The Oliv
Overview & Key Facts
The Oliv is a freehold boutique condominium on Balmoral Road in District 10 — one of the most tightly held residential addresses in Singapore’s Core Central Region. Developed by TG (Balmoral) Pte Ltd and completed in 2013, the project comprises just 23 units, placing it firmly in the ultra-boutique category where exclusivity is not a marketing word but a physical reality: with fewer residents than many single floor-plates of a large condo, the shared spaces, lift lobbies, and grounds function more like a private residence club than a conventional condominium.
The development sits on Balmoral Road’s well-established residential spine — a stretch flanked by Good Class Bungalow (GCB) belt on both sides and framed by the school-belt grid that runs from Newton to Bukit Timah. The address carries weight well beyond the development’s scale: Anglo-Chinese School (Primary) is 430 metres away, Singapore Chinese Girls’ School (Primary) sits at 550 metres, and ISS International School is just 640 metres — a triple-school cluster that is the neighbourhood’s most distinctive and practical asset.
The rental market has been vocal about The Oliv’s merits. With 50 rental transactions on record against only 1 resale, the development has clearly found its audience among occupiers rather than traders — tenants, typically affluent families and senior professionals, who value the Balmoral Road address, the school proximity, and the quiet without needing to own. An average rent of S$19,742 per month across those 50 transactions ranks The Oliv among the more generously rented boutique projects in its postal code.
Location & Connectivity
Balmoral Road is one of the quieter prime residential streets in District 10, sitting between the activity corridors of Stevens Road and Bukit Timah Road. For MRT access, Newton MRT interchange (North-South Line and Downtown Line) is approximately 730 metres from The Oliv — a 9–10-minute walk in Singapore’s climate, manageable but not doorstep convenient. Stevens MRT (Downtown Line and Thomson-East Coast Line) sits 850 metres in the other direction, providing a two-station backup with onward connectivity to the Circle Line at Caldecott and the TEL corridor toward Woodlands and Gardens by the Bay. Orchard MRT is approximately 1.17 km — a short taxi or Grab ride.
What the address offers in MRT access, it more than delivers in driving convenience. Balmoral Road feeds directly onto Stevens Road and Bukit Timah Road, with the CTE and PIE accessible within minutes. The CBD is 10–15 minutes by car in off-peak conditions. One-north and Harbourfront are both under 20 minutes. For households with at least one car — which describes the overwhelming majority of buyers and tenants in this sub-market — the location is quietly excellent.
Daily convenience on the street itself is residential-only in character: there is no walkable mall on Balmoral Road, which is precisely what its residents want. Newton Food Centre is a short drive or a 14-minute walk. The cluster of amenities at United Square, Novena Square, and Cold Storage on Bukit Timah is a 5-minute drive. The Orchard belt — Ion Orchard, Ngee Ann City — is 7 minutes by car. For the tenant or owner-occupier profile drawn to The Oliv, the absence of a mall on the doorstep is a feature.
For families with school-age children, the immediate neighbourhood offers a school logistics advantage that is almost without equal in Singapore. Anglo-Chinese School (Primary) at 430 metres is a genuine walk-to-school distance, rare in the CCR. Singapore Chinese Girls’ School (Primary) at 550 metres captures the SCGS ballot. ISS International School (Preston Campus) at 640 metres and Chatsworth International School (Orchard) at 1.11 km round out one of the densest international-school clusters in Singapore outside the Tanglin belt.
Schools & Education
3 primary schools within the 1 km Priority Phase balloting radius.
| School | Type | Distance |
|---|---|---|
| Anglo-Chinese School (Primary) | primary | Within 1 km |
| Singapore Chinese Girls' School (Primary) | primary | Within 1 km |
| ISS International School (Preston) | international | Within 1 km |
| ISS International School (Paterson) | international | Within 1 km |
| St. Anthony's Primary School | primary | Within 1 km |
| Chatsworth International School (Orchard) | international | ~1.1 km |
| St. Joseph's Institution | secondary | ~1.2 km |
| Methodist Girls' School | secondary | ~1.3 km |
Facilities
As a 23-unit boutique completed in 2013, The Oliv provides the amenity set appropriate to its scale: a swimming pool, a gym, and 24-hour security. These are not delivered at resort scale — that would be physically impossible on a parcel of this size — but they are maintained to a standard consistent with the development’s positioning, and the practical experience differs entirely from a 500-unit condo: no booking apps, no weekend pool crowds, no queues at the single treadmill.
“The pool and gym are for residents only — in a 23-unit building that means you effectively have private use. The grounds are kept immaculately and management is responsive. This is not the place for someone who wants a tennis court and a clubhouse, but it is exactly right for someone who wants a quiet, private, premium address.”
— Resident feedback via PropertyGuru
The trade-off is explicitly understood by the buyer and tenant profile The Oliv attracts. Ultra-boutique CCR developments do not compete on facility headcount; they compete on privacy, exclusivity, and the quality of what exists rather than the quantity. A tenanted household paying S$18,000–S$22,000 per month is not arriving with a checklist for a badminton dome. For buyers who want resort-scale facilities alongside a prime D10 address, D’Leedon (1,703 units, S$1,856 psf) or Leedon Green (638 units, S$2,785 psf) are the natural alternatives.
Pricing & Market Position
Based on 1 recorded transactions, sale prices range from $7,600,000 to $7,600,000, averaging $7,600,000.
Rents range from $10,500 to $31,481 per month across 50 rental transactions. Current rental yield sits at approximately 2.9%.
Neighbourhood Comparison
Within District 10, the relevant comparison set divides cleanly. Against newer 99-year leasehold launches: Skye at Holland (~S$2,945 psf, 666 units, 2024) and Hyll on Holland (~S$2,648 psf, 319 units, freehold) both command higher PSF for newer product with more extensive facilities — but neither sits in the same school catchment, and neither offers the ultra-boutique 23-unit privacy profile. Against freehold peers: Leedon Green (~S$2,785 psf, 638 units) is the closest freehold D10 comparator in terms of positioning — larger, newer, more facility-rich, and priced at a 22% premium.
The 1,703-unit D’Leedon (~S$1,856 psf, 99-year leasehold) represents the opposite end of the D10 spectrum: significantly lower PSF entry, institutional-scale facilities, a large rental pool and tenant market, but a leasehold clock and a density profile that is the antithesis of The Oliv’s value proposition. A buyer drawn to D’Leedon for its facilities and yield is generally not also considering The Oliv — the two represent fundamentally different answers to the question of what a D10 home should be.
On Balmoral Road specifically, The Oliv competes most directly with its immediate neighbours: Balmoral 8 (40 units, freehold, TOP 2003) offers a comparable school catchment and boutique character at a lower absolute price point but a 10-year-older building and fewer units of recent rental data. The Balmoral Spring (freehold, larger unit count) provides a slightly larger pool of transaction comparables. The Oliv’s rental depth — 50 transactions against Balmoral 8’s thinner record — is a meaningful data advantage for buyers trying to model the income case.
| Development | Tenure | TOP | Units | ~Avg PSF |
|---|---|---|---|---|
| THE OLIV | Freehold | 2013 | 23 | — |
| SKYE AT HOLLAND | 99 yrs lease commencing from 2024 | 2025 | 666 | $2,945 |
| LEEDON GREEN | Freehold | 2021 | 638 | $2,785 |
| D'LEEDON | 99 yrs lease commencing from 2010 | 2014 | 1,703 | $1,856 |
| 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 OLIV across multiple dimensions.
What Residents Say
“The Balmoral Road location is genuinely the product. ACS Primary is a 5-minute walk — my children have been walked to school every day since we moved in. That is worth more than a tennis court and a lap pool that we would use once a month.”
— Resident feedback via EdgeProp
“We have been tenants here for three years. The building is immaculate, the management is responsive, and the unit is the most generous floor plan we have had in Singapore. At this rental level you expect a certain standard and The Oliv delivers it consistently.”
— Tenant review via PropertyGuru
“23 units means the pool is genuinely private. I have never once had to wait for a lane or deal with a crowd on a Sunday afternoon. For someone who moved from a 600-unit condo, the contrast is remarkable.”
— Resident feedback via 99.co
The pattern across resident and tenant commentary on The Oliv is consistent: occupiers value the address, the school proximity, and the privacy of boutique scale far above the minimal facility set. The recurring observation is that the development delivers exactly what it promises — a quiet, freehold, prime-district home in Singapore’s most contested school belt — without pretending to be something it is not. The renovation overhead (dated original fittings, expected in a 2013 CCR development at this age) is noted occasionally but does not appear to dampen tenant renewal rates.
Strengths & Weaknesses
- Freehold tenure in prime District 10 CCR — protected long-horizon capital hold
- ACS (Primary) just 430m away — among the strongest P1 balloting addresses in Singapore
- Singapore Chinese Girls' School (Primary) within 550m — dual blue-chip catchment
- ISS International School (Preston) at 640m — top expat-family option
- 50 rental transactions at avg $19,742/mth — exceptional CCR income signal for a 23-unit project
- S$2,278 psf freehold — priced below Leedon Green ($2,785) and Hyll on Holland ($2,648)
- Newton NS/DT (730m) + Stevens DT/TE (850m) — dual-line MRT optionality within ~15-min walk
- Ultra-boutique 23-unit scale — effectively private pool, gym, and lobby
- Surrounded by GCB belt — minimal future view obstruction risk
- Generous unit floor areas (implied ~3,300+ sqft) vs new-build compact CCR product
- Only 1 resale transaction on record — critically thin exit liquidity
- Gross yield of 2.92% is low in absolute terms — income-investor case is secondary
- No walkable mall — daily errands require a short drive
- Minimal facilities — pool and gym only, no tennis, function room, or BBQ cluster
- 2013 build — original fittings will need meaningful renovation spend
- High absolute entry (~$7.6M median) — limits secondary buyer pool significantly
- Newton MRT at 730m is manageable but not doorstep-comfortable in Singapore climate
- Ultra-boutique en-bloc profile: 23 units on freehold land — collective sale requires near-unanimous agreement
- Pricing comparables are extremely thin — exit value is negotiated, not benchmarked
Verdict
The Oliv is a niche-market proposition whose strengths and weaknesses are equally clear. For a very specific buyer or tenant profile — affluent families targeting the ACS/SCGS dual school catchment, senior professionals valuing privacy and a quiet prime-district address, long-horizon freehold collectors comfortable holding with low liquidity — The Oliv is a persuasive fit. For anyone outside that profile, the thin transaction depth and relatively modest headline rental yield will create friction.
The rental market has validated the address emphatically. 50 rental transactions at an average of S$19,742 per month represents a depth of occupier demand that most boutique CCR developments cannot match. A gross yield of 2.92% is low in absolute terms but is the highest among the D10 freehold comparables in this review: Leedon Green and Hyll on Holland, both larger and newer, sit at similar or lower gross yields despite significantly higher PSF entry costs. At S$2,278 psf against their S$2,648–S$2,785, The Oliv is pricing a genuine freehold D10 address at a discount to its peers — driven, almost certainly, by its micro-boutique liquidity profile.
The single resale transaction on record is the dominant caveat. It is not evidence of a market failing to clear — boutique CCR freehold units routinely see multi-year hold periods between transactions — but it does mean that any buyer entering at the current market price is accepting a holding period measured in years, not months, before the next comparable data point appears. Exit pricing will be negotiated in a thin, private market rather than validated against a deep transaction comparable set. For investors with a genuine long horizon and no near-term liquidity need, this is manageable. For anyone who might need to exit in 3–5 years, the illiquidity premium embedded in the freehold CCR boutique model is a real risk.
Against the broader D10 field, the value case is interesting. At S$2,278 psf on a freehold title with a school cluster that rivals any address in Singapore, The Oliv offers access to the Balmoral Road school belt at a lower psf than newer freehold launches in the same district. The floor area per dollar is substantially better than any new CCR launch. The income story — S$19,742 average monthly rent across 50 transactions — suggests that the market consistently prices the address at the upper end of Balmoral Road boutiques.