $3,000 to $8,000 per month across 47 rental transactions. Current rental yield sits at approximately 2.1%.
Price Appreciation
From 2021 to 2025, the average PSF has appreciated by 25.9% (from $1,136 to $1,431 psf).
Neighbourhood Comparison
The comparison set for Rajah Towers splits cleanly into two camps. On one side are the newer 99-year launches in D12 — The Orie (S$2,730 psf), Gem Residences (S$1,832 psf), Eight Riversuites (S$1,642 psf), and Trevista (S$1,698 psf). These offer modern facilities, fresher leases, and stronger rental yields, but buyers are paying 15–90% more per square foot and acquiring a depreciating leasehold asset.
On the other side is Verticus — the closest freehold comparable in the area — trading around S$2,122 psf. That’s a ~50% premium over Rajah Towers for a newer freehold building with a gym and a fresher facade. For buyers who want freehold but need modern amenities, Verticus is the cleaner choice. For buyers willing to renovate and trade facility breadth for quantum efficiency, Rajah Towers offers substantially more square footage at the same total budget — and the en-bloc optionality is stronger at 98 units vs 162.
| Development | Tenure | TOP | Units | ~Avg PSF |
|---|---|---|---|---|
| RAJAH TOWERS | Freehold | 1984 | 98 | $1,420 |
| THE ORIE | 99 yrs lease commencing from 2024 | 2025 | 52 | $2,730 |
| EIGHT RIVERSUITES | 99 yrs lease commencing from 2011 | 2016 | 843 | $1,643 |
| GEM RESIDENCES | 99 yrs lease commencing from 2015 | — | 578 | $1,838 |
| TREVISTA | 99 yrs lease commencing from 2008 | — | 590 | $1,702 |
| VERTICUS | Freehold | 2021 | 162 | $2,122 |
ShiokNest Scores
Our proprietary scoring system evaluates RAJAH TOWERS across multiple dimensions.
What Residents Say
“Quiet, mature estate with good bones. You can tell the units were built when developers still cared about livable layouts — our 3-bedroom has a proper kitchen and a utility yard, something you simply don’t get in new launches at this price.”
— Owner-occupier review paraphrased from Singapore Expats community
“Location is fantastic for driving — CTE within a minute, Orchard in 10. The MRT walk is doable but not pleasant in the heat. Great for families with one car.”
— Resident review via PropertyGuru
The Singapore Expats directory shows an 8.8/10 rating from a small but consistent review base — skewed positive, with recurring praise for quiet living, unit size, and the freehold factor. The most common gripes cluster around facility limitations (no gym, older pool) and the age of un-renovated interiors. Management is described as adequate rather than stellar — typical for a small MCST with a modest sinking fund.
A pattern worth flagging: several reviewers mention they bought planning to “hold for the en-bloc.” That sentiment is common in older freehold compounds and can influence resale availability — owners willing to wait for a collective sale outcome may be reluctant to sell individually at current pricing.
Strengths & Weaknesses
- Freehold tenure — rare and land-scarce in District 12
- Meaningful PSF discount vs newer freehold comparables (35–50% below Verticus)
- Generous 1980s-era unit layouts with real kitchens and utility yards
- Strong en-bloc potential (67/100) — small unit count, freehold, prime-adjacent
- Under 10 minutes by car to Orchard, CBD, and Novena medical belt
- Low maintenance fees due to modest facility count
- Rare squash and tennis courts for a small development
- 26% PSF appreciation over 4 years despite age
- Mature, leafy compound with settled character
- Novena medical cluster anchors long-term tenant demand
- Minimal facilities — no gym, no clubhouse, no function rooms
- MRT not comfortably walkable (~610m to Toa Payoh, crosses major roads)
- 40+ year old building — un-renovated units need S$80k–S$150k refresh
- Gross yield of ~2.13% is weak vs leasehold peers
- Limited transaction volume (11 sales / 46 rentals in 12m) can slow exit
- Older MCST — smaller sinking fund, less reserve depth for major works
- Carpark is lot-based with no gantry or EV charging infrastructure
- Building age will increasingly tighten bank LTV and CPF usage limits
- No developer marketing or branded story — purely a fundamentals play
Verdict
Rajah Towers is a quiet, idiosyncratic option that rewards a specific kind of buyer: someone who values freehold tenure, central-adjacent location, and generous floor area more than facility theatre or fresh-TOP polish. At ~S$1,420 psf, it trades at roughly a 35–50% discount to comparable freehold stock along the Novena–Moulmein corridor — and offers materially more square footage for the quantum.
The case against is easy to articulate: no gym, dated facilities, a not-quite-walkable MRT, and a 40-year-old building envelope that requires renovation capex. Rental yield at ~2.13% is mediocre — this is not a cash-flow play. Investors chasing yield will find Centra Suites (D14) or Eight Riversuites more productive; investors chasing capital preservation and long-run scarcity may find Rajah Towers’ freehold status and land-bank quality the more compelling bet.
The en-bloc score of 67/100 is the spicy subplot. With 98 units on freehold land in a prime-adjacent district, Rajah Towers is a plausible — not imminent — collective sale candidate. It has the right ingredients: small unit count (easier consensus), freehold tenure (developer-attractive), central location, and a building old enough that CPF/bank financing for new buyers will increasingly tighten. Timing is uncertain; the optionality is real.