Deep Property Dossier
Stirling Residences
Stirling Road · District D03 (Alexandra / Commonwealth)
Tenure 99-year LeaseholdType CondominiumMRT EW19 Queenstown MRT Station · 540mDeveloper LN Development (Stirling) Pte Ltd
Livability
6.5/10
Own-stay
Investment
8.2/10
Invest fit
Overall
7.3/10
Live + Invest
Bottom line: Stirling Residences offers excellent connectivity, high liquidity, and attractive rental yield near Queenstown MRT, though limited nearby greenery and future supply are key considerations.
1
Overview
- Project
- Stirling Residences
- Address / District
- Stirling Road · D03
- Positioning
- Alexandra / Commonwealth
- Developer
- LN Development (Stirling) Pte Ltd
- Type
- Condominium
- Units
- ~1259
- Tenure
- 99-year Leasehold
- Nearest MRT
- EW19 Queenstown MRT Station · 540m
- On-market
- ~126 listings
- Avg asking PSF
- ~$2577.0
- Historical txns
- ~1670 txns
- District avg PSF
- D03 ~$2434
| Bed | Area sqft | On-sale | Txns | Avg PSF | Price range |
|---|---|---|---|---|---|
| 1-BR | 441 | 25 | 140 | $2082 | $1.00M–$1.35M |
| 2-BR | 506–904 | 84 | 909 | $2015 | $1.28M–$2.00M |
| 3-BR | 764–1281 | 13 | 533 | $1875 | $2.50M–$3.00M |
| 4-BR | 1345–1970 | 4 | 88 | $1829 | $3.68M–$3.70M |
Avg PSF is the per-bedroom historical transaction mean. Source: open-market transaction records.
2
Livability · 6.5
Transport 7 · Amenities 5 · Green 3 · Schools 7 · Quiet 9 · Layout 8
- Transport：540m walk to Queenstown MRT (EW19) falls within the 600m sweet spot, offering solid connectivity to the city for daily commuting.
- Amenities：Based on provided data, no major retail or market is confirmed within 300m; while practical amenities likely exist nearby, verify during viewing.
- Green：No public parks or large green spaces are indicated within 200m; residents rely mostly on the condo’s own landscaping for greenery.
- Schools：Multiple schools within 2km, including New Town Primary (0.3km) and the well-regarded Crescent Girls' School (1.9km), but no top-tier primary school within 1km.
- Quiet：As a large pure-residential condo with over 1,200 units, it avoids roadside mixed-use noise, creating a generally tranquil living environment.
- Layout：Unit types (1–4BR) encompass efficient square footage typical of modern condos, though individual layout efficiency should be verified per unit.
🚇 MRTEW19 Queenstown MRT Station 540m
🎓 SchoolsNew Town Primary School (Primary 0.3km) · Queensway Secondary School (SECONDARY (S1-S5) 0.4km) · Queenstown Primary School (Primary 0.8km) · Queenstown Secondary School (SECONDARY (S1-S5) 1.4km) · Fairfield Methodist School (Primary) (Primary 1.8km) · Anglo-Chinese Junior College (Junior College 1.8km)
Location · Stirling Road (map: OneMap / SLA)
3
Investment · 8.2
- Price trend：Achieved a 4.1% annualised psf increase (2018–2026), outpacing the broader D03 district CAGR of ~3.0% over 2021–2026.
- Liquidity：With ~185 transactions per year across 1,670 total deals, it is one of the most liquid resale projects, significantly reducing exit friction.
- Listing premium：Current average listing psf is $2,577, a 5.9% premium over the 2026 transacted $2,431, indicating some seller optimism but not excessive.
- Vs-district：In 2026, it trades at district parity ($2,431 psf vs. $2,434), while historically priced below district, pointing to initial undervaluation that has now corrected.
- Summary：Strong capital growth, exceptional trading volumes, and fair pricing make it a robust investment, though upcoming project launches could temper future gains.
Upside 7 · Rental 9 · Liquidity 9 · Resilience 7 · Entry 9
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 | — |
|---|---|---|---|
| Zyon Grand | 2030 | $3,247 | |
| Riviere | 2023 | $3,099 | |
| Promenade Peak | 2031 | $3,014 | |
| PENRITH | 2029 | $2,935 | |
| One Pearl Bank | 2024 | $2,664 | |
| The Regency at Tiong Bahru | 2010 | $2,603 |
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 · $1.64M.
| Buyer | BSD | ABSD | Total duty | All-in price | % of price | Break-even* |
|---|---|---|---|---|---|---|
| Citizen · 1st | $0.05M | — | $0.05M | $1.69M | 3.1% | ~0.8 yr |
| Citizen · 2nd | $0.05M | $0.33M | $0.38M | $2.02M | 23.1% | ~5.2 yr |
| PR · 1st | $0.05M | $0.08M | $0.13M | $1.77M | 8.1% | ~1.9 yr |
| Foreigner | $0.05M | $0.98M | $1.04M | $2.68M | 63.1% | ~12.2 yr |
*Break-even = years of appreciation to offset stamp duty, at the project ~4%/yr historical growth; ABSD varies with policy.
Dark = at project ~4%/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 | $1.00M | $0.25M | $0.05M | $0.75M | ~$3,755 |
| 2-BR | $1.28M | $0.32M | $0.06M | $0.96M | ~$4,806 |
| 3-BR | $2.50M | $0.62M | $0.12M | $1.88M | ~$9,387 |
Indicative only; subject to bank approval.
Recent transactions (negotiation basis):
| Month | Bed | Floor | Area | Price | PSF |
|---|---|---|---|---|---|
| 2026-07 | 2-BR | 24 | 657 | $1.51M | $2,298 |
| 2026-06 | 3-BR | 35 | 1,055 | $2.95M | $2,800 |
| 2026-06 | 3-BR | 27 | 883 | $2.35M | $2,661 |
| 2026-06 | 2-BR | 39 | 689 | $1.83M | $2,654 |
| 2026-06 | 2-BR | 29 | 635 | $1.55M | $2,449 |
| 2026-06 | 2-BR | 28 | 635 | $1.54M | $2,428 |
| 2026-06 | 1-BR | 11 | 441 | $1.05M | $2,392 |
| 2026-06 | 2-BR | 36 | 506 | $1.21M | $2,383 |
| 2026-06 | 2-BR | 3 | 506 | $1.21M | $2,383 |
| 2026-06 | 2-BR | 17 | 506 | $1.20M | $2,372 |
| 2026-05 | 3-BR | 37 | 979 | $2.71M | $2,768 |
| 2026-05 | 4-BR | 35 | 1,345 | $3.58M | $2,662 |
Source: open-market transaction records (per-bedroom · with floor).
5
Supply · Demand · Planning
- Planning outlook：The URA Greater Southern Waterfront plan may uplift D03 over 20–30 years, but direct benefits to Stirling Residences’ immediate locale are uncertain in the near term.
- Future supply：Four new launches totalling 2,091 units (2029–2031) will add significant supply, most being larger projects, intensifying competition in the area.
- Future demand：Central location and good MRT access should sustain demand, but the concentrated supply wave could temporarily favour buyers, leading to slower price increases.
- Tenure & holding：With a 99-year lease starting around 2018, holding beyond 2040 may see meaningful lease decay; a 10–15 year horizon is ideal for capital appreciation.
- Impact on current value：Current investment value is supported by high liquidity and fair pricing, but the 2029–2031 supply surge may cap medium-term price growth, favouring medium-hold strategies.
Future supply pipeline (District D03 upcoming launches):
| Upcoming | Units | Est. TOP | Status |
|---|---|---|---|
| Zyon Grand | 706 | 2030 | U/C |
| Promenade Peak | 596 | 2031 | U/C |
| PENRITH | 462 | 2029 | U/C |
| Hudson Place Residences | 327 | 2029 | U/C |
| Total | ~2091 | 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 | ~90 yr | ~93% | Full access |
| After 10 yr | ~85 yr | ~92% | Full access |
| After 20 yr | ~75 yr | ~88% | Full access |
| After 30 yr | ~65 yr | ~83% | 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
- Investors seeking strong rental yields and easy exit liquidity.
- Young professionals who value MRT connectivity above immediate retail amenities.
- Buyers who prefer a quiet, large-condo environment and are not dependent on top primary schools.
Caution / not for
- Not ideal for those requiring multiple retail/dining options within a 300m walk; verify actual amenities on site.
- Families targeting branded (SAP/GEP/IP) primary schools will find no option within 1km.
- Long-term buy-and-hold investors: lease decay becomes material after 15+ years.
- Investors wary of a supply overhang should monitor D03 absorption rates in 2029–2031.
Verify before buying
Verify actual walking route and time to Queenstown MRT, including shelter from weather. · Assess upcoming retail/amenity development plans within 300m, which may not be captured in current data. · Inspect the specific unit for layout functionality, noise level, and orientation, as efficiency can vary. · Confirm current rental yields with recent letting transactions, as the 4% figure is an estimated benchmark.
7
Summary · Pros & Cons
| ✅ Pros | ⚠️ Cons · Risks |
|---|---|
| Excellent MRT connectivity – 540m to Queenstown EW19 station. | Limited green space in immediate vicinity based on provided data; park access may require travel. |
| Exceptional liquidity – average 185 transactions per year, ensuring ease of resale. | No top primary schools within 1km, limiting appeal for families with school-age children. |
| Attractive rental yield potential, estimated at 4% gross, boosting cash-on-cash returns. | Upcoming supply of over 2,000 new units (2029–2031) could soften prices and rents. |
| Well-priced entry relative to district averages, especially during earlier years of undervaluation. | Remaining 92-year lease (starting 2018) means holding past 15 years must account for lease decay. |
| Quiet, pure-residential setting across a large development. | Amenities within 300m are not confirmed; buyers should physically verify nearby retail options. |
Overall · 7.3/10: Stirling Residences is a liquid, well-connected development offering solid value for investors prioritising rental income and medium-term capital growth. Its near-MRT location and high transactional volume are standout strengths, while limited greenery and upcoming supply are the main trade-offs. Buyers should align their holding period with the 99-year lease and market dynamics, but for those seeking a balanced entry in D03, it represents a sound, if not strictly underpriced, opportunity.
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