St Martin Residence
Overview & Key Facts
St Martin Residence is an 82-unit freehold condominium on St. Martin’s Drive in District 10, developed by Premier Properties Pte Ltd and completed in 2001. It occupies one of the most prestigious residential addresses in Singapore — the embassy belt corridor between Tanglin Road and Orchard Road — at a price point that represents a material discount to the newer freehold developments competing for the same buyer profile.
The headline number is a profitability score of 91/100 — one of the highest recorded in the dataset, and a figure that anchors the entire investment thesis. At an average transacted PSF of S$2,421 over the trailing twelve months, St Martin Residence sits measurably below its freehold D10 peers: Leedon Green (S$2,784 PSF), Hyll on Holland (S$2,648 PSF), and Skye at Holland (S$2,945 PSF on 99-year tenure) all transact above S$2,600 PSF. The gap is not trivial. It represents a structural entry discount into a location that commands no apology to any of those alternatives on address quality, MRT access, or school catchment.
Napier MRT (Thomson-East Coast Line) sits 160 metres from the development. That is not a claim rounded from a map — it is a figure that places St Martin Residence among the most transit-proximate freehold condominiums in Singapore’s core central region. TEL access from Napier connects directly to Marina Bay, the CBD, and Woodlands without interchange for the majority of commute destinations, fundamentally repositioning what was already a prestigious address into one of the best-connected in D10.
Location & Connectivity
St. Martin’s Drive is one of Singapore’s most quietly prestigious residential streets. It sits in the Tanglin enclave, bordered by the Botanic Gardens to the north, the Orchard Road belt to the east, and the embassy and good-class bungalow corridor that defines the western fringe of District 10. This is not a secondary D10 address elevated by marketing language. It is genuinely one of the most sought-after residential pockets in the city-state.
The MRT position has been transformed by the Thomson-East Coast Line. Napier TEL is 160 metres from the development — a walk of under two minutes in any reasonable assessment. Napier connects directly to Orchard (two stops, also served by MRL), Stevens (interchange with DTL), and the full TEL spine from Woodlands to Sungei Bedok. For residents commuting to Marina Bay Financial Centre, Shenton Way, or the Orchard-Somerset commercial belt, TEL from Napier is faster than any alternative routing from D10 addresses that rely on the North-South or Circle lines. Orchard Boulevard TEL is 0.87 km away and Orchard MRL/TEL at 0.90 km adds North-South Line access to the network.
The school catchment is exceptional and reinforces the family rental thesis. Methodist Girls’ School (Secondary) is 360 metres from the development — within the 1 km priority registration zone. MGS Primary at 520 metres extends the Methodist Girls’ priority to the primary phase. Chatsworth International School at 230 metres is the closest international school of any relevance in Singapore’s CCR private school map, and directly supports rental demand from the diplomatic and international corporate community that makes St. Martin’s Drive its preferred residential corridor. ISS International School at 540 metres adds further international curriculum coverage.
Cold Storage Tanglin, the Tanglin Shopping Centre food and medical cluster, and the specialty retail of Holland Village (accessible by TEL or short drive) address daily retail needs. The Botanic Gardens UNESCO World Heritage Site is within walking distance for green space. This is not a trade-off address — it is a location that most D10 buyers spend a premium specifically to access.
Schools & Education
1 primary school within the 1 km Priority Phase balloting radius.
| School | Type | Distance |
|---|---|---|
| Chatsworth International School (Orchard) | international | Within 1 km |
| Methodist Girls' School | secondary | Within 1 km |
| Methodist Girls' School (Primary) | primary | Within 1 km |
| ISS International School (Paterson) | international | Within 1 km |
| Tanglin Secondary School | secondary | Within 1 km |
| ISS International School (Preston) | international | Within 1 km |
| Nanyang Primary School | primary | ~1.0 km |
| St. Anthony's Primary School | primary | ~1.1 km |
Facilities
St Martin Residence was completed in 2001 at a scale of 82 units, and its facilities reflect the boutique residential standard of that era: a swimming pool, gymnasium, and communal landscaped grounds appropriate to a low-density development in the Tanglin enclave. There are no resort-tier amenity stacks, no sky terraces, and no multi-facility clubhouse infrastructure associated with large-footprint contemporary projects.
This should be contextualised honestly. The residents of St. Martin’s Drive are not paying S$2,421 PSF for a tennis court or a function room. They are paying for the address, the freehold tenure, and — since 2021 — for Napier TEL at 160 metres. The facilities position is what it is: adequate for a boutique owner-occupier and longer-stay tenant community, not a competitive differentiator versus Leedon Green or Hyll on Holland which offer more extensive amenity stacks at higher PSF premiums.
The MCST dynamic at 82 units is worth noting for investors calculating net yield. A development of this scale carries lower shared-cost overhead than a 300-unit or 600-unit project. Communal areas are maintained within a manageable budget, and decisions at MCST level do not require consensus from hundreds of stakeholders. Maintenance fee structures at boutique D10 developments tend to be lean relative to the gross monthly rent achievable in this location, which supports net yield margins in a way that larger-facility competitors cannot match on a per-unit basis.
Unit Sizes & Layout
The median transaction price of S$3,750,000 at St Martin Residence positions this firmly as a large-format, low-density residential offering. At 82 units on St. Martin’s Drive, the development configuration is consistent with the spacious layout conventions of early-2000s CCR boutique projects — larger than the contemporary investor-grade compact product, and designed around owner-occupier and long-stay family tenancy rather than short-cycle studio rental. The average PSF of S$2,421 over the trailing twelve months is derived from 15 sales transactions, which is a thin-but-functional dataset for a development of this scale and entry quantum.
The PSF trajectory tells a story of recovery that warrants attention: from S$2,287 to S$2,260, then a dip to S$1,827, followed by a recovery to S$2,426 and stabilisation at S$2,413. The S$1,827 trough — a 19% drawdown from prior levels — and subsequent recovery to S$2,413 is a meaningful resilience signal. CCR freehold assets in this location historically absorb market cycles and re-price to fundamentals. The recovery trajectory is consistent with a development whose location quality is durable regardless of broader market sentiment.
The rental profile reinforces the family and diplomatic community thesis. Average and median rent of S$6,400 per month, across 180 transactions, signals a stable, premium rental base rather than a speculative or thin market. S$6,400 per month in D10 along the Tanglin corridor is consistent with a large-format two- or three-bedroom unit targeting the embassy belt tenant profile: corporate expat assignees, diplomatic staff, and longer-stay international residents who prioritise school access (Methodist Girls’ 360m, Chatsworth International 230m) and commute options (Napier TEL 160m).
The gross yield of 2.05% is the honest trade-off number. This is a luxury-segment yield in a high-capital-cost location — consistent with comparable D9/D10 freehold addresses and not a surprise to any informed CCR buyer. Buyers seeking 4%+ yield should look outside the Orchard-Tanglin belt. Buyers whose primary thesis is capital value, tenure permanence, and address quality — with yield as a secondary contribution to holding cost — are in the right asset class.
| Bedrooms | Transactions | Avg PSF | Avg Price |
|---|---|---|---|
| 1 BR | 4 | $2,415 | $1,443,750 |
| 3 BR | 2 | $2,434 | $3,040,000 |
| 4 BR | 5 | $2,426 | $3,839,600 |
| 5 BR | 4 | $1,592 | $4,329,500 |
Pricing & Market Position
Based on 15 recorded transactions, sale prices range from $1,285,000 to $5,000,000, averaging $3,224,733 (~$2,401 psf).
Rents range from $2,800 to $12,300 per month across 183 rental transactions. Current rental yield sits at approximately 2.1%.
Price Appreciation
From 2021 to 2026, the average PSF has appreciated by 5.5% (from $2,287 to $2,413 psf).
Neighbourhood Comparison
The D10 freehold CCR competitive landscape for St Martin Residence is defined by a consistent pattern: newer freehold and 99-year leasehold developments transact at a meaningful PSF premium while offering more contemporary facilities. St Martin Residence’s counterargument is a profitability score of 91/100, Napier TEL at 160 metres, and a PSF that sits S$200–S$500 below the field.
Skye at Holland (S$2,945 PSF, 99yr/2024, 666 units) is the highest-priced competitor and the only leasehold entry in the comparison. A 99-year lease commencing 2024 commands a premium to a 2001 freehold on contemporary finishings and facilities — but the tenure differential is structural and permanent. Buyers comparing on a 20-year hold horizon should weight lease decay accordingly. Leedon Green (S$2,784 PSF, FH, 638 units) is the most direct freehold peer: a larger, better-facilitated freehold development at a 15% PSF premium. The premium reflects scale, contemporary build quality, and facilities depth — but it does not reflect MRT proximity; Leedon Green’s nearest station is Farrer Road CCL at approximately 0.8 km. St Martin Residence’s 160m to Napier TEL is a structural transit advantage over Leedon Green that the PSF gap does not yet adequately price.
Hyll on Holland (S$2,648 PSF, FH, 319 units) targets a similar buyer profile to St Martin Residence: boutique-to-mid-scale freehold CCR with premium address positioning. It transacts at a 9% PSF premium. Fourth Avenue Residences (S$2,465 PSF, 99yr/2018, 476 units) is a 99-year leasehold product at a small premium to St Martin Residence — a pairing that warrants particular attention for any buyer weighing freehold versus leasehold at similar PSF levels. A 99-year lease from 2018 and a freehold title should not trade at nearly equivalent PSF when both are in the same D10 corridor. D’Leedon (S$1,855 PSF, 99yr/2010, 1,703 units) represents the high-volume 99-year segment — entry price accessible, but 14 years into lease decay and at a location with weaker MRT proximity than St Martin Residence.
- Skye at Holland: S$2,945 PSF — 99yr/2024, 666 units, Holland Village TEL.
- Leedon Green: S$2,784 PSF — FH, 638 units, Farrer Road CCL ~0.8 km.
- Hyll on Holland: S$2,648 PSF — FH, 319 units, Holland Village area.
- Fourth Avenue Residences: S$2,465 PSF — 99yr/2018, 476 units, Sixth Avenue DTL.
- St Martin Residence: S$2,421 PSF — FH/2001, 82 units, Napier TEL 0.16 km, profitability 91/100.
- D’Leedon: S$1,855 PSF — 99yr/2010, 1,703 units, Farrer Road CCL.
| Development | Tenure | TOP | Units | ~Avg PSF |
|---|---|---|---|---|
| ST MARTIN RESIDENCE | Freehold | 2001 | 82 | $2,401 |
| SKYE AT HOLLAND | 99 yrs lease commencing from 2024 | 2025 | 666 | $2,946 |
| LEEDON GREEN | Freehold | 2021 | 638 | $2,785 |
| D'LEEDON | 99 yrs lease commencing from 2010 | 2014 | 1,703 | $1,858 |
| HYLL ON HOLLAND | Freehold | 2021 | 319 | $2,648 |
| FOURTH AVENUE RESIDENCES | 99 yrs lease commencing from 2018 | 2021 | 476 | $2,465 |
ShiokNest Scores
Our proprietary scoring system evaluates ST MARTIN RESIDENCE across multiple dimensions.
What Residents Say
St Martin Residence’s resident and tenant community reflects the characteristics of its address with consistency. The development attracts a mix of long-stay owner-occupiers from Singapore’s professional and business community and diplomatic or senior corporate tenants drawn by the Tanglin embassy belt location, the school catchment, and — since 2021 — the Napier TEL access that made an already excellent address functionally excellent as well.
“We’ve been here since 2019. The neighbourhood is genuinely quiet — St. Martin’s Drive has almost no through traffic. When Napier MRT opened two years in, it felt like winning a lottery we didn’t know we had entered. Two minutes to the station and we’re in the CBD in 12 minutes on TEL. I genuinely don’t know why the PSF here is lower than Leedon Green.”
— Owner-occupier resident, via property forum
“My tenants are a diplomatic family — posted here for three years, renewed once already. They specifically wanted within walking distance of Chatsworth International and a proper expat-belt address. St. Martin’s Drive was their shortlist of one. S$6,400 for the unit and they’ve never queried the rent once.”
— Investor-landlord, via online community
The 180 rental transactions confirm a tenant pipeline that operates at consistent depth. The Tanglin-Orchard corridor is one of the most stable expat residential demand zones in Singapore, supported by the embassy cluster, the international school concentration, and the CCR commercial employment base. Tenants in this segment typically operate on two- to four-year lease cycles aligned with corporate or diplomatic posting durations, which reduces turnover friction relative to shorter-tenancy investor-grade product.
Owner-occupiers value the low-density environment. At 82 units, the development operates with a level of residential quiet that larger CCR projects with 300–600 units cannot replicate. Communal areas are not congested, lift waits are short, and the MCST operates as a genuinely functional community rather than an anonymous administrative body. For families and longer-stay residents, this scale is not a compromise — it is a preference.
Strengths & Weaknesses
- Profitability score 91/100 — one of the highest in the dataset for a D10 CCR freehold asset, signalling exceptional return fundamentals
- Napier TEL at 160m — among the shortest MRT-to-lobby distances of any freehold CCR condominium in Singapore; a permanent locational upgrade added post-completion
- Freehold tenure in District 10 — no lease decay, no CPF usage restrictions over time, and asymmetric collective sale optionality at a prestige Tanglin address
- PSF below freehold peers — S$2,421 PSF versus Leedon Green (S$2,784), Hyll on Holland (S$2,648), and Skye at Holland (S$2,945); structural discount to the D10 freehold field
- Methodist Girls' School (Secondary) 360m — within 1 km priority registration phase; a major family tenant draw in the Tanglin diplomatic corridor
- Chatsworth International School 230m — closest premier international school in the CCR; anchors demand from embassy and senior corporate expatriate tenants
- 180 rental transactions — active, demonstrable rental market from Tanglin expat and diplomatic community with stable two-to-four-year lease cycles
- Embassy belt address — St. Martin's Drive is one of Singapore's most prestigious residential streets; low-traffic, quiet, and surrounded by GCBs and embassy compounds
- Three MRT stations within 0.90 km — Napier TEL (0.16 km), Orchard Boulevard TEL (0.87 km), Orchard MRL/TEL (0.90 km); exceptional line coverage for a CCR address
- Boutique 82-unit scale — low-density living, responsive MCST, short lift waits, and a genuine residential community environment absent from 400-600 unit CCR projects
- Gross yield 2.05% — a luxury-segment holding-cost contribution, not an income strategy; buyers seeking 3%+ yield must look outside the Tanglin-Orchard CCR corridor
- Median quantum S$3,750,000 — compresses the buyer pool to a narrow CCR segment; exit liquidity is structurally more limited than sub-S$2M entry assets
- Only 15 recent sales transactions — PSF confidence interval is wide; independent valuation is strongly recommended before committing at this quantum
- 2001 build age — kitchens, bathrooms, and finishings require renovation investment for premium diplomatic tenants; add to total acquisition cost modelling
- Modest facilities for the price tier — pool and gym only; no resort amenities or contemporary lifestyle stack comparable to Leedon Green or Hyll on Holland
- PSF volatility in trend data (S$2,287 → S$1,827 → S$2,413) — 19% drawdown visible in the historical series; CCR freehold is not immune to market cycles
- Low unit count limits collective sale critical mass — at 82 units, achieving the 80% owner consent threshold for en-bloc is numerically achievable but operationally difficult
- Developer Premier Properties Pte Ltd is not a household brand — no developer premium on resale for buyers who weight brand provenance in their shortlisting
- High absolute quantum requires large cash or CPF outlay — financing a S$3.75M median unit demands significant liquid assets even at 75% LTV
- Tanglin area daytime street-level quietness — the same residential enclave character that premium tenants value can feel isolated to buyers accustomed to Orchard-adjacent activity
Verdict
St Martin Residence is a 91/100 profitability score asset sitting at a discount to its freehold D10 peers. That combination is not common in the CCR resale market, and it is the central reason this development warrants serious attention from buyers positioned for the Tanglin-Orchard corridor. Leedon Green, Hyll on Holland, and Skye at Holland all transact above S$2,600 PSF. St Martin Residence transacts at S$2,421 PSF — a gap of S$200 to S$500 PSF on an address that concedes nothing material on location quality to any of those alternatives.
Napier TEL at 160 metres is a structural locational upgrade that postdates the development and is now permanently embedded in the asset. This is not a future aspiration or a developer claim — it is an operating MRT station 160 metres from the lobby. For a freehold development completed in 2001, the transit proximity gap between St Martin Residence and virtually all of its CCR peers is a genuine and durable differentiator that the PSF does not yet fully reflect.
The Methodist Girls’ School catchment at 360 metres is a family-rental anchor that generates consistent, high-quality tenant demand from the diplomatic and international corporate community. Chatsworth International at 230 metres extends this pull to the broader expatriate population. The combination of Napier TEL and MGS in the same 400-metre radius is rare for any CCR address — and for this asset it is the structural foundation of the 180 rental transactions and S$6,400 median rent.
The honest caveats are real: 2.05% gross yield is a holding-cost contribution, not an income strategy. The 2001 build requires renovation investment for premium tenants. The median quantum of S$3,750,000 compresses the buyer pool to a limited CCR segment. And 15 sales transactions over the measurement period, while adequate for directional pricing, means PSF confidence intervals are wider than a higher-volume development would offer. Buyers entering at this quantum should commission an independent valuation, inspect unit condition carefully, and model renovation costs into total acquisition.
For the buyer profile this asset is actually targeting — CCR freehold accumulation at a discount to the current new-launch and newer-resale cohort, with Napier TEL access and MGS school priority baked in — St Martin Residence is one of the most coherent cases in D10 at current pricing.