The Asteria
Overview & Key Facts
The Asteria is a 23-unit freehold boutique on Martia Road in District 15 — completed in 2008 by Daimler Properties and positioned in one of the most rapidly transformed micro-pockets of the East Coast – Marine Parade corridor. The development sits 270 metres from Marine Terrace MRT (Thomson-East Coast Line), a proximity that ranks among the most compelling MRT-to-doorstep distances achievable at this scale and tenure in D15.
The property data tells a story of genuine rental demand for a small freehold block. Fifty-two rental transactions across 23 units — a turnover ratio above 2x — indicates persistent leasing activity with an average of S$4,016 per month and a median of S$4,100. That median is the more reliable underwriting anchor and signals that D15 East Coast rental demand is flowing into boutique freehold stock with the same conviction it drives leasehold new launches. The competitive landscape is defined by scale and tenure contrast: Grand Dunman (S$2,537 psf, 99yr, 1,008 units), Emerald of Katong (S$2,640 psf, 99yr, 846 units), The Continuum (S$2,790 psf, FH, 816 units), and Tembusu Grand (S$2,462 psf, 99yr, 638 units) all represent the large-format leasehold cohort. The Asteria occupies a different axis: micro-scale, freehold, established neighbourhood, and a TEL station at near-doorstep distance.
The development also carries a notable piece of recent history: in 2021, the entire 23-unit block was sold en bloc for S$27.1 million — translating to approximately S$1,109 psf on strata area. That collective sale at S$1,109 psf against a backdrop where leasehold peers trade above S$2,400 psf illustrates both the freehold boutique discount at time of transaction and the structural appreciation runway that remains for comparable D15 freehold stock today.
Location & Connectivity
Martia Road is a short residential street running off Marine Parade Road in the heart of the East Coast – Marine Parade neighbourhood — a corridor defined by mature, low-rise residential character, the East Coast Park green spine to the south, and the Marine Parade commercial belt to the north. It is the kind of address that rewards on-foot exploration: Katong heritage shophouses, East Coast Road’s cafe-and-restaurant strip, and the Marine Parade wet market and hawker centre are all reachable without crossing a major arterial. East Coast Park — Singapore’s most-used linear park and cycling network — is approximately 900 metres south.
Rail connectivity at The Asteria is exceptional for the price point and boutique scale. Marine Terrace MRT (TEL, TE26) is 270 metres from the development — a walk of roughly three minutes in ordinary conditions. The Thomson-East Coast Line transformed D15 commuting from 2024 onwards: direct services run to the CBD (Shenton Way, Marina Bay), Orchard Road, and the North-South corridor without a transfer. Marine Parade MRT (TEL, TE27) at 770 metres provides a second TEL stop for southbound journeys. For cross-island connections, Paya Lebar EW/CC is accessible via short bus ride.
The school catchment is strong without reaching the hyper-dense cluster of streets further north toward Haig Road. Telok Kurau Primary School is 670 metres away. CHIJ (Katong) Primary sits at 1.14 km, Tanjong Katong Girls’ School at 1.16 km, and Canadian International School (Tanjong Katong Campus) at 1.13 km. Families who prioritise school proximity will find The Asteria’s catchment meaningful, particularly for Telok Kurau Primary Phase 2A/2C balloting — but the school-radius density does not match the extreme concentration available on Haig Road. The development’s primary value proposition is MRT proximity and freehold tenure in an established coastal neighbourhood, not school-run optimisation.
Retail and lifestyle amenity is layered and within reach: Parkway Parade (supermarket, cinema, F&B) is approximately 750 metres away. Marine Parade Food Centre and the Katong heritage belt along East Coast Road are all within 1 km. East Coast Park — cycling, jogging, and the sea breeze — is under a kilometre south via the Park Connector network.
Schools & Education
1 primary school within the 1 km Priority Phase balloting radius.
| School | Type | Distance |
|---|---|---|
| Telok Kurau Primary School | primary | Within 1 km |
| Canadian International School (Tanjong Katong) | international | ~1.1 km |
| CHIJ (Katong) Primary | primary | ~1.1 km |
| Tanjong Katong Girls' School | secondary | ~1.2 km |
| Broadrick Secondary School | secondary | ~1.2 km |
| EtonHouse International School (Broadrick) | international | ~1.2 km |
| Chung Cheng High School (Main) | secondary | ~1.4 km |
| Tao Nan School | primary | ~1.4 km |
Facilities
The Asteria is a 5-storey boutique block with 23 units — a scale at which full condo-grade facilities (resort pool, gymnasium, clubhouse, 24-hour security guardhouse) are economically impractical. Twenty-three households cannot generate sufficient MCST contributions to maintain and insure these amenities at the standard that modern Singapore buyers expect. Prospective buyers and tenants should underwrite the assumption of covered car parking, a basic access and intercom system, and maintained external landscaping — and no further amenity provision beyond that.
“Buying a 23-unit freehold on Martia Road at three minutes from the TEL is a location and tenure play, not a resort play. The pool is East Coast Park. The gym is the Park Connector. The restaurants are on East Coast Road. The building is where you sleep after a short MRT ride home from the CBD.”
— Common framing among D15 boutique freehold buyers via Stacked Homes discussion threads
The practical upside of a no-facilities development is lower monthly MCST contributions — typically S$150–300 per month for a 23-unit block versus S$400–700 at fully-amenitised condominiums. For tenants and owner-occupiers who treat the East Coast lifestyle corridor as their amenity layer — beach, park, hawker, cycle path — the MCST saving is real money rather than a notional discount. For families with young children who depend on an on-site pool and safe outdoor play space in Singapore’s tropical weather, the absence of facilities is a genuine gap that Grand Dunman or Emerald of Katong resolve at the cost of higher entry price and leasehold tenure.
Neighbourhood Comparison
The most informative comparisons for The Asteria sit at two levels: the leasehold new-launch cohort that defines D15 pricing headlines, and the boutique freehold peer group that operates in the same micro-market.
Against the leasehold giants: Grand Dunman (S$2,537 psf, 99yr/2022, 1,008 units), Emerald of Katong (S$2,640 psf, 99yr/2023, 846 units), Tembusu Grand (S$2,462 psf, 99yr/2022, 638 units), and The Continuum (S$2,790 psf, FH, 816 units) all represent the large-format condo experience with full resort facilities, substantial unit mix, and high transaction liquidity. They are the appropriate reference for buyers who need a pool, gym, and a managed residential environment at scale. The Asteria is not competing on these dimensions — it is competing on a freehold land-cost per square foot that reflects its 2008-vintage boutique structure, a TEL proximity that equals or beats many of these larger developments, and a neighbourhood quality score that the Martia Road address earns independently of any development premium.
Within the D15 boutique freehold cohort, nearby Martia Residence (a similarly scaled boutique on the same street name cluster) offers a useful comparison. Buyers considering The Asteria should also evaluate whether any units in the post-en-bloc reconstituted block represent a value gap versus Martia Residence or other Telok Kurau-area freehold boutiques. The key differentiator for The Asteria is the 270m Marine Terrace TEL proximity — no other boutique freehold block in this immediate D15 pocket can claim an equivalent station distance. That proximity is the premium that should anchor relative pricing comparisons.
The Asteria’s en-bloc history at S$1,109 psf (2021) is a useful price anchor for the freehold land value at the time of collective sale — before the Marine Terrace TEL opened, before the current leasehold new-launch cycle pushed D15 pricing above S$2,400 psf. For buyers assessing current asking prices, the 2021 en-bloc psf represents a floor that the structural tailwinds (TEL opening, D15 capital appreciation cycle) have almost certainly moved above. Independent valuation is essential given the thinness of post-en-bloc transaction data at this specific address.
The honest framing: The Asteria is for buyers who have done their TEL proximity research, are comfortable with boutique liquidity, and are specifically seeking freehold tenure in an East Coast neighbourhood with genuine rental demand. The leasehold new launches offer a fundamentally different product — resort-grade amenities, modern unit finishes, and high transaction liquidity — at approximately twice the entry PSF and with a lease clock that started in 2022. Neither product is wrong; they answer different questions about how a buyer wants to deploy capital in D15.
| Development | Tenure | TOP | Units | ~Avg PSF |
|---|---|---|---|---|
| THE ASTERIA | — | 23 | — | |
| GRAND DUNMAN | 99 yrs lease commencing from 2022 | 2023 | 1,008 | $2,537 |
| EMERALD OF KATONG | 99 yrs lease commencing from 2023 | 2024 | 846 | $2,640 |
| THE CONTINUUM | Freehold | 2023 | 816 | $2,790 |
| TEMBUSU GRAND | 99 yrs lease commencing from 2022 | 2023 | 638 | $2,462 |
| AMBER PARK | Freehold | 2021 | 592 | $2,540 |
ShiokNest Scores
Our proprietary scoring system evaluates THE ASTERIA across multiple dimensions.
What Residents Say
“Marine Terrace TEL changed everything for this street. I used to factor in 12–15 minutes just to get to Paya Lebar for the train. Now it’s three minutes to the platform and I’m at Shenton Way in 18 minutes. That connectivity is what you’re really paying for on Martia Road.”
— Owner-occupier perspective on Marine Parade TEL connectivity via Condo Singapore community forums
“We rented for two years. The East Coast lifestyle is real — we cycled to the park every weekend, walked to Parkway Parade for groceries, ate our way through East Coast Road on Friday evenings. No gym in the condo but the Park Connector is literally five minutes away and it’s better than any treadmill.”
— Tenant reflection on East Coast living quality via PropertyGuru rental listing discussion
“D15 freehold boutiques at three minutes from the TEL are genuinely mispriced relative to what the new launches are charging. The rental yield is real, the tenant demand is consistent, and you’re not paying S$2,500 psf for a 99-year clock that started ticking in 2022. I’d rather own the land forever and use East Coast Park as my resort.”
— Property investor view on East Coast freehold value via EdgeProp community insights
Across community discussion platforms, residents and tenants who choose the Martia Road corridor consistently cite three reinforcing themes: the Marine Terrace TEL upgrade as the single most impactful change to the address in a decade; the East Coast Park lifestyle corridor as a functional substitute for on-site resort amenities; and the freehold tenure as a rational hedge against the lease-decay premium increasingly embedded in D15 new-launch pricing. The boutique scale is understood as a deliberate trade-off rather than a deficiency.
Strengths & Weaknesses
- Marine Terrace MRT (TEL) at 270m — ~3-minute walk, direct CBD and Orchard connectivity without transfer
- Freehold tenure in a sub-market where comparable leasehold stock trades at S$2,400–2,800 psf
- Strong rental demand: 52 transactions across 23 units (2x+ turnover ratio), median S$4,100/month
- Estimated gross yield 3.3–3.5% — competitive for freehold D15 boutique stock
- East Coast Park within ~900m south — cycling, jogging, beach access via Park Connector
- Parkway Parade (supermarket, cinema, F&B) approximately 750m away
- Established 2008-vintage construction — typically larger unit sizes than post-2015 launches
- Quiet residential street character — no through-traffic or commercial intrusion
- Low MCST contributions — no pool, gym, or club facilities to fund across 23 households
- Telok Kurau Primary School at 670m — meaningful for P1 Phase 2A/2C balloting
- East Coast Road heritage F&B belt, Marine Parade hawker, and Katong neighbourhood all within 1km
- Marine Parade MRT (TEL) at 770m provides second TEL stop option
- No facilities — no swimming pool, gym, clubhouse, guard post, or formal recreational grounds
- En-bloc event already occurred (2021, S$27.1m / S$1,109 psf) — primary land-value upside crystallised; verify current title and development status before purchase
- En-bloc score 39/100 — below average; post-en-bloc blocks carry reduced speculative redevelopment premium
- Boutique liquidity: very infrequent resale turnover, limited price discovery data beyond the 2021 collective sale
- Renovation budget required: S$80,000–150,000+ to bring 2008-vintage interiors to contemporary rental standard
- 2008 vintage — dated finishes, original-era kitchen/bathroom specifications need refresh for top rental rates
- School catchment is solid but not exceptional — Haig Road and Haig Avenue offer denser school clusters for MOE primary balloting
- No developer warranty or defects-liability period — buy-as-seen condition; pre-purchase inspection essential
- Gross yield compresses to approximately 2.3–2.8% net after renovation amortisation, MCST, and vacancy allowance
- Single developer (Daimler Properties) boutique — limited documentation of facilities or defect history compared to major branded developers
Verdict
The Asteria’s investment thesis is anchored on two structural advantages that are genuinely hard to replicate in D15 at boutique scale: freehold tenure and Marine Terrace TEL at 270 metres. The Thomson-East Coast Line transformed this precise address from a pleasant but car-dependent East Coast pocket into a direct-rail-connected neighbourhood within easy commute of the CBD, Orchard Road, and the full North-South corridor — without transfers. Three minutes to the platform is a standard that the vast majority of Singapore condominiums, regardless of price point, cannot match.
The rental data validates the location thesis. Fifty-two transactions across 23 units, with a median of S$4,100 per month, demonstrates that tenants are consistently choosing this address. The turnover ratio above 2x is unusually high for boutique stock and signals genuine leasing velocity rather than a single-tenant or owner-occupier absorption. For investors who can tolerate boutique liquidity on the sale side, the rental income profile is robust.
The case against is transparent. No facilities: no pool, gym, clubhouse, or security station. The 2021 en-bloc history means buyers must conduct thorough due diligence on current title, development status, and whether the units on offer represent original or reconstituted stock. The en-bloc has already crystallised, removing the speculative land-value upside that underpins boutique freehold valuation in many D15 micro-blocks. Neighbourhood score is strong (8.0/10) but stops short of the elite rating reserved for the densest school-cluster addresses further north on Haig Road.
The ShiokNest composite score of 60/100 reflects the balanced reality: exceptional MRT access (9.5/10) and a solid neighbourhood (8.0/10) are the twin pillars that lift the aggregate substantially. Freehold lease (7.5/10 — reflecting the post-en-bloc uncertainty premium) and value (7.5/10 — solid for D15 freehold) support the case. Facilities score (6.0/10) reflects the boutique reality rather than a deficiency unique to this development. The overall profile suits a specific buyer who understands what they are purchasing.
The ideal buyer is a professional household or expat couple prioritising TEL commute efficiency to the CBD or Orchard, who values freehold tenure, is comfortable with the East Coast lifestyle corridor as their amenity layer, and requires rental income potential above 3%. For that buyer, The Asteria’s combination of a three-minute walk to a major TEL station, genuine space in a 2008-vintage unit, and East Coast Park proximity within one kilometre is a compelling package that the leasehold new-launch cohort at twice the entry PSF cannot fully replicate.