Verticus
Verticus, Balestier: Boutique Freehold in a City-Fringe Sweet Spot
Only four resale transactions recorded in the twelve months to May 2026. That single statistic tells you almost everything about Verticus — a 162-unit freehold boutique completed in 2021 on Jalan Kemaman, Balestier. It is not a project you buy for quick liquidity; it is one you buy to hold. With a lifetime leasehold clock of zero years to worry about, a median transacted PSF of S$2,133 across 128 lifetime caveats (as of 2026-05), and walking distance to both Toa Payoh and Novena MRT stations, Verticus occupies a rare intersection: new-build quality, freehold tenure, and genuine city-fringe connectivity — at a price point still meaningfully below the Core Central Region premium.
Balestier itself is undergoing a quiet gentrification. The heritage food belt along Balestier Road, the conservation shophouses, and the proximity to Novena's expanding medical cluster have kept the area on the radar of owner-occupiers and buy-to-let investors alike. Verticus, launched into a rising market and completed just as demand for smaller-format city-fringe units accelerated post-pandemic, benefited from that timing. Its average transacted price across all units sits at S$1,595,906 — a figure accessible to dual-income couples and within reach of CPF utilisation under the CPF Home Ownership scheme. For a freehold title in District 12 RCR, that is a compelling headline number.
This review draws on URA transaction data covering the full sales window from TOP in 2021 through May 2026, supplemented by 108 rental caveats from 2024 to 2026. All figures are as of 2026-05. For the broader District 12 RCR market context, including Balestier, Toa Payoh, and Novena sub-market trends, see our district overview. We also encourage buyers to model their own entry scenarios using the mortgage calculator and stamp duty calculator before proceeding.
Overview & Key Facts
Verticus is a freehold boutique development of just 162 units located at Jalan Kemaman in District 12 — the residential pocket wedged between Toa Payoh and Novena. Developed by Soilbuild Group and completed in 2021, Verticus occupies a quiet, low-profile street that sits within Singapore’s Rest of Central Region (RCR), giving it a city-fringe positioning without the price tag of Core Central developments.
What makes Verticus distinctive is not its size or facilities — at 162 units, it has neither the scale for resort-style amenities nor the unit count to generate high transaction volumes. Its edge is tenure and location scarcity: freehold condominiums in District 12 are genuinely rare. The surrounding area is dominated by 99-year leasehold stock, making Verticus one of a small handful of permanent-tenure options in the Balestier–Toa Payoh corridor.
The development comprises a single 24-storey tower with a mix of one- to four-bedroom units. The compact footprint means every unit faces outward — there are no inward-facing stacks looking at corridor walls. Pricing has appreciated steadily since TOP, moving from approximately $2,049 psf to $2,275 psf over four years, reflecting the market’s recognition of the freehold premium in a well-connected RCR location.
Location & Connectivity
Jalan Kemaman is a short, quiet residential street that runs parallel to Balestier Road. For anyone unfamiliar with the area, the easiest way to think about Verticus’s location is: one block from Balestier Road’s famous food stretch, midway between Toa Payoh MRT and Novena MRT, and about a 10-minute drive to Orchard Road.
The nearest MRT is Toa Payoh station (North-South Line) at approximately 810 metres. That’s walkable — barely — in Singapore’s climate. It’s the kind of distance that feels fine on a cool morning but less appealing at 2 pm in July. Novena MRT (also North-South Line) is about 1.01 km away, giving residents a second option that also connects to the Novena medical hub and Velocity@Novena Square mall.
For drivers, the location is strong. The CTE is accessible within minutes via Moulmein Road or Thomson Road, putting the CBD roughly 12–15 minutes away in off-peak traffic. Orchard Road is a straight shot down Thomson Road. The Pan Island Expressway (PIE) is also within easy reach via Toa Payoh.
The real everyday asset is Balestier Road itself — one of Singapore’s most storied food streets. Bak kut teh, claypot rice, roast meat, and prawn noodles are all within a five-minute walk. Zhongshan Mall and Shaw Plaza provide basic retail. For serious shopping, Novena Square and United Square are under 1.5 km away, while Toa Payoh Central offers heartland-style wet market, hawker centre, and HDB Hub amenities.
Schools & Education
2 primary schools within the 1 km Priority Phase balloting radius.
| School | Type | Distance |
|---|---|---|
| Beatty Secondary School | secondary | Within 1 km |
| School of Science and Technology | jc | Within 1 km |
| CHIJ Secondary (Toa Payoh) | secondary | 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 | ~1.4 km |
| De La Salle School | primary | ~1.4 km |
| Manjusri Secondary School | secondary | ~1.4 km |
Facilities
Let’s be direct: at 162 units, Verticus is a boutique development, and its facilities reflect that scale. This is not the place to look for a 50-metre lap pool, tennis courts, or a grand clubhouse with function rooms. What you get is a compact but well-maintained set of amenities designed for a small resident community.
The development features a 25-metre swimming pool, a children’s wading pool, a gym, a BBQ pavilion, and a sky terrace on the upper floors. There is also a rooftop garden area that offers views toward the city skyline — a genuine perk given the 24-storey height in a predominantly low-rise neighbourhood.
The trade-off is straightforward: fewer facilities means lower maintenance fees and less competition for booking. Residents who have lived in mega-developments and spent weekends battling for BBQ pit slots will appreciate the relative calm. But buyers who want a resort-style experience with tennis, badminton, and multiple pool zones need to look elsewhere — this is fundamentally a “live here, play outside” development.
Unit Sizes & Layout
Verticus offers a straightforward unit mix across its single 24-storey tower: one-bedroom, two-bedroom, three-bedroom, and four-bedroom configurations. As a 2021-completion development, the layouts follow contemporary design norms — efficient use of space, decent ceiling heights, and functional kitchen and bathroom layouts that reflect post-2018 developer standards.
The single-tower design means most units enjoy unobstructed outward views, with higher floors offering sightlines toward the city skyline and the landed housing estates in the Balestier area. North-facing stacks look toward the Toa Payoh HDB heartland, while south-facing units benefit from the low-rise Balestier shophouse corridor that is unlikely to see significant redevelopment.
Build quality is generally consistent with what you would expect from a mid-to-upper-market boutique launch of this era. Soilbuild’s track record is primarily in industrial and commercial property, so Verticus represents one of their residential ventures — the finishing is competent without being exceptional. Buyers coming from older resale stock will find the fittings modern and functional; those comparing against luxury CCR launches may find the specification mid-range.
| Bedrooms | Transactions | Avg PSF | Avg Price |
|---|---|---|---|
| 0 BR | 13 | $2,177 | $1,003,923 |
| 1 BR | 50 | $2,141 | $1,443,060 |
| 2 BR | 56 | $2,080 | $1,706,518 |
| 3 BR | 9 | $2,201 | $2,611,889 |
Pricing & Market Position
Based on 128 recorded transactions, sale prices range from $958,000 to $2,756,000, averaging $1,595,906 (~$2,254 psf).
Rents range from $2,800 to $8,500 per month across 103 rental transactions. Current rental yield sits at approximately 3.0%.
Price Appreciation
From 2021 to 2025, the average PSF has appreciated by 11% (from $2,049 to $2,275 psf).
Neighbourhood Comparison
The competitive picture in the Toa Payoh–Novena corridor is shaped by a fundamental split: new launches at premium pricing versus older resale stock at lower psf. Verticus sits in a unique position as a relatively new freehold option.
The Orie ($2,730 psf, 99-year) is the newest entrant and commands the highest psf in the comparison set. Buyers there are paying for brand-new status and potentially better facilities at scale, but surrendering freehold tenure. Over a 30-year hold, Verticus’s freehold advantage becomes increasingly significant as The Orie’s lease depreciates.
The Arcady ($2,593 psf, freehold) is the closest like-for-like comparison — also freehold and in the same general area. The Arcady is newer and positioned slightly upmarket, but at a roughly 14% premium over Verticus. Buyers choosing between the two are essentially weighing newer finishes against Verticus’s lower entry price and established track record.
Eight Riversuites ($1,639 psf, 99-year) and Trevista ($1,696 psf, 99-year) represent the value end of the spectrum. Both offer significantly lower psf but carry 99-year leases that are now 10–15 years into their terms. For pure value buyers, these are compelling — but the lease differential explains the bulk of the price gap, and that gap will widen over time as the leasehold stock ages.
Gem Residences ($1,831 psf, 99-year) sits in the middle ground — newer than Eight Riversuites and Trevista, with better facilities than Verticus, but again on a 99-year lease. For buyers who want more amenities and are comfortable with leasehold tenure, Gem Residences offers a balanced alternative.
| Development | Tenure | TOP | Units | ~Avg PSF |
|---|---|---|---|---|
| VERTICUS | Freehold | 2021 | 162 | $2,254 |
| 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 |
| THE ARCADY AT BOON KENG | Freehold | 2024 | 172 | $2,598 |
ShiokNest Scores
Our proprietary scoring system evaluates VERTICUS across multiple dimensions.
What Residents Say
“Very quiet development, you really feel the difference from a boutique condo vs big developments. Balestier food is amazing and just a short walk away.”
— Resident review via PropertyGuru
“Freehold in this location is hard to find. We looked at many options in D11 and D12 and kept coming back to Verticus for the tenure.”
— Owner review via EdgeProp
“Pool is small, gym is basic. If you want facilities, this is not for you. But the location is convenient for daily life and the unit layout is practical.”
— Resident review via 99.co
The feedback pattern is consistent with what the numbers suggest: residents chose Verticus for tenure and location, not for lifestyle amenities. The Balestier food scene and quiet street environment are frequently cited as highlights, while the limited pool and gym size are the most common criticisms. The predominantly owner-occupied profile means the development is well-maintained and quiet — a contrast to some larger developments with high tenant turnover.
What Verticus Gets Right
1. Freehold Tenure in an RCR Market Dominated by 99-Year Leasehold
Singapore's residential market is overwhelmingly leasehold. The vast majority of new launches in the Rest of Central Region carry 99-year tenures, and lease decay is a genuine medium-to-long-term pricing risk — as explored in detail on the price heatmap, which tracks PSF trends across leasehold and freehold pockets. Verticus carries no such liability. A freehold title means the asset does not begin the slow depreciation that accelerates once a leasehold property passes the 70-year mark. For a buyer with a 20-to-30-year horizon — particularly one who intends to pass the asset to a child or monetise via an eventual en-bloc — freehold is not merely a marketing tag; it is a structural advantage. The URA transaction portal confirms that freehold transactions at comparable PSF levels in Balestier are genuinely scarce, reinforcing Verticus's positioning.
2. Solid PSF Hold Since TOP
Across 128 total caveats (2021–2026), Verticus's average transacted PSF is S$2,122, with a median of S$2,133. The last 12 months — thin as they are at only four transactions — show an average PSF of S$2,254, suggesting no pricing erosion and a modest appreciation trend. The range across the full dataset (S$1,856 to S$2,387 PSF) is relatively tight for a boutique project, indicating consistent market pricing rather than outlier distortion. Two-bedroom units, which make up the bulk of recorded sales (n=5 with an average PSF of S$2,317 on approximately 766 sqft), show a slight premium over the portfolio average, consistent with the broader Singapore market's preference for two-bedroom formats among investors seeking rental yield.
3. Rental Yield Anchored by Novena Medical Demand
With 108 rental caveats from 2024 to 2026, the rental story is more liquid than the resale story. Average rent across all unit types is S$3,954 per month. Breaking this down: one-bedroom units (n=33) average S$3,170; two-bedroom units (n=51) average S$3,950; three-bedroom units (n=16) average S$5,509. Implied gross yield on a two-bedroom unit purchased at the current average of approximately S$1,776,000 runs to roughly 2.7% annually — modest by yield-focused standards but respectable for a freehold RCR asset where the capital preservation argument supplements the income case. The Novena medical cluster, which includes Mount Elizabeth Novena Hospital, Tan Tock Seng Hospital, and a dense concentration of specialist clinics, is a reliable tenant demand generator. Medical professionals and visiting patients' families form a recurring renter cohort. Use the rental yield map to benchmark Verticus against comparable Balestier and Novena projects.
4. MRT Access: Two Lines, Dual Catchment
Toa Payoh MRT (North South Line) sits 812 metres from Verticus — an 8-to-10-minute walk for most residents, or a short cycling distance. Novena MRT (also NSL) is at 1,008 metres. Boon Keng (North East Line) adds a third option at 1,450 metres, offering NEL connectivity to Harbourfront, Dhoby Ghaut, and Punggol. This dual-line proximity is rare in the boutique segment and significantly broadens the tenant catchment: NSL commuters heading to Orchard, City Hall, or Jurong East; NEL users heading to the CBD via Dhoby Ghaut or accessing the eastern corridor. Commute time modelling is available on the commute time map.
5. Boutique Scale = Lower Management Overhead, Community Feel
At 162 units, Verticus sits in the boutique tier that many owner-occupiers and small-portfolio investors prefer. Management Corporation Strata Title (MCST) fees are more predictable, major decisions require fewer votes, and the community dynamic tends to be quieter and more owner-oriented than in large developments of 500-plus units. For buyers who have experienced the friction of large-development MCST politics — facility overcrowding, lift waits, contested sinking fund decisions — boutique scale is a genuine lifestyle advantage.
Risks and Limitations to Weigh Carefully
1. Very Thin Resale Liquidity
This is Verticus's most significant buyer-facing risk and must not be glossed over. Only four resale transactions were recorded in the twelve months to May 2026. For a project completed in 2021 with 162 units, that is exceptionally low turnover. Multiple explanations are plausible — a high proportion of long-term hold owner-occupiers, unit lock-up by investors awaiting further appreciation, or simply a small pool of motivated sellers — but from a buyer's perspective the practical consequence is the same: if you need to exit within a three-to-five-year window, you may find it difficult to achieve a timely sale at your target price. Price discovery with four comparables per year is inherently imprecise. Run a full cost scenario using the total cost calculator and the ROI calculator before committing, and stress-test against a scenario where your exit is delayed by 12–18 months.
2. Small-Format Unit Mix Limits Owner-Occupier Appeal for Families
The recorded transaction profile — one studio at 441 sqft, one one-bedroom at 678 sqft, and the bulk of inventory in two-bedroom at approximately 766 sqft — confirms Verticus skews small. These are investor and couple formats, not family homes. Buyers with school-age children, elderly parents to accommodate, or expectations of hosting extended family will find the footprint constraining. The limited upside from family-demand buyers also narrows the eventual resale audience, contributing to the liquidity issue noted above. If your use case is owner-occupation by a growing family, the District 12 market offers larger-format alternatives worth comparing side-by-side via the property comparison tool.
3. Premium PSF Entry with Compressed Yield
At a median PSF of S$2,133, Verticus commands a meaningful premium over the broader Balestier and Toa Payoh resale market. For a two-bedroom unit transacting at an average of S$1,776,000, a buyer paying 25% in cash (S$444,000) plus Buyer's Stamp Duty of approximately S$54,700 (under the IRAS BSD framework) and Additional Buyer's Stamp Duty of 20% (S$355,200) for a second residential property (per the IRAS ABSD schedule) faces total acquisition costs well above S$2.5 million on an all-in basis. The implied gross yield of approximately 2.7% on a two-bedroom unit is positive but not generous. After property tax under the IRAS non-owner-occupied property tax schedule, MCST fees, and occasional maintenance, the net yield compresses further. MAS TDSR rules (see MAS Notice 645) cap total debt service at 55% of gross monthly income — buyers with existing mortgages should model their TDSR headroom using the TDSR calculator before proceeding.
4. Balestier Remains a Secondary Location Narrative
Despite ongoing gentrification, Balestier does not yet command the brand premium of Novena proper, Newton, or Toa Payoh town centre. The area's food and heritage appeal is authentic but niche. New launches in the broader District 12 corridor — particularly those closer to Novena MRT or the Orchard fringe — have historically achieved stronger absolute PSF appreciation. Buyers paying S$2,100-plus PSF at Verticus are effectively pricing in a future re-rating of the Balestier address, which is plausible but not guaranteed. Check the URA Master Plan viewer for confirmed development and rezoning plans in the immediate catchment before anchoring to an appreciation thesis.
5. No Near-Term En-Bloc Catalyst
For freehold projects, en-bloc potential is sometimes cited as an upside. With Verticus completed in 2021, any Collective Sale is legally and practically off the table for at least 7–10 years under prevailing Strata Titles Board cooling-off and consent norms. Buyers should not factor en-bloc proceeds into their medium-term return modelling.
Who Is — and Is Not — a Good Fit for Verticus
| Buyer Persona | Fit | Why |
|---|---|---|
| Freehold-seeking long-term investor (Singapore citizen, first property) | Strong | Freehold title eliminates lease-decay risk. No ABSD for first residential property. S$1.6M average entry price is accessible with CPF utilisation. Thin resale volume suits a 10-plus-year hold strategy where capital preservation matters more than short-term liquidity. Rental demand from Novena medical catchment provides income during the holding period. |
| City-fringe couple (DINK — dual income, no kids) | Good | Two-bedroom at approximately 766 sqft is workable for a couple. Toa Payoh MRT at 812m and Novena MRT at 1,008m cover most CBD commute routes. Balestier food belt is a genuine lifestyle amenity. Freehold tenure means the asset remains transferable to future family use without lease residue anxiety. Entry price is within range for a dual-income household with combined income of S$14,000-plus. |
| Novena medical-hub buy-to-let landlord | Good | 108 rental caveats from 2024–2026 confirm active tenant demand. One-bedroom units rent at S$3,170/mo average; two-bedroom at S$3,950/mo. Medical professionals and hospital-adjacent tenants tend to be stable, longer-term renters. Gross yield is modest (~2.7% for 2BR) but freehold title supports the capital leg of the total-return case. Best suited to investors who are not dependent on year-one yield alone. |
| Capital-preservation buyer (Singapore PR, upgrader) | Moderate | Freehold in RCR at S$2,133 median PSF is a reasonable capital-preservation store in a land-scarce market. However, 20% ABSD for PRs on second residential property is a significant drag on total return. Buyers in this category should run full cost scenarios including ABSD, BSD, legal fees, and MCST before committing. The total-cost calculator and stamp duty calculator are essential tools here. |
| Family buyer (3+ occupants, school-age children) | Weak | Unit sizes top out at approximately 766 sqft for the bulk of available two-bedroom inventory. Three-bedroom units exist (implied by rental data showing 16 three-bedroom leases at S$5,509/mo average) but the sales transaction record shows limited three-bedroom resale history. Space constraints and thin availability of larger formats make Verticus a poor fit for families needing 900-plus sqft. Consider larger-format alternatives in District 12 via the property comparison tool. |
| Short-term flipper or speculative trader | Poor | Four resale transactions in the last 12 months. Exit risk is high if a trade needs to be unwound within 24 months. Seller's Stamp Duty does not apply for properties held beyond 3 years from purchase, but the practical exit challenge is finding a buyer at all in a thin market. This is emphatically not a project for buyers who may need to liquidate quickly. |
Editorial Verdict: A Freehold Hold Play for Patient Investors, Not a Trading Counter
Verticus is a well-located, boutique freehold project that delivers on its core promise: a new-build, leasehold-free asset in the city fringe with genuine dual-line MRT access and a tenant demand base anchored by the Novena medical cluster. The PSF trajectory from TOP through to May 2026 — median S$2,133 with recent transactions showing S$2,254 — suggests the market has validated the initial pricing thesis without dramatic appreciation, but also without the PSF erosion that sometimes follows boutique projects as they age past TOP euphoria.
The honest caveat, however, is liquidity. Four transactions in twelve months is not a number that supports a short-to-medium-term exit strategy. Buyers who commit to Verticus are, in effect, choosing a hold-and-rent strategy by default: the rental market (S$3,950/mo for a two-bedroom unit; gross yield approximately 2.7%) provides the interim return while the long-run capital case — freehold tenure in a land-scarce city, Balestier's continued gentrification, the Novena medical hub's ongoing expansion — matures over a decade or more.
For that buyer profile — patient, yield-supplemented, capital-preservation-oriented — Verticus is a credible addition to a property portfolio. It is not a proxy for the Orchard or Marina Bay premium; it is a lower-cost freehold alternative that trades address prestige for tenure security. The S$2,100-plus PSF entry point means buyers are not picking up a bargain, but for a freehold title in the RCR with active rental demand, the pricing is defensible.
The projects Verticus competes most directly with are other boutique freehold developments in the Balestier–Novena corridor, several of which are older with shorter effective remaining useful lives despite their freehold tenure on paper. New-build quality and facilities condition favour Verticus among that cohort. Use the ShiokNest scores map to compare Verticus's composite investment and walkability scores against nearby developments, and the affordability calculator to size your borrowing capacity before firming up an offer.
Best suited for: Long-hold freehold investors; city-fringe couples; Novena medical-hub buy-to-let landlords. Least suited for: Families needing large footprints; buyers with potential short-term liquidity needs; yield-maximising investors with competing leasehold options at lower PSF entry.