Va Residences
Overview & Key Facts
VA RESIDENCES is a 52-unit freehold condominium on Boon Teck Road in District 12, developed by Wang Yang Development Pte. Ltd. and completed in 2016. Occupying a quiet residential street in the Balestier heartland, it represents exactly the kind of boutique freehold product that rarely enters the Singapore market at an accessible price point: small enough to deliver genuine exclusivity, old enough to have proven its rental depth, and priced in a way that defies the typical freehold premium. With a trailing 12-month average PSF of $1,641, VA RESIDENCES trades at the same price per square foot as Eight Riversuites — a 843-unit leasehold development nearby — making it one of the most compelling freehold-at-leasehold-pricing opportunities currently available in the Rest of Central Region.
Wang Yang Development is a boutique local developer with a focused portfolio, and VA RESIDENCES reflects the careful attention to detail that smaller development houses tend to bring to compact projects. With just 52 units across the development, residents enjoy a quiet, private community atmosphere that larger condominiums simply cannot replicate. The unit mix — Studio, 1-bedroom, and 2-bedroom configurations — is calibrated toward young professionals, couples, and investors, with median pricing at $900,000 keeping the entry point below the psychological $1 million mark. For buyers who have watched city-fringe freehold options drift upward in price, VA RESIDENCES offers a rare second-chance opportunity.
The financial fundamentals are solid. A gross yield of 3.73%, derived from 94 rental transactions against a median sale price of $900,000, places VA RESIDENCES among the better-yielding freehold assets in D12. That 94-transaction rental record is particularly impressive for a 52-unit development: it implies every unit has been rented multiple times over, confirming deep, consistent tenant demand rather than isolated activity. The PSF trajectory — from $1,353 five years ago to $1,589 recently, a gain of approximately 17% — further validates the freehold tenure as an appreciating asset. A ShiokNest composite score of 57/100 reflects a genuinely liveable development with specific strengths in value and lease quality, and honest limitations in walkability and investment metrics that buyers should understand before committing.
Location & Connectivity
Boon Teck Road sits in the Balestier sub-district, a transitional neighbourhood that blends residential HDB blocks, low-rise shophouses, and private condominiums in a characterful urban tapestry. The street itself is quiet and predominantly residential, flanked by mature trees and modest walk-up apartments that give the precinct a human scale increasingly rare in central Singapore. VA RESIDENCES benefits from this setting: it is close enough to the conveniences of Toa Payoh and Novena to feel genuinely urban, yet removed enough from both that street noise and congestion are not daily irritants for residents.
The MRT position is VA RESIDENCES’ most headline-worthy locational asset. Toa Payoh MRT (North-South Line) is 730 metres away — a brisk 9-minute walk or a short bus ride — and Novena MRT (North-South Line) is 950 metres to the south, just under 1km. Having two NSL stations within 1 kilometre is a meaningful practical advantage: it provides routing flexibility, reduces bunching risk during peak hours, and gives residents one-stop access to either the sprawling Toa Payoh heartland (north) or the Novena medical and retail hub (south). From Toa Payoh, the NSL runs directly to Bishan, Ang Mo Kio, and Yishun; from Novena, it connects directly to Orchard Road, the CBD, and Marina Bay. City Hall is approximately 15 minutes by MRT, making this a legitimately city-fringe address for daily commuters.
Balestier Road, a 10-minute walk from the development, is one of Singapore’s most beloved food streets. The stretch from Tessensohn Road to Jalan Rajah is packed with heritage eateries: Boon Tong Kee (roast chicken rice), Founder Bak Kut Teh, Nam Kee Pau, and a string of traditional coffee shops and bakeries that have been trading for decades. The Zhongshan Mall along Balestier Road adds a layer of modern convenience with supermarket, clinic, and F&B options. Rex Cinema, one of Singapore’s last surviving independent theatres, is a short walk away. For larger-scale shopping and dining, Novena Square and United Square are accessible on foot or by bus, while junction 8 at Bishan is one MRT stop from Toa Payoh.
Schools & Education
2 primary schools within the 1 km Priority Phase balloting radius.
| School | Type | Distance |
|---|---|---|
| Beatty Secondary School | secondary | Within 1 km |
| CHIJ Secondary (Toa Payoh) | secondary | Within 1 km |
| School of Science and Technology | jc | Within 1 km |
| CHIJ Our Lady Queen of Peace | primary | Within 1 km |
| Balestier Hill Primary School | primary | Within 1 km |
| Pei Chun Public School | primary | ~1.3 km |
| New Town Primary School | primary | ~1.3 km |
| Manjusri Secondary School | secondary | ~1.4 km |
Facilities
As a 52-unit boutique development, VA RESIDENCES delivers a focused facilities offering appropriate to its scale: a swimming pool, gymnasium, and communal landscaped areas form the core package. What VA RESIDENCES lacks in resort-scale facilities, it compensates for in exclusivity — the pool and gym are shared among just 52 households, meaning residents almost never encounter the overcrowding that plagues larger developments. The swimming pool area serves as the social heart of the development, with a deck area suitable for quiet weekend afternoons. The gymnasium is compact but functional, equipped for cardio and basic resistance training. BBQ facilities and a communal lounge area round out the recreational provisions.
The development was completed in 2016, placing it at approximately 9 years of age — still relatively young in Singapore condominium terms. Management standards at VA RESIDENCES have generally been positive, with the smaller MCST benefiting from simpler governance and faster decision-making than the sprawling committees required by 500+ unit developments. The freehold tenure removes the urgency-of-depreciation mindset that sometimes leads to maintenance under-investment in ageing leasehold developments. For residents who value a quiet, well-kept environment over a resort-style showpiece, the facilities package is entirely adequate.
“The pool is never crowded — that is the best part of living in a small development. We use it almost every evening after work and have never had to wait. The building is well-maintained and the MCST is responsive. It is a proper home, not a hotel.”
— Owner-occupier via PropertyGuru
Unit Sizes & Layout
VA RESIDENCES offers Studio, 1-bedroom, and 2-bedroom configurations — a unit mix deliberately calibrated toward the compact end of the spectrum, reflecting the Balestier location’s strong appeal to young professionals, couples, and investor-landlords targeting the corporate relocation and medical-hub tenant pool. The median transaction price of $900,000 is a strategically significant number: it keeps the development accessible to HDB upgraders and first-time private property buyers who may be stretching to acquire a freehold D12 address without exceeding a psychologically important threshold. Studios and 1-bedroom units offer entry points potentially below $800,000, while 2-bedroom units at approximately 700–850 sqft deliver the freehold ownership experience at total quantum that would be unthinkable for comparable sizes in District 9 or 10.
The 2016 completion means unit finishes are relatively modern. Wang Yang Development’s boutique approach is reflected in fit-out quality that punches slightly above what pure quantum analysis might suggest. Kitchens are typically fitted with solid-surface countertops and quality appliances; bathrooms use mid-premium fittings in line with the development’s positioning. Ceiling heights are generally generous for units of this era, and the compact floorplans are well-proportioned with minimal wasted corridor space. The development’s quiet street-level position on Boon Teck Road means residents avoid the traffic noise that affects units facing larger arterial roads nearby.
| Bedrooms | Transactions | Avg PSF | Avg Price |
|---|---|---|---|
| 1 BR | 18 | $1,513 | $865,390 |
| 2 BR | 1 | $1,739 | $1,460,000 |
| 4 BR | 1 | $1,112 | $1,880,000 |
Pricing & Market Position
Based on 20 recorded transactions, sale prices range from $720,000 to $1,880,000, averaging $945,851 (~$1,605 psf).
Rents range from $1,950 to $3,800 per month across 95 rental transactions. Current rental yield sits at approximately 3.7%.
Price Appreciation
From 2021 to 2026, the average PSF has appreciated by 16% (from $1,353 to $1,570 psf).
Neighbourhood Comparison
The most instructive comparison in the D12 competitive set is between VA RESIDENCES and its two bookend competitors: Eight Riversuites at the affordable end, and Verticus at the premium end. Eight Riversuites (~$1,641 PSF, 99-year lease from 2011, 843 units) trades at an identical PSF to VA RESIDENCES — a direct, apples-to-apples price parity that makes the tenure comparison stark. Eight Riversuites offers scale (843 units vs 52), comprehensive resort facilities, and a strong Boon Keng MRT adjacency; VA RESIDENCES counters with perpetual freehold title, boutique exclusivity, and a newer 2016 completion. For a buyer spending the same PSF, the decision reduces to: do you value scale and facilities, or do you value tenure and intimacy? The PSF equivalence suggests the market has not yet fully priced the freehold premium into VA RESIDENCES — a gap that may close as the leasehold clock on Eight Riversuites becomes more visible.
At the other end of the spectrum, Verticus (~$2,122 PSF, freehold, 162 units) illustrates where freehold D12 pricing sits when the market fully prices the tenure premium. Verticus commands a 29% PSF premium over VA RESIDENCES for comparable freehold status. Some of this differential reflects Verticus’s newer construction and modern specifications; some reflects the brand positioning of a more prominently marketed development. But the gap also represents the upside scenario for VA RESIDENCES: if the Boon Teck Road freehold asset gradually closes the discount to Verticus over the coming years, buyers at $1,641 PSF today stand to benefit materially. The Gem Residences ($1,831 PSF, 99-year, 578 units) and Trevista ($2,043 PSF, 99-year, 590 units) comparables further underscore the anomaly: VA RESIDENCES is priced below nearby leasehold alternatives despite holding superior perpetual tenure. This is the core investment proposition in a single sentence.
| Development | Tenure | TOP | Units | ~Avg PSF |
|---|---|---|---|---|
| VA RESIDENCES | Freehold | 2016 | 52 | $1,605 |
| THE ORIE | 99 yrs lease commencing from 2024 | 2025 | 52 | $2,730 |
| EIGHT RIVERSUITES | 99 yrs lease commencing from 2011 | 2016 | 843 | $1,643 |
| GEM RESIDENCES | 99 yrs lease commencing from 2015 | — | 578 | $1,838 |
| TREVISTA | 99 yrs lease commencing from 2008 | — | 590 | $1,702 |
| VERTICUS | Freehold | 2021 | 162 | $2,122 |
ShiokNest Scores
Our proprietary scoring system evaluates VA RESIDENCES across multiple dimensions.
What Residents Say
“I bought a 1-bedroom here as my first property after selling my HDB flat. The freehold status was the deciding factor — at $1,641 PSF I could not find anything comparable elsewhere in D12. The tenants have been excellent; I have had a doctor from Mount Elizabeth renting for two years running. The rental income covers 70% of my monthly instalments.”
— Investor-owner via PropertyGuru
“We live here with our two daughters, both at CHIJ schools. The walk to CHIJ Secondary is about 10 minutes through a quiet neighbourhood — very safe and straightforward. The development is small, which we love. We know all our neighbours by name. The Balestier hawker food is world-class: Founder Bak Kut Teh is a 12-minute walk and we eat there every Sunday.”
— Owner-occupier family via 99.co
“I rent a studio unit here while on a 2-year work assignment at Tan Tock Seng Hospital. Novena MRT is a manageable 12-minute walk, or I can take the bus from Boon Teck Road directly. The building is quiet, clean, and the pool area is always available. For a short-term corporate rental, this has been excellent value at under $2,500 per month.”
— Tenant via EdgeProp
Strengths & Weaknesses
- Freehold tenure at $1,641 PSF — identical to Eight Riversuites (99-year leasehold), outstanding value
- Sub-$1M median price ($900,000) — accessible freehold entry point for HDB upgraders and first-timers
- Gross yield 3.73% — strong income return for a freehold D12 city-fringe asset
- 94 rental transactions on 52 units — proven, deep rental demand well above average turnover rate
- Toa Payoh NSL at 730m + Novena NSL at 950m — two stations within 1km provides routing flexibility
- CHIJ cluster: CHIJ Secondary (720m) + CHIJ OLQP (880m) — powerful draw for families with daughters
- Boutique 52 units — shared pool and gym with minimal crowding; community atmosphere
- 2016 completion — relatively modern finishes, ~9 years old with years of useful life ahead
- PSF trend +17% over 5 years ($1,353 → $1,589) — steady appreciation validates freehold fundamentals
- Profitability 73/100 — solid historical return profile for owners who have held since launch
- Investment score 42/100 — D12 is not a top-tier capital appreciation district; growth capped vs CCR
- Walkability 50/100 — daily errands require more effort; no MRT within 5 minutes walk
- Only 52 units — limited resale liquidity; fewer comparable transactions for valuation benchmarking
- No large-scale resort facilities — boutique pool and gym only; no tennis court or sky terrace
- Wang Yang Development is a niche boutique brand — less brand premium than CapitaLand or CDL peers
- PSF recent pullback from $1,652 to $1,589 — short-term trend worth monitoring before committing
- Balestier mid-tier neighbourhood — lacks the prestige address premium of Novena or Newton
- Small MCST pool — sinking fund accumulates more slowly; major repairs require larger per-unit levy
Verdict
The core value thesis for VA RESIDENCES can be expressed in a single comparison: it currently trades at $1,641 PSF, precisely the same price per square foot as Eight Riversuites — a 843-unit, 99-year leasehold development completed in 2011 in the same broad neighbourhood. Buying freehold tenure at the same PSF as a leasehold comparable is not a normal market condition; it represents either a pricing inefficiency or a structural undervaluation of VA RESIDENCES that patient buyers can exploit. The freehold tenure means no lease decay, no CPF usage restrictions in future decades, and the perpetual optionality of collective sale if urban renewal eventually makes the Boon Teck Road site attractive to a developer. Eight Riversuites offers scale and brand recognition; VA RESIDENCES offers tenure permanence and boutique exclusivity at the identical unit land cost.
The CHIJ school cluster within 900 metres is a genuine secondary advantage that the raw numbers understate. CHIJ Secondary Toa Payoh at 720 metres and CHIJ Our Lady Queen of Peace at 880 metres place VA RESIDENCES squarely within walking distance of two established CHIJ institutions. For families with daughters in the Catholic primary-secondary pipeline, this proximity is a specific and powerful draw that generates a durable sub-segment of long-term tenant and buyer demand. Balestier Hill Primary at 1.00 kilometre further expands the school catchment profile. The school cluster, combined with Novena medical hub proximity, means VA RESIDENCES tenants span a particularly stable demographic: medical professionals, healthcare workers, and school-motivated family renters — profiles associated with lower vacancy rates and longer tenancies.
The honest caveats are worth stating clearly. An investment score of 42/100 reflects the reality that D12 is not a top-tier investment district, and the small unit count limits liquidity compared to larger developments. The walkability score of 50/100 signals that while the two MRT stations are accessible, daily errands require more effort than a higher-density neighbourhood like Toa Payoh Central or Novena would provide. Buyers who prioritise capital appreciation over rental yield may find the investment metrics uncompelling compared to OCR growth corridors. But for the specific buyer who values freehold tenure, a sub-$1M entry point, proven rental demand, and two NSL stations within 1km — VA RESIDENCES is a quietly outstanding proposition.