Icon Review — Anson / Tanjong Pagar · D02
HuatScore: 50/100 — Good
Is Icon a good buy?
HuatScore rates Icon 50/100 — a "Good" verdict. That makes it a conditional buy for buyers who prioritise a central, well-connected address and investors chasing a workable ~4.3% yield. Strongest card: Both anchors locked in. Main watch-out: District price gap is wide. Pricing is reasonable for the location at current market.
Last updated 2026-08-20 · scored against URA caveat data.
Key facts
- Verdict: Good
- Region: Core Central Region
- Tenure: 99-yr leasehold
- Completed: 2007
- Units: 646
- Developer: Far East Organization
- Avg PSF: ~$1,816 psf
- Price from: S$1.04M
Live market data
- Resale transactions (12mo): 23
- Recent resale PSF: ~$1,830 psf
- Gross rental yield: 4.3%
What works in its favour
- Both anchors locked in: 505m to CANTONMENT PRIMARY SCHOOL and 143m (~2-min walk) to Tanjong Pagar MRT (Exit A). Strictly within the P1 1km zone, plus walkable to the nearest MRT entrance. This is the non-negotiable demand anchor — kiasu parents AND yield-chasing investors are both your buyers.
- Real gross yield: 4.3%: 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.
- 3-bedder × investment — appreciation sweet spot: Sells into the deepest pool — owner-occupier families. That demand floor drives durable capital appreciation. The investor default for total return, not just headline yield.
What to watch out for
- District price gap is wide: New launch PSF is +39% above the 5–10 year resale median in Anson / Tanjong Pagar. 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 208 HDB blocks total within 2km). Narrow pool to absorb your resale — demand leans more on private-market churn here.
Who Icon suits
- Buyers who prioritise a central, well-connected address
- Yield investors — ~4.3% gross is workable; favour larger unit types
- 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
#1 of 18 condos in D2 for resale volume — this one moves. Prices going backwards though — wait for a better entry.