Terrasse
Overview & Key Facts
Terrasse is a 414-unit condominium on Terrasse Lane in District 19, developed by MCL Land (Serangoon) Pte Ltd and completed in 2015. The name references the development’s defining architectural feature — a terraced, stepped design that gives the blocks a layered silhouette and creates cascading sky terraces across the façade. MCL Land is well-regarded in Singapore’s mid-market segment, with a track record that includes developments like J’den, Leedon Green, and Margaret Ville.
Sitting on a 99-year lease from 2010, Terrasse occupies a quiet residential pocket within the broader Serangoon planning area. At 414 units, it falls into the mid-sized category — large enough to support a decent spread of facilities, but small enough that the MCST remains manageable and maintenance decisions don’t require the political complexity of a mega-development. The resident profile skews heavily toward Singaporean families, drawn primarily by the extraordinary proximity to Rosyth School and the mature neighbourhood amenities that surround the estate.
At a median transacted price of S$1,330,000 and an average PSF of S$1,553, Terrasse represents solid value in District 19 — particularly when compared to newer competitors like Chuan Park at S$2,596 psf or Florence Residences at S$1,743 psf. The development has delivered a strong profitability score of 74, reflecting consistent capital appreciation since TOP. For buyers seeking a sensibly priced, family-oriented condo in a mature estate, Terrasse deserves serious consideration.
Location & Connectivity
Terrasse sits in the Serangoon planning area, nestled among low-rise residential streets and within comfortable reach of the amenities that make D19 one of Singapore’s most liveable heartland districts. The immediate surroundings are quiet and residential, with the Serangoon Garden neighbourhood — famous for its hawker centre, bakeries, and wet market — a short drive away. NEX shopping mall at Serangoon interchange is the nearest major retail hub, offering FairPrice Xtra, Serangoon Public Library, cinemas, and a comprehensive food court.
The elephant in the room is MRT access. Kovan MRT on the North-East Line is the closest station at approximately 1.29 km — and in Singapore’s climate, that is not a comfortable daily walk. Residents who commute by public transport will realistically need a bus connection or a short drive to the station. For car owners, the picture improves significantly: the CTE is easily accessible, placing the CBD within a 20-minute drive during off-peak hours. Upper Serangoon Road provides a direct arterial route to multiple expressway on-ramps.
The neighbourhood’s strongest draw is its schools cluster. The broader Serangoon-Hougang area is one of Singapore’s most school-dense corridors, and Terrasse benefits from a particularly privileged position within it. Everyday conveniences — coffee shops, clinics, minimarts — are scattered along the surrounding HDB estate streets, and the Kovan heartland strip with its popular eateries is accessible within a short drive.
Schools & Education
5 primary schools within the 1 km Priority Phase balloting radius.
| School | Type | Distance |
|---|---|---|
| Rosyth School | primary | Within 1 km |
| Yangzheng Primary School | primary | Within 1 km |
| Xinghua Primary School | primary | Within 1 km |
| Townsville Primary School | primary | Within 1 km |
| Xinmin Secondary School | secondary | Within 1 km |
| Xinmin Primary School | primary | Within 1 km |
| Presbyterian High School | secondary | Within 1 km |
| Serangoon Secondary School | secondary | ~1.1 km |
Facilities
At 414 units, Terrasse delivers a respectable but not extravagant facilities suite. The development features a 50m lap pool, a smaller leisure pool, a wading pool for children, a gymnasium, tennis court, BBQ pavilions, a function room, a clubhouse, a children’s playground, and landscaped gardens with jogging paths. The terraced architecture creates sky terraces on several levels, which function as semi-private communal spaces for residents on those floors — a pleasant design touch that adds outdoor living area beyond the standard ground-level amenities.
“The sky terraces are what sold us on Terrasse. Not every unit gets one, but the ones that do have this wonderful extended outdoor space that feels private but isn’t technically part of your unit. Great for morning coffee.”
— Resident review via PropertyGuru
The facilities are well-maintained and adequate for the development’s size, but they won’t win awards for breadth or ambition. There is no indoor gym equivalent of a badminton court, no onsen spa, no co-working spaces — amenities that some newer or larger developments in the area offer. What Terrasse does provide, it maintains to a reasonable standard, and the mid-sized unit count means facilities are rarely overcrowded. The MCST has been stable, and maintenance fees remain competitive for the district.
Unit Sizes & Layout
Terrasse offers a mix of 1-bedroom to 4-bedroom units and penthouses, with sizes that reflect the slightly more generous proportions of its 2015-era design compared to the increasingly compact layouts of post-2020 launches. The terraced block design means many units benefit from additional planter boxes or access to sky terraces, adding usable outdoor space that goes beyond the standard balcony. Unit layouts are generally efficient, with regular shapes that minimise wasted corridor space — a hallmark of MCL Land’s practical design approach.
Interior finishings are mid-market and reflect MCL Land’s positioning: functional and clean, but not luxury-grade. Buyers purchasing resale units today should expect that original fittings are now 10+ years old, and most owners will have already renovated kitchens and bathrooms. This is standard for a 2015-TOP development and should be factored into the total acquisition cost.
| Bedrooms | Transactions | Avg PSF | Avg Price |
|---|---|---|---|
| 1 BR | 14 | $1,367 | $763,841 |
| 2 BR | 38 | $1,330 | $1,077,502 |
| 3 BR | 39 | $1,386 | $1,497,863 |
| 4 BR | 19 | $1,357 | $2,177,784 |
| 5 BR | 10 | $1,006 | $2,448,280 |
Pricing & Market Position
Based on 120 recorded transactions, sale prices range from $645,000 to $2,880,000, averaging $1,465,968 (~$1,536 psf).
Rents range from $1,800 to $9,660 per month across 356 rental transactions. Current rental yield sits at approximately 3.0%.
Price Appreciation
From 2021 to 2026, the average PSF has appreciated by 34.6% (from $1,147 to $1,544 psf).
Neighbourhood Comparison
The competitive landscape in D19 has shifted significantly with recent new launches. Chuan Park at S$2,596 psf represents the premium end — a fresh 99-year lease with MRT adjacency, but at nearly 70% more per square foot than Terrasse. Florence Residences at S$1,743 psf and Affinity at Serangoon at S$1,697 psf offer newer builds with marginally better facilities, but neither matches Terrasse’s school proximity advantage or its proven resale track record.
For buyers weighing these options, the decision framework is straightforward. If MRT walkability and a fresh lease are paramount, pay the premium for Chuan Park or Florence Residences. If you prioritise value, proven capital appreciation, school access, and a mature neighbourhood over newness and transit convenience, Terrasse offers a compelling package at a meaningful discount. The 83 years remaining on the lease provides comfortable runway for most ownership horizons, and the S$1,553 psf entry point leaves room for continued appreciation as the broader Serangoon corridor benefits from ongoing urban renewal.
| Development | Tenure | TOP | Units | ~Avg PSF |
|---|---|---|---|---|
| TERRASSE | 99 yrs lease commencing from 2010 | 2015 | 414 | $1,536 |
| CHUAN PARK | 99 yrs lease commencing from 2024 | 2024 | 916 | $2,596 |
| THE FLORENCE RESIDENCES | 99 yrs lease commencing from 2018 | 2021 | 1,410 | $1,746 |
| RIVERFRONT RESIDENCES | 99 yrs lease commencing from 2018 | 2021 | 1,451 | $1,589 |
| AFFINITY AT SERANGOON | 99 yrs lease commencing from 2018 | 2021 | 1,012 | $1,699 |
| SERANGOON GARDEN ESTATE | Freehold | 2021 | — | $1,735 |
Lease Decay Analysis
The 99-year lease runs from 2010, meaning approximately 16 years have already been consumed. Roughly 83 years remain — still comfortably within the range where most banks will offer full financing without restrictions.
| Year | Lease remaining | Implication |
|---|---|---|
| 2026 (now) | ~83 years | Full bank financing available |
| 2040 | ~69 years | CPF usage still unrestricted for most buyers |
| 2049 | ~59 years | Approaching 60-year threshold — CPF limits begin for some |
| 2069 | ~39 years | Significant financing restrictions for next buyer |
| 2109 | Expiry | Lease reverts to state |
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 ~73 years remaining, which is still very bankable. The risk profile changes for longer holds.
ShiokNest Scores
Our proprietary scoring system evaluates TERRASSE across multiple dimensions.
What Residents Say
“We moved here mainly for Rosyth School. The walk is literally five minutes with a six-year-old. The condo itself is quiet, well-maintained, and the neighbours are mostly families like us. Not the fanciest facilities, but everything works and it never feels crowded.”
— Resident review via PropertyGuru
“Good value for the area. We looked at Florence Residences and Affinity but the price gap was significant for not much more. Terrasse is older, yes, but the layout is bigger and the location is mature — you don’t have to wait for shops and amenities to appear.”
— Resident review via EdgeProp
“Main downside is MRT access. Kovan station is technically walkable but not pleasant in the heat. You really need a car or at least be comfortable with buses. Other than that, no major complaints after four years here.”
— Resident review via EdgeProp
The consistent themes across resident feedback are predictable: families praise the school proximity and quiet environment, value-conscious buyers appreciate the pricing relative to newer alternatives, and everyone acknowledges the MRT gap as the primary trade-off. Management and maintenance receive generally positive marks, with the mid-sized community cited as a factor in responsive MCST governance. Noise complaints are rare, and the stepped architectural design receives compliments for creating a more visually interesting environment than a typical slab-block condo.
Strengths & Weaknesses
- Rosyth School just 190m away — exceptional P1 registration advantage
- Strong profitability score (74) with consistent capital appreciation
- Excellent value at $1,553 psf vs newer competitors at $1,700+
- Reputable MCL Land developer — quality mid-market construction
- Three primary schools within 500m — unmatched school cluster access
- Mid-sized 414 units — manageable MCST, rarely overcrowded facilities
- Mature Serangoon neighbourhood — established amenities, food, shops
- Distinctive terraced architecture with sky terraces on select units
- Decent rental yield at 3.07% with strong tenant demand from families
- Proven resale market — 352 rental transactions show active demand
- Kovan MRT 1.29 km — not walkable in comfort, bus or car needed
- 99-year lease from 2010 (83 years remaining) — lease decay a factor for long holds
- Facilities adequate but not outstanding — no premium amenities
- Interior finishings are mid-market, most resale units need renovation
- No direct park connector access — less green connectivity than some competitors
- Limited retail within immediate walking radius — car dependency for errands
- Lower walkability score (51) reflects suburban positioning
- Sky terraces only on select units — not a universal benefit
Verdict
Terrasse is not a flashy development and it does not try to be. Its appeal is grounded in practical fundamentals: a reputable developer, a mature neighbourhood, exceptional school proximity, sensible unit layouts, and pricing that leaves meaningful headroom below the newer competition. At S$1,553 psf average, you are paying roughly 40% less than Chuan Park and 10-12% less than Florence Residences or Affinity at Serangoon — developments that are newer but don’t necessarily offer proportionally more.
The profitability score of 74 tells an important story: owners who bought at or near launch have done well. The PSF trend from S$1,235 to S$1,508 over five years represents solid, steady appreciation without the volatility that sometimes accompanies newer launches. This is the kind of consistent performance that makes a development attractive to both owner-occupiers and prudent investors. A gross rental yield of 3.07% at S$3,638 average monthly rent is decent — not spectacular, but competitive for the OCR.
The honest weaknesses are the MRT distance and the lease position. With 83 years remaining on a 99-year lease, Terrasse is not yet in uncomfortable territory for bank financing or CPF usage, but buyers planning a 15-20 year hold should model their exit carefully. The 1.29 km walk to Kovan MRT is a genuine daily inconvenience for non-drivers, and no amount of positive framing changes that reality. If MRT access is non-negotiable, look elsewhere. If you own a car, value school proximity, and want a well-run mid-sized condo in a mature estate at a fair price — Terrasse belongs on your shortlist.