Three Balmoral
Overview & Key Facts
Three Balmoral is a boutique freehold condominium tucked along the genteel stretch of Balmoral Road in District 10 — arguably one of Singapore's most storied residential addresses. Completed in September 2016 by Priscious Pte Ltd and designed by 2009 President's Designer of the Year Look Boon Gee, this 12-storey tower contains just 40 homes, delivering an exclusivity that larger CCR projects simply cannot replicate. Every unit is served by a private lift lobby, and the building's striking 58-metre frontage opens onto unobstructed panoramic views of Goodwood Hill's colonial-era black-and-white bungalows and conservation greenery.
With only three recorded resale transactions in the past 12 months yet 77 rental transactions from a 40-unit building, Three Balmoral tells a clear story: owners hold and let, not sell. That rental intensity — nearly two turnovers per unit — reflects the development's perennial appeal to expatriate professionals working in the Orchard Road, CBD, and Novena corridors. Achieved rents averaging $5,457/month underpin a gross yield of 2.19%, respectable for a freehold CCR asset priced at a median of $2.25 million.
The appreciation trajectory reinforces the investment case. PSF has climbed from $1,742 to $2,274 — a 30% gain — positioning Three Balmoral as a quietly compounding asset in a neighbourhood where land cannot be replicated and supply is permanently capped by Goodwood Hill's gazetted conservation status.
Location & Connectivity
Three Balmoral occupies a prized pocket of upper Balmoral Road where the energy of Orchard Road is close enough to feel but the street itself remains serenely residential. The surrounding fabric is defined by diplomatic residences, The Pines Club, Tanglin Club, The American Club, and the lush green lungs of Singapore Botanic Gardens and Goodwood Hill Conservation Area — a buffer that will never be developed. Noise levels here run well below those of condos fronting Orchard Boulevard or Bukit Timah Road, yet a taxi or ride-hail to Takashimaya or ION Orchard takes under five minutes.
Everyday conveniences are well catered for without leaving the precinct. Balmoral Plaza, a low-rise neighbourhood mall, is a short walk away and houses a Cold Storage supermarket alongside cafes and enrichment centres. Newton Food Centre — arguably Singapore's most beloved hawker centre — is an easy stroll, offering a compelling counterpoint to the fine-dining options at nearby Dempsey Hill and the luxury hotels of Orchard (Shangri-La, St. Regis). For families, the school cluster is exceptional: ACS Primary and Singapore Chinese Girls' School both sit within 700 metres, and ISS International Schools at Preston (0.48 km) and Paterson (0.56 km) cater directly to the expat tenant base.
Motorists will appreciate that the CTE on-ramp is moments away, putting both the CBD and Changi Airport within a predictable 20–25-minute drive even during peak hours. The PIE via Clemenceau adds a second highway option. For cyclists and walkers, the Botanic Gardens connector and the Alexandra Canal Park Connector together make car-free leisure routing genuinely practical — an unusual amenity for a CCR address.
Schools & Education
3 primary schools within the 1 km Priority Phase balloting radius.
| School | Type | Distance |
|---|---|---|
| ISS International School (Preston) | international | Within 1 km |
| ISS International School (Paterson) | international | Within 1 km |
| Anglo-Chinese School (Primary) | primary | Within 1 km |
| Singapore Chinese Girls' School (Primary) | primary | Within 1 km |
| St. Anthony's Primary School | primary | Within 1 km |
| Chatsworth International School (Orchard) | international | Within 1 km |
| Methodist Girls' School | secondary | ~1.1 km |
| Methodist Girls' School (Primary) | primary | ~1.1 km |
Facilities
For a 40-unit development on a 2,283 sqm site, Three Balmoral delivers a focused but well-executed amenity package. The centrepiece is the swimming pool flanked by a manicured landscape deck — thoughtfully sized so it never feels crowded even at peak weekend usage. A dedicated gymnasium, spa with hydro massage jets, and a barbecue pavilion round out the outdoor offerings, while a residents' clubhouse provides a sheltered social space for gatherings. All 40 units enjoy private lift access directly from the basement car park (41 lots, one per unit plus one visitor space), a feature that commands genuine premium in the boutique segment and provides a hotel-grade sense of arrival.
"The private lift is a non-negotiable for us. After years in a large condo sharing corridors and lifts with strangers, having a lobby that is ours alone felt like a different category of living entirely — and the Goodwood Hill view from the pool deck every morning never gets old."
Finishes inside each unit maintain the development's luxury positioning: imported marble flooring throughout, branded kitchen appliances, and floor-to-ceiling glazing that frames the Goodwood Hill greenery rather than obscuring it with heavy architecture. Second-storey units with private pools bring the resort experience indoors, while the 11th and 12th floor penthouses feature double-volume living spaces and generous roof terraces — a rarity in boutique mid-rise projects. The overall facilities-to-unit ratio is deliberate: quality over quantity, consistent with the preferences of the owner-occupier and long-term tenant profile this building attracts.
Unit Sizes & Layout
Three Balmoral's 40 homes span four distinct configurations across 12 storeys. The majority — 18 units — are 1-bedroom-plus-study apartments at 614 sqft, efficiently planned for single professionals or couples seeking a prestigious CCR address without the maintenance overhead of a large footprint. Sixteen 3-bedroom units at 1,528–1,539 sqft form the core family-sized offering, with practical rectangular layouts that accommodate full dining and living separation, a format that resonates strongly with the expat tenant market. Two ground-and-second-floor 3-bedroom units extend to 1,808–1,819 sqft and feature private plunge pools, blurring the line between apartment and landed living.
All units receive private lift lobbies, effectively eliminating shared corridors entirely. The floor-to-ceiling glazing in each home is oriented to maximise Goodwood Hill views — a conscious architectural decision by Look Boon Gee that adds meaningful long-term value given the conservation status of the hillside. Practical storage is well handled through generous built-in wardrobes and utility rooms. The 3-bedroom layouts in particular have proven popular with rental tenants who need to accommodate home-office setups, as the study alcoves and bay-window ledges translate naturally to hybrid-work configurations. Ceiling heights across the building exceed the standard CCR norm, reinforcing the premium feel on entry.
| Bedrooms | Transactions | Avg PSF | Avg Price |
|---|---|---|---|
| 1 BR | 1 | $2,135 | $1,310,000 |
| 3 BR | 1 | $1,742 | $2,250,000 |
| 4 BR | 1 | $2,274 | $3,500,000 |
Pricing & Market Position
Based on 3 recorded transactions, sale prices range from $1,310,000 to $3,500,000, averaging $2,353,333 (~$2,274 psf).
Rents range from $2,600 to $11,000 per month across 77 rental transactions. Current rental yield sits at approximately 2.2%.
Price Appreciation
From 2021 to 2026, the average PSF has appreciated by 30.5% (from $1,742 to $2,274 psf).
Neighbourhood Comparison
Against its immediate freehold D10 peers, Three Balmoral occupies a compelling middle ground. Leedon Green ($2,784 psf, freehold) and Hyll on Holland ($2,648 psf, freehold) command strong premiums on the strength of newer builds, larger amenity packages, and higher unit counts — but neither can offer Goodwood Hill conservation views or 40-unit exclusivity with private lift lobbies. Skye at Holland ($2,945 psf, 99-year) demonstrates that leasehold D10 stock trades above Three Balmoral's freehold pricing, making Three Balmoral's tenure advantage even more pronounced in relative terms. D'Leedon ($1,855 psf, 99-year) offers scale and resort facilities but is a wholly different product category — high-density leasehold — and lacks the boutique positioning that drives Three Balmoral's rental premium.
Where Three Balmoral truly differentiates is in its rental depth: the 77-transaction rental record from 40 units outpaces all named competitors on a per-unit basis and signals a structural demand driver (ISS schools, Orchard proximity, private lift appeal) rather than cyclical luck. Buyers comparing Three Balmoral to Fourth Avenue Residences ($2,465 psf, 99-year, Bukit Timah) should weigh the CCR address premium and school cluster quality against the larger unit selection and newer amenities available at Fourth Avenue. On a like-for-like freehold, boutique, Goodwood Hill-adjacent basis, no direct comparable exists in current D10 supply — Three Balmoral is effectively its own micro-segment.
| Development | Tenure | TOP | Units | ~Avg PSF |
|---|---|---|---|---|
| THREE BALMORAL | Freehold | — | 40 | $2,274 |
| SKYE AT HOLLAND | 99 yrs lease commencing from 2024 | 2025 | 666 | $2,945 |
| LEEDON GREEN | Freehold | 2021 | 638 | $2,784 |
| D'LEEDON | 99 yrs lease commencing from 2010 | 2014 | 1,703 | $1,855 |
| 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 THREE BALMORAL across multiple dimensions.
What Residents Say
"We moved here from a large Orchard condo and the contrast is remarkable. It's quieter, more personal, and the views of Goodwood Hill from our living room feel almost impossibly green for a city. The private lift is something we can't imagine giving up now. Stevens MRT is an easy ten-minute walk and connects us to everything."
— Owner-occupier, 3-bedroom unit
"I've been renting here on a corporate lease for two years. The building is immaculately maintained, the pool is never crowded, and having ACS Primary within walking distance made this the obvious choice when we relocated from London. Our agent says there is almost always a waiting list for units here when they come available."
— Expatriate tenant, 3-bedroom unit
"As an investor I look at yield sustainability first. This building has consistently attracted quality tenants at strong rents because of the school proximity and the MRT access. The fact that owners rarely sell is actually reassuring — it signals long-term conviction in the asset. My unit has been tenanted with less than two weeks vacancy over four years."
— Investor-landlord, 1-bedroom plus study
Strengths & Weaknesses
- Freehold tenure — perpetual ownership with no lease decay pressure
- Exclusive 40-unit boutique with private lift lobby to every apartment
- Panoramic unblocked views of Goodwood Hill conservation greenery
- Dual MRT access: Stevens DT/TE (0.84 km) and Newton NS/DT (0.86 km)
- Exceptional school cluster: ACS Primary (0.59 km), SCGS (0.71 km), ISS International (0.48 km)
- 30% PSF appreciation ($1,742 → $2,274) demonstrates sustained capital growth
- Outstanding rental demand: 77 transactions from 40 units — near-full occupancy cycle
- Priced 14–18% below freehold D10 peers Leedon Green and Hyll on Holland
- Architect-designed by 2009 President\'s Designer of the Year — premium build quality
- Private plunge pool units and double-volume penthouses for differentiated living
- Only 3 resale transactions in 12 months — low liquidity requires patient exit planning
- No dedicated commercial podium or retail on-site; residents rely on Balmoral Plaza nearby
- 614 sqft 1-bedroom plus study units may limit resale audience to investors only
- Gross yield of 2.19% is moderate for the price quantum versus suburban condos
- No tennis court or multi-function sports facilities for active lifestyle buyers
- Developer (Priscious Pte Ltd) is boutique with limited brand equity versus major developers
- Small pool and gym sized for 40 units — adequate but not resort-scale
Verdict
Three Balmoral is one of a small handful of freehold CCR boutiques that genuinely earns its premium positioning across every dimension simultaneously — location, architecture, exclusivity, and rental demand — rather than trading on address alone. At $2,274 psf, it is priced at a 18% discount to Leedon Green ($2,784 psf) and 14% below Hyll on Holland ($2,648 psf), both freehold peers in the same D10 corridor. For buyers who value proven rental track records over new-launch premiums, that pricing differential represents a meaningful margin of safety.
The rental intensity metric stands out starkly: 77 rental transactions from 40 units in the period reviewed equates to a 1.93x ratio, suggesting near-continuous occupancy across the building. Combined with the 30% PSF appreciation since initial sales, Three Balmoral is delivering the dual mandate — yield plus capital growth — that CCR buyers seek but rarely find in smaller boutique projects. The private lift lobby, Goodwood Hill views, and proximity to the ISS international school cluster create a self-reinforcing demand loop from the expatriate community that is unlikely to abate while Singapore remains a top-tier financial hub.
The primary cautions are size-related: low resale transaction volume means price discovery is slow and exit liquidity depends heavily on individual buyer-match timing. The 614 sqft 1-bedroom plus study units may prove challenging to exit to owner-occupiers and are best evaluated as pure income assets. For buyers with a 5–10 year horizon and comfort with boutique-market liquidity norms, Three Balmoral represents one of the more compelling quiet achievers in the D10 freehold universe.