Suites 123
Overview & Key Facts
Suites 123 occupies a slender freehold plot at 123 Rangoon Road in District 8 — a heritage address in a neighbourhood that has changed far more slowly than the city around it. Developed by Macly Assets Pte Ltd and completed in 2010, it is a compact boutique development of just 37 units rising across a single block, less than 400 metres from Farrer Park MRT on the North-East Line.
Macly Group is a Singapore boutique developer with a track record of small freehold projects — Bukit 828 and Fivenine (Jln Lima) are among their comparable offerings. Their proposition is consistent: city-fringe freehold land in established neighbourhoods, targeting owner-occupiers and investors who value tenure certainty over resort-scale facilities. Suites 123 fits that template precisely.
With 37 units on a compact site, Suites 123 occupies a niche that larger developments cannot: it is small enough to feel like a private residential block, yet fully equipped with a pool, gym, and Jacuzzi. The rental market has embraced it enthusiastically — 92 rental transactions from 37 units represent a turnover rate of roughly 2.5 tenancies per unit, confirming this is a development where landlords, not long-term owner-occupiers, dominate the register.
Location & Connectivity
The address tells much of the story. Rangoon Road is one of Singapore’s quieter heritage corridors — a tree-lined two-lane street connecting the southern edge of Little India to the Farrer Park residential belt. The road carries a mix of pre-war shophouses, Hindu temples, older walk-up apartments, and newer boutique condominiums like Suites 123. It has the unhurried pace of a neighbourhood that resisted the homogenisation that swept many District 8 streets in the 1990s.
The MRT access is the headline figure. Farrer Park MRT (NE8) is 310 metres away — a 4-minute walk on flat ground. For commuters, this is a material convenience: Dhoby Ghaut interchange is three stops south (9 minutes), Harbourfront is nine stops (21 minutes), and Orchard is reachable via interchange in under 20 minutes. The North-East Line also connects cleanly to Chinatown, HarbourFront, and Outram Park interchange. Secondary options include Boon Keng (1.0 km, NE9) and Little India (1.1 km, NE7/DT12 interchange), giving residents access to two separate lines within comfortable walking distance.
By car, Rangoon Road feeds into the CTE in under 10 minutes, putting the CBD within 15 minutes in off-peak conditions and Orchard within 12. The network of parallel roads — Serangoon Road, Race Course Road, and Lavender Street — offers multiple routing options when any single artery is congested.
Daily life conveniences cluster tightly around the Farrer Park MRT node. City Square Mall (a 7-minute walk, 190m from the station) houses a FairPrice Finest supermarket, food court, cinema, and over 200 retail and dining outlets. The surrounding Jalan Besar and Little India precincts add some of Singapore’s most diverse street food: banana leaf curry on Race Course Road, roti prata along Clive Street, and the Tekka Centre wet market for fresh produce. Rangoon Road itself has a cluster of Indian and Peranakan coffee shops that longtime residents describe as “the real neighbourhood.”
One honest note for potential buyers: Rangoon Road generates moderate traffic noise during peak hours, particularly from Serangoon Road-bound vehicles. Units on higher floors and on the rear stack face this less acutely. The immediate street environment is also urbanised — this is not a leafy low-density setting, but a genuine inner-city residential address.
Schools & Education
2 primary schools within the 1 km Priority Phase balloting radius.
| School | Type | Distance |
|---|---|---|
| Farrer Park Primary School | primary | Within 1 km |
| CHIJ Our Lady Queen of Peace | primary | Within 1 km |
| LASALLE College of the Arts | tertiary | Within 1 km |
| St. Margaret's Secondary School | secondary | ~1.0 km |
| St. Margaret's Primary School | primary | ~1.1 km |
| St. Andrew's Secondary School | secondary | ~1.1 km |
| St. Andrew's Junior College | jc | ~1.1 km |
| St. Andrew's Junior School | primary | ~1.2 km |
Facilities
Expectations should be calibrated to the development’s scale. Suites 123 is a 37-unit boutique condo on a compact freehold footprint — the land area simply cannot support the 50-point facility lists of Novena or Bishan mega-developments. What the development does offer is a considered set of core amenities: a swimming pool, Jacuzzi, gym, and BBQ area. The rooftop pool is frequently noted by residents as a highlight — one review describes it as offering views “resembling the pool at Marina Bay Sands,” an enthusiastic comparison that reflects the appeal of a top-floor water feature in a city-fringe location.
For a boutique development of this size, the absence of tennis courts, function rooms, and clubhouse facilities is standard rather than disappointing. The comparison set — other sub-50-unit RCR boutique condos — typically offers the same core package. Where Suites 123 compensates is in the City Square Mall food court, gym, and cinema sitting 7 minutes away, and the dense F&B ecosystem of Little India providing what an in-compound cafe never could.
One recurring resident comment mentions that East- and West-facing units can become uncomfortably warm during afternoon hours, a function of the building’s orientation and the limited greenery buffer on Rangoon Road. Buyers evaluating specific units should account for solar exposure and check whether the unit has been fitted with UV-blocking window film or upgraded air-conditioning.
Unit Sizes & Layout
Suites 123 is a compact development, and its unit types reflect that. The development is understood to consist primarily of 1-bedroom and 2-bedroom configurations, with typical sizes in the range of 450–700 sqft for 1-bedrooms and 700–900 sqft for 2-bedrooms — consistent with Macly’s other city-fringe boutique developments. The high rental transaction volume (92 transactions from 37 units) strongly suggests the majority of units are 1-bedroom or studio-sized, given the tenant profile typically attracted to Rangoon Road: working singles, young couples, and expats seeking a short commute to the CBD or Orchard.
The current average PSF of approximately S$1,605 over the past 12 months represents a meaningful discount to the competing RCR new launches in the sub-market. Piccadilly Grand nearby transacts at S$2,164 psf on a 99-year lease, while City Square Residences — also freehold — trades at S$1,892 psf. For buyers who prioritise absolute quantum, the median transacted price of S$933,000 represents one of the rare sub-S$1M freehold entry points in the RCR, a threshold that has become increasingly scarce as the market has moved upward through 2023–2026.
The PSF trend over the past two years shows a sharp appreciation from S$1,258 to S$1,659 psf (approximately 32%), followed by a modest correction to S$1,605 psf in the most recent 12 months. The jump likely reflects the broader RCR market re-rating and renewed investor interest in sub-S$1M freehold assets post-2022 cooling measures. The slight dip may simply reflect the very small transaction sample (3 sales in 12 months) rather than a genuine market deterioration. Low transaction volumes at boutique condos make PSF readings statistically volatile.
| Bedrooms | Transactions | Avg PSF | Avg Price |
|---|---|---|---|
| 0 BR | 1 | $1,659 | $750,000 |
| 1 BR | 1 | $1,605 | $933,000 |
| 2 BR | 1 | $1,258 | $1,070,000 |
Pricing & Market Position
Based on 3 recorded transactions, sale prices range from $750,000 to $1,070,000, averaging $917,667 (~$1,605 psf).
Rents range from $1,850 to $4,400 per month across 92 rental transactions. Current rental yield sits at approximately 3.9%.
Price Appreciation
From 2023 to 2025, the average PSF has appreciated by 27.6% (from $1,258 to $1,605 psf).
Neighbourhood Comparison
The District 8 RCR sub-market around Farrer Park offers a revealing set of comparisons. Piccadilly Grand (S$2,164 psf, 99-year/2021) is the area’s headline new launch — a joint-venture Hoi Hup/Sunway project with an integrated commercial podium, larger unit mix, and modern resort facilities. It commands a 35% PSF premium over Suites 123 but carries a 99-year lease starting 2021. City Square Residences (S$1,892 psf, freehold) is the closest comparable on tenure — also freehold RCR, though it trades at an 18% PSF premium, likely reflecting its newer vintage (2008), larger unit count, and closer adjacency to City Square Mall.
Citylights (S$1,760 psf, 99-year/2004) offers a leasehold comparison: a large-scale development by CDL at Kallang Road with extensive facilities, but a lease now 22 years consumed, leaving approximately 77 years — enough for bank financing, but increasingly subject to the discount that the market applies to sub-80-year leasehold assets. Sturdee Residences (S$1,999 psf, 99-year/2015) is a newer boutique leasehold option with a more curated finish.
Suites 123’s positioning is clear: it is the most affordable freehold option in the immediate sub-market by PSF, and the only sub-S$1M freehold unit available. Buyers choosing between Suites 123 and City Square Residences are essentially paying an 18% PSF premium for a newer building with a larger facility pool. Buyers choosing between Suites 123 and Piccadilly Grand are paying a 35% premium for a new lease and a lifestyle-grade development. Both are defensible trade-offs — they simply reflect different buyer priorities.
| Development | Tenure | TOP | Units | ~Avg PSF |
|---|---|---|---|---|
| SUITES 123 | Freehold | 2010 | 37 | $1,605 |
| PICCADILLY GRAND | 99 yrs lease commencing from 2021 | 2022 | 407 | $2,164 |
| CITYLIGHTS | 99 yrs lease commencing from 2004 | 2007 | 600 | $1,760 |
| CITY SQUARE RESIDENCES | Freehold | 2009 | 910 | $1,892 |
| STURDEE RESIDENCES | 99 yrs lease commencing from 2015 | — | 305 | $1,999 |
| KERRISDALE | 99 yrs lease commencing from 1998 | 2006 | 481 | $1,395 |
ShiokNest Scores
Our proprietary scoring system evaluates SUITES 123 across multiple dimensions.
What Residents Say
“4 mins walk to Farrer Park MRT, beautiful scenery views from the top floor. Rare lap pool on the top, resembling the pool at Marina Bay Sands behind looks like Australia feel.”
— Resident review via 99.co
“The facilities and public areas are well maintained. Close to City Square Mall and Farrer Park MRT. Lots of food options nearby — Little India, Jalan Besar, Race Course Road.”
— Resident review via PropertyGuru
“East-West facing units become extremely hot when the sun shines. Would recommend checking the unit orientation before committing.”
— Resident review via 99.co
The pattern across platforms is consistent: residents value the MRT proximity and the neighbourhood’s F&B density above all else, and note the rooftop pool as a distinctive amenity for a 37-unit block. The main recurring concern is solar heat gain on east- and west-facing units — a function of building orientation and the urban canyon effect on Rangoon Road. For buyers, this is easily verified during a daytime viewing; for tenants, it has rarely appeared to deter demand given the rental volume.
Strengths & Weaknesses
- Freehold tenure — no lease decay, permanent land interest
- Farrer Park MRT 310m away — 4-minute walk, no car needed for daily commute
- Sub-S$1M freehold RCR entry — one of the most affordable in the district
- Gross yield ~3.86% — above RCR average for same vintage
- Exceptionally active rental market: 92 transactions from 37 units
- City Square Mall 7–8 minutes on foot (FairPrice Finest, cinema, F&B)
- Dense F&B ecosystem — Little India, Race Course Road, Jalan Besar within walking distance
- Rooftop pool with elevated views — distinctive for a 37-unit boutique development
- Farrer Park Primary School 370m away — strong for P1 balloting
- Multiple transport options: NE line + 2 additional MRT stations within 1.1 km
- Only 3 resale transactions in 12 months — low liquidity, wide bid-ask spreads possible
- Boutique facilities only: pool, gym, Jacuzzi — no tennis, function rooms, or kids' play areas
- East/West-facing units report significant heat gain — check orientation before committing
- Rangoon Road traffic noise on lower floors during peak hours
- Small unit sizes — likely 450–700 sqft range, not suited for families needing space
- No in-compound retail or F&B — entirely reliant on neighbourhood amenities
- Developer Macly is boutique — limited after-sale support vs CDL or CapitaLand scale
- Low transaction volume makes PSF trend statistically volatile
Verdict
Suites 123 is a development whose appeal is almost entirely a function of what you are optimising for. If your priorities are freehold tenure, proximity to an MRT station (under 400m), a sub-S$1M entry price in the RCR, and a central location with excellent transport connectivity, it delivers all four simultaneously — a combination that is quantifiably difficult to replicate in the current market.
For owner-occupiers, the calculus is straightforward if you value location over facilities. You are buying a compact, well-located flat in a building with a pool and gym, not a resort lifestyle. The neighbourhood — Farrer Park, Rangoon Road, Little India fringe — is authentic, diverse, and increasingly sought-after by younger professionals who find Bishan and Ang Mo Kio too suburban and Tanjong Pagar too expensive. City Square Mall, multiple bus routes, and the dense MRT network mean car ownership is optional rather than necessary.
For investors, the rental track record speaks clearly. 92 rental transactions from 37 units represents one of the higher rental turnover rates in the sub-market — a signal of consistent tenant demand and a landlord-friendly profile. The average rent of S$2,992/month against a median purchase price of S$933,000 delivers a gross yield of approximately 3.86% — above the 3.0–3.5% typical for RCR condos in the same vintage range. Freehold tenure removes the lease decay concern that increasingly affects 99-year RCR assets from the same era.
The honest limits: this is not a lifestyle development. Buyers seeking a resort atmosphere, extensive club facilities, or generous landscaping should look to Piccadilly Grand, Citylights, or Sturdee Residences — all within the same submarket. Suites 123 will also always trade at a PSF discount to its newer 99-year-leasehold neighbours on raw market momentum, because small boutique developments attract limited developer marketing or agent push. The flip side of that discount is the freehold title and the MRT proximity, which act as a floor under the asset’s long-term value.
For the buyer who wants a city-fringe freehold address within walking distance of an MRT, at a price point that has nearly disappeared from the Singapore market, Suites 123 remains a quietly defensible choice.