The Dairy Farm
Overview & Key Facts
The Dairy Farm is a 477-unit freehold condominium at Dairy Farm Road in District 23, completed in 1989. Developed by Dairy Farm Estate Pte Ltd, the development occupies a vast 64,660 sqm site comprising 18 low-rise blocks — a scale and density profile that is entirely unlike anything Singapore has produced in the three decades since. The land area alone sets The Dairy Farm apart: at over 6.4 hectares for 477 units, the site coverage ratio is exceptionally low, giving the development the sprawling, park-estate character of a private residential enclave rather than a conventional condominium complex.
The address places The Dairy Farm at the southern edge of the Dairy Farm subzone — a uniquely low-density residential precinct that contains no HDB flats and borders Bukit Timah Nature Reserve and Dairy Farm Nature Park directly. Residents can walk to the entrance of Singapore’s primary remaining rainforest in under ten minutes. This proximity to protected green space is the development’s single most differentiated asset: it cannot be replicated by any new development in the district and is structurally preserved by the land use designations surrounding the site.
Unit sizes are generous by any era: 1-bedroom units from 1,163 sqft, 2-bedroom from 1,173 sqft, 3-bedroom from 1,281 to 2,336 sqft, and a maisonette tier extending to 2,336 sqft. At an average of approximately 1,632 sqft across 477 transactions, The Dairy Farm delivers a space standard that 2020s new launches in this district price at a significant premium, or simply do not offer. With recent resale transactions averaging $1,543 PSF and average monthly rent of approximately $4,423, the implied gross yield is approximately 3.2% — solid for a freehold District 23 asset in the Bukit Timah nature corridor.
The development’s freehold title, massive land area, nature-adjacent positioning, and existing 18-block cluster structure make it a perennial en-bloc discussion subject — though no formal sale process has advanced to date. For buyers, the combination of freehold permanence, Hillview MRT doorstep access, and Bukit Timah Nature Reserve proximity at $1,543 PSF represents a compelling proposition in one of Singapore’s greenest and most exclusively residential districts.
Location & Connectivity
The Dairy Farm sits at Dairy Farm Road in the Dairy Farm subzone of District 23 — one of the most distinctive residential addresses in Singapore. The subzone is unusual in national context: it is entirely private residential, contains no HDB flats, and is bounded on multiple sides by protected nature land. The Bukit Timah Nature Reserve entrance is under one kilometre from the development’s perimeter, and Dairy Farm Nature Park — with its Wallace Trail, Quarry Loop, and Dairy Farm Loop hiking routes — is immediately adjacent. For residents who value outdoor access, this is simply not replicable elsewhere in Singapore at this price point.
MRT connectivity is strong for the district. Hillview MRT (DT3) on the Downtown Line is approximately 486 metres from the development — a comfortable 6–8 minute walk. From Hillview, the Downtown Line provides direct services to Beauty World, Sixth Avenue, King Albert Park, and onward to the CBD via Bugis and Promenade. For residents travelling south to the city, the DTL is efficient and air-conditioned throughout. Cashew MRT (DT2), the next station north, is approximately 1.4 km and provides an alternative for access to Hillion Mall and the Bukit Panjang cluster.
By car, the development has direct access to Dairy Farm Road connecting to Upper Bukit Timah Road, the Bukit Timah Expressway (BKE), and the Kranji Expressway (KJE). The BKE provides fast access to the CBD (under 20 minutes off-peak) and Woodlands. The lifestyle geography rewards drivers: Rail Mall, a heritage shophouse retail strip with cafes, restaurants, and a Cold Storage supermarket, is approximately 500 metres south; HillV2 at Hillview Rise adds a cinema, food court, and retail; Bukit Panjang Plaza and Hillion Mall at Bukit Panjang MRT serve everyday retail needs approximately 2 km north.
The school catchment is strong for families. CHIJ Our Lady Queen of Peace is 273 metres from the development — essentially a doorstep school for Phase 2C registration. Bukit Panjang Primary School is approximately 847 metres; Zhenghua Primary is 1.5 km. The German European School Singapore at Dairy Farm Road serves the expatriate community. For international families, the Bukit Timah corridor’s established international school cluster is accessible via the BKE and Upper Bukit Timah Road.
Schools & Education
| School | Type | Distance |
|---|---|---|
| Pei Hwa Presbyterian Primary School | primary | ~1.5 km |
| Bukit Panjang Government High School | secondary | ~1.8 km |
| Fajar Secondary School | secondary | ~1.9 km |
| Springdale Primary School | primary | ~2.0 km |
| Bukit View Primary School | primary | ~2.0 km |
Facilities
The Dairy Farm’s facilities deck reflects its 1989 vintage and its status as a large estate development designed for self-contained community living. The offering includes a swimming pool, wading pool, fitness corner, sauna, squash court, tennis courts, clubhouse, playground, and notably — on-site mini-marts and a Japanese restaurant. The internal retail component is a genuine differentiator: residents can handle basic grocery and dining needs without leaving the development, a feature that would be considered a selling point in a 2020s new launch and that adds practical daily convenience for families and retirees alike.
With 477 units spread across a 64,660 sqm site, facilities use is distributed across a large community on an enormous footprint. The swimming pool is not a shared bottleneck as it might be in a 500-unit single-tower development on a tight parcel. The tennis courts, squash court, and outdoor fitness zones are all accessible with minimal booking friction. Twenty-four-hour guarded security covers the estate perimeter, consistent with the development’s positioning as a residential enclave rather than an open urban condominium.
“Big landscaping. Econ Mart and Japanese Restaurant inside the development offers convenience to the residents.”
— Resident review via 99.co
The development’s most significant facility advantage is one that money cannot build: its adjacency to Dairy Farm Nature Park and Bukit Timah Nature Reserve. The Wallace Trail, Quarry Loop, and Dairy Farm Loop hiking routes are effectively the development’s extended backyard. For fitness-oriented residents, the combination of on-site tennis and squash courts plus immediate access to rainforest trails is a wellness offering that newer, denser D23 developments simply cannot match.
Unit Sizes & Layout
The Dairy Farm’s 477 units span a range of configurations reflecting the development’s 1989 design brief: generous, family-oriented floor plates delivered across 18 low-rise blocks on a vast site. The unit mix comprises 1-bedroom units (34 units, 1,163–1,507 sqft), 2-bedroom units (108 units, 1,173–1,658 sqft), 3-bedroom units (186 units, 1,281–2,336 sqft), 4-bedroom units (20 units), and maisonette configurations extending to 2,336 sqft. The average transacted size across the development is approximately 1,632 sqft — a space standard that is simply not available in any new launch D23 product at comparable PSF.
The 1-bedroom tier is notable for its size: at 1,163–1,507 sqft, these are 1-bedroom units that deliver the room proportions of a contemporary 2- or 3-bedroom compact unit. For buyers who prefer single-bedroom living but require genuine living space for a home office, hobby room, or hosting guests, The Dairy Farm’s 1-bedroom offering is a differentiated product in a Singapore market where 1-bedroom new launches typically run 430–550 sqft. The 2-bedroom tier at 1,173–1,658 sqft similarly delivers a domestic scale that buyers accustomed to HDB 4-room or 5-room flats will find immediately comfortable.
The 3-bedroom units at 1,281–2,336 sqft are the core of the product: a 186-unit majority of the development’s stock at sizes that give families genuine room for children’s bedrooms, study rooms, and living areas of a scale that modern new launches in this district cannot replicate without moving into the penthouse tier. The maisonette configurations add a duplex format that is uncommon in Singapore condominiums and appealing to buyers who want a landed-style vertical separation between living and sleeping areas within a managed estate.
The low-rise 18-block format means all units sit within 5–6 storeys of ground level. Views are not the selling point: units look out over the development’s own extensive landscaping, mature tree canopy, and the surrounding private housing of the Dairy Farm estate. The compensation is direct ground-level access from most units, the garden-estate ambient quality that no high-rise tower can replicate, and for units facing the nature reserve boundary, outlook over uninterrupted green that is structurally permanent.
| Bedrooms | Transactions | Avg PSF | Avg Price |
|---|---|---|---|
| 3 BR | 12 | $1,576 | $1,935,824 |
| 4 BR | 5 | $1,591 | $2,289,600 |
| 5 BR | 13 | $1,505 | $3,222,615 |
Pricing & Market Position
Based on 30 recorded transactions, sale prices range from $1,550,000 to $3,600,000, averaging $2,552,396 (~$1,608 psf).
Rents range from $2,000 to $8,800 per month across 455 rental transactions. Current rental yield sits at approximately 2.1%.
Price Appreciation
From 2021 to 2026, the average PSF has appreciated by 23.5% (from $1,361 to $1,681 psf).
Neighbourhood Comparison
The most direct comparison for The Dairy Farm is Dairy Farm Residences by United Engineers Limited, a newer mixed development on Dairy Farm Lane at Hillview MRT, completed approximately 2023. Dairy Farm Residences offers 460 units in a modern 15-storey and 5-storey cluster, with contemporary finishes, an integrated retail component, and the same Hillview MRT doorstep connectivity. At significantly higher PSF than The Dairy Farm, Dairy Farm Residences reflects the premium for new construction, modern facilities, and a smaller unit footprint (units from 624 sqft versus The Dairy Farm’s 1,163 sqft minimum). For buyers who prioritise modern finishes and an MRT-integrated lifestyle over raw space, Dairy Farm Residences is the newer alternative — at a substantially higher entry price.
Hillhaven on Hillview Rise, launched in 2023, is another nearby comparator — a 341-unit freehold development by Far East Organization at Hillview MRT. Hillhaven’s new-launch PSF is significantly above The Dairy Farm’s resale level, with smaller unit configurations aligned to 2020s space standards. For buyers weighing Hillhaven’s new construction premium against The Dairy Farm’s space advantage and lower PSF, the trade-off is clear: Hillhaven delivers contemporary finishes and turnkey readiness; The Dairy Farm delivers materially more sqft per dollar and freehold title at a lower upfront PSF with renovation required.
The Skywoods at Dairy Farm Heights (99-year leasehold, 2016, 420 units) illustrates the freehold premium clearly: at PSF levels around $1,100–$1,300, The Skywoods is materially cheaper than The Dairy Farm per sqft — but on a finite 99-year lease versus The Dairy Farm’s permanent freehold title. For long-hold buyers, the additional $200–$400 PSF for freehold is the classic tenure question: freehold title compounds in land value permanently; a 2016 99-year lease has approximately 89 years remaining and a known decay trajectory.
In the broader D23 freehold market, developments along Petir Road and Chestnut Avenue offer newer construction at comparable or higher PSF, but without the nature reserve adjacency or the Hillview MRT walkability that The Dairy Farm benefits from. The Dairy Farm’s green address is its structural competitive advantage in any direct comparison: no other development in D23 can offer both Hillview MRT at under 500 metres and Dairy Farm Nature Park as an immediate backyard.
| Development | Tenure | TOP | Units | ~Avg PSF |
|---|---|---|---|---|
| THE DAIRY FARM | Freehold | — | 477 | $1,608 |
| SOL ACRES | 99 yrs lease commencing from 2014 | 2018 | 1,327 | $1,383 |
| MIDWOOD | 99 yrs lease commencing from 2018 | 2021 | 564 | $1,731 |
| LUMINA GRAND | 99 yrs lease commencing from 2022 | 2024 | 512 | $1,515 |
| DAIRY FARM RESIDENCES | 99 yrs lease commencing from 2018 | 2021 | 460 | $1,659 |
| THE BOTANY AT DAIRY FARM | 99 yrs lease commencing from 2022 | 2023 | 386 | $2,053 |
ShiokNest Scores
Our proprietary scoring system evaluates THE DAIRY FARM across multiple dimensions.
What Residents Say
“A bit older but spacious layouts and peaceful family environment. A few steps away from the Hillview MRT station.”
— Resident review via 99.co
“Big landscaping. Econ Mart and Japanese Restaurant inside the development offers convenience. We can go hiking at Dairy Farm Nature Park right from the condo. Very peaceful, very green.”
— Owner review via 99.co
“The space is incredible for the price. Our 3-bedroom is over 1,500 sqft. The development is old but well-maintained. Children’s school is literally across the road (CHIJ). Nature Reserve 10 minutes on foot. We have no plans to move.”
— Owner comment via EdgeProp
“Renting here for two years. Huge unit, quiet neighbourhood, the Bukit Timah hiking trails are right next door. Rail Mall is a short walk for Cold Storage and good cafes. The only downside is the units need renovation — our landlord updated the kitchen and it’s fine.”
— Tenant review via PropertyGuru
The resident and tenant feedback pattern at The Dairy Farm is consistent: strong satisfaction with unit space and affordability, exceptional appreciation for the nature-adjacent environment, practical praise for the Hillview MRT walkability, and a clear awareness that the 1989 vintage requires renovation investment. The on-site mini-mart and restaurant are consistently cited as practical differentiators. The school proximity — CHIJ Our Lady Queen of Peace at 273 metres — is a recurring draw for families with primary school-age children. The overall resident profile skews toward Singaporean families with children, owner-occupiers comfortable with older stock, and tenant professionals who value green living and MRT access.
Strengths & Weaknesses
- Freehold title — permanent land ownership with no lease decay; strong long-term value preservation
- Hillview MRT (DT3) approximately 486 m away — 6–8 minute walk to Downtown Line air-conditioned transit
- Dairy Farm Nature Park and Bukit Timah Nature Reserve immediately adjacent — hiking, cycling, and rainforest trails as everyday amenity
- Massive 64,660 sqm site for 477 units — estate-scale low-density with extensive green landscaping
- Generous unit sizes: 1BR from 1,163 sqft, 2BR from 1,173 sqft, 3BR from 1,281–2,336 sqft
- $1,543 PSF freehold D23 — accessible entry to nature-corridor freehold below Bukit Timah D10/D21 pricing
- CHIJ Our Lady Queen of Peace 273 m away — one of Singapore’s most sought-after primary schools within walking distance
- On-site mini-mart and Japanese restaurant — practical daily convenience rare in comparable-vintage developments
- Exclusively private residential subzone (no HDB) — low-density, quiet, preserved neighbourhood character
- 18-block low-rise layout with mature landscaping — garden-estate feel and ground-level access throughout
- ~3.2% gross yield ($4,423 rent / $1,543 PSF / ~1,632 sqft avg) — solid for freehold D23 asset
- 1989 vintage — kitchens, bathrooms, fittings require significant renovation investment ($60K–$150K+ depending on scope)
- No tower views — 18 low-rise blocks of 5–6 storeys; no elevated sightlines or city skyline outlook
- Facilities reflect 1989 standard — no infinity pool, sky terrace, clubhouse gym, or lifestyle amenity deck of newer developments
- No dedicated covered walkway to Hillview MRT — 486 m walk exposed to weather
- Large estate (477 units) can feel dated in common areas and corridors despite maintenance
- Cashew MRT (DT2) is 1.4 km away — Hillview (DT3) is the only practical walking MRT option
- Average PSF slightly above mid-range D23 leasehold comparables — freehold premium is built in
- En-bloc potential remains theoretical — 80% consent from 477 units is a high coordination bar
Verdict
The Dairy Farm’s investment case is anchored by three structural advantages that are durable and non-replicable: freehold title on a very large site, immediate adjacency to Bukit Timah Nature Reserve and Dairy Farm Nature Park, and a within-walking-distance position from Hillview MRT on the Downtown Line. In combination, these create a property proposition that no developer can reproduce at this location — the land is effectively locked by the nature reserve boundary and the Dairy Farm estate’s established residential character.
At $1,543 PSF freehold in D23, The Dairy Farm sits at a moderate premium to comparable RCR and OCR condominiums but is meaningfully below Bukit Timah Core Corridor freehold addresses ($1,800–$2,500+ PSF) that command the premium for D10/D21 addresses. For buyers who want the Bukit Timah nature corridor experience — the access to Bukit Timah Nature Reserve, the low-density residential character, the air quality and green canopy — without paying the full D10/D21 CCR premium, D23 Dairy Farm Road represents the most accessible point of entry. The implied gross yield of approximately 3.2% ($4,423 monthly rent on $1,543 PSF at ~1,632 sqft average) is healthy for a freehold asset in this corridor.
The en-bloc angle merits clear-eyed assessment. The Dairy Farm’s 6.4-hectare freehold site is one of the largest private condominium land parcels in Singapore outside of the prime districts, and the combination of freehold title, large site, and 18-block low-rise density creates theoretical en-bloc math that is favourable relative to smaller or leasehold comparables. However, with 477 units, achieving the 80% owner consent threshold is a significant coordination challenge, and no formal en-bloc process has advanced to date. The en-bloc potential is a background optionality, not a thesis to rely upon for investment returns.
The Dairy Farm is the right answer for families and nature-oriented buyers who want freehold space, a genuine green address at Bukit Timah Nature Reserve’s doorstep, generous unit sizes, and Hillview MRT walkability — at a PSF level that new launches in the corridor cannot approach.
The renovation requirement is the primary budget discipline for incoming buyers: at 37 years old, most units will require a full refresh, and this cash outlay must be included in total acquisition cost. The 1989 vintage is also visible in common areas, which while functional and maintained, reflect the aesthetic standards of their era. Against these considerations, the freehold permanence, the land-to-unit ratio, the nature park adjacency, and the Hillview MRT connectivity are enduring advantages. For long-hold owner-occupier families who prioritise space, green, and freehold over contemporary finishes, The Dairy Farm remains one of the most distinctive propositions in District 23.