The Santorini

Overview & Key Facts

The Santorini is a 597-unit leasehold condominium at 50–64 Tampines Street 86, completed in 2018 and developed by MCC Land (Singapore) Pte Ltd. Designed by AGA Architects — who also designed Sturdee Residences, J Gateway, and TRE Residences — the development comprises 8 blocks of 15 storeys on a 17,103 sqm site, with a distinctive Mediterranean-Greek theme that gives the project its name. The blue-and-white colour scheme, Aegean-inspired water features, and resort-style landscaping create a visual identity that is immediately recognisable along Tampines Street 86 — a deliberate nod to the iconic Greek island of Santorini, where whitewashed buildings cascade above azure waters.

MCC Land is a subsidiary of the Metallurgical Corporation of China (MCC Group), a Fortune Global 500 state-owned enterprise. In Singapore, MCC has built landmarks including Universal Studios at Resorts World Sentosa, and developed residential projects such as The Alps Residences (next door at 101–117 Tampines Street 86), The Poiz Residences, Queens Peak, and Sceneca Residence. The land for The Santorini was acquired at $562 psf per GFA in July 2013, and the 99-year lease commenced on 16 October 2013. MCC earned a BCA CONQUAS Star Award for construction quality, though the company’s track record has drawn mixed sentiment after URA issued a no-sale licence for Sceneca Residence over concerns about satisfactory completion of past projects. The Santorini itself has not drawn notable construction quality complaints.

The numbers paint a picture of quiet, steady performance. Average PSF has climbed from roughly $1,253 in 2022 to $1,373 in 2023, $1,397 in 2024, and $1,485 currently — a cumulative 18.5% gain over three years, with the steepest jump between 2022 and 2023. With 201 resale transactions, 465 rental contracts, and a 2.89% gross yield, The Santorini has established respectable liquidity for a 597-unit development in a location that most agents describe as “quiet.” The highest recorded transaction was $1,598 psf in April 2025 for a 4-bedroom dual-key unit, while recent sales range from $1,328 to $1,598 psf. The profitability score of 64/100 and investment score of 60/100 reflect an honest assessment: this is not a capital appreciation rocket, but it has rewarded patient holders with consistent positive returns in a market segment where affordability is the primary draw.

Location & Connectivity

Let’s address the elephant in the room: Tampines West MRT (DTL) is 1.36 km away. That is a 17–19 minute walk — too far for daily commuting on foot, and firmly in the “need a bus, bicycle, or car” category. This is the single biggest compromise buyers make at The Santorini, and it is reflected in both the walkability score of 33/100 and the pricing discount relative to better-connected Tampines condos. Bus services along Tampines Avenue 10 connect to Tampines MRT interchange (EWL + DTL) within 10–15 minutes, and bus stops are accessible from both the front and rear of the development — but the honest MRT accessibility rating here is 3–4 out of 10. For MRT-dependent commuters, this matters significantly.

The compensating strengths, however, are real. Drivers reach the Tampines Expressway (TPE) and Pan Island Expressway (PIE) within minutes. Changi Airport is approximately 10–12 minutes by car. The Tampines Regional Centre — one of Singapore’s four regional centres — is a short drive away, with Changi Business Park and the upcoming Changi Region development corridor providing employment nodes that reduce the need for CBD commutes. The long-term upside is the Paya Lebar Air Base (PLAB) redevelopment, an ultra-large site located very close to The Santorini that will, over the coming decades, bring substantial new amenities, parks, connectivity, and commercial spaces. Residents will also benefit from the upcoming Cross Island Line and Thomson-East Coast Line extensions. For two-car households or remote workers, the MRT distance may prove largely irrelevant.

Daily amenities are available across the road in the HDB enclave along Tampines Street 86, including coffee shops, a clinic, and a hair salon — genuine heartland convenience within a 3-minute walk. Sheng Siong supermarket, Giant Hypermarket, IKEA, and Courts Megastore are a short drive away. For major retail, Our Tampines Hub (800-seat hawker centre, five-storey regional library, swimming complex) is approximately 2 km away. Tampines Mall, Century Square, and Tampines 1 are all within the Tampines Central cluster — reachable in 5–8 minutes by car or bus.

The nature surroundings are a genuine lifestyle differentiator. The Santorini overlooks Tampines Quarry — a former quarry with striking turquoise waters that provides a visual amenity few Tampines condos can match. The development’s U-shaped courtyard plan means most units enjoy quarry or water views. Bedok Reservoir Park is approximately 1 km away, offering jogging paths, fishing, kayaking, and wakeboarding. A planned 10-hectare Quarry Park will further enhance the waterfront setting. Tampines Eco Green, a curated wetland habitat, is 2 km distant and connected via the Park Connector Network. The trade-off is clear: you sacrifice MRT proximity for quarry views, nature access, and school proximity at a price point that few Tampines condos can match.

Schools & Education

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

Facilities

The Santorini’s facilities lean heavily into the Greek island resort theme — and for a mass-market development, it delivers the concept with surprising conviction. The centrepiece is a 50-metre lap pool flanked by an aqua gym, kid’s pool, and a series of water features branded as “Aegean Splashes.” The facilities deck is elevated 4 metres above road level, which means units from the 2nd floor onwards enjoy unobstructed water views — either the pool below or the Tampines Quarry beyond. This elevated deck is a smart architectural move that maximises the visual impact of the quarry setting.

Dry facilities include a well-equipped indoor gymnasium, a tennis court, a fitness zone, children’s playground, alfresco BBQ pavilions, a grand lawn, and drift-away hammocks scattered among the landscaping. The sunken pavilion near the pool offers a shaded relaxation space after swimming. The Aegean arrival — the development’s entrance — sets the Mediterranean tone with white-rendered walls and water elements. Sky terraces connecting blocks to blocks provide elevated communal spaces where residents can enjoy views of the quarry and surrounding greenery.

“The pools are well-maintained and not heavily utilized. It is conveniently situated within walking distance of numerous amenities. The pools and facilities are lovely, with bus stops accessible from both the front and back.”

— Resident review via PropertyGuru

A communal roof deck accessible from all blocks is a standout feature — offering sweeping panoramic views that are particularly striking at sunset. Penthouses come with private communal roof terraces. The lounge deck and reflective pool add to the resort ambience, while the verdure berms and landscaping maintain the Mediterranean garden aesthetic. At 597 units across 8 blocks, the facility-to-unit ratio is reasonable. The pool area is notably uncrowded according to residents — a genuine quality-of-life advantage over mega-developments like neighbouring Treasure at Tampines, which packs 2,203 units. The absence of a dedicated air-conditioned clubhouse is a gap; the function room partially compensates but is modest for a development of this size.

Unit Sizes & Layout

The Santorini offers 597 units across 8 blocks with one of the widest unit mixes in Tampines — 12 distinct configuration types spanning 1-bedroom apartments to 5-bedroom penthouses, including dual-key variants and rare garden duplexes. Unit sizes range from 463 sqft to 1,991 sqft, providing genuine choice across budgets and household sizes.

The breakdown: 165 one-bedrooms (463–527 sqft), 127 two-bedrooms (721–775 sqft), 45 two-bedroom dual-key units (904–915 sqft), 126 three-bedrooms (915–1,184 sqft), 80 three-bedroom dual-key units (1,130–1,259 sqft), 14 four-bedrooms (1,238–1,259 sqft), 13 four-bedroom dual-key units (1,421 sqft), 14 five-bedrooms (1,367–1,378 sqft), 5 three-bedroom garden duplexes (1,787 sqft), 1 four-bedroom garden duplex (1,991 sqft), 4 four-bedroom penthouses (1,313–1,528 sqft), and 3 five-bedroom penthouses (1,572–1,604 sqft). More than a third of units exceed 1,100 sqft, making The Santorini unusually family-friendly for a mass-market development.

The dual-key units deserve particular attention. With 138 dual-key configurations across 2-bed, 3-bed, and 4-bed types (23% of total stock), The Santorini offers one of the highest dual-key ratios in Tampines. These units allow owners to live in the main unit while renting the subsidiary studio — an arrangement that generates supplemental income and is particularly attractive to multi-generational families seeking semi-independence under one roof. The 4-bedroom dual-key at 1,421 sqft is the most popular investment configuration, commanding the development’s highest PSF at recent transactions.

The garden duplexes are The Santorini’s most distinctive offering. At 1,787 sqft (3-bed) and 1,991 sqft (4-bed), these ground-floor units come with private garden patios — a rarity in high-rise living. Only 6 exist in the entire development, making them scarce and highly sought-after by families who value outdoor space. The penthouses (1,313–1,604 sqft) offer roof terraces with quarry views — arguably the best vantage point in the development. Higher-floor units in north-facing stacks command a modest premium for unobstructed views toward the quarry and low-rise surroundings.

Pricing & Market Position

Across 215 recorded transactions (all-time), sale prices range from $580,000 to $2,270,000, averaging $1,157,857.

Over the last 12 months, transactions averaged $1,492 psf.

Rents range from $1,465 to $7,600 per month across 496 rental transactions. Current rental yield sits at approximately 2.9%.

Rental Yield by Bedroom Type

Blended yield hides the spread between unit sizes — smaller units at THE SANTORINI 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 28% (from $1,172 to $1,500 psf).

Neighbourhood Comparison

The most direct comparison is The Alps Residences ($1,518 PSF), located on the same street at 101–117 Tampines Street 86. Both are developed by MCC Land, share nearly identical MRT distances (1.36 km vs 1.41 km to Tampines West), and target the same buyer demographic. The Alps is marginally newer (TOP 2019 vs 2018), slightly larger (626 vs 597 units), and trades at a $33/PSF premium. The Alps achieves a stronger rental yield at 3.52% versus The Santorini’s 2.89%, partly due to its higher proportion of small units. The key differentiation is aesthetic: The Santorini’s Greek Mediterranean theme and quarry views versus The Alps’ Swiss Alpine concept. For buyers choosing between the two, it comes down to view preference (quarry vs inland), unit availability, and whether the slightly higher yield at Alps justifies the premium. Both developments share the same fundamental strengths and weaknesses.

Treasure at Tampines ($1,584 PSF) is the 2,203-unit mega-development by Sim Lian Group completed in 2023. Treasure offers 128 facilities including 13 pools — a scale that The Santorini cannot approach. Treasure is marginally closer to Simei MRT, though neither development has genuinely convenient MRT access. At $99/PSF more, Treasure offers newer finishes and overwhelming amenity breadth, but at the cost of sharing common spaces with 2,200+ households. The Santorini’s 597 units deliver a dramatically quieter living environment with uncrowded pools — a quality-of-life advantage that some buyers value more than facility count. The quarry views are an amenity Treasure simply cannot replicate.

Aurelle of Tampines ($1,769 PSF) is the EC-turned-privatised option. At $284/PSF above The Santorini, Aurelle benefits from a more central Tampines location and better connectivity. However, as a former Executive Condominium, its resale restrictions during the first 5–10 years limited early liquidity. The Santorini competes on absolute affordability and the unique quarry view proposition rather than location prestige.

Pasir Ris 8 ($1,678 PSF) offers an integrated development directly above Pasir Ris MRT — the kind of MRT connectivity The Santorini completely lacks. At $193/PSF more, Pasir Ris 8 commands a justified premium for its transport-integrated positioning and mixed-use convenience. For MRT-dependent buyers, Pasir Ris 8 is the clearly superior choice. For buyers who prioritise space, views, and affordable quantum over MRT access, The Santorini’s larger units and quarry setting offer a compelling alternative at a meaningful discount. The developments serve fundamentally different buyer profiles, and a direct comparison highlights The Santorini’s niche: affordable, tranquil, view-rich living for those willing to trade connectivity for character.

Lease Decay Analysis

The 99-year lease runs from 2013, meaning approximately 13 years have already been consumed. Roughly 86 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 ~76 years remaining, which is still very bankable. The risk profile changes for longer holds.

ShiokNest Scores

Our proprietary scoring system evaluates THE SANTORINI across multiple dimensions.

What Residents Say

“Amazing view from my unit every sunset, been living here for the past 7 years and I have been enjoying every single day. No where in Singapore you are able to find such a good view, good layout and scenery. My neighbours are amazing, it is away from the traffic and it is severely underpriced.”

— Resident review via PropertyGuru

“It is nicely designed condo with good facilities and I guess it still undervalued.”

— Resident review via EdgeProp

“The pools are well-maintained and not heavily utilized. The pools and facilities are lovely, with bus stops accessible from both the front and back. It’s close to Temasek Polytechnic, a petrol station, a hypermarket, food court, and Springfield Secondary School.”

— Resident review via PropertyGuru

“Having stayed in HDB for over 10 years prior staying here, I find the floor quality scores lower than that for HDB floor.”

— Resident review via PropertyGuru

The resident feedback at The Santorini skews overwhelmingly positive, with a 4.1/5.0 rating on PropertyGuru. The dominant theme is the quarry view — multiple residents describe it as “amazing,” “beautiful,” and “nowhere else in Singapore.” The sunset views from west-facing and north-facing stacks draw particular praise. Several residents independently describe The Santorini as “undervalued” or “underpriced” — an unusual sentiment that reflects genuine resident satisfaction with value received. The resort-like landscaping, uncrowded pools, and tranquil ambience are consistently cited as quality-of-life highlights.

The negative feedback clusters around two areas. First, interior build quality: the flooring comparison to HDB standards is a pointed criticism, and while individual, it aligns with the general expectation management needed for MCC Land’s mass-market finishes. Second, the development’s quietness can feel excessive — one resident described it as “a place that does not seem receptive to diversity and vibrancy,” advising families with young children to “reassess suitability” given that the expected noise discipline is “stricter than a library.” Security interactions have also drawn occasional complaints about rigidity. Prospective buyers should visit during both weekday and weekend hours to gauge whether The Santorini’s peaceful character aligns with their lifestyle — for some it is a sanctuary, for others it may feel overly subdued.

Strengths & Weaknesses

Verdict

The Santorini’s investment case rests on affordable quantum and steady, if unspectacular, appreciation. At an average PSF of $1,485, it sits meaningfully below Treasure at Tampines ($1,584 PSF), well below Aurelle of Tampines ($1,769 PSF), and substantially below Pasir Ris 8 ($1,678 PSF). That discount is earned by the MRT distance — and equally, it creates a price floor that protects downside. Buyers paying $1,485 PSF for a Tampines condo with quarry views are not buying at a premium that needs unwinding; they are buying at a level where the margin of safety is real.

The PSF trajectory tells a story of accelerating recovery: $1,253 in 2022, jumping to $1,373 in 2023, then $1,397 in 2024, reaching $1,519 in recent data — a 21% gain over three years. The steepest rise between 2022 and 2023 reflects the broader post-COVID OCR rally, while the more moderate gains since suggest the development is finding its natural price ceiling. The absolute quantum remains highly accessible: a 1-bedroom from approximately $680K, a 2-bedroom from $1.0M, and a 3-bedroom from $1.3M. For HDB upgraders in Tampines, these entry points are among the most competitive in the district — particularly for the larger 3-bed and dual-key configurations where The Santorini offers genuine space-per-dollar value.

The rental market is solid but not exceptional. With 465 recorded rental transactions and a 2.89% gross yield at $2,850 average rent, The Santorini performs adequately for an OCR leasehold condo. The dual-key units are the rental story here: owners who rent the subsidiary studio while occupying the main unit effectively subsidise their mortgage — a strategy that lifts the effective yield well above the headline 2.89%. Proximity to Changi Business Park, Changi Airport employment zones, and Temasek Polytechnic drives structural tenant demand, particularly for the 1-bedroom and 2-bedroom units popular with young professionals and couples.

The 99-year lease commenced in 2013, leaving approximately 86 years. This is comfortable for the next two to three decades of ownership, with no CPF or lending restrictions likely to bite during a typical 10–15 year holding period. The long-term wildcard is the Paya Lebar Air Base redevelopment — when it materialises over the next 10–20 years, the transformation of the surrounding area could meaningfully lift values for condos in this pocket of Tampines. The Santorini is well-positioned to capture that upside, sitting at a price point where there is room to run. The Greek theme is charming, the quarry views are genuinely special, and the fundamentals — affordable entry, consistent appreciation, and a unique visual identity — make this a pragmatic choice for value-conscious buyers who can live with the MRT compromise.