Deep Property Dossier
Normanton Park
Normanton Park · District D05 (Buona Vista / West Coast / Clementi New Town)
Tenure 99-year LeaseholdType CondominiumMRT — · —mDeveloper Kingsford Development Pte Ltd
Livability
6.5/10
Own-stay
Investment
5.6/10
Invest fit
Overall
6.0/10
Live + Invest
Bottom line: 5/10 – A green sanctuary with decent liquidity but held back by poor transit and lacklustre capital growth; suitable only for car‑dependent, nature‑loving long‑term holders.
1
Overview
- Project
- Normanton Park
- Address / District
- Normanton Park · D05
- Positioning
- Buona Vista / West Coast / Clementi New Town
- Developer
- Kingsford Development Pte Ltd
- Type
- Condominium
- Units
- ~1862
- Tenure
- 99-year Leasehold
- Nearest MRT
- — · —m
- On-market
- ~619 listings
- Avg asking PSF
- ~$2051.0
- Historical txns
- ~1968 txns
- District avg PSF
- D05 ~$2178
| Bed | Area sqft | On-sale | Txns | Avg PSF | Price range |
|---|---|---|---|---|---|
| 1-BR | 484–700 | 181 | 526 | $1840 | $0.85M–$1.50M |
| 2-BR | 635–979 | 177 | 638 | $1833 | $1.10M–$1.90M |
| 3-BR | 904–1249 | 241 | 602 | $1838 | $1.55M–$2.54M |
| 4-BR | 1195–2165 | 17 | 150 | $1853 | $2.50M–$3.80M |
| 5-BR | 1614–2109 | 1 | 52 | $1810 | $3.66M–$3.66M |
Avg PSF is the per-bedroom historical transaction mean. Source: open-market transaction records.
2
Livability · 6.5
Transport 3 · Amenities 5 · Green 9 · Schools 7 · Quiet 8 · Layout 7
- Transport：Nearest MRT (Kent Ridge/one‑north) estimated over 1 km away – poor walkability; daily commute depends heavily on buses or private vehicles.
- Amenities：No major mall within walking distance; limited retail at The Village; full‑scale shopping requires a drive to Clementi or West Coast Plaza.
- Green：Kent Ridge Park is literally at the doorstep (<200 m), offering immediate access to trails and greenery – a standout feature.
- Schools：Fairfield Methodist Secondary (autonomous, acclaimed) sits 1.8 km away; primary schools >1.6 km; no top school within the prized 1 km radius.
- Quiet：Large, pure‑residential enclave away from main roads minimises urban din, though AYE‑facing units may still hear highway hum.
- Layout：Typical modern condo layouts – assumed efficient given recent TOP; specific efficiency data not provided in this analysis.
Location · Normanton Park (map: OneMap / SLA)
3
Investment · 5.6
- Price Trend：Own‑project CAGR only 2.2% (2021‑2026), barely beating inflation – signals limited capital upside.
- Liquidity：With ~2,000 cumulative sales across all unit types, the project sees active resales; liquidity is above average for a single development.
- Listing Premium：Current listing (~$2,051 psf) sits 5.8% below D05’s 2026 average ($2,178 psf), offering a modest discount – fair but not fire‑sale.
- Versus District：At $2,051 psf, the project commands a 42% premium over the D05 resale average ($1,446 psf), reflecting its newer age but leaving limited bargain value.
- Summary：Steady, high‑liquidity asset with soft capital growth; suitable for buy‑and‑hold strategies but unattractive for quick flips or yield‑chasing investors.
Upside 5 · Rental 0 · Liquidity 8 · Resilience 8 · Entry 7
Source: open-market records · per-bedroom deep history. *Last year partial.
Yearly avg PSF by bedroom; ≥4 txns/point. Source: open-market records.
Source: open-market records + URA. *Last year partial.
| Project | TOP | Asking PSF | — |
|---|---|---|---|
| Lyndenwoods | 2028 | $2,635 | |
| Blossoms By The Park | 2026 | $2,585 | |
| Bloomsbury Residences | 2029 | $2,577 | |
| Terra Hill | — | $2,560 | |
| One-North Eden | 2024 | $2,474 | |
| ELTA | 2028 | $2,466 |
Same-district comparables · avg asking PSF. Source: open-market listings.
4
Entry Cost & Return
Price is only part of it — stamp duty (BSD + ABSD), monthly repayment, net yield and break-even decide whether it is worth it. Figures below use a representative 2-BR · $1.50M.
| Buyer | BSD | ABSD | Total duty | All-in price | % of price | Break-even* |
|---|---|---|---|---|---|---|
| Citizen · 1st | $0.04M | — | $0.04M | $1.54M | 3.0% | ~1.3 yr |
| Citizen · 2nd | $0.04M | $0.30M | $0.34M | $1.84M | 23.0% | ~9.5 yr |
| PR · 1st | $0.04M | $0.07M | $0.12M | $1.62M | 8.0% | ~3.5 yr |
| Foreigner | $0.04M | $0.90M | $0.94M | $2.44M | 63.0% | ~22.4 yr |
*Break-even = years of appreciation to offset stamp duty, at the project ~2%/yr historical growth; ABSD varies with policy.
Dark = at project ~2%/yr, light = district ~5%/yr (optimistic).
Repayment & down-payment (LTV 75% · 3.5% · 25 yr):
| Bed | Ref price | Down 25% | Min cash 5% | Loan 75% | Monthly |
|---|---|---|---|---|---|
| 1-BR | $0.85M | $0.21M | $0.04M | $0.64M | ~$3,191 |
| 2-BR | $1.10M | $0.28M | $0.06M | $0.82M | ~$4,130 |
| 3-BR | $1.55M | $0.39M | $0.08M | $1.16M | ~$5,816 |
Indicative only; subject to bank approval.
Recent transactions (negotiation basis):
| Month | Bed | Floor | Area | Price | PSF |
|---|---|---|---|---|---|
| 2026-07 | 4-BR | 08 | 1,313 | $2.76M | $2,102 |
| 2026-07 | 4-BR | 07 | 1,195 | $2.48M | $2,075 |
| 2026-07 | 2-BR | 02 | 829 | $1.54M | $1,855 |
| 2026-06 | 4-BR | 03 | 1,335 | $2.83M | $2,120 |
| 2026-06 | 2-BR | 05 | 721 | $1.49M | $2,067 |
| 2026-06 | 3-BR | 24 | 1,238 | $2.50M | $2,019 |
| 2026-06 | 3-BR | 11 | 958 | $1.93M | $2,015 |
| 2026-06 | 2-BR | 12 | 764 | $1.51M | $1,974 |
| 2026-06 | 2-BR | 16 | 646 | $1.25M | $1,935 |
| 2026-06 | 2-BR | 06 | 657 | $1.25M | $1,910 |
| 2026-05 | 4-BR | 14 | 1,313 | $2.82M | $2,148 |
| 2026-05 | 3-BR | 15 | 1,087 | $2.26M | $2,079 |
Source: open-market transaction records (per-bedroom · with floor).
5
Supply · Demand · Planning
- Planning Outlook：URA Master Plan 2025 envisions new housing and commercial nodes in Buona Vista, West Coast and Clementi, which may lift long‑term demand in the precinct.
- Future Supply：Five upcoming condos (~1,876 units) between 2026‑2029 will intensify competition, likely capping resale price growth in the short‑to‑medium term.
- Future Demand：Proximity to Science Park, one‑north and NUS guarantees a steady pool of tenants and owner‑occupiers, underpinning resale liquidity.
- Tenure & Holding：With 94 years remaining on the 99‑year lease, depreciation risk is negligible for medium‑term holdings; only ultra‑long timeframes (>30 years) may see erosion.
- Impact on Current Value：Near‑term price pressure from new launches is likely, but employment‑driven demand should prevent a significant drop; net effect is modestly negative.
Future supply pipeline (District D05 upcoming launches):
| Upcoming | Units | Est. TOP | Status |
|---|---|---|---|
| ELTA | 501 | 2028 | U/C |
| Faber Residence | 399 | 2029 | U/C |
| Bloomsbury Residences | 358 | 2029 | U/C |
| Lyndenwoods | 343 | 2028 | U/C |
| Blossoms By The Park | 275 | 2026 | U/C |
| Total | ~1876 | completing |
Around 2025 new launches set the ceiling; resale here is the value entry. Source: URA (split by sale type).
Planning & supply timeline. Source: URA Master Plan 2025 + open-market listings.
Tenure & holding period: For a 99-yr lease, the future depends on how long you hold — below: remaining lease and CPF/loan impact by holding period.
| Hold | Lease left | Bala value* | CPF / loan |
|---|---|---|---|
| After 5 yr | ~91 yr | ~93% | Full access |
| After 10 yr | ~86 yr | ~92% | Full access |
| After 20 yr | ~76 yr | ~88% | Full access |
| After 30 yr | ~66 yr | ~84% | Full access |
*Bala curve is a lease-valuation rule of thumb; indicative only.
*Outlook is based on URA Master Plan 2025 and nearby public planning information, not an official forecast; launch unit counts/TOP are subject to official and developer announcements.
6
Risks & Fit
Who it suits
- Families who value greenery, space, and quiet over immediate MRT access
- Long‑term investors comfortable with ~2‑3% annual capital growth
- Nature enthusiasts seeking doorstep park access
- Tenants working in Science Park or one‑north who prefer a serene environment
Caution / not for
- Investors targeting aggressive capital appreciation or strong rental yields (yield data unavailable)
- Daily MRT commuters – poor public transit connectivity
- Short‑term speculators given high BSD for foreigners/second‑timers and slow price growth
- Buyers who consider future lease decay a major concern (99‑year project)
Verify before buying
Verify exact MRT distance and shuttle‑bus availability to Kent Ridge/one‑north · Obtain recent rental transactions to assess gross yield (not provided in this analysis) · Inspect specific unit’s view and noise exposure – AYE‑facing versus park‑facing · Review timing and pricing of upcoming launches in the neighbourhood
7
Summary · Pros & Cons
| ✅ Pros | ⚠️ Cons · Risks |
|---|---|
| Immediate adjacency to Kent Ridge Park | Far from MRT, poor public transport connectivity |
| Close to major employment hubs (one‑north, Science Park, NUH) | Mediocre historical price growth (CAGR 2.2%) |
| High transaction volume ensures easy entry/exit | Significant upcoming supply may suppress prices for years |
| Current listing psf is below the district average | Rental yield data missing; likely modest given large project |
| Long remaining lease (94 years) – no immediate lease decay concern | No top primary school within 1 km |
Overall · 6.0/10: Normanton Park offers a rare blend of nature and convenience for those who drive, with excellent liquidity and a reasonable entry price relative to the district. However, its drawbacks – poor transit, unexciting capital gains, and a wave of future supply – make it a niche purchase. It is best reserved for long‑term buy‑and‑hold investors or owner‑occupiers who prioritise greenery over connectivity. Prospective buyers must investigate rental performance first‑hand and be prepared for muted near‑term price action.
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