The Palette

Overview & Key Facts

The Palette is an 892-unit leasehold condominium developed by Hong Realty (Private) Limited — a subsidiary of the Hong Leong Group — in partnership with City Developments Limited (CDL). Located at Pasir Ris Grove in District 18, the development was completed in 2016 on a 99-year lease commencing 2010, leaving approximately 83 years remaining. Designed by Architects 61, The Palette comprises 13 blocks of 14 storeys, arranged in a distinctive interlocking wave formation that optimises cross-ventilation and ensures panoramic views from every unit.

The Palette is part of the mammoth Pasir Ris Grove private residential enclave — five condominiums (Livia, NV Residences, The Palette, D’Nest, and Coco Palms) all developed by Hong Leong/CDL, collectively housing over 4,100 units. This makes the enclave one of the largest private residential clusters in Singapore’s east. The shared developer heritage means consistent build quality and coordinated estate management, though it also means ample resale supply competing for the same buyer pool.

At an average of $1,516 psf with 204 resale transactions, a median rent of $3,564, and a gross rental yield of 3.32%, The Palette occupies a solid mass-market position in the OCR. PSF appreciation has been steady — climbing from $1,231 to a peak of $1,525 before a slight recent softening to $1,500. The Hong Leong/CDL pedigree provides reassurance on build quality and estate maintenance, while the Pasir Ris lifestyle — beach, Downtown East entertainment, and abundant parkland — offers a quality of life that inner-city developments simply cannot match at this price point. The key watch item is the 99-year lease: at 83 years remaining today, the development will cross the critical 75-year CPF threshold in approximately 8 years (2034), which will begin to constrain financing options for future buyers.

Location & Connectivity

The Palette sits within the Pasir Ris Grove enclave, a quiet private-residential pocket buffered from the main arterial roads by neighbouring condominiums. The immediate surroundings are exclusively residential — D’Nest to the south, NV Residences and Livia to the north, and Coco Palms further along the grove. This creates a peaceful, insulated environment, though it also means a longer walk to the MRT and main commercial areas compared to developments on Pasir Ris Drive 1.

Daily amenities are a short drive or bus ride away. White Sands shopping mall sits adjacent to Pasir Ris MRT, offering NTUC FairPrice, a food court, banks, clinics, and essential retail. Across the road, Pasir Ris Central Hawker Centre serves affordable local food. For larger shopping trips, the IKEA Tampines, Giant Hypermarket, and Courts megastore cluster is a quick drive down Pasir Ris Drive 1. Sheng Siong Supermarket on Pasir Ris Drive 8 is the closest option for daily grocery runs.

The Pasir Ris lifestyle is The Palette’s underappreciated asset. Pasir Ris Park — with its mangrove boardwalk, beach, BBQ pits, and cycling trails — is approximately 1.5 km away. NTUC Downtown East, featuring Wild Wild Wet waterpark, bowling, cinemas, and chalet accommodation, is within a 5-minute drive. Pasir Ris is the only planning area in Singapore where the town centre sits within 500 metres of coastal parkland — a unique positioning that resonates strongly with families and outdoor enthusiasts.

The school catchment includes White Sands Primary School (580 m) and Pasir Ris Secondary (750 m), both within comfortable distance. Elias Park Primary and Coral Primary are also within the 1 km priority-enrolment radius. For secondary options, Pasir Ris Crest Secondary and Meridian Secondary serve the wider estate.

Schools & Education

3 primary schools within the 1 km Priority Phase balloting radius.

Facilities

For an 892-unit development, The Palette delivers a generous and well-designed facilities suite. The centrepiece is a trio of infinity-edge swimming pools — a main 50-metre lap pool, a family leisure pool, and a children’s wading pool — complemented by jacuzzi spas and a cascade water feature. The aquatic provision is well above average for a mass-market OCR development and benefits from the north-south block orientation that provides afternoon shade across the pool deck.

The clubhouse anchors the social facilities: a well-equipped gymnasium, function room for events, and a reading lounge. Outdoors, residents have access to a tennis court, BBQ pavilions scattered across landscaped gardens, a children’s adventure playground, a reflexology path, and hammock alcoves nestled among the mature planting. The development’s landscape design — featuring cascading pools, a rustic eco pond, and scenic elevated walkways — creates a resort-like atmosphere that elevates the daily living experience. An EV charging area provides practical future-proofing as electric vehicle adoption accelerates.

“Massive private complex with well maintained facilities. 8 years living here as of 2024 and the upkeep has been consistently good. The pools are always clean, the gardens are well tended, and security is responsive. For a large development, it never feels overcrowded at the facilities.”

— Long-term owner-occupier, 8 years, (PropertyGuru review)

At 892 units sharing these facilities, utilisation is higher than boutique developments but manageable — residents report that the three-pool design effectively distributes swimmers, and BBQ pits can be booked without excessive waiting even on weekends. The two-level basement car park provides one lot per unit, with visitor parking that can be tight during peak periods. MCST maintenance has been well-regarded, with the Hong Leong/CDL managing agent maintaining a high standard of upkeep across the common areas, landscaping, and mechanical systems.

Unit Sizes & Layout

The Palette offers nine unit configurations spanning 495 to 2,562 square feet: 1-bedroom (495 sqft), 2-bedroom (657–732 sqft), 2-bedroom + study (786 sqft), 3-bedroom (915–1,076 sqft), 3-bedroom + study (1,130 sqft), 4-bedroom (1,292–1,356 sqft), 4-bedroom dual key (1,292 sqft), 4-bedroom + study penthouse (2,228 sqft), and 5-bedroom penthouse (2,562 sqft). The breadth of this unit mix — from compact singles-friendly 1-bedders to expansive penthouses — is a hallmark of Hong Leong’s mass-market approach and makes The Palette accessible to a wide range of household profiles.

The defining architectural feature is the interlocking wave formation of the 13 blocks, which creates generous block-to-block spacing and ensures that most units enjoy unobstructed views and natural cross-ventilation. The north-south orientation of the main facades maximises exposure to prevailing breezes while minimising direct afternoon sun — a meaningful advantage for energy efficiency and indoor comfort in Singapore’s equatorial climate. Layouts are functional with minimal wasted corridor space; kitchens in 3-bedroom units and above are enclosed by default, which is practical for families who cook regularly.

The 4-bedroom dual-key configuration deserves specific mention: it allows owners to partition the unit into a main 3-bedroom apartment and a separate studio, each with independent access. This format is popular with multi-generational families and investors who rent out one portion while occupying the other — a configuration that the strong rental market in Pasir Ris (919 rental transactions recorded) readily supports.

Pricing & Market Position

Across 225 recorded transactions (all-time), sale prices range from $622,000 to $2,890,000, averaging $1,345,639.

Over the last 12 months, transactions averaged $1,546 psf.

Rents range from $1,500 to $8,000 per month across 977 rental transactions. Current rental yield sits at approximately 3.2%.

Rental Yield by Bedroom Type

Blended yield hides the spread between unit sizes — smaller units at THE PALETTE typically rent harder per dollar of purchase price. The final column shows monthly rent per $100,000 invested, so unit sizes compare on equal capital:

Price Appreciation

From 2021 to 2026, the average PSF has appreciated by 40.6% (from $1,111 to $1,562 psf).

Neighbourhood Comparison

Within the Pasir Ris corridor, The Palette ($1,516 psf, 99-year from 2010, ~83 years remaining) competes with three primary alternatives. Pasir Ris 8 ($1,678 psf, 99-year from 2019) is the newest integrated development in the area, directly connected to Pasir Ris MRT via a covered walkway and integrated with a retail mall. It commands a 10.7% PSF premium over The Palette, justified by its MRT integration, newer lease (94 years remaining), and mixed-use convenience. For buyers who prioritise transport access above all else, Pasir Ris 8 is the obvious choice — but at a meaningful price premium.

Treasure at Tampines ($1,584 psf, 99-year from 2019) is Singapore’s largest condominium with 2,203 units, offering unmatched facility scale (128 facilities including 6 pools) and proximity to Simei MRT. At a 4.5% premium to The Palette, Treasure offers a newer lease and superior MRT access, but the sheer unit count creates intense resale competition and potential capital appreciation drag. Both mega-developments share the challenge of supply-side pricing pressure.

Parktown Residence ($2,369 psf, 99-year from 2023) represents the premium new-launch tier in Tampines, commanding a 56% PSF premium over The Palette. The price gap reflects brand-new finishes, a full 99-year lease runway, and direct integration with Tampines North MRT on the Cross Island Line. For buyers with the budget, Parktown is the future-proof option — but The Palette offers a comparable lifestyle at dramatically lower absolute cost, with the trade-off of a shorter lease tail.

Within the Pasir Ris Grove enclave itself, The Palette competes with its siblings: D’Nest (912 units, slightly newer), Coco Palms (944 units, closest to MRT), NV Residences (642 units), and Livia (724 units, oldest). Coco Palms generally commands the highest PSF within the enclave due to its proximity to the MRT, while Livia trades at the lowest. The Palette sits in the middle, offering a balance of facilities, age, and pricing.

Lease Decay Analysis

The 99-year lease runs from 2010, meaning approximately 16 years have already been consumed. Roughly 83 years remain — still comfortably within the range where most banks will offer full financing without restrictions.

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 ~73 years remaining, which is still very bankable. The risk profile changes for longer holds.

ShiokNest Scores

Our proprietary scoring system evaluates THE PALETTE across multiple dimensions.

What Residents Say

“I’ve lived here for a year and enjoyed it very much. The condo has beautiful greenery and very friendly neighbours. The pools are great — three different areas so you always find space. We walk to Downtown East on weekends with the kids for Wild Wild Wet and bowling. Pasir Ris Park is a short cycle away for the mangrove trail. It’s a completely different lifestyle from when we lived in Toa Payoh.”

— Owner-occupier, three-bedroom + study, since 2023 (PropertyGuru)

“Well designed and constructed by a reputable developer. Facilities are more than adequate and in some cases premium despite catering to the mass market. The eco pond and elevated walkways make evening strolls really pleasant. My only gripe is the walk to MRT — 10 minutes in the rain without shelter is not fun, but the shuttle bus helps. Waiting for the Cross Island Line to change the game.”

— Owner-occupier, four-bedroom, since 2017 (99.co review)

“Bought a 2-bedder here as an investment in 2020 at around $1,250 psf. Tenanted within 10 days at $2,800 for a 2-bed — now getting $3,200 on renewal. The Changi airport and business park crowd drives consistent rental demand. Yield is decent at around 3.3%. Maintenance is well run by the MCST. The main risk I see is the lease — already down to 83 years and some banks are starting to ask questions for 30-year loans.”

— Investor-owner, two-bedroom, since 2020 (EdgeProp forum)

Strengths & Weaknesses

Verdict

The Palette delivers what Hong Leong/CDL do best: a large-scale, well-built, family-oriented development at mass-market pricing in a lifestyle-rich location. At $1,516 psf, it trades below newer competitors like Pasir Ris 8 ($1,678 psf) and substantially below Treasure at Tampines ($1,584 psf, 2,203 units) and the premium Parktown Residence ($2,369 psf). The 3.32% gross yield provides acceptable rental income, supported by strong leasing demand (919 rental contracts) from the Changi Business Park and Changi Airport workforce.

The lifestyle proposition is genuine and underappreciated. Pasir Ris Park, Downtown East, Wild Wild Wet, and the coastal boardwalk create a weekend environment that inner-city condos cannot replicate. For families with young children, the combination of beach access, water parks, and nature trails within a 10-minute radius is exceptional. White Sands mall and the Sheng Siong cluster cover daily needs adequately, and the Cross Island Line interchange (2030) will materially improve connectivity and likely provide a floor under property values.

The honest constraints: the 8–13 minute unsheltered walk to Pasir Ris MRT is a daily inconvenience, the absence of bus service on Pasir Ris Grove compounds this, and the 83-year remaining lease means CPF usage restrictions will begin tightening from approximately 2034 when the lease drops below 75 years. This lease timeline is the single most important consideration for prospective buyers. Capital appreciation will be modest given abundant competing supply within the same enclave (4,100+ units from the same developer family) and the OCR market dynamics. The recent slight PSF softening from $1,525 to $1,500 may reflect early market pricing of the approaching lease threshold.

Buy The Palette for lifestyle and rental income, not for capital gains. It is an excellent home for families who value the Pasir Ris way of life, a decent yield play for investors targeting the eastern workforce catchment, and a poor fit for buyers who need rapid appreciation or MRT-doorstep convenience. The Cross Island Line will help, but the lease clock is the structural constraint that will increasingly define this development’s trajectory.