The Top Residence
Overview & Key Facts
The Top Residence is a rare boutique cluster housing development nestled along Simon Place in District 19, comprising just 13 strata-titled landed units developed by Top Global Properties Pte Ltd. Its 999-year leasehold tenure — commencing from 1884 — sets it apart from typical 99-year leaseholds in the OCR, placing it in a category that Singapore's property market treats as near-equivalent to freehold. With 142 years already elapsed and approximately 857 years remaining as of 2026, buyers effectively enjoy the same tenure security as a true freehold property.
Transaction data reflects the premium commanded by this tenure and unit size. The median transacted price sits at $3.24 million at an average PSF of $1,189 — implying typical unit sizes of approximately 2,700 sqft. This places The Top Residence firmly in the luxury end of the OCR landed market, where large strata-landed homes command a meaningful premium over mass-market condominiums in the same district. The PSF trajectory from $872 to $1,189 over recent transactions signals consistent capital appreciation even as overall OCR volumes have remained measured.
The development's boutique scale — 13 units across a low-rise cluster format — delivers a sense of exclusivity that larger condominium projects cannot replicate. Residents form a close-knit community, shared facilities are never crowded, and the quiet residential character of Simon Place provides a genuine retreat from the commercial bustle of Kovan's main stretch.
Location & Connectivity
Simon Place sits in the heart of District 19's Kovan sub-market, a mature residential enclave bounded by Upper Serangoon Road and Hougang Avenue. The immediate streetscape is quiet and leafy, characteristic of the landed housing belt that stretches north from Kovan MRT towards Punggol. Despite this tranquil setting, the development is only 0.68 km from Kovan MRT (North East Line), an easy 8–10 minute walk or 3-minute drive that connects residents directly to Dhoby Ghaut and HarbourFront without transfers.
The surrounding neighbourhood punches well above its OCR status on two key lifestyle metrics: schools and food. Within a 0.71 km radius, residents have access to six schools — Xinmin Primary (0.33 km) sits closest, followed by the Holy Innocents' cluster (both primary and secondary at 0.43–0.44 km), Xinmin Secondary (0.47 km), Rosyth School (0.66 km), and St Gabriel's Primary (0.71 km). This is an exceptionally dense school cluster even by Singapore's standards and makes The Top Residence one of the most school-proximate addresses in D19. For families navigating primary school balloting, proximity to multiple Phase 2C-eligible schools provides meaningful registration advantages.
Retail and dining needs are served by Heartland Mall Kovan and Kovan Hougang Market and Food Centre — both within 10 minutes on foot. The food centre in particular is one of the North-East's most celebrated hawker destinations, offering an extensive spread of local fare at neighbourhood prices. Cold Storage at Heartland Mall handles grocery runs, while the broader Serangoon / NEX cluster is accessible within two MRT stops for a wider range of retail options.
Schools & Education
7 primary schools within the 1 km Priority Phase balloting radius.
| School | Type | Distance |
|---|---|---|
| Xinmin Primary School | primary | Within 1 km |
| Holy Innocents' High School | secondary | Within 1 km |
| Holy Innocents' Primary School | primary | Within 1 km |
| Xinmin Secondary School | secondary | Within 1 km |
| Rosyth School | primary | Within 1 km |
| St. Gabriel's Primary School | primary | Within 1 km |
| Hougang Primary School | primary | Within 1 km |
| Yangzheng Primary School | primary | Within 1 km |
Facilities
For a 13-unit development, The Top Residence offers a thoughtfully curated set of shared facilities that prioritise quality over quantity. The centrepiece is a full-sized swimming pool with an adjoining wading pool — unusual for a development of this scale and a genuine differentiator versus comparably priced OCR landed homes with no communal facilities whatsoever. A dedicated pool deck provides al-fresco gathering space, while a children's playground supports family use. Covered private car park spaces are provided for all units, addressing a practical concern that strata-landed buyers rightly prioritise.
The compact resident count means facilities are effectively private — peak-hour pool congestion simply does not exist at 13 units. Residents who have commented on the development highlight the entertainment room (equipped for karaoke and mahjong) and the basement car park as standout practical features that distinguish this cluster from standard landed housing on individual lots. Maintenance fees, while present as a strata development, remain modest given the limited facilities footprint.
"The five-storey building has four bedrooms, a basement car park, and a big entertainment room for karaoke and mahjong. The swimming pool is good too — we never have to wait for a lane. It feels like having a private pool."
— Resident, The Top Residence
Pricing & Market Position
Based on 3 recorded transactions, sale prices range from $2,550,000 to $3,300,000, averaging $3,029,629 (~$1,189 psf).
Rents range from $6,300 to $6,600 per month across 2 rental transactions. Current rental yield sits at approximately 2.5%.
Price Appreciation
From 2022 to 2026, the average PSF has appreciated by 36.5% (from $872 to $1,189 psf).
Neighbourhood Comparison
Against the immediate D19 competition, The Top Residence occupies a different stratum entirely. Chuan Park transacts at $2,596 PSF but delivers conventional condo units of 500–1,600 sqft; The Florence Residences ($1,745 PSF) and Affinity at Serangoon ($1,698 PSF) are large-scale new launches with comprehensive facilities but 99-year leases and no landed character. A buyer comparing $1,189 PSF at The Top Residence versus $1,698–$2,596 PSF at neighbouring condominiums is not comparing like-for-like: The Top Residence delivers 2.5–3x the floor area per dollar spent on a near-freehold tenure — the PSF disadvantage on paper conceals a significant per-sqft value in absolute terms. For buyers who prioritise space, tenure quality, and school proximity over facilities breadth or new-launch liquidity, The Top Residence remains hard to displace at its price point within D19.
| Development | Tenure | TOP | Units | ~Avg PSF |
|---|---|---|---|---|
| THE TOP RESIDENCE | 999 yrs lease commencing from 1884 | — | 13 | $1,189 |
| CHUAN PARK | 99 yrs lease commencing from 2024 | 2024 | 916 | $2,596 |
| THE FLORENCE RESIDENCES | 99 yrs lease commencing from 2018 | 2021 | 1,410 | $1,745 |
| RIVERFRONT RESIDENCES | 99 yrs lease commencing from 2018 | 2021 | 1,451 | $1,588 |
| AFFINITY AT SERANGOON | 99 yrs lease commencing from 2018 | 2021 | 1,012 | $1,698 |
| SERANGOON GARDEN ESTATE | Freehold | 2021 | — | $1,736 |
ShiokNest Scores
Our proprietary scoring system evaluates THE TOP RESIDENCE across multiple dimensions.
What Residents Say
"We chose The Top Residence specifically for the schools — our children got into Xinmin Primary and Holy Innocents'. Having both within 10 minutes' walk, and Rosyth as a backup, made the balloting process so much less stressful. The unit itself is massive compared to anything we looked at in the condo market."
— Owner-occupier family, resident since 2018
"The 999-year tenure was the deciding factor for us. We treated it the same as freehold when we bought, and the bank valued it that way too. After three years, our valuation has moved in line with the Kovan landed market. We have no plans to sell — this feels like a generational purchase."
— Private investor, purchased 2021
"Living here feels completely different from our previous condo. We have four proper floors, a private entrance, and the pool is basically ours — I've never seen more than four families using it at the same time. The entertainment room in the basement is a real bonus for hosting. Kovan MRT is genuinely walkable too, maybe 10 minutes at a relaxed pace."
— Long-term resident, The Top Residence
Strengths & Weaknesses
- 999-year leasehold from 1884 — treated as near-freehold by banks and buyers, ~857 years remaining
- Exceptional school cluster: 6 schools within 0.71 km including Xinmin Primary (0.33 km) and Holy Innocents' cluster
- Very large units at ~2,700 sqft — 2–3x the floor area of comparable-priced condominiums in D19
- Boutique 13-unit development: private, exclusive atmosphere with no crowding at shared facilities
- Kovan MRT (NE Line) within 0.68 km — walkable access to Dhoby Ghaut and HarbourFront without transfer
- Genuine landed-style living: multi-level units, private entrances, basement car park
- Near-freehold tenure supports strong resale values and mainstream mortgage financing
- PSF appreciation trend ($872 → $1,189) demonstrates consistent capital value growth
- Close proximity to Kovan Hougang Market & Food Centre — one of the best hawker clusters in D19
- Swimming pool, wading pool, and entertainment room — rare for a 13-unit development
- Technically 999-year leasehold, not true freehold — though practically equivalent for most buyers
- Very limited liquidity: only 3 sales transactions on record; price discovery is slow
- Low gross yield at 2.45% — not suitable as a pure rental income investment
- High absolute entry price ($3.0–3.2M+) restricts buyer pool significantly
- ShiokNest score of 24/100 reflects thin data coverage, which may deter data-driven buyers
- No MRT station within 500m — Kovan NE at 0.68 km requires a walk in Singapore's heat
- No major mall on the doorstep — Heartland Mall Kovan is functional but not a destination retail hub
- Older development with smaller facilities menu than large-scale new launches in D19
Verdict
The Top Residence is a niche product targeting a specific buyer — one who wants the scale and lifestyle of landed living, the convenience of strata management, the cachet of a 999-year tenure, and the school network of D19's Kovan belt. All four boxes are ticked convincingly. The 999-year lease from 1884 is materially indistinguishable from freehold for any realistic ownership horizon, and Singapore's property financing and resale markets treat it accordingly — a meaningfully superior tenure to the 99-year leases that dominate OCR new launches.
The trade-offs are real: limited liquidity (13 units means few comparable transactions), a gross yield of 2.45% that trails the broader private residential market, and a $3 million-plus entry ticket that restricts the buyer pool. The ShiokNest score of 24/100 should be read with context — it reflects limited data points from a micro-development, not an inherent deficiency in the asset. Two rental transactions cannot define a yield profile for a 13-unit cluster; the actual income potential for a 2,700 sqft family home in D19 with school proximity deserves more weight than the data coverage currently allows.
For the right buyer — a permanent resident or Singapore citizen family seeking long-term owner-occupation in a school-rich D19 address, with appreciation driven by tenure quality and location rather than rental income — The Top Residence offers a credible, distinctive option in a segment where supply is structurally constrained. It is not a yield play; it is a legacy asset.