The Garden Residences
What happens when a 613-unit mid-scale development plants itself at the edge of Singapore's most beloved heritage food belt, on a fresh 99-year lease, but parked a 10-minute drive from the nearest MRT interchange? The Garden Residences is the live case study (as of 2026-05). TOP-ed in 2021 by the Keong Hong Holdings and Wee Hur joint venture on a 99-year leasehold from 2017 in District 19 Serangoon and Hougang, the project sits along Serangoon North View at the doorstep of Chomp Chomp Food Centre and the broader Serangoon Gardens heritage estate. The lease decay clock is at year 9 (as of 2026-05), leaving roughly 90 years of tenure — structurally one of the longer remaining 99-year runways in the D19 cohort. We pressure-test The Garden Residences against three direct D19 competitors — Affinity at Serangoon, Riverfront Residences, and The Florence Residences — to decide whether the Serangoon Gardens lifestyle premium and ~90-year lease are rationally priced against the 613-unit absorption load and the MRT-distance penalty versus Affinity. Model your quantum through the mortgage calculator and stamp duty calculator before working through the analysis.
Project profile and Serangoon Gardens positioning (as of 2026-05)
The Garden Residences was launched in 2018 and obtained Temporary Occupation Permit in 2021 under a joint venture between Keong Hong Holdings (SGX-listed) and Wee Hur Holdings, two established Singapore mid-cap developers with multi-project track records. The development sits along Serangoon North View in District 19, comprising 613 units across mid-rise residential blocks on a 99-year leasehold commencing 2017 — leaving approximately 90 years of remaining tenure as of 2026-05 (consult the lease decay calculator for a unit-level decay schedule). The positioning matters because Serangoon Gardens is one of Singapore's most identifiable heritage residential estates, anchored by Chomp Chomp Food Centre on Kensington Park Road — a hawker institution that draws cross-district visitors nightly and shapes the lifestyle narrative for any nearby residential project.
The Serangoon Gardens premium is real but specific. The estate's low-rise landed character, the Chomp Chomp food belt, and the cluster of cafes and supermarkets along Serangoon Garden Way collectively define a recognisable lifestyle proposition that buyers willingly pay for. The Garden Residences captures the spillover demand from buyers who want Serangoon Gardens adjacency without committing to landed-property quantum. Verify the lifestyle catchment via the amenity heatmap layers and benchmark D19 price-per-square-foot trends through the price heatmap before drawing conclusions on the address premium.
Overview & Key Facts
The Garden Residences is a 613-unit condominium at Serangoon North View in District 19, jointly developed by Keppel Land and Wing Tai Asia — two of Singapore’s most established developers. Completed in August 2021 on a 99-year lease from 2017 (roughly 90 years remaining), the development comprises five towers of 14–15 storeys each, sitting on a 14,605 sqm site at the edge of the Serangoon Gardens landed estate. The architect is ADDP Architects, the same firm behind numerous award-winning residential projects in Singapore.
The design philosophy is in the name: The Garden Residences was conceived as homes set within a garden, not a garden attached to homes. The development features a curated landscape of over 100 species of trees and plants, a scenic boardwalk threading through the grounds, and skylights designed to emulate sunlight filtering through a forest canopy. Interior corridors incorporate planters and vertical posts that mimic tree forms. It is an earnest attempt to bring Serangoon Gardens’ kampung-era greenery into a modern condominium — and largely succeeds.
At an average PSF of S$1,862 across 209 recorded sales transactions, The Garden Residences sits in the mid-range for District 19 — priced above the nearby Florence Residences (S$1,743 psf) and Riverfront Residences (S$1,585 psf), but well below the recently launched Chuan Park (S$2,596 psf). With 568 rental transactions on record and a gross yield of 3.04%, the development has established a solid rental track record — though the profitability score of 32/100 warrants careful examination.
Location & Connectivity
The Garden Residences occupies a comfortable position on the fringe of the Serangoon Gardens estate — close enough to enjoy the area’s famed food culture and landed-home charm, while being technically addressed in Serangoon North. A side gate at the rear leads directly to Lichfield Road, putting residents within a five-minute walk of the Serangoon Gardens heartland, including the celebrated Chomp Chomp Food Centre, myVillage at Serangoon Garden, and a cluster of cafes along Maju Avenue.
For daily essentials, the picture is adequate but not outstanding. FairPrice and FairPrice Finest are accessible within a short drive or bus ride. The myVillage mall offers boutique retail and a Cold Storage supermarket. The walkability score of 45/100 reflects the reality that while food options are excellent by Singapore standards, most errands still require transport. This is not a walk-to-everything location.
The elephant in the room is MRT access. As of early 2026, there is no operational MRT station within comfortable walking distance. Serangoon MRT Interchange (North-East and Circle Lines) is approximately 1.8 km away — too far for a daily walk. The nearest current station, Lorong Chuan MRT (Circle Line), is roughly 1.5 km. Residents rely on buses or driving, and Keppel Land initially offered a free shuttle bus to Serangoon MRT for the first year after TOP.
The good news is that this will change. The future Serangoon North MRT station (CR9) on the Cross Island Line is approximately 600–737 metres from the development — a genuine 8–10 minute walk. Construction is underway and Phase 1 completion is targeted for 2030. Once operational, the CRL will connect residents to Ang Mo Kio (2 stops, interchange to North-South Line), Hougang (1 stop, interchange to North-East Line), and Pasir Ris — a genuinely transformative upgrade. The Tavistock MRT station (CR10) at 945 metres will provide a second option.
For drivers, the Central Expressway (CTE), Pan Island Expressway (PIE), and Tampines Expressway (TPE) are all easily accessible via Yio Chu Kang Road and Ang Mo Kio Avenue 3. The CBD is roughly 20 minutes away in off-peak conditions.
Schools & Education
3 primary schools within the 1 km Priority Phase balloting radius.
| School | Type | Distance |
|---|---|---|
| Xinghua Primary School | primary | Within 1 km |
| Serangoon Garden Secondary School | secondary | Within 1 km |
| Yangzheng Primary School | primary | Within 1 km |
| Serangoon Secondary School | secondary | Within 1 km |
| Rosyth School | primary | Within 1 km |
| Bowen Secondary School | secondary | Within 1 km |
| Xinmin Secondary School | secondary | ~1.3 km |
| Townsville Primary School | primary | ~1.3 km |
Facilities
The Garden Residences delivers an impressive 55 facilities across its 14,605 sqm site — a generous count for a 613-unit development. The centrepiece is a 75-metre curving swimming pool, substantially longer than the 50-metre pools found in most comparable condos. Beyond the main pool, the aquatic offering includes a swim-up spa, floating pods, and children’s water play areas.
Where The Garden Residences genuinely distinguishes itself is in its wellness-oriented amenities. The development features a Garden Onsen, hydrotherapy pavilion, floating yoga pavilion, reflexology garden, and meditation pavilion — facilities that go well beyond the standard gym-pool-BBQ formula. A tree hammock area and reading pavilions sit atop a calm in-built stream that winds through the grounds, creating quiet zones for relaxation that feel genuinely considered rather than token.
The more conventional facilities are equally well-provisioned: a 24-hour gym, tennis court, gourmet kitchen, dining pavilions, BBQ areas, a clubhouse, and children’s play areas. The boardwalk through the curated 100-species garden is a daily-use feature that residents consistently cite as a highlight — it transforms what could be a standard landscaped path into a genuine amenity.
Smart home integration is built-in across all units. The Habitap smart home system provides app-based control of air conditioning, water heaters, lighting, and door locks. The community app extends to facility booking, community cameras (so parents can check on children at the pool), and a smart parcel collection system. These features were forward-thinking at launch in 2021 and remain functional and well-maintained.
One consideration: 55 facilities across 613 units means a reasonable cost-sharing base, but the wellness-heavy amenity set (onsen, hydrotherapy, yoga pavilion) requires more specialised upkeep than standard pools and gyms. Maintenance fees should be checked against comparable developments to ensure sustainability.
Unit Sizes & Layout
The Garden Residences offers a broad unit mix across nine configuration types, ranging from compact 1-bedroom units at 452 sqft to spacious 5-bedroom units up to 1,539 sqft (some marketing materials cite up to 1,981 sqft for the largest penthouses). The breakdown by type provides good diversity:
- 1-Bedroom (452–570 sqft): 86 units
- 1-Bedroom + Study (517–614 sqft): 68 units
- 2-Bedroom (614–732 sqft): 97 units
- 2-Bedroom + Study (689–829 sqft): 84 units
- 3-Bedroom (786–1,066 sqft): 127 units
- 3-Bedroom + Study (904–1,163 sqft): 44 units
- 4-Bedroom + Study (1,119–1,442 sqft): 54 units
- 4-Bedroom Deluxe (1,195–1,561 sqft): 26 units
- 5-Bedroom (1,539–1,981 sqft): 27 units
All units are oriented in a north-south facing layout, which is a genuine advantage in Singapore’s equatorial climate — minimising direct afternoon sun exposure and reducing cooling costs. Upper-floor units in towers facing south enjoy unblocked views over the low-rise Serangoon Gardens landed estate, a view corridor that is unlikely to be disrupted given the conservation status of the area.
The 3-Bedroom configurations (127 + 44 = 171 units, or 28% of total stock) form the largest segment, reflecting the development’s family-oriented positioning. The 4-Bedroom + Study and Deluxe variants (80 units combined) are well-suited for larger families who want space without the premium of a landed home. Unit efficiency is generally good — Keppel Land and Wing Tai have a track record of functional layouts with minimal wasted corridor space.
Interior finishes are aligned with the developers’ mid-to-upper positioning. Units come with smart home integration (Habitap system), quality fittings, and engineered timber flooring in bedrooms. The kitchen and bathroom specifications are solid without being luxury-tier — appropriate for the S$1,862 psf price point. Most owners report minimal renovation needs beyond personalisation.
| Bedrooms | Transactions | Avg PSF | Avg Price |
|---|---|---|---|
| 0 BR | 31 | $1,755 | $795,305 |
| 1 BR | 84 | $1,807 | $1,127,365 |
| 2 BR | 68 | $1,841 | $1,513,168 |
| 3 BR | 22 | $1,823 | $2,051,990 |
| 4 BR | 10 | $1,782 | $2,713,339 |
| 5 BR | 1 | $1,489 | $2,950,000 |
Pricing & Market Position
Based on 216 recorded transactions, sale prices range from $755,000 to $3,100,000, averaging $1,377,202 (~$1,872 psf).
Rents range from $2,000 to $8,500 per month across 572 rental transactions. Current rental yield sits at approximately 3.0%.
Price Appreciation
From 2021 to 2026, the average PSF has appreciated by 13.5% (from $1,630 to $1,850 psf).
Neighbourhood Comparison
The Garden Residences sits in a competitive District 19 landscape with several developments vying for a similar buyer profile. The most instructive comparisons are with developments of similar vintage and location.
Chuan Park (S$2,596 psf) is the new-launch benchmark in the area. Its dramatically higher PSF reflects a fresh 99-year lease, direct proximity to Lorong Chuan MRT (Circle Line), and new-launch pricing premiums. Buyers choosing between the two are essentially deciding whether MRT access today and a fresh lease are worth a 39% PSF premium over The Garden Residences. For buyers comfortable waiting for the 2030 CRL opening, The Garden Residences offers considerably more space per dollar.
Florence Residences (S$1,743 psf, 1,410 units) is a mega-development near Kovan MRT with a lower price point but a very different scale and character. Florence offers better MRT access today (Kovan on the North-East Line) and a wider unit mix, but The Garden Residences wins on landscaping quality, facility thoughtfulness (wellness-oriented vs. standard), and the Serangoon Gardens food proximity.
Riverfront Residences (S$1,585 psf, 1,472 units) near Hougang MRT offers the lowest entry price in this comparison. It trades at a 15% discount to The Garden Residences but is a mega-development with a different living environment. For pure investment yield, Riverfront’s lower PSF may produce better percentage returns, but the lifestyle proposition is not comparable.
Affinity at Serangoon (1,052 units) is the most direct comparison — launched in the same year, located minutes apart. Stacked Homes’ analysis found Affinity delivered superior annualised capital gains (2.49% vs 1.69%) primarily because its lower entry price provided more upside room. However, The Garden Residences’ smaller scale (613 vs 1,052 units), superior landscaping, and Serangoon Gardens proximity give it a lifestyle edge that appeals to own-stay buyers.
| Development | Tenure | TOP | Units | ~Avg PSF |
|---|---|---|---|---|
| THE GARDEN RESIDENCES | 99 yrs lease commencing from 2017 | 2021 | 613 | $1,872 |
| 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 2017, meaning approximately 9 years have already been consumed. Roughly 90 years remain — still comfortably within the range where most banks will offer full financing without restrictions.
| Year | Lease remaining | Implication |
|---|---|---|
| 2026 (now) | ~90 years | Full bank financing available |
| 2047 | ~69 years | CPF usage still unrestricted for most buyers |
| 2056 | ~59 years | Approaching 60-year threshold — CPF limits begin for some |
| 2076 | ~39 years | Significant financing restrictions for next buyer |
| 2116 | 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 ~80 years remaining, which is still very bankable. The risk profile changes for longer holds.
ShiokNest Scores
Our proprietary scoring system evaluates THE GARDEN RESIDENCES across multiple dimensions.
What Residents Say
“I like this place because it is quiet and spacious. It is also windy and clean. We can walk to either Serangoon Gardens or Serangoon North for food. The condo interior also looks good such as gardens and ponds within.”
— Resident review via 99.co
“Quiet, not facing any expressway. Cheap maintenance, efficient layouts, good rental yield. Walking distance to Serangoon North MRT and Chomp Chomp Hawker Center.”
— Resident review via 99.co
“Panorama view — quiet and tranquil.”
— Resident review via PropertyGuru
Resident sentiment at The Garden Residences is consistently positive, with recurring themes of tranquillity, greenery, and food accessibility. The development’s distance from any expressway means no traffic noise — a genuine quality-of-life factor that residents repeatedly highlight. The garden landscaping and water features are frequently described as resort-like, and the boardwalk through the 100-species garden is cited as a daily-use feature rather than a show amenity.
The proximity to Serangoon Gardens’ food enclave is a standout in resident feedback. Chomp Chomp Food Centre, one of Singapore’s most famous hawker clusters for satay, barbecued seafood, and carrot cake, is accessible via the rear gate. Cafes like The Coffee Daily and One Man Coffee on nearby Maju Avenue add to a food-centric lifestyle that residents clearly value.
The recurring negatives mirror the development’s objective weaknesses: the lack of a nearby MRT station (until the CRL opens), limited retail options within walking distance, and the reality that a car or regular bus usage is necessary for most errands. Some residents note that maintenance fees, while described as “cheap” by multiple reviewers, may increase as the development ages and the wellness-oriented facilities require more upkeep. Overall, though, the resident community appears settled and satisfied — the 89.8% Singaporean buyer profile suggests a stable, owner-occupier base.
Pros — Serangoon Gardens lifestyle, heritage estate, ~90-year lease (as of 2026-05)
The investment case rests on three legs. First, the Serangoon Gardens lifestyle anchor is structurally durable. Chomp Chomp Food Centre, Serangoon Garden Way's cafe and supermarket cluster, and the surrounding landed enclave collectively define a heritage residential identity that newer estates in Hougang or Punggol cannot replicate. The URA Master Plan preserves the low-rise character of Serangoon Gardens itself, which means the residential ambience around The Garden Residences is protected against the typical intensification risk that erodes nearby project amenity. Preview the project's score profile on the walkability and investment score map before underwriting.
Second, the ~90-year remaining lease is materially longer than the bulk of comparable D19 stock. Most D19 99-year leasehold projects launched between 2010 and 2016 are now at year 12 to year 18 of decay; The Garden Residences at year 9 (as of 2026-05) sits structurally inside the gentle-decay zone, where price decay typically runs less than 0.5 percent per year through year 30 per SLA Bala curve approximations. For buyers underwriting a 10 to 15-year hold, the lease runway is a tangible asset versus older D19 inventory. Third, the heritage estate adjacency creates a defensible resale narrative — Serangoon Gardens itself is not gaining new condominium stock at scale (landed character is preserved), so The Garden Residences and its cohort retain a structural supply ceiling within the lifestyle catchment. Cross-check live pricing dynamics via the URA caveat data (as of 2026-05) and model the freehold-versus-leasehold trade-off with the total cost calculator.
Risks — 613-unit absorption, MRT distance, D19 supply pipeline (as of 2026-05)
The risks compound and require explicit modelling. First, the 613-unit absorption load is the headline structural risk. Resale supply at any given time is materially deeper than a 200-to-300-unit boutique, which widens bid-ask spreads when sentiment turns and stretches the exit timeline for sellers who need liquidity inside 12 months. Owners should benchmark live listing depth on the price heatmap before pricing a resale, and stress-test holding periods of seven years or longer to ride through cycle compression.
Second, the MRT distance penalty is the structural disadvantage versus Affinity at Serangoon. Serangoon MRT (North-East Line and Circle Line interchange) is roughly a 10-minute drive from The Garden Residences, not a walkable address. Affinity at Serangoon sits closer to Serangoon MRT along Serangoon North Avenue, and its rental yield differential reflects this — tenants pay up for walkable MRT proximity, and the gap is visible in caveat data. Verify your own door-to-station timing via the commute time map. Third, the D19 supply pipeline remains active. New launches in Hougang, Serangoon, and the broader D19 belt continue to come online (track via the Government Land Sales map and the new launches map), and competing inventory within a 2km radius compresses pricing power. The MAS TDSR framework caps total debt servicing at 55% of gross monthly income (as of 2026-05), so buyers stretching into the upper D19 quantum band should validate serviceability through the TDSR calculator before committing.
D19 cohort benchmark — Affinity, Riverfront, The Florence Residences (as of 2026-05)
To pressure-test The Garden Residences's pricing and positioning, we benchmark against three direct District 19 competitors that share the post-2017 launch window. Affinity at Serangoon (1,052 units, 99-year leasehold from 2017, TOP 2022) is the volume comparable and the primary MRT-walkable alternative — its proximity to Serangoon MRT (NEL and CCL interchange) along Serangoon North Avenue gives it a structural rental and resale yield advantage that The Garden Residences cannot match on transport alone. The trade-off is Affinity's 1,052-unit count, which means a materially deeper resale book and correspondingly more compressed lifestyle ambience versus The Garden Residences's Serangoon Gardens adjacency.
Riverfront Residences (1,472 units, 99-year leasehold from 2017, TOP 2022) sits along Hougang Avenue 7 facing the Sungei Serangoon waterfront — a different lifestyle proposition centred on waterfront amenity and the Punggol Park Connector. Its 1,472-unit count is the largest in the D19 cohort, which delivers liquidity advantages on resale but exposes owners to the deepest absorption risk when sentiment turns. The Florence Residences (1,410 units, 99-year leasehold from 2018, TOP 2023) on Hougang Avenue 2 anchors the largest-scale category and competes directly on facility load — its 128-facility club concept targets the lifestyle-buyer segment that overlaps with The Garden Residences's catchment, though without the Serangoon Gardens heritage premium. Cross-check the four projects via the condo comparison tool and the rental yield ROI calculator to model holding-period returns across the lifestyle-versus-transport axis.
Verdict — a heritage-adjacent mid-scale with a long lease and a transport trade-off (as of 2026-05)
The Garden Residences sits in a specific category: a mid-scale D19 development with a structurally long ~90-year lease, a defensible Serangoon Gardens lifestyle anchor, but a 10-minute-drive MRT-distance penalty that materially compresses rental yield versus the cohort leader. The asymmetry favours owner-occupier families who prioritise the Chomp Chomp food belt, the heritage estate ambience, and the long lease runway over walkable MRT access. It is not the right fit for pure-yield investors — Affinity at Serangoon offers a more transparent MRT-walkable yield case in the same launch window, and pure-yield buyers should default to Affinity unless the Serangoon Gardens lifestyle premium has explicit standalone value to them.
For Singapore Citizen and Permanent Resident families with S$2.0M to S$2.5M quantum capacity who place heritage estate adjacency and ~90-year lease runway above headline rental yield, The Garden Residences is structurally attractive. The 613-unit absorption load is the headline risk to model — stress-test holding periods of seven years or longer, and verify live resale caveats via URA (as of 2026-05) to confirm bid-ask spreads against the broader D19 cohort. Looking ahead, the URA Master Plan amenity map preserves the Serangoon Gardens low-rise character, which protects the lifestyle catchment from intensification dilution over the next planning cycle.
Before committing, run the full quantum through the total cost calculator, the cash flow projection tool, and the TDSR calculator. Side-by-side Affinity at Serangoon, Riverfront Residences, and The Florence Residences via the comparison tool, and confirm primary school catchment via the amenity scores map. Foreign buyers should validate ABSD remission pathways via the stamp duty calculator and confirm financing terms through the mortgage calculator before underwriting. The cohort-supply view also matters (as of 2026-05): the new launches map shows the D19 pipeline tightening over 2026 to 2027, which should support resale pricing for the post-2017 cohort once the absorption cycle clears.
Pricing, yield mechanics and the cohort spread (as of 2026-05)
Pricing in the D19 Serangoon and Hougang submarket has tracked the URA Property Price Index for non-landed Outside Central Region with sub-cohort variation driven by transport proximity and lifestyle catchment. Three-bedroom resale units at The Garden Residences clear at price-per-square-foot levels broadly in line with the post-2017 D19 cohort (as of 2026-05), with the Serangoon Gardens lifestyle premium roughly offsetting the MRT-distance penalty against Affinity at Serangoon. Use the condo comparison tool to model the spread directly against Affinity, Riverfront, and The Florence Residences.
Rental yield is where the MRT-distance penalty bites hardest. Three-bedroom rents at The Garden Residences typically trail Affinity at Serangoon by 5 to 10 percent on a per-square-foot basis, producing gross yields that sit in the mid-tier of D19 stock — competitive but not category-leading. Model the net figure with the rental yield ROI calculator and compare district averages on the rental yield heatmap. Foreign buyers should also layer in IRAS Additional Buyer's Stamp Duty at 60% (as of 2026-05) and Singapore Citizen second-property ABSD at 20% per the IRAS ABSD framework — both materially narrow the investor buyer pool and require explicit modelling through the stamp duty calculator before underwriting. Owner-occupiers should validate total acquisition cost via the total cost calculator and serviceability via the affordability calculator.