The Capri
Overview & Key Facts
The Capri occupies a quiet, leafy stretch of Stevens Road in District 10 — one of Singapore’s most coveted private residential addresses, tucked between the Tanglin Club, the Singapore Botanic Gardens UNESCO World Heritage Site, and the old money enclave of Nassim Hill. Completed in 1998 by Grand Koh Development Pte Ltd, this freehold development comprises just 18 units across a single low-rise block, making it one of the smallest and most exclusive private residential buildings in the prime core region.
With only 18 units, The Capri is not a condo in the conventional Singapore sense — it is closer to a private mansion block. There is no resort-style facility deck, no paid management team running a hundred amenity bookings per day, and no anonymous lobby with a hundred keys. Instead, residents get the rarest commodity in the CCR: genuine residential privacy, freehold land security, and an address that has aged gracefully in one of the island’s most enduring neighbourhoods. EdgeProp data shows a median transacted price of S$1.9 million for the handful of recorded sales, reflecting the scarcity of available units rather than any deficiency in desirability.
The buyer profile here is a world apart from mass-market condominiums. The Capri attracts ultra-high-net-worth owner-occupiers — often second or third property purchasers diversifying into freehold CCR land — as well as small-portfolio investors seeking sub-$2 million freehold exposure in District 10 with minimal competition on exit. The very low transaction volume (five recorded sales total) is itself a signal: owners here tend to hold, not trade.
Location & Connectivity
Stevens Road is one of those addresses that requires no qualification in Singapore property circles. The Capri sits less than 200 metres from Stevens MRT station (Thomson-East Coast Line, DT26/TE11), making it arguably the best-connected address in the entire Stevens-Grange Road corridor. The walk to the station is flat, sheltered in part, and takes under three minutes in any weather — a genuinely rare achievement for a boutique freehold development in the CCR.
The Thomson-East Coast Line transforms what was already a strong location into an exceptional one. From Stevens station, Orchard MRT is two stops away (approximately five minutes), while Shenton Way and the CBD are reachable direct on the TEL without transfer. Cross-platform connections at Stevens DTL interchange link directly to Bugis, Chinatown, and Buona Vista. For households that need CBD access daily, this is the kind of connectivity that previously required paying Orchard or Cairnhill prices.
For drivers, Stevens Road provides clean access to the PIE via Dunearn Road, and Orchard Road is reachable in under ten minutes. The nearby Tanglin Mall, Cold Storage at Cluny Court, and the specialist grocery cluster around Serene Centre at Farrer Road supply the day-to-day retail needs that this segment of residents expects. The Singapore Botanic Gardens — listed as a UNESCO World Heritage Site since 2015 — is barely a 15-minute walk away, providing 74 hectares of greenery for morning runs, weekend picnics, and one of the city’s finest free concert venues.
Good Shepherd Convent, Nanyang Girls’ High School (0.71 km), and Nanyang Primary School (0.80 km) are all within a short drive or walk, placing The Capri squarely within one of the most sought-after school catchment clusters in Singapore. Anglo-Chinese School (Primary) at 1.07 km and Methodist Girls’ School at 1.08 km round out an enviable portfolio of primary school options for families navigating the P1 registration exercise. ISS International School’s two campuses — Preston at 0.91 km and Paterson at 0.96 km — also cater to the international-school market for expat residents.
Schools & Education
1 primary school within the 1 km Priority Phase balloting radius.
| School | Type | Distance |
|---|---|---|
| Nanyang Girls' High School | secondary | Within 1 km |
| Nanyang Primary School | primary | Within 1 km |
| ISS International School (Preston) | international | Within 1 km |
| ISS International School (Paterson) | international | Within 1 km |
| Anglo-Chinese School (Primary) | primary | ~1.1 km |
| Methodist Girls' School (Primary) | primary | ~1.1 km |
| Methodist Girls' School | secondary | ~1.1 km |
| Singapore Chinese Girls' School (Primary) | primary | ~1.2 km |
Facilities
The Capri’s facility offering is deliberately minimal — a reflection of its boutique scale rather than any oversight. With 18 units on a modest land parcel, the development provides a swimming pool and basic landscaping. There is no gym, no tennis court, no clubhouse, and no function room. Residents who require resort-style amenities will need to look elsewhere, or to the nearby private clubs (Tanglin Club and American Club are both within 2 km) to supplement the on-site experience.
“The tradeoff is simple: you give up facilities and get back something that no mega-development can offer — genuine quiet and the sense that this is truly your home, not a hotel block. No strangers in the lift, no queue for the pool, no committee drama.”
— Resident perspective via PropertyGuru, 2024
Maintenance fees at boutique freehold developments are typically lower in absolute dollar terms than at large mega-developments with extensive amenity decks, though the per-sqft rates may be comparable. The small MCST means that decisions get made quickly, residents know one another, and the building is managed more like a private building than an institutional complex. For the right buyer, that intimacy is the primary amenity.
Unit Sizes & Layout
Transaction records suggest unit sizes at The Capri run in the mid-range for a 1990s CCR development — larger than today’s micro-unit new launches but not at the sprawling floor-plate scale of some Nassim or Ardmore towers. The limited transaction data (five sales recorded) prevents precise per-stack analysis, but the PSF range of approximately S$1,475 to S$1,988 across different periods implies meaningful variation by floor level and orientation. Upper-floor units commanding a view premium over the Stevens Road tree canopy and toward the Botanic Gardens catchment are likely at the upper end of that band.
One notable advantage of the 1998 vintage is the absence of developers’ pursuit of high gross floor area efficiency. Units from this era were designed with livability in mind rather than maximising sellable square footage. Ceilings tend to be higher than in post-2015 launches, and layouts often include dedicated dining areas, proper utility rooms, and corridors that don’t feel like afterthoughts. Any prospective buyer should budget for a full renovation, as fittings from a 1998 build will be dated by today’s standards, but the structural bones are typically excellent in this tier of CCR development.
| Bedrooms | Transactions | Avg PSF | Avg Price |
|---|---|---|---|
| 1 BR | 1 | $1,669 | $1,150,000 |
| 3 BR | 3 | $1,783 | $1,903,667 |
| 4 BR | 1 | $1,234 | $1,900,000 |
Pricing & Market Position
Based on 5 recorded transactions, sale prices range from $1,150,000 to $2,050,000, averaging $1,752,200.
Rents range from $2,500 to $5,200 per month across 26 rental transactions. Current rental yield sits at approximately 2.5%.
Price Appreciation
From 2021 to 2024, the average PSF has appreciated by 20% (from $1,657 to $1,988 psf).
Neighbourhood Comparison
The two most direct comparisons in the immediate corridor are Fourth Avenue Residences (110m from Sixth Avenue MRT, 99-year lease from 2018, 476 units at S$2,465 psf) and Hyll on Holland (freehold, 319 units at S$2,648 psf). Fourth Avenue is the rational investor choice: newer lease, better amenities, more liquid exit. Hyll on Holland is the lifestyle-freehold choice at a significant premium but with a full facilities deck. The Capri sits below both on headline PSF while offering superior MRT proximity to Hyll on Holland and matching Hyll on freehold tenure — its discount reflects age and facility scarcity, not location inferiority.
Leedon Green (freehold, 638 units at S$2,784 psf) is the largest-scale freehold comparison and the most liquid of the peer set. Buyers choosing between Leedon Green and The Capri are choosing between scale and intimacy: Leedon Green delivers a full resort facility deck and a more institutional resale market, while The Capri delivers a boutique address with virtually zero competition for the unit in any given sale window. Neither is wrong, but they suit fundamentally different buyer types.
| Development | Tenure | TOP | Units | ~Avg PSF |
|---|---|---|---|---|
| THE CAPRI | Freehold | 1998 | 18 | — |
| SKYE AT HOLLAND | 99 yrs lease commencing from 2024 | 2025 | 666 | $2,945 |
| LEEDON GREEN | Freehold | 2021 | 638 | $2,784 |
| D'LEEDON | 99 yrs lease commencing from 2010 | 2014 | 1,703 | $1,855 |
| 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 THE CAPRI across multiple dimensions.
What Residents Say
“Stevens MRT is literally a three-minute walk — I don’t use my car for work anymore. The TEL changed the math on this address completely. What used to feel slightly off-the-beaten-path now feels perfectly connected.”
— Owner review via EdgeProp, 2024
“It’s a very old building and the facilities are minimal — just a pool. But we knew that when we bought. What you’re paying for is the land, the address, and the fact that there are only 17 other households in the whole building. Privacy like this simply doesn’t exist at this price point in District 10 anywhere else.”
— Resident perspective via PropertyGuru, 2023
“Renovation cost us more than expected because the building is from 1998 and everything needed replacing. Budget at least S$150k–S$200k before move-in. That said, three years in, I have zero regrets. The Botanic Gardens walk on a Sunday morning is something I will never give up.”
— Owner review via 99.co, 2024
The dominant theme across owner feedback is the deliberate trade: accept the age, accept the minimal facilities, accept the renovation cost — in exchange for a calibre of address, privacy, and freehold security that simply cannot be found at equivalent price points in District 10. Complaints are rare and tend to be practical rather than fundamental: building maintenance scheduling, parking allocation, and the occasional challenge of getting all 18 owners to agree on major works. EdgeProp’s rental data shows consistent demand from expatriate tenants drawn to the school cluster and MRT connectivity, suggesting the rental market is more forgiving of the building’s age than the sales market might imply.
Strengths & Weaknesses
- Stevens MRT interchange (TEL/DTL) just 190 metres from the door — 3-minute walk
- Freehold tenure — irreplaceable District 10 land with no lease decay
- Only 18 units — exceptional privacy, near-zero lift wait, personal community
- District 10 CCR address (Stevens Road) with Botanic Gardens UNESCO corridor access
- PSF at discount to freehold peers (Leedon Green, Hyll on Holland) — age-adjusted value
- Outstanding school catchment: Nanyang Girls' High, Nanyang Primary, ACS Primary, MGS within 1 km
- ISS International School (2 campuses) sub-1 km — expat family appeal
- Thin resale competition within development — seller faces no within-block rival listings
- TEL connectivity: direct to Orchard (2 stops), CBD and Changi Airport without transfer
- Consistent expatriate rental demand anchored by school cluster and MRT proximity
- Building completed 1998 — fixtures and finishings require full renovation budget ($150k–$200k+)
- Minimal facilities: pool only — no gym, no tennis court, no clubhouse
- Only 5 recorded sales — extremely thin secondary market, long exit timeline likely
- Gross yield 2.46% — well below market average for the investment-only buyer
- Small MCST of 18 units — major works require near-unanimous consensus, can be slow
- No in-compound retail, F&B, or services — daily errands require leaving the building
- Limited transaction data makes PSF benchmarking and valuation less precise
- Lower en-bloc potential (57/100 score) given small plot and boutique land economics
Verdict
The Capri is a fundamentally different proposition from every other condo in its competitive set. Where Skye at Holland offers a brand-new 99-year leasehold megadevelopment at S$2,945 psf and Leedon Green offers a freehold large-scale development at S$2,784 psf, The Capri trades at a meaningful discount — partly due to its age, and partly because boutique buildings of 18 units simply do not attract the same institutional buy-side interest that pushes prices in scale developments. For buyers who understand that freehold land in District 10 is finite and irreplaceable, the per-unit price looks less like a compromise and more like an opportunity.
The ideal buyer here is someone who values the address — Stevens Road, District 10, CCR, Botanic Gardens corridor — above all else, and who does not need a condo to serve as a social hub or facility destination. Stacked Homes and similar property commentators consistently note that boutique freehold CCR buildings of this vintage punch above their weight on holding value precisely because they cannot be built again: the land is too expensive, the plot too small for modern GFA economics, and the tenure irreplaceable. For long-term own-stay buyers, this is a meaningful asymmetry.
The principal risk is liquidity. Five recorded sales over the life of the development tells you everything you need to know about how often units change hands — and how difficult it may be to sell quickly if circumstances change. Buyers should treat The Capri as a long-horizon commitment of at least seven to ten years, not a trading position. For investors specifically, the 2.46% gross yield is below the District 10 market average and reflects the premium commanded by freehold boutique residences; rental demand is solid given the proximity to Stevens MRT and the international school cluster, but the yield math does not justify the acquisition purely on income grounds.