The Garden Residences Review — Serangoon · D19
HuatScore: 49/100 — Conditional Buy
Is The Garden Residences a good buy?
HuatScore rates The Garden Residences 49/100 — a "Conditional Buy" verdict. That makes it a speculative play for value-focused buyers comfortable with the location tradeoff and patient own-stay owners. Strongest card: Healthy transaction liquidity. Main watch-out: District price gap is wide. Pricing is reasonable for the location at current market.
Last updated 2026-08-03 · scored against URA caveat data.
Key facts
- Verdict: Conditional Buy
- Region: Outside Central Region
- Tenure: 99-yr leasehold
- Completed: 2022
- Units: 613
- Developer: Keppel × Wing Tai
- Avg PSF: ~$1,850 psf
- Price from: S$1.0M
Live market data
- Resale transactions (12mo): 44
- Recent resale PSF: ~$1,900 psf
- Gross rental yield: 3.5%
What works in its favour
- Healthy transaction liquidity: 44 resale transactions in the past 12 months — wide exit pool, easier to price-discover.
- Hot resale demand: Demand pulse 100/100 — 7.2% annual turnover (44 resales/12mo). Units turn over fast; easy to find buyers when you exit.
- Tight new-launch competition: Only 1 active private launch in your district — scarcity supports resale liquidity and pricing.
- Real gross yield: 3.5%: Yield is above the SG private market median (~3.2%). Decent cash flow buffer if interest rates climb. Based on URA median rent (2026Q1) over the project's real resale PSF.
What to watch out for
- District price gap is wide: New launch PSF is +39% above the 5–10 year resale median in Serangoon Gardens / Hougang / Punggol. Market needs ~8 years of growth to match the entry price.
- Thin future upgrader pool: Live count: 0 HDB blocks within 2km cross the 5-year MOP between 2025 and 2028 (of 575 HDB blocks total within 2km), and 1 nearby BTO (incl. Ang Mo Kio Oct 2025 BTO, ~2030) add a fresh upgrader wave from ~2035. Narrow pool to absorb your resale — demand leans more on private-market churn here.
Who The Garden Residences suits
- Value-focused buyers comfortable with the location tradeoff
- Own-stay buyers or patient long-term investors not dependent on yield
- Buyers who value a stable, established neighbourhood over speculative upside
Who should look elsewhere
- Buyers hunting deep relative value — the market has already priced in most of the story
- Short-term flippers — stamp duty + agent fees demand a 5-year minimum hold
- Buyers wanting a guaranteed top-tier primary within 1km walking distance
Huat Kueh says
885m to Rosyth School. Kiasu parents confirm know. No MRT walk though — taxi uncle will know your face.